Property Management
A Texas property manager who manages condominium HOA funds in a portfolio of managed associations must:
AKeep all association funds in one account for efficiency
BMaintain separate trust accounts for each association and keep thorough records of all receipts and disbursements✓ Correct
COnly report to TREC annually
DHave a TREC property management broker license separate from their real estate license
Explanation
Property managers handling HOA funds must maintain separate accounts for each association, with detailed records of all transactions. Co-mingling funds from different associations or with personal funds is prohibited under fiduciary duty and TREC trust account rules.
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