They’re required by law if a property manager is holding funds belonging to another person. It’s not a grey area, it’s clear cut and easy to understand.
You’ll see property managers marketing that they’re using FDIC accounts, and that’s the same thing as advertising “I follow the law”. It shouldn’t be something that sets a property manager apart, it’s a general expectation that the property manager is following the law. That’s not too much to ask.
When you’re looking for a property manager in the Colorado Springs area, there are a lot to choose from. Don’t settle for one of these companies making it sound like they go above and beyond by following the law. Following the law is easy to do. Consider contacting us to see just how far we set ourselves apart from the competition.