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Updated about 12 years ago on . Most recent reply

User Stats

342
Posts
56
Votes
Amie D.
  • SFR Investor
  • South Bend, IN
56
Votes |
342
Posts

PM has non-negotiable lease?

Amie D.
  • SFR Investor
  • South Bend, IN
Posted

I just interviewed a property manager on the phone (I am out of state) and asked him if he could email a copy of his management agreement and lease so I could review them. He said he could send the management agreement, but they don't send out the lease as that is their property and private to them.

I asked if I agreed to go with them and signed their management agreement, would I be able to review the lease at that time? He said OK, but when I asked if things were changeable if I didn't agree to something in the lease, he said No. He said he can assure me that their lease is lawyer reviewed and bullet-proof in that county (I am out of town) so they don't change anything. I asked if I could add an addendum for policies I typically have in my rentals, and he said yes, but then seemed negative on things I said I might want to add.

I would be hesitant to sign an agreement without seeing the lease in advance. Does this policy seem odd?

I guess the other option would be to create my own lease specific to that state/county (if they would even use that), but I am not as familiar with the laws out there and I'm guessing I would have to go through the expense of an attorney to draw one up (?). For my other two properties, I have just used the lease of the PM company, as they have been in business many years and would be familiar with the regulations for their specific states/counties. However, they have let me review in advance, ask questions, add a few things (lawn care is tenant's responsibility, for example) and have addendum specific to the property if I want. If I am going about this incorrectly in using their leases to begin with - would appreciate thoughts on that too. Thanks!

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