Oregon Real Estate Practice Test

In Oregon, how many designated clients trust accounts can a property manager maintain?

1. Only one

2. As many as they need

3. Two

4. None required

The correct answer is: As many as they need

In Oregon, property managers are allowed to maintain as many designated clients trust accounts as they need. This flexibility is designed to accommodate the various clients and properties a property manager may handle, ensuring that funds can be organized and managed appropriately. Each trust account can be designated for specific clients, allowing for clear tracking of deposits, expenses, and other financial activities tied to individual properties or clients. This approach helps property managers maintain proper accountability and transparency regarding the handling of client funds and ensures compliance with regulatory requirements. By having multiple trust accounts, property managers can also protect client funds by keeping them separate, which is particularly important in the event of audits or client inquiries. Under Oregon law, while it is not mandated to have just one or a specific number of trust accounts, the ability to create as many accounts as necessary helps to streamline financial management and provides a clear audit trail for each client's funds.