Wednesday, April 2, 2014

Trust Fund Handling

Real estate commissioners in many states are really cracking down on how property managers handle trust funds.  For example, in Texas the TREC's latest newsletter has the entire first page dedicate to trust account issues.
A broker who manages property for clients, who accepts a security deposit, or who collects rent or disburses money, is required to maintain a trust account for that money...the broker is responsible for properly handling money deposited into a trust account...
In California, the Bureau of Real Estate reported 34 trust fund handling related enforcement actions in February alone.  We try to make it as easy as possible for you to be compliant.  Try Rentables for Free and see just how easy it can be to keep your trust account balanced and reconciled.

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