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Updated over 2 years ago,
Can PM Company legally charge tenant monthly administrative Fees
I have a general question about Management Agreement :-
Can Property Management Company legally charge tenant MONTHLY administrative Fees for Pets. There is a one-time non refundable deposit (administrative fee) per pet that goes to the Property Management company and then a MONTHLY administrative fee charged per pet for a MAX OF 3 PETS. This ADMINISTRATIVE FEE goes directly to the Property Managers. Owner/landlord doesn't get a distribution, but a clause in the management agreement states "Broker provides a $750 Pet Damage Guarantee to Owner and collects Pet Administrative Fees from tenants in order to cover the cost of this guarantee." with a condition that Owner should use PM's contractor for rent ready repairs.
Is this valid/legal given that landlord is ultimately responsible for all repairs/fixes to the property. Please let me know your thoughts on this.