Updated about 8 years ago on . Most recent reply
Advanced Rent Payment
If a tenant pays rent in advance, equal to a few months, does your PM have the right to keep the advanced payment and distribute to the owner the amount due each month. In essence the PM is keeping the money in their account collecting interest and then each month taking out what is due to the owner and distributing it. if it's not spelled out in the management agreement, can they legally keep that money in their account ?