All Forum Posts by: Deepak Bhadauria

I'd cancel with them, and I'd challenge them on the $1000. I've never once signed a PM contract that has something like that in it. When you own a property, essentially a PM is like your employee and if they don't perform, you should never have to pay them to....fire them. 

In my experience, and turnkeys are a large portion of my experience, the worst mistake I've ever made (and sadly made it more than once) was letting a bad PM linger too long. That is literally the only thing that has ever cost me a significant amount of money.

@Deepak Bhadauria How long does the PM have to rent the property before you can cancel? Or is it a one year contract whether or not they rent out the property? I would ask them for hard feedback. Ask how many times they have shown the property each week for the past 3 months. Ask what are the potential tenants telling the PM as to why they are not applying. Ask where they are marketing the property. You are entitled to some answers here. My PM took 3 weeks to get my property rented out. He gave me updates on a weekly basis. Just when I was about to ask for an update, I had one in my inbox. I thought 3 weeks was a long time but 3 months is pretty ridiculous assuming your property is in good condition and at a reasonable price. Best of luck!