Which of the following is a common responsibility of property managers?

Daily operation and maintenance of rental properties is indeed a core responsibility of property managers. This role encompasses a wide range of tasks necessary to ensure that the properties are functioning efficiently and effectively. Property managers oversee the daily activities associated with property maintenance, including coordinating repairs, addressing tenant concerns, managing the property’s budget, and ensuring compliance with relevant laws and regulations. These responsibilities are essential for maintaining tenant satisfaction and preserving the value of the property over time.

In contrast, developing property investment strategies involves a more strategic and financial planning focus, which typically falls under the purview of investors or financial analysts rather than day-to-day property managers. Creating federal housing policies is a legislative task that requires governmental authority and typically involves public policy professionals, not property management. Designing new residential units relates more to architects and builders, whose expertise lies in construction and design rather than management of existing properties.