Practice Of Real EstateProperty ManagementEASY
Property managers set aside funds for unexpected costs through:
Correct Answer
B) Cash reserve fund
A cash reserve fund is money set aside by property managers to cover unexpected repairs, vacancies, or other unforeseen expenses.
Answer Options
A
Cash control accountB
Cash reserve fundC
Floating allocation fundD
Asset interest accountVideo Explanation3 min
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Related Topics & Key Terms
Related Topics:
property-manager-fiduciary-dutiesreal-estate-property-accounting
Key Terms:
cash reserve fundproperty managementcapital reservereplacement reserveoperating account
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