Tennessee Real Estate Exam Practice Question
A property-management agreement is a contract that identifies the
Correct Answer: D
Rationale: A property-management agreement outlines the property manager's authority, detailing the scope of their responsibilities and decision-making powers. This ensures clarity in the management process.
Option A is incorrect because while employees may have roles defined in other documents, their responsibilities are not the primary focus of this agreement. Option B is wrong as tenant names are typically included in lease agreements, not management contracts. Option C is also incorrect; lease amounts are specified in individual lease agreements, not in the management contract, which centers on managerial authority and obligations.
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