How do you fire property management?

Answer Read your contract and find the clause about termination. Follow the steps detailed there. It's a good idea, however, to have another property management option ready as soon as you send the termin... Read More »

Top Q&A For: How do you fire property management

If a property management company doesn't have a renter for a property who is responsible for the mortgage payment The property management company or the landlord?

That is correct. The landlord is responsible for the mortgage payment as the investment property is ultimately his (name on the deed). And I also agree with the advice given below. A competent and ... Read More »

How long can a property management company hold the owner's reserve funds once the property management agreement has been terminated?

This time period may or may not have been defined in your contract. Call other property managers in the same industry in your locale, and ask the question about the time period.Then, send a letter ... Read More »

A property management company claims to be in contract to manage our HOA with our developer who says we have NOT formed an HOA yet and the property management wants homeowners to pay working capital?

Read your governing documents to determine the phase that your HOA is in, in the development process. Your governing documents -- typically a Public Offering Statement (POS) -- may specify that at... Read More »

Can you fire property management company if they do not return calls and bring a lawyer to the meeting and charge homeowners?

The short answer is, yes. Any vendor hired by an association can be fired by the association -- a board action -- for any reason, sometimes no reason. Read your contract to determine penalties that... Read More »