Property Management
In New Mexico, a property manager who collects rents must deposit those funds into a trust account:
AWithin 30 days
BPromptly — typically within 1-3 business days per NMREC rules✓ Correct
CAt the end of each month
DOnly after deducting management fees first
Explanation
NMREC rules require prompt deposit of client funds — typically within 1-3 business days. Management fees must not be deducted before depositing; the full amount goes to trust and the manager withdraws fees per the management agreement.
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