Property Management
A property manager in Florida is hired under a 'property management agreement.' This agreement is considered a(n):
ASales listing agreement
BEmployment contract between the manager and the owner
CAgency agreement creating a general agency relationship✓ Correct
DLease agreement between manager and tenant
Explanation
A property management agreement creates a general agency relationship between the property owner (principal) and the property manager (agent). The manager has ongoing authority to perform management functions on the owner's behalf.
People Also Study
Related Florida Questions
- Under a property management agreement in Florida, the property manager typically has what type of authority?Property Management
- A Florida property manager is managing a property and the owner becomes incapacitated. The management agreement is typically:Property Management
- A Florida property manager is hired to manage a commercial office building. The management agreement should specify all of the following EXCEPT:Property Management
- A Florida commercial property manager is authorized under a management agreement to sign leases on behalf of the owner. The manager is functioning in the legal capacity of:Property Management
- Under Florida's Brokerage Relationship Disclosure Act, the default brokerage relationship (when no written agreement exists) is:Agency
- In Florida, riparian rights give a waterfront property owner what general right regarding adjacent water?Property Ownership
- In Florida, which of the following creates a general lien against real property?Escrow & Title
- A buyer in Florida signs a buyer broker agreement that provides for 'exclusive buyer agency.' This means the buyer:Agency
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Study This Topic
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →