General Property manager do's and don'ts

[John E]

Nevada.
The deposite was held due to the Tenants repair requirements, the owner effected repairs. Is the property manager entitled to retain the deposite. Likewise with the ballance left in the owners account with the property manager. If the Owner severed ties with the property manager, who should
be entitled to the remaining funds. If the property manager does not cooperate, what dept within the state consumer affairs address issues such as this.

John EWhat is the name of your state (only U.S. law)?

 

[FarmerJ]

Pm doesnt have the right to just hold funds that were collected for owner if the contract is over and not renewed unless the contract lays out fees for early termination by owners or any amounts owed to PM as being taken from the funds the PM is holding. If repairs were made by owner and paid for by owner PM firm may only hold from tenant the amount of the repairs and i would think they would have to forward that money to the LL ,what does the contract say about it if anything ? BTW if the PM contract was just not renewed and they do not disburse to the LL tenant funds the LL will have to sue them for it. (doesnt the contract state a time frame for disbursements ?)