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Updated over 14 years ago,
Property Managemen agreement question
A quick question on my management agreement from Property Management company.
I spoke with the owner of the company and feel pretty comfortable working with them. I just wanted to run by some of the specifics of the contract with someone who has more experience. This will be my first time working with a management company.
8% of total rents per month
1/2 first months rent to find tenants
Will contact me if repairs needed are over 200 dollars.
The one question I have is: that they included a clause that when the lease is renewed there is a 250 dollar fee, even if the same tenant remains.
Is that normal?
And anything additional I should look out for in the management agreement?