Property Management
A property manager in Pennsylvania receives a tenant's rent payment and is responsible for disbursing funds to the property owner. This requires:
ACombining all rents in one operating account for efficiency
BMaintaining separate trust/escrow accounts for client funds and providing accurate accounting statements✓ Correct
CDepositing funds in the manager's personal account and reimbursing monthly
DAsking the tenant to pay the owner directly to simplify accounting
Explanation
Pennsylvania property managers must maintain separate trust or escrow accounts for client funds (never commingling with operating funds), provide regular accounting statements to property owners, and promptly remit net proceeds. RELRA requires this segregation to protect client funds.
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