Property Manager Fees Questions???

[Terry A.]

We are under contract with our first property and will be using a management company.  We are out of state with the property being in Georgia and will be getting an 8% fee. I have a few questions on other portion of the contract. 

1. Is it standard for them to hold the renters deposit and collect the interest gained from that?

2. Is it standard for them to keep the late fee that is charged to the renter or should that go to me?

Thanks for any advice or feedback.