Property Management
A property manager collects $15,000 in monthly rents. This money must be kept in a:
AThe manager's personal savings account
BA separate trust or escrow account✓ Correct
CThe property owner's personal account
DA general operating account for office expenses
Explanation
Rents and security deposits collected on behalf of property owners must be held in a separate trust or escrow account and never commingled with the manager's personal or operating funds.
Related Connecticut Property Management Questions
- A Connecticut residential property manager must hold tenant security deposits in:
- Which of the following is the BEST practice for a Connecticut property manager maintaining a trust account?
- In Connecticut, 'deferred maintenance' in a rental property can result in:
- A property manager in Connecticut who manages property for others and collects rent must hold a:
- A percentage lease is most commonly used in:
- A Connecticut landlord who accepts rent after serving a notice to quit may be considered to have:
- A Connecticut commercial landlord must provide tenants with the Americans with Disabilities Act (ADA) 'barrier removal' accommodations when:
- A Connecticut commercial tenant on a full-service gross lease pays $3,500/month. The landlord is responsible for which of the following?
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →