Property Management
A property manager in New Mexico who collects rents must:
ADeposit all rents into their personal account for convenience
BMaintain a separate trust account for client funds✓ Correct
CSubmit monthly statements to the NMREC
DHold rents in cash until the owner requests payment
Explanation
New Mexico law requires property managers to maintain a separate trust account for client funds (rents, deposits). Commingling client funds with personal or business operating funds is a licensing violation.
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