Property Management
A Rhode Island property manager's primary duty when accepting a new management assignment is to:
AIncrease rents immediately to market rate
BEnter into a written property management agreement with the owner outlining duties, authority, and compensation✓ Correct
CNotify the DBR of the new management assignment
DTerminate all existing leases and find new tenants
Explanation
The first step in any property management assignment is establishing a written property management agreement with the owner that defines the scope of authority, responsibilities, and compensation. This protects both parties and establishes the legal relationship.
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