Is it normal for a management company to withhold repaid rent?

[Aaron Xie]

Good morning, BP fellows.

I have a rental property in Indianapolis managed by a big PM company. They tell me that the tenant has paid three months rent in advance. However, they have to withhold the extra two months' rent and transfer when the months come.

This scenario is not covered in the contract. So I am wondering if this is the industry standard? Thanks in advance.