Property Management
A South Carolina property manager's primary duty is to:
AMaximize rent income at all costs
BAct in the best interests of the property owner✓ Correct
CRepresent the interests of the tenants
DEnsure the property is always occupied
Explanation
A property manager is a fiduciary agent of the property owner and must act in the owner's best interests, including proper maintenance, legal compliance, and sound financial management.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
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