Prop manager is withholding full years rent

[Rachel Chioreanu]

Hi I recently had a tenant pay a full year rent upfront. Now my prop manager is saying he can only pay me monthly and not give me the full years rent as it is not legal. I have done zero research into this but figured I’d start here. Any insight?

[Adam Bartomeo]

The property manager is RIGHT!!! This is advanced rent and is treated similar to a security deposit. It get held in an account along with the security deposit and each month the monthly portion can be released. 

@John Underwood @Bruce Woodruff Also, in most states you cannot keep 100% of the interest. Specifically in FL you can only keep 25% of the interest with the remainder going to the tenant. BTW the 25% wouldn't go to the owner it would go to the PM.