All Forum Posts by: Christopher Cadenhead
Christopher Cadenhead has started 13 posts and replied 23 times.
Post: Business Lawyers recommendations
- Miami, FL
- Posts 24
- Votes 2
Can anyone recommend any business lawyers or CPA’s in Miami, FL
Post: How do I transfer my property to my LLC ?
- Miami, FL
- Posts 24
- Votes 2
I previously bought a rental property last May 2018 under my name. I want to transfer it under my LLC how do I go about doing that ?
Post: Tampa General Contractor recommendations
- Miami, FL
- Posts 24
- Votes 2
I’m looking for a contractor in the Tampa /USF area can anybody recommend me to some ?
Post: Property management issues
- Miami, FL
- Posts 24
- Votes 2
I definitely will apply this information to my next hire thank you!
Originally posted by @David S.:
That is fairly one sided agreement. When interviewing potential PM's a few years ago, I was nearly ready to sign with one of them if they agreed to remove the clause that you are stuck with them for an entire year i.e. need to wait a year before cancelling. The response was a strong NO. So I didn't sign. That clause is there for one reason only-they can't be fired even if they mismanage your property. If you are really as good as you say you are, then why aren't you held accountable by being able to be terminated at any time? Every employee can be terminated with or without reason but not a hired PM WITH reason?
What you can do is hold that PM accountable. Call, text, and email him until he does his job. Then when still not satisfied after the year, terminate the contract. Then make sure the next one does not have these clauses.
You did the right thing. My management doesn't charge ANY set-up fees and the owner is allowed to terminate at any time for any reason with one exception: if they cancel within the first three months they pay me a flat, reasonable dollar fee. The reason is that I had an owner hire me, I placed an excellent Tenant in his home, and then he fired me because, "everything is going so well that I don't need you any more." Seriously.
It's a free market. If that PM is charging you unreasonable fees or locking you in and claiming you can't leave even when they screw up, keep looking.
Post: Property management issues
- Miami, FL
- Posts 24
- Votes 2
I want to thank you all for the responses this was really helpful! I’ll just have to stay on top of this PM until the contract is up.
Post: Property management issues
- Miami, FL
- Posts 24
- Votes 2
I just did any feed back Willa be great I just want to make sure I understand it right I’m new to this
Sorry to hear that @Christopher Cadenhead. Does it say anything in the contract about ending it? It should state everything in there clearly. If you aren't sure, post a copy on here with the private info crossed out and we can try to help.
Post: Property management issues
- Miami, FL
- Posts 24
- Votes 2
TERM: It is mutually agreed by and between the parties that this Management Agreement shall be binding upon the party’s successors, estate and assigns and shall remain in full force and effect until termination pursuant to the terms of this paragraph. The term shall begin on the _____ day of _________, 2017 and will be in effect for one year and will automatically renew for successive year periods at the anniversary date so long as there has not been at least a thirty (30) day written notice prior to the next term given by either party to terminate. Termination by LANDLORD is effective when actually physically received by BROKER. In the event this agreement is terminated by LANDLORD, the BROKER shall continue to receive the rental commission set forth below as long as the TENANT(S) placed on the property by BROKER shall remain in the unit until the end of the current lease. In the event this agreement is terminated by LANDLORD, the BROKER'S rights provided for in paragraph 15 THROUGH 18 shall survive such termination. All monies expended by BROKER shall be paid to BROKER prior to this cancellation and BROKER is authorized to withhold any sums owed to BROKER from monies held prior to the final disbursement to LANDLORD. An additional cancellation fee of $125.00 will be charged to LANDLORD should LANDLORD terminate this agreement prior to TENANT(S) being placed and for a period of 3 months after TENANT(S) placement. BROKER reserves the right to terminate this agreement with 30 days written notice to LANDLORD at any time, or, immediately with written or verbal notice if in the opinion of BROKER'S legal counsel, LANDLORD'S actions or inactions violate the terms of this management agreement or are illegal, improper, jeopardize the safety or welfare of any TENANT(S) or other persons, interfere with this management agreement and/or a foreclosure action is filed against the LANDLORD.
Post: Property management issues
- Miami, FL
- Posts 24
- Votes 2
Post: PROPERTY MANAGEMENT ROCK STARS KNOW OTHER ROCK STARS
- Miami, FL
- Posts 24
- Votes 2
Originally posted by @Account Closed:
@Christopher Cadenhead, How many units/properties do you have exactly?
I only have one property, It’s a town house three bedroom I’m renting each bedroom sperately
Post: PROPERTY MANAGEMENT ROCK STARS KNOW OTHER ROCK STARS
- Miami, FL
- Posts 24
- Votes 2
@Omar Khan it’s for a townhouse and thank you will do