Thoughts on these fees from a Property Manager?

[Patrick Shawn Faherty]

I just received and "updated Property Management Agreement and was curious if these fees, etc. seem normal.  I'm new to this as I currently only have one rental property. Thanks it advance.

• Manager agrees to maintain, and to repair Owner’s property/properties and to hire and to supervise all employees and other needed labor. Manager does not need prior approval from Owner, unless the cost to repair shall exceed $500, for any single repair to any single property in which Manager shall get verbal or written or electronic notice from Owner to do so. 
• The PM will remit any net funds collected by manager to Owner by the 25TH of the month.
• Owner agrees that if manager is responsible for collecting water on behalf of the tenants. The manager will collect an annual fee of $125 per unit for providing this service. 
• Upon the return of security deposit to tenant. The manager will keep a $250 security deposit disposition fee. If your tenant is returned the security this will be paid by the tenant. If you tenant has forfeited the security or any amounts of it this will be held from the owner as compensation to the manager.
• Manager shall keep any late fees collected as compensation for additional services rendered
• Owner shall pay a one-time $200 transfer fee per property if the property is occupied when Manager assumes management duties.
• The owner is required to keep a $500 capital maintenance reserve at all times. The owner may wire the manager this $500. In the event this is not sent to the manager, the manager may withhold from owners’ rents.

[Matt Clark]

@Patrick Shawn Faherty I echo the thought that you should keep looking.  I notice that you are in Virginia, and I'll make the assumption that this property manager is also.  To deduct a "security deposit disposition fee" from a tenant's security deposit refund would be a violation of the Virginia Residential Landlord and Tenant Act.  I find it concerning that a property manager would think this is ok.