Texas Property Managers law to keep late fee
Hello All,
Does anyone know if there is a Texas law that states all late fees must go to the property managers? We are using a property manager in San Antonio that has collected $200 a month in late fees from our renters for a year and a half off a property I own. The property manager has advised us there is such a law but I can't find a reference to it. It seems there is no incentive to enforce tenants to pay on time if there is such a law.
Thank you for any help.