Fortune Academy South Carolina Property Management Course Practice Test

Fiduciary duties in property management apply to the principal or client/owner because the property manager acts as the owner’s agent. That agency relationship means the manager must put the owner’s interests first, handling funds, leases, and property decisions with loyalty and care. They must avoid conflicts of interest, disclose important information, keep accurate records, and manage rents and deposits in a way that benefits the owner, not the manager or others.

Tenants, the public, or lenders are not the recipients of these fiduciary duties. Tenants are protected by other legal obligations and contractual terms, while lenders have a financial interest tied to loans and collateral, not the day-to-day fiduciary relationship between manager and owner.