management company holding funds until checkout

[Dennis Nikolaev]

I'm new to the short term rental game.
I signed a contract with a management company but somehow I didn't catch that they were going to release the funds only after the guests check out + 15 days next month.

Is is normal? It doesn't sit well with me that they hold all of the cash. If they go belly up. there goes all my cash. That gives them way more leverage over me then I'm comfortable.

Should I find a new manager?

[Leslie Anne Morris]

I own a property management company in the Smoky Mountains and it is common for us to close out the month’s books before paying owners. 15 days is a lot though into the next month.