Final answer:
Property managers aiming to maximize net profit for owners need to thoroughly understand revenues, costs, local zoning regulations.
Step-by-step explanation:
If helping the owner achieve the highest possible net profit is a property manager's primary responsibility, then there are several key pieces of information that are integral to their role. The property manager needs to have a comprehensive understanding of the property's revenues, such as rental income, and costs.
Which include maintenance expenses, property taxes, insurance, and possible financing costs related to mortgages or loans. Additionally, it is essential for the property manager to be aware of local zoning regulations, which can affect the permissible uses of the property and potentially its income-generating capacity.
Understanding the broader market conditions, as well as governmental restrictions and ordinances, is also vital. Furthermore, being professional, resourceful, and proactive in managing the property can contribute significantly to reducing costs and increasing efficiency, thereby maximizing net profits for the owner.