Property Management
A NC broker who manages rental properties must maintain trust account records showing all receipts and disbursements. These records must reconcile:
AAnnually only
BMonthly✓ Correct
COnly when NCREC requests an audit
DEvery time a lease is signed
Explanation
NCREC rules require brokers to reconcile trust accounts monthly, comparing the bank statement balance to the broker's journal balance and individual client ledger balances to ensure no funds are missing or commingled.
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