6c1c7539_Georgia_Real_Estate_Infobase__2
[1] (c) [2] 
RENTS - Monies collected from tenants of property not owned individually by the broker. A broker who manages rental property for an owner collects rent from tenants. Those rents are a source of trust funds to be held for the owner. Often, the owner authorizes the broker to pay expenses of the property from the rent collected and then either to remit the balance of the funds to the owner or to maintain the funds in reserve for future expenses. Sometimes under the provisions of a sales contract, a buyer moves into a property before closing or a seller remains in a property after closing and the broker collects the rent on behalf of the other party. In all these situations, the broker must handle the funds through a trust account.
Georgia Real Estate Infobase
2