definition
strict definition
owner's surrogate
An agent who executes a property owner's responsibilities and acts on the owner's behalf.
An owner's surrogate is an agent which performs the roles of a property owner on that owner's behalf, freeing the owner from various management responsibilities. It often provides consulting services to property owners.
The agent acts for the owner in carrying out ownership responsibilities. Those responsibilities can be delegated without transferring legal ownership of the property.
The role can include consulting as part of the representation. Advice alone does not establish that a consultant also acts on the owner's behalf in performing the owner's responsibilities.
Related definitions
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client
The owner of a structure's original construction project, retaining that role after any later sale. -
developer
The company, person, or organization which directs the planning and construction of a built object. -
donor
The person or organization that most recently donated a built object to its current holder. -
housing cooperative
A membership-based entity set up for collective ownership of multi-unit residential properties. -
master plan developer
A company which organizes the overall development scheme for a multi-parcel site. -
owner
The person or entity with a legally recognized ownership claim to all or part of an object. -
owner of landed property
The owner of the land on which a built object is placed, independently of the object itself. -
parking management
The person or organization responsible for parking services and related operations at a site. -
property management
The person or organization overseeing site operations and providing tenant services for a property. -
real estate agent
A firm which sells or leases real estate to purchasers and prospective tenants. -
real estate association
An organization to promote common causes among various enrolled property firms. -
residence provider
An organization renting or leasing residential units cooperatively, often with a property-management role. -
residential condominium association
A group of unit owners acting as the common owner of a building or complex. -
tenant
The person, organization, or other entity occupying a space on an extended, continuing basis.