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Updated 6 months ago on . Most recent reply

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Chris G.
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131
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How to add an addendum on current owners management agreement?

Chris G.
Posted

I was looking to add a new section on current owners management agreements and new agreements regarding an additional charge. I noticed other companies charge the owner a fee like a $100 admin fee or something if we take over a property with a tenant the owner put in place and then have to evict them after a month to two later. I know on resident leases you can add a new addendum on the lease at renewal time but our management agreements don't expire they continue forever essentially unless either party gives a notice to terminate. How would we go about adding this on there in FL? Is it even possible to do or would they have to sign a whole new document?

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Drew Sygit
#1 Multi-Family and Apartment Investing Contributor
  • Property Manager
  • Royal Oak, MI
5,527
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8,891
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Drew Sygit
#1 Multi-Family and Apartment Investing Contributor
  • Property Manager
  • Royal Oak, MI
Replied

@Chris G. any contract can be modified if all parties agree and sign it.

Otherwise, your contract should have a renewal period or notice period with which either party can cancel. These can also be used to modify it.

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Logical Property Management.
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