Property Management
A property manager's primary duty is to:
AMaximize tax benefits for the owner
BManage the property to achieve the owner's goals, typically maximizing return on investment✓ Correct
CRepresent the tenants' interests over the owner's
DEnsure the property is always sold at market value
Explanation
A property manager is a fiduciary for the property owner and has the primary duty to manage the property in a way that achieves the owner's stated goals, typically maximizing net operating income and return on investment.
Related Georgia Property Management Questions
- A 'REIT' (Real Estate Investment Trust) is similar to a property management company in that it:
- The 'capital expenditures' budget in property management covers costs for:
- A 'CAM charge' (Common Area Maintenance) in a commercial lease represents:
- Under Georgia law, a landlord who enters a rental unit without notice or consent of the tenant may be liable for:
- A property management company's 'reserves account' is used to:
- A property manager who uses rental income to pay their own bills rather than remitting to the owner is guilty of:
- An 'anchor tenant' in a shopping center refers to:
- A property manager's annual plan for major capital improvements (roof replacement, HVAC, etc.) is called a:
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