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Prorated Rent Owed After Closing

Purchased and closed on a investment property June 6th.

Seller collected all of June rent on the 1st (makes sense).

However, as of today, seller has failed to do 2 things:

  1. Pay tenants their security deposits back or, forward the security deposits to me (new landlord).

  2. Fail to pay me the prorated amount for June rent. Easy math:

Rent each month collected in total is $30, so seller should keep $5 and should send me $25; the prorated rent, based on the closing date and when the property is now under my name.

Am I wrong for thinking this? The seller said he had to pay the mortgage on June 1st so he is entitled for the entire $30. However, his bank should pay him back the prorated amount for when he sold the property (June 6th).

submitted by /u/Old_Claim_5500
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1n0b2g7/prorated_rent_owed_after_closing/
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