Do you have to keep property management when buying property?

[Junior Shay]

Hello,

planning on purchasing multi family property (2-4) units soon but not sure if I have to keep property management company?! Is that something I can cancel after purchase or i have to keep it?  If I don’t keep it is there a fee? Because technically most of the time tenants are found through management company so I’m not sure how it works. 

[Dick Rosen]

A property manager is hired and contracted with the property owner. When that Owner sells the property to you, the Managers contract is Null and Void. That manager may be a good resource for you but if you wanted to keep them you would have to contract with them yourself, they do not follow the property.