Property Management
Under NC's Vacation Rental Act (G.S. 42A), vacation rental agreements must be in writing and the tenant's advance payment must be deposited into:
AThe property manager's personal account
BA trust account or insured deposit account separate from operating funds✓ Correct
CThe owner's personal savings account
DA federally chartered bank only
Explanation
NC's Vacation Rental Act requires that advance payments be deposited into a trust account or an insured deposit account maintained separately from the property manager's operating funds, protecting tenant money.
Related North Carolina Property Management Questions
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