Final answer:
A Property Manager is responsible for preserving the value of an investment property and generating income for the owners by performing day-to-day management tasks. The property manager's job is to manage the property effectively, maintaining high occupancy and low operating costs.
Option 'C' is the correct.
Step-by-step explanation:
One who preserves the value of an investment property while generating income as an agent for the owners is known as a Property Manager.
A Property Manager is tasked with the day-to-day management of real estate properties on behalf of the property owner.
Their responsibilities include, but are not limited to, renting out properties (finding and retaining tenants), collecting rent, performing property maintenance, and ensuring that the property remains a valuable asset.
This role should not be confused with that of a Real Estate Broker, who primarily deals with the buying and selling of properties; a Property Appraiser, who is responsible for determining the value of a property; or a Real Estate Investor, who owns the property and invests in real estate to earn returns on investment.
Property Managers serve as intermediaries between tenants and the property owner, and their ultimate goal is to maintain high occupancy rates while keeping operating costs low.
By doing so, they help to ensure a steady income stream from the property and minimize the depreciation of the property's value over time. They must understand the laws and regulations affecting real estate, understand how to market properties effectively, manage budgets, and handle any issues or conflicts that arise.
In essence, the property manager plays a key role in protecting the owner’s investment and ensuring it generates income.