Which type of agent is a property manager typically classified as?

A property manager is typically classified as a general agent due to the broad scope of responsibilities and authority granted to them by the property owner. General agents are empowered to act on behalf of their principals in a wide range of matters related to property management. This includes leasing, maintaining the property, collecting rent, handling tenant relations, and overseeing day-to-day operations.

The relationship between a property manager and the property owner encompasses various tasks that require a higher level of authority and discretion, which is characteristic of a general agency. A general agent has the ability to enter into contracts, make decisions regarding property management, and manage the property as if they were the owner, all of which are essential to effectively manage real estate investments.

Understanding the distinctions between different types of agents is vital for real estate professionals, as it influences how they operate within their legal authority and what responsibilities they are expected to fulfill on behalf of their clients.