Property Management
A Nebraska property manager collects rent and security deposits on behalf of the owner. These funds must be kept in:
AThe property manager's personal account
BA separate trust/escrow account✓ Correct
CThe owner's savings account
DA joint account with the manager
Explanation
Property managers must maintain client funds in separate trust or escrow accounts, keeping them completely separate from the manager's personal or operating funds. Commingling is a serious violation.
Related Nebraska Property Management Questions
- Under Nebraska URLTA, what is the maximum security deposit a landlord may collect for an unfurnished rental?
- A commercial tenant who operates a restaurant in a Nebraska shopping center under a net lease would be responsible for paying:
- Under Nebraska URLTA, when a tenant abandons a rental unit, the landlord may:
- A Nebraska property manager is hired under a property management agreement. This agreement is:
- A Nebraska tenant has lived in a unit for 3 years on a month-to-month tenancy. The landlord wants to terminate the tenancy without cause. Under URLTA, the landlord must provide:
- Nebraska's residential lease renewal statute generally provides that if a landlord intends to increase rent at the renewal of an annual lease, they must:
- A Nebraska property management company charges different application fees to different applicants based on their national origin. This violates:
- A Nebraska tenant wants to install a satellite dish. Under federal law (FCC OTARD Rule):
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →