Updated about 1 year ago on . Most recent reply
Question about property management contract
-Real estate agent procured tenant.
-Property manager was hired 10 days later to handle repairs, tenant questions and HOA compliance.
-Tenant stayed for 2 years and will leave at the end of the lease. Lease, rent collection and accounting is handled by owners.
-The future of the property is uncertain.
-30 day notice was provided to PMC.
-PMC is charging a termination fee. It is in the contract which auto renews each year unless notice is given.
-This is a natural expiration of the lease and there are no services to provide after lease end.
Does it make sense that a termination fee would apply to this situation?
Thank you