Tenants and PM in place. Do I keep the PM for now?

[Jake Foehr]

Hi all,

I'm under contract for a duplex with tenants in place. One tenant has nearly a year remaining on the lease and the other is around 6 months remaining. This is my first purchase and I was planning to manage the property to maximize returns, but should I keep the PM in place for the duration of the existing leases? 

Thanks in advance!

[Theresa Harris]

If you planned on managing the units yourself, then why keep the PM?  Make sure you get the deposits and the prorated rent at closing.