Property Management
A Mississippi property manager is asked to manage a newly constructed luxury apartment complex. Before signing the management agreement, the manager should review:
AOnly the rent schedule
BAll governing documents including the management agreement, operating budget, lease forms, HOA documents (if applicable), and any regulatory agreements✓ Correct
COnly the building's physical condition
DOnly the owner's financial statements
Explanation
Before taking on a management assignment, a competent property manager reviews all relevant documents: the management agreement (scope, compensation, authority), operating budgets, standard lease forms, any regulatory or financing agreements that restrict management practices, and the physical condition of the property.
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