Which key duty is associated with property management?

Screening and selecting tenants is a fundamental duty of property management because it directly impacts the financial success and operational efficiency of a rental property. Effective tenant screening involves evaluating potential renters through background checks, credit reports, rental history, and income verification to ensure they meet the property owner's criteria for tenancy. This process is crucial as it helps to minimize risks such as late payments, property damage, and eviction issues in the future. By carefully selecting tenants, property managers can foster a positive tenant-landlord relationship and maintain a stable occupancy rate, which is essential for maximizing rental income.

The other options, while related to the broader real estate field, do not accurately represent the core responsibilities of property management. Renovating properties for resale is more aligned with real estate development or flipping. Providing legal advice to landlords falls outside the typical scope of property management duties and is better suited for attorneys specializing in real estate law. Handling mortgage financing involves transactions and finance-related activities that are not typically managed by property managers. Thus, tenant screening stands out as a critical and specific duty of property management.