PSI Virginia Real Estate Complete Practice Exam

A property manager's primary responsibilities revolve around the day-to-day operations of managing rental properties, which include crucial tasks such as collecting rental payments, finding new tenants, and ensuring that all activities comply with local rental laws and regulations.

While collecting rental payments is fundamental to maintaining positive cash flow in a property, finding renters is essential for ensuring that vacancies are swiftly filled to minimize loss of income. Ensuring compliance with rental laws is vital to protect both the property owner and the tenants, as non-compliance can lead to legal issues.

In contrast, negotiating employee contracts falls outside the typical scope of a property manager's duties. While a property manager may oversee the work of maintenance staff or property management assistants, their focus is primarily on tenant relationships, property upkeep, and financial management. Employee contract negotiations are usually the responsibility of higher-level management or human resources within larger property management companies. Thus, this differentiates the basic duties of a property manager from roles focused on human resources and employee relations.