Property Management
In Louisiana, a property manager's fiduciary duty to the property owner requires them to put the owner's financial interests first, which means they should NOT:
ARecommend qualified contractors at competitive prices
BAccept undisclosed kickbacks or referral fees from contractors hired for property maintenance✓ Correct
CMaintain detailed financial records for the owner
DSeek competitive bids for major repair work
Explanation
Accepting secret kickbacks or referral fees from contractors hired to maintain the owner's property violates the property manager's fiduciary duty of loyalty — putting the manager's financial interest (the kickback) above the owner's interest in competitive pricing.
Related Louisiana Property Management Questions
- In Louisiana, a lease clause requiring tenants to purchase insurance from a specific company recommended by the landlord would likely violate:
- The management agreement between a property owner and a property manager should include all of the following EXCEPT:
- In Louisiana, a property manager who collects rent on behalf of property owners must:
- In Louisiana, the implied warranty of habitability in residential leases requires landlords to:
- A property manager's primary responsibility is to:
- The Americans with Disabilities Act (ADA) requires commercial properties to:
- A property manager who receives a referral fee from a vendor without the property owner's knowledge is violating:
- Louisiana's residential landlord-tenant law generally requires landlords to:
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →