[RPPTL LandTen] Nagging Question

Mon Aug 21 09:05:00 PDT 2017

I agree with you Carey.

The problem is that tenants are so fearful of misuse of the deposit they directly tell the fired agent not to give to the owner.

Is this a conflicting demand where the fired agent should be concerned?

Harry

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From: landten-bounces at lists.flabarrpptl.org [mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of Cary P. Sabol, Esq.
Sent: Monday, August 21, 2017 11:49 AM
To: RPPTL Landlord Tenant Committee
Subject: Re: [RPPTL LandTen] Nagging Question

Harry,

I've always taken the position it is an "obvious yes."  I don't know of anything in the statute that requires the landlord to retain the deposits in the exact same account or preventing the deposit holder from changing.  I believe the intent of the statute is simply to ensure the deposits are properly held in escrow and not commingled.

In addtion, 83.49(2) says:  "The landlord shall, in the lease agreement or within 30 days after receipt of advance rent or a security deposit, give written notice to the tenant which includes disclosure of the advance rent or security deposit. Subsequent to providing such written notice, if the landlord changes the manner or location in which he or she is holding the advance rent or security deposit, he or she must notify the tenant within 30 days after the change as provided in paragraphs (a)-(d). The landlord is not required to give new or additional notice solely because the depository has merged with another financial institution, changed its name, or transferred ownership to a different financial institution."

I also believe the term "new agent" in the section you cited can also mean the owner.  No reason an owner cannot be his or her own agent.  I can't imagine a court imposing any liability for an owner receiving (assuming he or she properly places it in an escrow account) for receiving their deposit from a fired property manager.

That's my two cents, open to other opinions.

Cary

Cary P. Sabol, Esq. J.D. (2001), LLM (2009)

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-------- Original Message --------
Subject: [RPPTL LandTen] Nagging Question
From: "Harry Heist" < <mailto:harry at evict.com> harry at evict.com>
Date: Mon, August 21, 2017 11:25 am
To: "'RPPTL Landlord Tenant Committee'" < <mailto:landten at lists.flabarrpptl.org> landten at lists.flabarrpptl.org>

Can a property manager who is fired, transfer the security deposit to the CURRENT OWNER?

Do you all think that this is just an obvious “Yes”?

If you carefully look at the law, it is in question.  This could just be sloppy drafting of the law.

The law clearly says “NEW OWNER”, “NEW AGENT” but does NOT address when an owner will be managing.

This issue come up a LOT and if you ask the tenant for PERMISSION to transfer, MANY do not want to give this permission so the agent who no longer manages is stuck holding the funds.

(7)  Upon the sale or transfer of title of the rental property from one owner to another, or upon a change in the designated rental agent, any and all security deposits or advance rents being held for the benefit of the tenants shall be transferred to the new owner or agent, together with any earned interest and with an accurate accounting showing the amounts to be credited to each tenant account. Upon the transfer of such funds and records to the new owner or agent, and upon transmittal of a written receipt therefor, the transferor is free from the obligation imposed in subsection (1) to hold such moneys on behalf of the tenant. There is a rebuttable presumption that any new owner or agent received the security deposit from the previous owner or agent; however, this presumption is limited to 1 month's rent. This subsection does not excuse the landlord or agent for a violation of other provisions of this section while in possession of such deposits.   

Harry

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

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