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Updated over 1 year ago,
Taking over management after my PM terminated our relationship
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