A Victorian agent's representative collects $2,500 in cash rent from a tenant at an inspection. What must she do with the money?
Correct Answer
D) Pay it immediately to her employing agent, or into a trust account the agent specifies
Under the Victorian rules, an agent's representative who receives trust money must immediately pay it to the licensed estate agent for whom they act, or to a trust account specified by that agent. Rent is trust money, so it must not be held personally or banked into a general business account.
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