Most property managers assume their trust accounts are compliant—until something goes wrong. From audits to lawsuits to bank failures, it’s easy to assume your banking setup is airtight… but if your account simply says “trust” on it and that’s where the due diligence ends, your business (and your clients’ funds) could be at serious risk.
At PMAssist, we’ve worked with dozens of consulting clients across the country, and one thing has become painfully clear: nearly every property manager banking outside of Enterprise Bank & Trust is unknowingly non-compliant.
In Todd’s latest Substack article, he walks through:
What makes a true trust account (and why most banks fake it)
The legal and financial risks of getting this wrong
Why Enterprise Bank & Trust stands apart—and how it’s saving PMs thousands a month with invoice credits
Real talk on banking products, lending practices, and how to avoid illegal collateral traps
If you’re still banking with a major consumer bank or a flashy startup that claims to serve PMs, you need to read this.
👉 Read the full breakdown on Substack:
https://pmassist.substack.com
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