A property manager collecting rents for six individual rental units is REQUIRED to have a minimum of?

In New Mexico, property managers who handle rent for multiple rental units are required to maintain a property management trust account. This account is essential because it ensures that tenant deposits and rents are handled in a manner that complies with state laws, safeguarding both the landlord's and the tenants' funds.

The law mandates that funds collected from tenants, like security deposits and rent payments, must be kept in a trust account to prevent commingling with the property manager’s personal funds. By having at least one property management trust account, the property manager can adequately manage and account for these funds to avoid any legal issues.

Other options, such as a special trust account or custodial account, are not specified requirements under New Mexico's real estate regulations. Moreover, while the idea of having six individual property management trust accounts might appear logical for managing each unit separately, it is not a standard requirement or practice, making one designated trust account sufficient. This structure streamlines record-keeping and simplifies the financial management process for property managers handling multiple rental properties.