Advise when signing on property management agreement

[Marco Santana]

Hello everyone,

I was looking to get some insight and advice on PM agreement, I'm about to close with a PM, and as an investor what should I be aware of in the agreement or important key factors?

Thank you,

Marco

[Nathan Gesner]

Quote from @Marco Santana:

There are too many things to answer without reviewing the entire agreement. Make sure all fees are completely disclosed and that you understand them. How do they market and screen applicants? How do they handle late/unpaid rent, lease violations, or other problems? Determine how/when the PM will communicate. Ask about the termination process and any associated fees. There should be a termination process when things are going well, and a different process when the PM is failing to do their job. Do they contact you for permission before handling maintenance? Do they provide copies of the actual invoices, pictures of the finished job, or other evidence to show what you paid for?