Property Management
A Virginia property manager who holds tenant security deposits must:
AKeep them in the manager's personal bank account
BDeposit them in a federally insured escrow account separate from operating funds✓ Correct
CInvest them in a money market fund for the tenant's benefit
DTurn them over to VREB for safekeeping
Explanation
Under Virginia law and VREB regulations, security deposits must be held in a separate, federally insured escrow account and may not be commingled with operating or personal funds.
Related Virginia Property Management Questions
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