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Question DetailsAsked on 4/1/2012

deb
I have recently started up an agreement with a Property Management company and am not pleased. Is there a way to get out of this agreement?

This owner and company do not act professional and hinder rather then attract renters.

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2 Answers

2
Votes

There should be a contingent in the management agreement you signed with them that allows for cancellation of the agreement with a 30 or 60 day notice. There also may be a provision that stipulates the management company will be paid a certain amount if you cancel the agreement within 12 months of the agreement date.

You'll have to read the agreement to get the particulars, but there is usuually an "out" for both parties spelled out somewhere in the document.

Hope this helps!

David

Source: http://www.SanMateoLiving.com

Answered 5 years ago by DavidGowans

1
Vote

In my area in Illinois, we have a lot of local Property Managers that are not licensed to practice real estate but they do anyways. Here they have to be licensed if they show or rent property owned by others (not if all they do is perform maintenance/cleaning). Check to see if you property manager and his agents are licensed. If not, check your state laws to see if a license is required for the activities they perform. If a license is required and they are not licensed, you have options, and you may want to report them to the state licensing board to report them. Or you can threaten to do it if they don't let you out of your agreement. In Illinois, we have big fines for unlicensed individuals performing licensed activity.

If they are licensed or they are not violating any state laws, look over your agreement to see if there is any performance clause or cancellation policy. You may want to consult your attorney for advice.

Answered 5 years ago by Able Realty




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