What is one of the duties of a professional property manager acting as an agent for the owner?

A professional property manager serves as an agent for the property owner, and one of their primary responsibilities is to understand the owner's goals and objectives. This means that the property manager must actively engage with the owner to ascertain their expectations, needs, and any specific outcomes they wish to achieve, whether it be maximizing rental income, maintaining the property’s value, or ensuring tenant satisfaction. By achieving a clear understanding of the owner's vision, the property manager can implement appropriate strategies and decisions that align with those goals, ultimately leading to a more effective management of the property.

The other options, while related to property management, do not directly reflect the essential duty of a property manager acting as an agent. For instance, deciding on a selling price or arranging for the property to be sold are more aligned with real estate sales rather than property management specifically. Furthermore, while managing tenant communications is an important function, it is part of the broader responsibilities that support the owner's objectives, emphasizing why understanding the owner's goals is a fundamental duty.