when the property manager keeps the late fees
as frustrating as this is. it really brings up an interesting question when the owner doesn't get a share of the late fee.
say the rent is $100 and the late fee is $10. in january the tenant is late but pays $100 rent. who gets how much?
does the owner get the whole $100? or does the owner get $90 and the pm get $10?
if the owner gets the whole amount.. then what happens in february when the tenant again pays $100 and ignores the late fee?
can the property manager evict for unpaid fees? I don't think so. what is there to keep the tenant from just ignoring the late fee?
Finally. say the tenant ignores the late fee and only ever pays the rent but not the late fee.. (say he's regularly late). then can the owner demand that he is paid his full rent?
mike