Property Management
A West Virginia residential property manager who discovers that a maintenance contractor has overcharged for repairs should:
AAccept the charges since the manager hired the contractor
BReport the overcharges to the owner and dispute the charges on the owner's behalf✓ Correct
CPay the overcharge out of the security deposit
DAbsorb the overcharge into the management fee
Explanation
The property manager has a fiduciary duty to the owner, which includes protecting the owner's financial interests. Discovering and disputing overcharges by contractors is part of that duty.
People Also Study
Related West Virginia Questions
- A property manager in West Virginia who discovers a habitability issue (broken furnace in winter) in a managed residential unit should:Property Management
- Which of the following is a West Virginia property manager's fiduciary duty to the property owner?Property Management
- A West Virginia property manager is hired to manage a 50-unit apartment complex. The manager's primary fiduciary duty is owed to:Property Management
- A West Virginia property manager discovers major roof damage requiring $15,000 in repairs. Without owner authorization, the manager may:Property Management
- A West Virginia listing agent may disclose which of the following to a buyer without breaching their fiduciary duty to the seller?Agency
- A West Virginia property owner wants to use residential land in a way not permitted by the current zoning ordinance. The owner can apply for a:Land Use & Zoning
- When a West Virginia surface owner discovers that the severed mineral rights owner intends to mine beneath their land, the surface owner's rights are governed by:Environmental
- The fiduciary duty of accounting in West Virginia requires a real estate agent to:Agency
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.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
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.
Study This Topic
Practice More West Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free West Virginia Quiz →