Florida Broker Practice Exam

Who is considered a property manager?

1. A person who owns multiple properties

2. A local representative managing a property

3. An absentee owner

4. A real estate investor

The correct answer is: A local representative managing a property

A property manager is best defined as a local representative managing a property. This role typically involves overseeing the daily operations of a real estate investment, including activities like collecting rents, maintaining the property, coordinating repairs, ensuring tenant satisfaction, and complying with various regulations. The manager acts on behalf of the property owner, making decisions and taking actions that help secure the property’s profitability and upkeep. The other choices present roles or situations that do not encapsulate the responsibilities or function of a property manager. For instance, a person who owns multiple properties may directly manage their own assets but does not represent the function of a property manager unless they are specifically hired to act in that capacity for others. An absentee owner is one who does not live near or actively manage their properties, which is contrary to the proactive involvement expected of a property manager. A real estate investor focuses on acquiring properties with the intention of financial gain but may or may not engage in the day-to-day management of properties. Hence, the identifying characteristic that distinguishes the property manager is their active, hands-on role in overseeing and managing a specific property on behalf of an owner.