C Michael Sundius
when the property manager keeps the late fees
as frustrating as this is. it really brings up an interesting question when the owner doesn't get a share of the late fee.say the rent is $100 and the late fee is $10. in january the tenant is late but pays $100 rent....
Jonathan H.
Property managers keep late fees & security deposits?
We are investing in the greater Seattle area and have been interviewing property managers. I've been surprised that many managers say they will collect AND retain all late fees, pet fees, as well as 50-100% of any ret...
Emily Powell
Who Keeps Pet Fees? Landlord or Property Manager?
BP Hivemind. My PM has the following language in tenant leases. They, however, keep the monthly fee of $25 per month. Based on the below language, would you agree that they should be keeping this $? Clearly, I don...
Marshall Hooper
PM is keeping security deposits rather than charging monthly fee
I'm looking into buying a portfolio of duplexes and when I asked what the PM fee was, the owner told me that the PM keeps the security deposits as her compensation instead of charging him a monthly fee. He also said s...
Edita D.
Late Fees: does your property management get to keep it all?
Hey guys!According to an agreement with our PM, they get to keep all the late fees that incur if tenant doesn't pay rent on time. Would you have accepted that paragraph in the contract?Thanks!
Andrew Smith
Is it standard for property managers to keep any late fees?
I'm looking to hire a new property manager and they seem to want to keep any late fees if the tenant pays rent late. Is this the norm? It seems unfair to me that if I get paid late they keep all the late penalties
Eric Selhorn
401K Vs Real Estate Investing for 20 Year Olds
Disclaimer: All investment strategies and investments involve risk of loss. Nothing discussed below should be construed as investment advice.
So, you’re in your 20s, have a job and are finally making some money on yo...
Frank S.
Qualified tenant changes her mind. Can I keep the move-in fee?
Hey,Here is a question related to move-in fees. I had screened and approved a tenant for August 1st. I notified the applicant of the approval, received the move-in fee, approved the application, and after I sent th...
Anna Sam
Talking to property management companies. do they get to keep late fees?
Hi I am talking to property management companies to manage a property I own in central florida. One of them had a clause in their agreement that they get to keep the late fees. I thought that was pretty weird since th...
Joseph Hernandez
How to Keep End Buyer from Disclosing my Wholesale fee to Buyer?
Hello. I'm a newbie wholesaler. I will be targeting pre-foreclosures. If my assignment fee is 30k, how can I prevent the end buyer from disclosing my assignment fee to the seller? I think it's very difficult, if not i...