Do property management companies let you customize the lease?

Question

My husband and I are starting work with a property management company to rent out our first property (was our first home that we just moved out of). Based on all the research we've done, they seem like a great company, and we're in talks to officially sign the contract. However, we found they have a standard lease agreement for tenants that we cannot modify due to them keeping it standard for their volume of properties. We read their standard lease agreement and are satisfied with it, but we're concerned in case we want to make any changes in the future. But I'm also not sure how common this is.

Do property management companies typically not do custom leases? Are there any cons we might not be thinking of for having a fixed standard agreement?

Nathan Gesner · Answer

No, they will not let you modify their lease agreement. Professional property managers have built their leases based on a lot of experience, state and local laws, and advice from their attorneys. Either you trust them to manage your property, or you do not.

I occasionally get a landlord that wants to edit my lease or be involved in the application screening process. My response is that I have more experience in one month than most owners have in years. They can hire me for my knowledge and experience or they can do it themselves. I have no problem with an owner verifying my work, but I will not be micromanaged.

Scott Mac · Answer

What is it you want to modify (???)

R.J. Lange · Answer

No, unless you manage the property yourself and need leasing services, minor exceptions would be made.

Drew Sygit · Answer

What @Joe Splitrock said:)

Scott M. · Answer

Larger, professional PM companies that have been in business for years/decades and manage a larger number of homes would generally not allow this, no.

Your post actually states one of the reasons why "due to them keeping it standard for their volume of properties"

Your statement tells us this is a larger professional company and therefore no, I would not bank on them changing their lease for you. If that is somethi8ng you want you want to look for smaller / newer companies that are a bit unsure yet of what they are doing. But not sure you would want that kind of company managing your homes to begin with.

Julie Hartman · Answer

@Paige Laughton No, I don't think any PM would allow such a request. We have never had a property owner ask to modify a lease but we have had applicants ask which causes us to double over in laughter. We have spent many years and a lot of money carefully crafting a lease with our attorneys. Most PM's have clauses in their lease that you have probably never thought of. Trust they know what they are doing and let them do it.

David Avery · Answer

No, your insulting the Property management company. It's their business. There may be an area on their forms that would allow a couple extra items@

Please do not put in the chemicals for the pool as it is serviced weekly. Make sure the locks to the pool gate are on at all times when not attended by someone over 16.

But to revise their lease !

Nathan would know if they have additional space to include extra items.

Do property management companies let you customize the lease?

Do property management companies let you customize the lease?

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