Property Management
In Michigan, a property manager's 'fiduciary duty' to the property owner includes:
AOnly maximizing rent regardless of tenant quality
BLoyalty, confidentiality, disclosure, obedience to lawful instructions, reasonable care, and accounting for all funds✓ Correct
COnly collecting rents and paying expenses
DNo fiduciary duties; property managers are independent contractors
Explanation
A Michigan property manager who holds a real estate license owes the owner the same fiduciary duties as any agent: loyalty, confidentiality, disclosure, obedience to lawful instructions, reasonable care, and full accounting of all funds.
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