Illinois Real Estate Practice Exam

A property manager primarily represents the interests of the building's owner. Their main responsibility is to ensure that the property is well-maintained, leased effectively, and generates revenue for the owner. This includes managing tenant relations, enforcing lease agreements, handling maintenance issues, and keeping an eye on operating expenses to maximize profitability.

While property managers must also consider the needs of tenants and maintain a positive relationship with the local community, their core obligation is to the property owner. This means that decisions made by the property manager are typically aligned with enhancing the financial performance and value of the owner's investment in the property. Their role is to act in the owner's best interest while also balancing the needs of tenants for a harmonious living environment.