Property Management
A North Dakota property owner who hires a management company retains ultimate responsibility for:
ADay-to-day management tasks
BLegal and tax obligations as property owner, fair housing compliance, and major decisions✓ Correct
COnly emergency repairs
DNothing; the management company assumes all responsibility
Explanation
While a property management company handles daily operations, the property owner retains ultimate responsibility for the property including legal and tax obligations, major financial decisions, compliance with fair housing laws (they can be held liable for their agent's violations), and significant capital expenditures.
Related North Dakota Property Management Questions
- Under North Dakota landlord-tenant law, which of the following actions would allow a tenant to legally withhold rent?
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- A North Dakota property manager enters into a 5-year management agreement. What must the management agreement include to be valid?
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