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Updated over 1 year ago,

User Stats

360
Posts
323
Votes
Ryan Cleary
Agent
Pro Member
  • Real Estate Agent
  • Palm Beach County, FL
323
Votes |
360
Posts

Taking over management after my PM terminated our relationship

Ryan Cleary
Agent
Pro Member
  • Real Estate Agent
  • Palm Beach County, FL
Posted

I plan on selling the first rental property I purchased in 2020 (Palm Beach County) to 1030 into a nicer area.   I am very loyal to a realtor I met here on bigger pockets and since the PM I was using is a "full service" company, he is charging me a $500 early termination fee (I have used him over 1.5 years) and dropping his services since I won't use him to list the house.  The termination is amicable, I understand he would be taking on extra work as a PM and not benefitting from any listing commission.

These are my concerns:

-Is it normal for management companies to drop you as a client during a sale?  If so what about a $500 fee?

-Is there anything I should be aware of during the transition?  (Deposits, ledgers, etc)  I have never self-managed before and since I look like I am a toddler, I have never told the tenants I am the owner.

With any luck I will only be self-managing for less than two months

  • Ryan Cleary
  • Ryan@CoastalCleary.com
  • 561-850-8229
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