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Vermont Property Manager Audit Regulations

Vermont Property Manager Audit Regulations

Security Deposits

There is no maximum for security deposits. A landlord shall return the security deposit along with a written statement itemizing any deductions to a tenant within 14 days from the date on which the landlord discovers that the tenant vacated or abandoned the dwelling unit, or the date the tenant vacated the dwelling unit, provided the landlord received notice from the tenant of that date. In the case of the seasonal occupancy and rental of a dwelling unit not intended as a primary residence, the security deposit and written statement shall be returned within 60 days.

https://legislature.vermont.gov/statutes/section/09/137/04461

Bank Reconciliation

In order to stay in compliance with the Vermont Real Estate Comission, it is recommended to reconcile Trust Accounts monthly.

https://www.sec.state.vt.us/media/721629/rec-adopted-rules-eff-dec-1-2015.pdf

 

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