Montana Real Estate Practice Exam 2026 - Free Real Estate License Practice Questions and Study Guide

A licensed property manager is responsible for the day-to-day operations of investment properties. Their duties typically include collecting rent, managing tenants, handling maintenance requests, and advertising properties to ensure high occupancy rates. However, property managers are not authorized to engage in real estate transactions such as representing buyers or sellers in a sale.

This restriction is important as it delineates the roles and responsibilities of property managers from licensed real estate agents and brokers, who have the training and legal authority to facilitate property sales and purchases. This helps maintain a clear understanding of professional boundaries within the real estate industry and ensures that all transactions are handled by individuals who possess the requisite qualifications and licensure for that specific role.

In contrast to the role of a property manager, collecting rent, managing properties, and advertising them are all within their scope of practice, thus highlighting that they operate primarily to maintain and manage rental properties rather than engage in sales transactions.