Clarence owns three rental homes he doesn't have time to oversee himself. He decides to hire George to take care of his rental units in the hopes of maximizing the return on his investment. What role is George filling?
A property manager is hired by an owner to manage rental property, maintain operations, and maximize return on investment.
Other options:
(A) Sponsoring broker -- oversees real estate salespersons, not rentals.
(B) Appraisal manager -- not a real estate role.
(C) Broker's agent -- represents broker in brokerage activities, not property management.
Code of Virginia 54.1-2100 (definition includes property management as brokerage services)
Virginia Real Estate Principles & Practices -- Property Management
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