Virginia Real Estate Exam Practice Question
What types of monies received from income-producing properties should be deposited into an escrow account?
Correct Answer: C
Rationale: Depositing current rent, prepaid rent, and security deposits into an escrow account ensures proper management and protection of funds. Current rent is essential for ongoing operations, while prepaid rent represents future income that should be safeguarded until the rental period begins. Security deposits are held to cover potential damages or unpaid rent, protecting both the landlord and tenant. Options A and B are incomplete as they exclude either prepaid rent or security deposits, while option D omits current rent, failing to address all necessary components for financial accountability.
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