Frequently Asked Question by Current Owners
Must I maintain reserves in a Trust Account?
We do require a reserve to be maintained in our Trust Account. We do this in effort to ensure that there are enough funds available to properly manage service issues and emergency repairs.
What is a Trust Account?
A Trust Account is a bank account maintained at an insured California Bank. The account is not an asset of Valley Vista Properties. The California Real Estate Commission sets the standards for Trust Accounts in the California Bureau of Real Estate Guidelines.
What happens to the security deposit from my resident?
All residents security deposits are held in our Trust Account.
How do I pay my management fees?
Management fees are deducted from your gross monthly rent.
When do you send out yearly 1099s?
Typically, 1099s are sent out the first week of January, but in no case later than January 31 of each year.