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Updated over 3 years ago on . Most recent reply
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Lease validity if I fire property management
I'm contemplating a management change on two SFHs in Missouri. We are three months into the agreement and they found renters for both. But the problems with overcharging for maintenance, poor communication, and bad record-keeping are overwhelming. I'm very much regretting my decision to select this group. If I terminate the contract early and select another PM, I believe the lease signed between them and the tenant is still valid, correct? Has anyone had problems enforcing lease terms if the owner changed management companies during a lease? The lease is signed in the name of the management company with the word- Owner - in parenthesis next to it.
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@Scott M. - Thanks for your comments. I think the tenants will be ok overall. I am concerned about one because the relationship seems strong. But I work in multi-family and I can find a way to communicate the change so it doesn't come across as accusatory. The current management leans heavily on fees throughout the lease for ancillary income so they may be happy that I don't charge these. They charge $10 per month for a/c filters, $75 for inspections twice yearly and $300 for pet inspections once per year, none of which I receive. They were supposed to charge $20 pet rent for me but they missed this so the PM is crediting this to me each month but even that is not worth the headaches they cause in other areas. Thanks again!