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I have a broker who manages a rental property for me in Colorado. The tenant has paid me for 3 months rent plus security deposit. The property management company has only given me one months rent and said the rest is in escrow. I feel I should have the remaining forward rent. What is true?
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This depends on the contract that you have with your property manager. Although, most property managers do not want to hold that much money because it is a risk and liability for them. Also, if your property manager takes your money and runs, you are on the hook for repayment to your tenant.
Good luck!
Answered on Oct 23rd, 2013 at 5:05 PM
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