Laguna Hills, CA · Member since 2013 · 47 posts · 5 votes
Hi, I've owned and managed several rental properties over the years. I recently sold a home in Laguna Hills CA and another rental in Burlington KY. I still have one rental condo (3 bed) in Laguna Niguel CA. I put the Laguna Niguel condo on the market with a Real Estate broker 3 weeks ago (just lowered it to $569,900 for 1,700 sq ft). I am currently living there and have spent 2 months getting it ready after being a rental for 9 years (same tenants all 9 years). There has been 3 open houses and 10 other showings. I just got a call on a fantastic job opportunity in North Carolina.
If I get the job I may take the condo off the market and this time rent it using an Orange County property management company for 7%. Then when I go to sell again in a year or 2 they can handle that transaction as they are also a Real Estate broker. I've never had a Property Management company and wonder if there is some kind of conflict with them being the Property Manager and then the Sellers Agent in a year or two?
Property Manager · Charlotte, NC · Member since 2012 · 135 posts · 156 votes
7y
Hello @Brad Rondeau. Just like most other scenarios, it only becomes a conflict only if they act contrary to your best interest. If they operate legally and morally, there should be no issue. My advice would be to not give them authority now to sell it at a future date. Things may change within the company and you may not want to have them list it for sale. Plus, if you end up with a bad experience with the management, you likely will not want to have them list it for sale. My agreements used to provide for first right of refusal if the owner wanted to sell, but they did not have to use us. We just wanted to make sure they knew we wanted the opportunity. Best of luck.