Property Management
A New Jersey residential property manager must keep accurate records of all receipts and disbursements for each managed property and retain those records for at least:
A1 year
B6 years (consistent with NJ broker record-keeping requirements)✓ Correct
C10 years
D30 days after the management relationship ends
Explanation
NJ NJREC regulations require brokers to maintain trust account and transaction records for 6 years. Property management records are subject to NJREC audit and must be maintained in a manner that allows full accounting of all client funds.
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