This includes turning over pre-paid rent and security deposits to the new owner.

-prepayment charge on a prepaid amount over 20% of the original mortgage in any 12 month period, can only be a max of 6 months advance interest on that amount (over 20% of original mortgage).https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?

We have our own team of contractors we call when necessary.If a PMs sole job is to collect rent, then a pre-paid self addressed envelop is a whole lot cheaper than the almost $100 per house we currently pay.

Without that, the tenant can claim the old landlord was holding a deposit (and now you are responsible to return it) or that he prepaid rent for the next 5 years and it isn't his problem the old landlord didn't tell you.

I would make the security something to be settled between them as well as prepaid rents.

Good news is they came with several months of prepaid rent.

I caught it before escrow closed but it wasn't like the seller told me the tenant in that apartment had prepaid in advance.  

i was able to get abreak down on everything that made it more clear.loan fees orgination fees, recording fees all that good stuff are  $8, 850 really $8,100 because the appraisal was added into that amount  the other $4,031 fees are pre paid fees that im responsible for like my 12 month insurance policy , pre paid interest, and property tax. that i will get  half back once my escrow check gets sent to me. so  my closing cost is really $8,850.

My tenant (I manage the property) had prepaid 6 months of rent.  

Another option is have them get a NetSpend card or a similar prepaid debit card that allows ACH debits and they can use that with a payment service, such as PayPal or a rent payment service.