Property Management
An Indiana property manager who receives money from a tenant must:
ADeposit it in their personal account until the end of the month
BDeposit it in a designated trust account separate from operating funds✓ Correct
CRemit it to the owner within 24 hours
DKeep it in cash until the owner requests it
Explanation
Client funds received by a property manager (including rents and security deposits) must be deposited in a designated trust account, segregated from the manager's own operating funds.
Related Indiana Property Management Questions
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- A property manager in Indiana who knowingly provides a false monthly statement to the property owner is:
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