Legal Question in Real Estate Law in Virginia

Re: Withholding funds

Well, I don't understand. I assume you have a contract with him (or it if it is a company)?

If you don't have a contract, then you would simply want to fire him and get another one.

I might know a guy.... around Hampton.

If you DO have a contract -- which is I assume why you feel stuck, then of course he must follow the contract. If he is not following the contract, then again you can fire him and get another person to do it instead.

But I assume that you have a contract and it doesn't say anything about this topic, or you would not be asking the question.

If the contract is silent on WHEN he has to pay you the money collected ,then I think two things would govern (a) what is TYPICAL in the industry and (b) what is reasonable in general.

While he may want to wait to see if checks clear, 3 weeks is objectively unreasonable. That is, there is no valid business reason for waiting longer than it takes for checks to clear to see if they are "good."

I do not know the industry, but I would hazard a guess that it is NOT normal for property managers to hold money for 3 weeks.

So -- if my guesstimates are correct on that -- you would treat this as a breach of contract, and again inform him that the contract is cancelled (although he may have the chance to "cure" it by doing better after you provide notice).

So, again, your greatest recourse is to find someone more reasonable and responsible to do it instead.