How many days does a licensee have to send a final accounting to the owner after a management agreement is terminated?

The correct duration for a licensee to send a final accounting to the owner after a management agreement is terminated is 60 days. This timeline is stipulated in regulations to ensure that the owner receives a complete and accurate account of all financial transactions related to the management of the property.

This period allows sufficient time for the licensee to gather all necessary financial records, reconcile accounts, and prepare a final report that reflects the status of the owner's funds and any outstanding obligations. Prompt and transparent communication regarding financial matters is essential in maintaining trust and professionalism in property management. Delaying beyond this timeframe could lead to disputes or questions from the property owner regarding the management of their assets.