Property Management
A management agreement between a property owner and a property manager is BEST described as:
AA lease agreement with the tenants
BAn employment or agency contract authorizing the manager to act on behalf of the owner✓ Correct
CA partnership agreement to share profits
DA deed transfer of management rights
Explanation
A property management agreement is a contract (an agency/employment contract) that authorizes the property manager to act as the owner's agent. It specifies the manager's authority, duties, compensation, and the duration of the agreement.
Related Idaho Property Management Questions
- What is 'professional liability insurance' (E&O insurance) for Idaho property managers?
- An Idaho property manager discovers that a tenant has sublet the unit without permission. The manager's first step should be:
- Which type of lease provides a fixed rent amount for a defined period, such as one year?
- A property manager who accepts a fee from a vendor without disclosing it to the owner is guilty of:
- An Idaho property manager is aware that a rental property has a serious mold problem. The manager must:
- Idaho landlord-tenant law requires a landlord to return a security deposit within how many days after the tenant vacates?
- A property manager preparing an annual operating budget should include all of the following EXCEPT:
- Which lease clause protects a tenant's rent from increasing with inflation by tying adjustments to the Consumer Price Index?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →