property management contracts between owner and PM Co.
Hello. I'm hoping someone can help me. I'm about to enter into contract with a PM company, but have some questions about the contract. This property is in PA. I've looked online, even the PA Realtors Assc. to see if specific wording is in the contract. This wording is what is of major concern. The 90 day termination period in bold is what is concerning. We think if nothing is being done to advertise or get someone in there, we should be able to terminate in 30 days, not 90? If they're advertising that's different, but when someone is doing nothing, I don't want them. Am I being unreasonable?
This Agreement is entered into by the parties hereto for not less than twelve (12) months and
automatically renews for up to 10 twelve-month periods on each yearly anniversary date. Either
party may cancel this agreement on its anniversary date by giving the other written notice to
terminate this agreement at least 60 days prior to each said anniversary date. However, if upon
receipt of cancellation notice from Owner the property is occupied with renters, then the term of this
and shall not expire until property is next vacant. Owner may opt to cancel this agreement at any
time by giving a 60 day written notice and paying
pertaining to the management of the property including third-
any. Should agent fail to advertise or show the property and the property remain vacant for a
period of 90 days or greater, then Owner may terminate this agreement immediately and without
recourse by agent.
Thanks so much for your time.
vera