Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 11 years ago on . Most recent reply

User Stats

40
Posts
0
Votes
S. Perry
  • Central, OH
0
Votes |
40
Posts

Firing a PM

S. Perry
  • Central, OH
Posted

I may be firing my PM company. No tenant in home. Contract states either party can terminate the agreement with a 30 day notice. What is concerning is I may be liable for paying them first months rent *IF* I place a tenant in the home within those 30 days (or another PM company does which would mean I would be paying double fees of 1st months rent-common in my area)... I *think* this is how I am reading the contract:

Paraphrasing a bit here...

Agreement may be terminated with at least a 30 day notice (written) with intent to terminate on specific date. The termination of this agreement shall not affect the right of the manager to receive leasing commissions or fees which have accrued up to termination date.

I suppose their fees could be avoided if I were to give notice on Nov. 30th and then don't place a tenant in the home until Jan 1st. 30 days would play out in Dec. (or similar ).

Loading replies...