General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 12 years ago,
PM has non-negotiable lease?
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!