Who does a tenant representative like Janelle owe fiduciary responsibility to?

Prepare for the BOMI Asset Management Test with flashcards and multiple choice questions. Each question includes helpful hints and detailed explanations. Ensure success in your exam!

A tenant representative, such as Janelle, owes a fiduciary responsibility primarily to the tenant. This relationship is based on the duty to act in the best interests of the tenant, ensuring their needs and preferences are prioritized during negotiations or real estate transactions. The fiduciary duty encompasses loyalty, confidentiality, and full disclosure, which means that Janelle must put the tenant's interests above her own or the owner's interests.

In the context of real estate, this responsibility is crucial because it helps establish trust and ensures that the tenant receives the best possible advice and representation. While interactions with the owner may occur, the primary focus and alignment of responsibility remain centered on serving the tenant. This creates a clear understanding of the obligations that the tenant representative has to her client, reinforcing the integrity of the tenant representation process.

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