Tennessee Real Estate License Exam Practice Question
A property management agreement is a contract which identifies which one of the following?
Correct Answer: D
Rationale: A property management agreement primarily outlines the property manager's authority, detailing the scope of their responsibilities and decision-making power regarding the property.
Option A is incorrect because while employee responsibilities may be addressed, they are not the central focus of the agreement. Option B is not relevant, as tenant names are typically not included in this type of contract. Option C is also misleading; lease amounts may be discussed, but they do not define the agreement's purpose. Thus, the agreement is fundamentally about the property manager's authority to act on behalf of the property owner.
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