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Updated about 11 years ago,
Firing a PM
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 ).