Property Management
A Michigan property manager who collects rents on behalf of owners must:
ADeposit all rents into their personal account for convenience
BMaintain trust accounts and keep owner funds separate from personal funds✓ Correct
CPay all expenses from rent before forwarding to the owner
DOnly accept cash payments from tenants
Explanation
Property managers in Michigan must maintain trust accounts and keep all owner funds (rents, security deposits) separate from personal or operating funds, consistent with the broker trust account requirements of the Occupational Code.
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