Property Management
A property manager's primary responsibility is to:
AMaximize the market value of the property for a future sale
BManage the property in accordance with the owner's goals and maximize the owner's return on investment✓ Correct
CMinimize maintenance expenses regardless of tenant needs
DMarket the property for the highest possible rent without regard to vacancies
Explanation
A property manager's primary responsibility is to manage the property in accordance with the owner's investment goals, which typically includes maximizing income, minimizing vacancies, and maintaining the property.
Related Louisiana Property Management Questions
- A Louisiana property manager discovers that the owner has failed to pay property taxes and the property is at risk of a tax sale. The manager should:
- The Americans with Disabilities Act (ADA) requires commercial properties to:
- A landlord who attempts to evict a tenant by changing the locks, removing the tenant's belongings, or cutting off utilities is engaged in:
- A Louisiana property manager discovers that the building they manage has structural deficiencies. Their immediate duty is to:
- A gross lease requires the tenant to pay:
- In Louisiana, the 'due diligence period' in a commercial property acquisition allows the buyer to:
- An 'owner's report' (or management report) provided to property owners by a Louisiana property manager should ideally be provided:
- In Louisiana, a property manager who manages properties on behalf of others for compensation must hold a:
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