All Forum Posts by: Francis Poblete

Thank you all for the response. I have spoken with them and did a bit of research. The standard process of collecting rent goes from tenant to management company and then to landlord. I did not find any law or ordinance requiring management companies to divert from this standard. If the process were to be rent collected to owner/landlord and paying out the management fee, I think it would benefit me more as the landlord. 

Hello,

I am a 1st time landlord working with a local property management company in Maryland, USA for my 1st rental. I wanted to know if the practices of this management company for collecting rent is sound. I would like to hear about how others' experience with other property management companies are when it comes to collecting and sending the rent to the landlords.

I am about to sign a contract with this property management company. I opted for direct deposit for rent collection. The rent will go directly to me instead of the property management company/escrow. They have asked for my account # and routing number for direct deposit. They mentioned that in order to verify the bank account, 2 small amounts of $ will be deposited to the account and I would need to provide that back to them to confirm the account to deposit the rents to. It sounds like the same process when you add an external account within your bank. I'm wondering if this is okay and if there are any potential risks I should be aware of.

Thank you for all your help