Property Management
A Nebraska residential property management agreement typically grants the manager authority to:
ASell the property on the owner's behalf
BLease units, collect rents, and arrange for maintenance✓ Correct
CObtain a mortgage on the property
DChange the property's zoning
Explanation
A property management agreement typically grants authority to lease, collect rents, maintain the property, and manage day-to-day operations. It does NOT authorize selling the property or obtaining financing — those require separate authorization.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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