Property Management
A Louisiana property management company that manages properties for multiple owners must:
AMaintain a separate bank account for each property owner
BMaintain a trust account for all clients' funds, with detailed accounting records to track each owner's funds separately✓ Correct
CPool all client funds in one general business account for efficiency
DReport monthly to the LREC on all client fund activities
Explanation
While a single trust account may hold funds for multiple clients, the property manager must maintain detailed accounting records identifying each client's funds separately. Commingling is prohibited, but a single trust account with proper bookkeeping is generally acceptable.
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