What must a property manager maintain according to regulations?

A property manager is required to maintain at least one account to ensure proper financial management and accountability for the funds they handle on behalf of property owners. This is crucial because it allows for the clear tracking of income and expenses related to the property, enhances transparency, and protects both the property manager and the property owner from potential financial disputes.

By having at least one account, property managers can segregate their clients' funds from their personal or business operating funds. This practice is fundamental in maintaining fiduciary responsibility, ensuring that the funds are used appropriately for leasing, maintenance, and other property-related expenses, while also providing a clear audit trail.

This regulation helps to uphold ethical standards in property management and is a requirement that helps to safeguard the interests of all parties involved in property transactions.