Final answer:
A property manager's primary obligation is to ensure the property operates efficiently and profitably while adhering to federal regulations. They must balance this with the costs and benefits of owning a business, and consider the interplay of government restrictions like zoning and price ceilings.
Step-by-step explanation:
The primary responsibility of a property manager is to ensure that the property operates efficiently and profitably (c). This entails reaching an agreement with the property owner that the property not only adheres to federal regulations, including zoning and land-use laws but also operates in a manner that maximizes its financial performance. While aesthetics (option b) and personal preferences (option d) may be considered, they are secondary to legal compliance and profitability.
Business owners and property managers must navigate the costs and benefits of owning property and/or a business, understanding that government regulations, like zoning, have both costs such as limiting how property can be used, and benefits such as maintaining order and protecting property values in a community. It is also crucial to consider the financial institutions' role in facilitating business operations and the impact of government restrictions on property use, such as price ceilings.