Terminating a property management agreement
I need to terminate my property management agreement on one of my properties and need some advise on how to go about the transition. The PM company was a nightmare to begin with. They don’t pay me my portion of the rent until nearly 2 months after the rent is paid, they send me a different amount every month (significantly less than what it should be), they never answer the phone and when I inquired by email about the amount being short they said they had a plumber come to the property for a clog. They didn’t let me know there was an issue beforehand and I’ve asked repeatedly for the receipt which they have not provided. Our contract is over in June (tenants have until July 31st). I want to offer them the 10% for the next 3 months as a buyout as I would actually save money since they have been shorting me. Our contract is very generic, some crap they printed off the internet but it does say if they don’t perform I can terminate. What’s the best way to handle the logistics of talking to the tenant about the switch? Or any tips on dealing with this PM company? I’ll need to get the keys and deposit and I’m concerned they will be difficult.