Property Management - Is a sale considered a termination?

[Gordon Way]

Hey BP-

I just sold a quadplex and my PM is considering the sale as a termination of the agreement for that property. I have 25+ units with them so this is a master agreement with lots of properties on it. I have added a picture of two section of the MA. They didn't have any selections checked for section H Fees in the Event of a Sale. They do however state that if I was to terminate the agreement (part or whole) that I owe the greater of $500 or their management fee for the remainder month's of in place tenants' leases. 

I'm interested how other REI view or have experienced this dilemma of words. Does the sale constitute a termination? Seems like there is a whole section of the MA that deals with sales and they opted out of any of them. Thanks and happy investing!

[Samuel Proctor]

I worked directly with owners for a year under a property manager and we considered the sale of the property a mutual agreement to end the relationship - no fees were charged. We obviously would take a commission if the buyer was another owner of ours or if the tenant purchased the home as your agreement says. Apart from my opinion, it seems like you don't owe anything considering they did not select a fee for sale of the property. Sale of the property and termination are different; as defined by them since they separated them in the contract (not an attorney, just my two cents).