Property Management
A Virginia property management company that manages more than 10 rental properties must maintain a trust account that is:
ASeparate for each property
BFederally insured and separate from operating funds✓ Correct
CAt a Virginia state bank only
DApproved by VREB annually
Explanation
Virginia law requires property managers to maintain federally insured trust (escrow) accounts that are completely separate from their business operating accounts, regardless of the number of properties managed.
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