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I am with Weg. Property management is more than collecting the rent, it is about ensuring repairs are done and the property is well maintained. The contract says PM's are paid for Property Management, and that fee is simply based on the rental amount. It seems irrelevant when rental money...

Is the PM going to pay your rent all up front too? If not, tell him they are dreaming....I think you will find the contract says PM gets paid monthly - and is unrelated to when the tenant pays the rent.