Question

Money received by a property manager must be deposited within __________ days and money received as earnest money in a real estate transaction must be deposited within __________ days after contracted has been accepted.

Answer 1

Answer:

5, 3

Explanation:

The law requires the property manager to deposit money received by him for property management and short-term rentals within five (5) business days after receipt unless the parties agree otherwise. All other types payments concerning property shall be deposited not later than the third business day after receipt or as provided in the agreement with those concerned.