Property Management
A Virginia property manager collects rents in a fiduciary capacity. These funds must be:
ADeposited into the broker's operating account
BHeld in a separate escrow/trust account and not commingled with business funds✓ Correct
CInvested in a money market account for the client's benefit
DPaid to the owner immediately upon receipt
Explanation
Virginia law requires property managers (as licensees) to maintain all client funds in a separate escrow or trust account, strictly prohibiting commingling with the licensee's personal or business funds.
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