Property Management
A property manager's fiduciary duty to the owner includes which of the following?
AMaximizing vacancy to reduce maintenance costs
BAccounting for all funds received and disbursed on the owner's behalf✓ Correct
CSetting rents at rates favorable to tenants to reduce turnover
DPrioritizing their own brokerage's interests over the owner's
Explanation
A property manager acting as an agent owes the owner fiduciary duties including loyalty, confidentiality, obedience, and accounting. The duty to account requires maintaining accurate records of all rental income, expenses, and security deposits.
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