Property Management
In Oregon, a property manager who collects rent and pays property expenses must maintain which type of records?
ANo records are required for amounts under $1,000
BAccurate written records of all funds received and disbursed for each managed property✓ Correct
CRecords only for tax purposes at year-end
DOnly a summary of annual income and expenses
Explanation
Oregon property managers must maintain accurate, detailed records of all trust account activity — receipts, disbursements, and balances for each managed property. OREA may audit trust accounts, and owners are entitled to periodic accountings. Failure to maintain proper records is a serious violation that can result in license revocation.
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