General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago,
On site manager termination
Hi everyone
Just began pursuing an interest in property management.
Currently, in one of our newly acquired multi-family locations, we have an on-site manage that's been in place for 8 months. The manager had an arrangement with the previous owner to get a specific discount on their rent in exchange for a couple "house chores".
We don't require an on-site manager but I'm unclear on how I can terminate the previous agreement legally. The manager has a month to month agreement. My guess is just giving them 60 day notice that the agreement is terminated but not residency. I'd just like clarification or verification.
Thank you!