Regardless if you have a property manager or where they send the money, you pay your property manager for their services. It doesn't change the fact that you did not have 'constructive receipt', access to use as you wish until 2025.
- IRS PLR-110663-99 - also provides instruction on 'constructive receipt'
- Section 1.451-2(a) of the regulations provides that income, which is not actually reduced to a taxpayer's possession is constructively received by the taxpayer in the taxable year during which it is credited to the taxpayer's account set apart for the taxpayer, or otherwise made available so that the taxpayer may draw on it at any time, or so that the taxpayer could have drawn on it during the taxable year if notice of intention to withdraw had been given. However, income is not constructively received if the taxpayer's control of its receipt is subject to substantial limitations or restrictions.
- IRS Publication 538 - Also explains it as you see in the link provided above. However, the key phrase is 'Income is not constructively received if your control of its receipt is subject to substantial restrictions or limitations.'
- You did not have this type of access to the money, even though it was released/forwarded in 2024.
In the end, you can decide when you report it, however my advice is to include it when you actually had receipt and control which was 2025.
@gm-71003
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