PM Termination Fees = Robbery

[Yoochul C.]

Just found out that through a buddy of mine (and other research from asking other PM's) that these PM's charge an exit fee or termination fee to get out of a contract.  Sometimes these fees can be very aggressive. Even to the point where they'll charge a fee to escape a contract for a vacant home if they just barely started the advertising process.  These fees could run up to hundreds if not thousands of dollars.  Sure, I can see some expense in advertising your place for rent however its not like its a wireless carrier charging you an exit fee because they incur fees to give you a phone at a discounted price.  There is not an underlying cost to rent out your home other than advertising and personnel.  

I really think these exit fees are for purposes of forcing people to stay with a PM with crappy service.  If your PM is that good and has great service, I can't see why they would charge an exit fee.  

I will not do business personally with a PM that has crazy exit fees.  Let your service do the talking.  

I'd like to hear some of your crazy fees that you incurred to exit a crappy PM.

Rant over.
Yooch

[Nathan Miller]

I like to follow the same principals.  A business should be re-earning their clients business every single month.  I see this happen a lot with our competitors, their sales people are very good and require 12 month terms and once the client gets into it they find out the product stinks, yet they are stuck on a 12 month contract and it costs too much to exit.  It's a sneaky tactic used by so many these days.  I applaud the companies that resist and just go month-to-month.  Keep your clients by providing excellent service rather than through language in a contract.