On that note, what are the terms in the contract with your PM for termination? I would assume they have X days to give you all your funds less their fees back.
PM's have real estate licenses with the Dept of Real Estate in CA. If they improperly handle funds entrusted to them there are SIGNIFICANT consequences. It is reasonable for you to ask for the net (after PM's monthly fee) rent check. It is reasonable for you to ask for the initial rental deposit. If your PM will not do that (see if you can get that in writing), it's your decision, but I'd let them know you will be forced to take action.
If they still don't release YOUR funds, and you've educated yourself on the termination terms of your agreement with them... fire them, if you still don't get your funds in the timeframes specified in the contract for post termination... hire an attorney. I can recommend a couple to you.
You could hire an attorney now, but if it was me, I'd try the first couple steps I outlined above 1st.
If you'd like to talk further with me, call. Once we've talked, it might even make sense for me to call them at certain key steps in the process.
Sounds crazy, if I've got the picture right! A property manager withholding your income from you and essentially saying, "we won't let you use rent $'s to do the repairs"?
The damages should come out of the deposit. If you had a lease agreement it should state this. If damages exceed the deposit you will need to contact an attorney to take the tanants to court or submit a letter of damages with option to pay or court. All states are different, if this home is in Alabama contact a real estate attorney.
You could take them to small claims court if they continue not to pay for damages and you feel an attorney is to expensive. Get everything in writing, document letters, calls, voicemails, text message, receipts of all the fixed items, along with the lease agreement and the damages with the pictures.
Denise A. Szyszlo Realtor
Office:: (408) 369-2000 x319
Mobile: (408) 768-7097
Realty World/Blue Property Group
This is a legal issue that is governed by the law of the State of Alabama, and is also governed by the local laws of the city where the property is located.
I recommend that you contact an Attorney in Alabama who has a geat deal of experience with Real Estate law.