Homeowner & Prop. Mgmt. Contract Terms

[Bailey A.]

Hi guys,

I’ve just about finished my property and have been looking around for management companies to take over and needed some qualified advice. Is it typical for the contract between a homeowner and the company to be one-year with the added clause that if I terminate the contract early because it doesn’t work out that I owe them their dues they would’ve received for the remaining time of the lease?

I remember hearing on a podcast to be weary of yearly contracts but wanted to get your advice. In particular, I’m looking for advice from property managers themselves. Thanks a bunch!

P.S. if there are things specifically to AVOID in a contract please let me know. I’m brand new to this and wanted to make the best decision possible.