[RPPTL LandTen] Escrow and Rent Issues

[Harry Heist]

I just refused to work for a property management company who uses her attorney to hold all the tenant's Security Deposits and also has all rent deposited into their attorney's account. The attorney then disburses it to the owners and the property management company and charges them a fee for this.

 

In light of the Ira Hatch debacle http://www.verobeach32963.com/STORIES%202010/JANUARY/vb63_IraHatch_issue4_012110.html  I feel this is a poor idea and wonder whether it is even proper for the attorney to be receiving rents and disbursing as he does.  It sounds like a Trust Account nightmare. and in a sense, he is acting as a property manager presumably using his Trust Account.

 

The reason is that the property manager feels she is "safe" having the attorney handle the funds like this.

 

Thoughts?

 

Harry

 

 

LAW OFFICES OF 
HEIST, WEISSE, DAVIS & WOLK P.A.
PH: 1 800 253 8428
FAX: 1 800 367 9038
"Serving the Property Management Professional"
Website:  www.evict.com <http://www.evict.com/>  
Email: harry at evict.com

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