Property Management
A Hawaii property manager's primary duty is to act in the best interests of:
AA. The tenants
BB. The property owner (principal)✓ Correct
CC. The Hawaii Real Estate Commission
DD. The lender holding the mortgage
Explanation
A property manager is an agent of the property owner and owes fiduciary duties to the owner as their principal, including loyalty, care, and accounting for funds.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Math Concepts
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