Property Management
A property manager's primary duty is to:
AMaximize the property's value and income for the owner✓ Correct
BProtect the tenant's interests above all else
CMinimize maintenance costs regardless of property condition
DComply only with local ordinances
Explanation
A property manager acts as an agent for the property owner and has a fiduciary duty to manage the property in the owner's best interest, including maximizing income and preserving or increasing property value.
Related North Dakota Property Management Questions
- When a tenant remains in possession after their lease expires without a new agreement, this is called:
- A North Dakota property manager who takes on a new management agreement should ensure the owner carries adequate:
- Which of the following lease provisions would be unenforceable in North Dakota residential housing?
- A North Dakota property manager who deposits rent checks more than one week after receipt into the trust account is likely:
- In North Dakota, a commercial property manager typically earns their management fee based on:
- A North Dakota tenant who signs a sublease is transferring their interest to the subtenant. The original tenant:
- A North Dakota multi-family property manager who improves a property's energy efficiency qualifies for:
- In a North Dakota manufactured housing (mobile home) park, tenants who own their home but rent the lot have specific protections because:
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