Property Management
In Tennessee, a property manager who is also a licensed real estate broker may manage properties for multiple owners and:
AMust charge all owners the same fee
BMust maintain separate trust accounts for each owner's funds to avoid commingling✓ Correct
CMay pool all owner funds in a single trust account
DIs exempt from TREC supervision requirements
Explanation
While multiple owners' funds may be maintained in a single properly designated trust account, the property manager must maintain detailed accounting records so that each owner's funds are identifiable and never commingled.
Related Tennessee Property Management Questions
- In Tennessee, a lease for more than one year must be:
- Under the Tennessee URLTA, a landlord must return a tenant's security deposit within how many days of lease termination?
- A Tennessee landlord who wrongfully withholds a tenant's security deposit may be liable for:
- In Tennessee, a landlord may evict a tenant for non-payment of rent by first:
- A property manager who receives a vendor invoice for emergency HVAC repairs at a managed property should:
- A rental property in Nashville is subject to Metro Nashville's property maintenance code. A property manager must ensure the property complies with these codes because:
- In Tennessee, an unlawful detainer (eviction) action is filed in which court?
- A property manager in Tennessee who receives a notice of code violation from the local health or building department must:
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →