Property Management
A Louisiana property manager should update the property owner on major repairs when the cost exceeds the:
AManager's personal budget threshold
BPre-authorized spending limit set in the management agreement✓ Correct
CCost of one month's rent
DAmount required by the LREC
Explanation
The property management agreement typically establishes a pre-authorized spending limit for routine repairs. When repairs exceed this threshold, the property manager must notify and obtain approval from the owner before proceeding.
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