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Updated over 3 years ago,
Tenant paid lease in full and property management is keeping it
I have a renter who paid $17000 to my property manager to cover their remaining lease, but the property manager is holding the money rather than sending it to me. I understand that they will need to retain their monthly fees and have money for minor repairs throughout the lease, but is it normal for them to hold onto it all and pay me rent in monthly installments? Who gets to keep the interest on all of this money as it sits in the property manager's account?