Property Management
A New Mexico property manager responsible for a 50-unit apartment complex must maintain a trust account. The primary purpose of this account is to:
AEarn interest for the property manager
BHold tenant security deposits and rents separate from the manager's personal or business funds✓ Correct
CPay property taxes
DFund capital improvements
Explanation
Trust (escrow) accounts keep client funds — security deposits and rent proceeds — completely separate from the broker's or manager's operating funds, preventing commingling in violation of NMREC rules.
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