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West Virginia Property Manager Audit Regulations

West Virginia Property Manager Audit Regulations

Security Deposits

There is no maximum for security deposits. Security Deposit must be returned within 65 days after a tenant moves or within 45 days of occupancy of a subsequent tenant, whichever is shorter, though an additional 15 days is allowed if the landlord must hire a contractor to fix damage exceeding the amount of the security deposit and sets other restrictions on deposits.

https://www.nolo.com/legal-encyclopedia/overview-landlord-tenant-laws-west-virginia.html

Bank Reconciliation

In order to stay compliant with the State of West Virginia Real Estate Commission, it is recommended that you reconcile monthly.

http://rec.wv.gov/Forms/Documents/Trust%20Fund%20Account.pdf

 

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