Can pm take a fee in advance for the last month that the tenant deposited (together with the security deposit)…

Responses

1. 

   Ron Kahat December 12

   Dudi Elias Ronnie Shoua
   Thanks for the answers, that's not exactly what I meant, I probably didn't explain myself well,
   I'll just tell the case:

   I asked the new tenant for the contract status to bring:
   Securitic diphosphate
   Rent's first month
   Last month's rent

   For the sake of simplicity, the rent is $ 1000.
   The property manager's (PM) salary is ten percent of the monthly rent, each month.

   The money came in, the tenant inside, everything went well.

   After a few days, I notice that the property manager has taken his commission twice, for the first and last month the tenant paid for the contract.

   To me it sounds weird, because I pay for the service he gives the apartment a month shaft, why do I have to pay him a year in advance for a month I do not know for sure I will need a property manager at all (if the tenant left by then or sell the apartment or any other reason…).

   The reason I ask for the last month in advance from the tenant is to have a broader confidence ash if the tenant suddenly leaves or damage the apartment.

   I'd love to hear your opinion 🙂

2. 

   Ronnie Shoua December 12

   As the owner of a management company (in Florida) and as a real estate agent (in Florida) I will answer you in one word; No, and in two words no and no. Any payment transferred to an ESCROW type account, the account must be of the "deposit account without interest" type...... If the management company / broker wishes to deposit into an account that bears interest, then he is obliged to sign the payer of the check that he is aware of this and at the end of a period he is also obliged to part with it with accrued interest. ….. It is a serious offense that many times landlords who refuse to return ESCROW payments find themselves in a problem when they do not return a deposit to the tenant and they do not notify this legally (about making a payment). or 3 or 5 deposited in an interest-free bank account that is not defined as a private or business account and does not bear interest.... 99.95% of the landlords will not do this and therefore they automatically lose a lawsuit and the court will oblige them to pay full interest to the former tenant.... Another interesting point that I will tell on the real estate side: every day we are involved in the purchase / sale of real estate assets in the millions of $$ $ … all the deposits of the advances are deposited in an interest free ESCROW account …, I hope I gave you a complete answer.

3. 

   Dudi Elias December 12

   A management company can do everything in the contract you signed. It is customary that the management company charges 50-100% of the monthly rent for the occupancy of a property by Security and Security Deposit, if the management company is also Brokerage. If not, the management company will transfer the Security Deposit to the property owner and will have to repay this amount to the tenant when the lease ends. Hope I answered your question ..