Virginia License Law
A Virginia real estate licensee who engages in property management must ensure their principal broker maintains:
AA separate property management license
BA separate escrow/trust account for each managed property
CTrust accounts that are properly maintained and reconciled for all managed properties✓ Correct
DA bond of at least $100,000
Explanation
Virginia VREB regulations require brokers to maintain properly reconciled trust/escrow accounts for all client funds, including security deposits and rents collected in property management activities.
Related Virginia Virginia License Law Questions
- A Virginia real estate licensee must disclose their license status when purchasing real estate for their own account. This requirement exists to:
- A Virginia licensee must report a change of their business address to VREB within:
- Under Virginia law, how long does a new salesperson have to complete post-license education after obtaining their first license?
- A Virginia broker who discovers that one of their salespersons made a material misrepresentation in a transaction should:
- When a Virginia licensee acts as a property manager AND a real estate agent for the same client in different transactions, they must:
- A Virginia licensee who receives a copy of a ratified contract must provide it to all parties within:
- When a Virginia broker's license is revoked, what happens to the salespersons affiliated with that broker?
- A Virginia real estate license is valid for how long before it must be renewed?
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →