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I recently purchased a four-plex on August 29th.?

On Sept. 1st, I signed a contract with a property management company. The contract states I will be paid my share of the rent on the tenth of each month. The property management company charges 8% to manage the property. Today, I called and asked when I would be paid and was told that I wouldn't be paid until October 10th. I believe I should have been paid on the tenth of September.

My reasoning is that rent is always pre-paid. I have always pre-paid my rent in every apartment I have lived in.

Who do you believe is correct? The property management company or me?

Thank you for your input.

Update:

Note, the property management did not find the tenants. The four-plex was completely rented out when I signed a contract with them.

2 Answers

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  • 8 years ago
    Favorite Answer

    You

    But check your contract carefully

    If agent found the tenants, they usually take first months rent

    If tenants were in place, real estate not entitled

    Source(s): Real estate investor
  • 8 years ago

    The property management company is correct.

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