Which action is included in a property manager’s obligations to the owner?

A property manager's obligations to the owner primarily revolve around the effective management and operation of the property, which includes financial responsibilities. Budgeting and reporting on property expenses are key aspects of this role. Property managers are tasked with preparing budgets that outline projected income and costs associated with the property. They also monitor actual expenses against this budget, providing detailed reports to the owner. This ensures transparency in financial matters and allows the owner to make informed decisions based on the property's performance.

In contrast, while handling tenant interviews and providing market trend forecasts may be part of a property manager's duties, they are not core obligations. Legal advice regarding real estate laws is outside the typical scope of a property manager's role, as it requires expertise that is often reserved for legal professionals. Therefore, budgeting and reporting on property expenses stands out as a fundamental component of a property manager's responsibilities to the owner.