Property Management
A Florida property manager receives a security deposit for a residential unit. The deposit must be held:
AIn the manager's personal savings account
BIn a Florida financial institution in a separate account OR posted as a surety bond✓ Correct
CIn the brokerage's operating account
DIn an interest-bearing account in the tenant's name
Explanation
Under Chapter 83 F.S., Florida landlords must hold security deposits in a separate non-interest-bearing account in a Florida financial institution, or post a surety bond with the Clerk of Circuit Court. The deposit cannot be commingled with other funds.
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