What is typically true about an individual property manager?

An individual property manager is typically a real estate broker because this role often requires a comprehensive understanding of real estate principles, transactions, and management practices. A real estate broker is trained and licensed to handle various aspects of property management, including leasing, tenant relations, and financial oversight. Being a broker equips the property manager with the necessary skills to navigate the complexities of property transactions and regulations effectively, which is essential for managing properties on behalf of owners.

The other options do not accurately reflect common characteristics of property managers. While some may manage properties they own, it is not a universal trait, as many property managers work for property management companies or other owners. Additionally, while some property managers may operate without a real estate license in certain circumstances, licensing is typically required to ensure compliance with local and state regulations. Furthermore, property managers are not limited to managing only residential properties; they often also oversee commercial, industrial, and mixed-use properties, showcasing the diversity of their roles in the real estate sector.