Trust Accounting Is the Whole Compliance Job — Get It Right From Day One
This plan is built around the fact that managing rental property for a fee is real estate brokerage in most states, requiring a broker's license rather than a business license, with licensing costing $350 to $1,500 and taking months. It walks through the three-way trust account reconciliation required in every state, the security deposit rules, and the tenant-screening standard that must be facially neutral, predictive of tenancy success, and consistently applied to every applicant.
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Built From Real Numbers
The plan works through the licensing decision — broker license, a lighter property-management license in states like Montana and Oregon, or minimal requirements in states like Idaho — and the worked revenue example: fifty doors at an average $1,200 rent managed at 10 percent, netting roughly $64,000 before tax.
It also covers the trust account structure — separate rental trust, security deposit trust and operating accounts, correctly titled at the bank — and the fair housing screening rules following HUD's 2025–2026 guidance changes, including the four-factor criminal-history framework and source-of-income protections in 24 states.
What's Inside
- Trust account three-way reconciliation worksheet for every property and owner ledger
- Property onboarding checklist covering agreements, condition reports and vendor authorizations
- Maintenance work-order margin log for tracking vendor cost and owner billing
- Worked revenue example at fifty doors, 10 percent management fee, with full cost breakdown
- Fair housing screening guidance current to HUD's 2025–2026 guidance changes
- Fee structure guidance: management fee, leasing fee, renewal fee and maintenance markup
- A 90-day plan built around licensing, trust account setup, and landlord association outreach
