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Updated about 8 years ago on . Most recent reply

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Gamal R.
  • Residential Real Estate Agent
  • Homestead, FL
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Trust account for property management

Gamal R.
  • Residential Real Estate Agent
  • Homestead, FL
Posted

Im planning on oppening up a PM business in Florida. I have been learning up on the subject. I know I need a trust account for the rent I collect but How and where do I open one?
:oops:

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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
  • Rental Property Investor
  • Mercer Island, WA
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

You probably do have to be a licensed agent to manage rentals, and agents who aren't brokers have to work for a broker, so have your managing broker open the account.

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