Residential Property Management/property manger

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Question
Our property manager was "let go" do to issues that are too numerous to go into.  We hired a new one and the change off was to be the last day of the month.  Both myself and the new property manager were told after weeks of trying to get information from the manager, that she would have the tenants deposits to the new property management company the last day of the month before close of business.  She did not do that and will not respond to text, calls or e-mails.   Who is liable for the deposit if she does not finally turn it over?

Answer
Since you are the landlord, most likely you would be the primary responsible person to your tenant for the security deposit. However, you would certainly have legal recourse against the property manager if they were holding those funds on your behalf. I suggest sending a certified letter demanding the return of the deposit. If no response, then you may have to sue, and also could probably file an action against their license. Best of luck.

Residential Property Management

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Mike Fortunato

Expertise

Very familiar with all aspects of property management (tenant/landlord issues, lease administration, facilities maintenance, financials, etc). 25+ years in property management

Experience

I have been in real estate management for 25+ years, both residential and commercial properties. Currently own and operate a commercial and residential real estate management company in southern California.

Organizations
IREM; BOMA; MLS; National Association of Realtors; California Association of Realtors

Education/Credentials
CPM (Certified Property Manager) and RPA (Real Property Administrator)

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