Who gets late fees collected by property manager?

[Matt F.]

For those of you using a property manager, if there is a late fee assessed for late rent does your property manager keep that fee or remit that to you? My tenants were late and a 50 dollar fee assessed and I was surprised when the 50 fee was kept by the management company. I am the one who received my rent later not the Mgmt company is this just part of the property management model?? Thanks

[Katherine S.]

Seems to me that the PM keeping the late fees could become an incentive for not collection rents on time.