# Unit 19: Property Management

The property manager's chief concern should be that the property

A)
generates commission for the property manager.
B)
is managed to achieve the highest overall rate of return possible on the owner's investment.
C)
is never vacant, no matter how unreliable the tenants.
D)
doesn't require too much of the property manager's time.
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The property manager's chief concern should be that the property

A)
generates commission for the property manager.
B)
is managed to achieve the highest overall rate of return possible on the owner's investment.
C)
is never vacant, no matter how unreliable the tenants.
D)
doesn't require too much of the property manager's time.
B) is managed to achieve the highest overall rate of return possible on the owner's investment.

The three principal responsibilities of the property manager are to achieve the objectives of the property owner, to generate income for the owner, and to preserve and/or increase the value of the investment property. In the process of meeting the goals of the property owner, the property manager is responsible for maintaining the owner's investment and ensuring that the property earns income.
A) generating maximum income for the property manager.

The three principal responsibilities of the property manager focus on the investment objectives of the property owner, including preserving or increasing the value of the property, and do not include generating maximum income for the property manager.
A) restrictions regarding ages of children.

A management agreement should include an adequate description of the property, compensation arrangements, and what the manager's authority is to be. Restricting occupancy based on ages of children violates the federal Fair Housing Act and may also violate state and local laws.
An example of complying with the Americans with Disabilities Act (ADA) could be

A)
making exceptions regarding prohibited activities such as smoking in restricted areas.
B)
offering relaxed credit standards for appropriate prospective tenants.
C)
allowing qualified prospective tenants to be considered before any others.
D)
installing auditory signals in elevators.