Question

Property owner Susan and property manager Phil just entered into a property management agreement. Which of the following is NOT something that would be addressed in the agreement?

A. Fees the property manager will charge tenants
B. Fees to be paid by the owner
C. Phil's power to sell the property without consulting Susan
D. The extent of the manager's authority to act for the owner

Answer 1

A property management agreement typically covers the fees for the owner and details of the manager's authority but does not grant the manager power to sell the property without the owner's consent.

Step-by-step explanation:

In a property management agreement between a property owner and a property manager, like the one between Susan and Phil, certain aspects are typically covered to establish the terms of their professional relationship.

These typically include the fees to be paid by the owner, the extent of the manager's authority to act for the owner, and possibly the fees the property manager will charge tenants.

However, it is not standard for such an agreement to grant the property manager the power to sell the property without consulting the owner. That power would usually require a separate and specifically tailored power of attorney or sales listing agreement.

In property management agreements, the manager's role is primarily to oversee the day-to-day management of the property, not to make decisions on selling it.

Therefore, the correct answer is C. Phil's power to sell the property without consulting Susan.