Change of Management of Short Term Rental Property

[Holly Schymik]

Can anyone provide me information on changing property management companies.  We are honoring all outstanding reservations (per our contract), the prior management company has change some to new renters (per the contract), but they are now withholding downpayments for future reservations from deposits made by future renters that they were not able to change to other locations they own.  They have decided to withhold 15% gross rental revenue, which the contract does not provide for and have also told us that if the future renters cancel, even giving the required notice, they will keep the 15% for their marketing and other costs.  This is not provided for in the contract.  We think  the rental deposits should go to tour new rental company (as they are not earned yet), and the old company should (1) not get paid for cancellations within the required time period for a refund, or (2) or withhold moneys they claim to be owned from client deposits.  We are glad to pay the 15% once the rental occurs, if that is the appropriate rate.  Thanks for any help.