Security Deposit

[pnda7777]

We have a rental property that we rent out and just found tenants to rent for another year. We hired a property manangment company to run it for us. The tenants sent them a security deposit. We asked to have the check sent to us once he recieved it. He said they need to keep it. With our past companies they always forwarded to us to hold. Is this standard procedure?

 

[Michael Wechsler]

What's your relationship and why are they holding it? Figure out what the relationship is between the two of you and how you plan to do business. If you have an agreement, look at it for their right to do as they claimed.