Property Management
Represent the owner or principal in much the same manner as the listing and selling agents represent the owner/seller of a property.
Property Manager
A special limited agent (broker).
Property Management Agreement
An employment contract setting up the agency relationship between the property owner and the real estate agent that give the agent the responsibility of managing the property, including such responsibilities as negotiating, leasing, repairing and maintain
Residential Manager
A person living on the premises who is a salaried employee of the owner.
Management Plan
A long-range program prepared by a property manager for the management of the property.
Management Proposal
A program for operating a property submitted to the owner by a property manager.
Operating Budget
An annual budget and includes only those times of income and expenses expected during a particular budget year.
Stabilized Budget
A forecast of income and expense as may be reasonably projected over a short term of years, typically five years.
Property Management Report
Periodic (monthly) accounting of all funds received and disbursed.
Commingle
To mix the money or property of others by an agent with the agent's personal or business funds or other property.
Conversion
An unauthorized act that deprives an owner of personal property without his or her consent.
Americans with Disabilities Act (ADA)
A federal law protecting the rights of individuals with physical or mental impairments.
Trust Accounts
An account maintained by a real estate broker in an insured bank for the deposit of other people's money.