Property Management
Under a Texas property management agreement, the manager typically has authority to:
ASell the property on the owner's behalf
BExecute leases, collect rents, pay operating expenses, and hire vendors within the scope of their authority✓ Correct
CRefinance the property if better rates are available
DConvey title to tenants who have occupied for more than 5 years
Explanation
A property management agreement typically grants the manager authority to lease units, collect and disburse rents, pay operating expenses, and hire contractors for maintenance and repairs within specified dollar limits. Selling or encumbering the property requires the owner's direct action, not the property manager's authority.
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