medium · National Real Estate Exam property-management
A broker is managing several rental properties and keeps all security deposits in a single trust account separate from the earnest money trust account.
Is this permissible?
- Yes, provided the broker maintains clear records showing each tenant's share
- Yes, but only if the account is interest-bearing with all interest going to the broker
- No, property management funds must always be held by the property owner
- No, every individual tenant must have their own separate bank account
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