Existing Property Management when buying

[Greg Martin]

Hi everyone!

We are under contract for a SFR and duplex that is managed by a property management company currently. I plan to manage it myself after closing. Does this type of contract carry over to the new buyer (us) similar to existing leases, or is it null and void on sale? Would I need to review the existing contract to find out? I tried searching and found a lot on existing tenants, but not existing property management.

Thanks in advance!

Greg

Tampa Real Estate - KRL Group FL

[Account Closed]

I'd make it part of the sale, that the seller terminates the management contract prior to closing.