Practice & MathQuestion 93 of 100
A property management agreement between an owner and a property manager typically creates:
a.A buyer agency relationship
b.No agency relationship at all
c.A general agency relationship
d.A subagency to the tenant
Explanation
A property management agreement generally makes the manager a general agent, authorized to handle a range of ongoing tasks on the owner's behalf. This is broader than the special agency of a listing broker hired for one transaction. The manager owes fiduciary duties to the owner.
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