Property Management
A property management company's 'reserves account' is used to:
AFund the manager's salary
BAccumulate funds for future capital expenditures and major repairs✓ Correct
CPay regular operating expenses
DCover security deposit refunds
Explanation
Reserves are funds set aside for anticipated future capital expenditures (roof replacement, HVAC, parking lot resurfacing) so that when these expenses arise, funds are available without special assessments.
Related Georgia Property Management Questions
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