What is the property manager's primary duty to the owner?

The primary duty of a property manager to the owner is to achieve the highest possible return on the owner's investment. This involves a comprehensive approach to managing the property, which includes effectively marketing the property, screening tenants, maintaining the property, and ensuring compliance with relevant laws and regulations.

Achieving a high return on investment is paramount because it encompasses not just filling vacancies, but also optimizing rental income, reducing operational costs, and maintaining the property to preserve its value over time. When a property manager focuses on maximizing the owner's financial returns, they are working toward the owner's long-term goals, ensuring the property is not only occupied but also serves as a sustainable and profitable asset.

Additionally, while filling vacancies and managing tenant relations are important aspects of property management, they serve as methods to achieve the overarching goal of maximizing return on investment. Resetting property values can be part of the strategy but does not directly pertain to the ongoing responsibilities of a property manager. Thus, the focus is primarily aligned with financial performance rather than solely on filling units or adjusting rental prices.