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Podcast: Property Management Brainstorm
Episode: Episode 5 - The Importance of the Broker Trust Account, Featuring Allison Disarro, Senior Vice President of Property Management Banking at Seacoast Commerce Bank
Description: Bob discusses the concept and importance of the Broker Trust Account for property management companies with Allison Disarro, Senior Vice President of Property Management Banking at Seacoast Commerce Bank. Real estate brokers and property management companies receive and hold funds in their everyday course of business from tenants and property owners for rent payments or property improvements. Property managers must accept, control and account for these "trust funds" within compliance under State of California Bureau of Real Estate standards. The improper handling of trust funds can put the monies at risk and may be cause for the suspension of...