| Word | Description |
| Tenant Ledger | The Tenant Ledger on a lease allows you to view a history of all charges, payments, refunds, and adjustments on your tenant's account, as well as the current balance and any future Auto Charges that are set to post, based on any Active Auto Charges you have set up on that tenant's actual Lease or on the Lease Form used to create their Lease. |
| Trust Account | A trust account is a fiduciary account established to hold funds that belong to another party. The California Department of Real Estate defines trust funds as "money or other things of value that are received by a broker or salesperson on behalf of a principal or any other person, and which are held for the benefit of others in the performance of any acts for which a real estate license is required." The laws governing trust funds usually apply to all licensed real estate professionals and are administered by the state licensing agency. In most states, all funds belonging to building owners and security deposits received from tenants must be placed in a trust account. Generally any funds that a property manager collects that have to do with an owner's property should be put into the trust account. Generally funds such as management fees, and deposits from broker-owned real estate should not be deposited into owner trust accounts and should never be commingled with owners' trust funds. Trust funds generally must be kept in a federally insured back or savings and loan association located within the state. |