A property manager fails to lodge a tenant's bond with the relevant state authority and instead keeps it in the agency's general operating account. What consumer protection laws have been breached?
Correct Answer
B) Trust account regulations and potentially Australian Consumer Law
This conduct breaches trust account regulations by failing to properly secure client funds and may also constitute misleading conduct under Australian Consumer Law if the tenant was told their bond would be properly lodged and protected.
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A property manager fails to lodge a tenant's bond with the relevant state authority and instead keeps it in the agency's general operating account. This action primarily breaches:
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