Who does a property manager have a fiduciary obligation to?

A property manager has a fiduciary obligation to the landlord. This means that the property manager is required to act in the best interests of the landlord, who is the owner of the property being managed. This fiduciary relationship involves a duty of loyalty, care, and full disclosure.

The property manager must manage the property efficiently, protect the landlord's investment, and maximize the property’s income while minimizing expenses and risks. This includes activities such as ensuring proper maintenance of the property, finding and managing tenants, and handling finances related to the property, all while keeping the landlord informed and involved in decisions that may affect their investment.

While there may be interactions with tenants and influence from real estate agents, the primary responsibility of the property manager is to uphold the interests and directives of the landlord they represent.