Changing PM Mid Lease

[Shepherd Chou]

Hello!

I am really hoping someone can offer some guidance and point me in the right direction.

My contract with our PM was terminated with 3 months left on the lease. We are considering selling the property once the lease in up so I decided not hire another PM and manage the property myself. The current lease has both the name of the PM and his company on it with instructions to deliver the rent to his office, and the tenants didn't seem too please when I told them we are not getting a new PM and I was going to do it myself.

I already started the process of transferring the security deposit to another escrow account, and I really just want to reach an amicable agreement with the tenants for the next 90 days with no room for any kind of legal vulnerabilities for us. What are some steps I can take to make sure the tenants are happy and we are protected? Any advice offer would be awesome and much appreciated!