Question

A property manager usually has all of the following duties EXCEPT _.1. Providing accurate accounting reports to the owner 2. Leasing and collecting rents 3. Approval of capital expenditures 4. Procuring bids to replace the swimming pool

Answer 1

A property manager's duties typically include providing accounting reports, leasing and collecting rents, and getting bids for repairs, but approving capital expenditures is usually not within their responsibilities.

Step-by-step explanation:

The duties of a property manager typically include providing accurate accounting reports to the owner, leasing and collecting rents, and sometimes procuring bids for property maintenance or upgrades. However, typically a property manager does not have the duty to approve capital expenditures. This responsibility often lies with the property owner or a higher-level decision-maker who controls the financial assets and makes major financial decisions for the property.

Regarding the reference to price ceilings, they show a related economic principle that applies to property management. The imposition of price ceilings can lead to adverse effects where landlords might offer lower quality housing, or convert rental housing to other forms due to the economic pressures and opportunity costs involved. While this context is related to property management, it does not directly answer the duties excepted of a property manager in the question