Property Management
A landlord who receives a security deposit in Georgia must:
APlace it in any bank account
BHold it in a trust or escrow account and follow specific statutory requirements for return or deductions✓ Correct
CUse it for property improvements immediately
DApply it to the first month's rent automatically
Explanation
Georgia's Security Deposit Act requires landlords to hold security deposits in a trust or escrow account and provide a written statement of deductions (if any) within 30 days of the tenant vacating.
Related Georgia Property Management Questions
- Renter's insurance is important for tenants because it covers:
- In commercial leasing, 'usable square footage' differs from 'rentable square footage' in that:
- A Georgia landlord who wrongfully withholds a tenant's security deposit without providing an itemized statement within 30 days faces:
- In Georgia, when a commercial lease contains a 'co-tenancy clause,' it means the tenant can:
- A triple net (NNN) lease tenant who fails to pay property taxes could result in the landlord:
- Georgia's Landlord-Tenant Act requires that before a landlord can recover the dwelling unit through eviction, the landlord must first:
- A 'lease with option to purchase' provides the tenant with:
- Gross leases require the tenant to pay:
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →