One of the companies that I like has an 1 year contract or length of the tenants lease, whichever is longer, with a cancellation penalty of one months rent.
Trying to get a sense if this is normal/standard. What's your cancellation policy?
Posted Dec 30, 2023, 6:23 PM UTC
30 day notice. No penalty.
That is a contract provision worth negotiating, 30 day walk away clean. They don’t want an unhappy client for 11 months, you don’t want a resentful PM for 10 months. Point this out, & point out that two hours of attorney fees they would pay will easily soak up 4-6 months of management fees they would receive, & if they don’t strike that language find somebody else.
30 days notice no penalty.
Last company (major national company) was apparently supposed to be 30 days $300 penalty and ended up being “email on Thursday, ask how to cancel, have them cancel on Wednesday ignoring all of your questions and they back dated in to the previous Friday with telling the clients your personal phone number to ‘get back at you’”
I had one that was half of a month's rent. I had to fire them and sue them. I'm sure you can negotiate that or find another company. I wish I could bankrupt the company that I fired.
What did they do?
I moved out of the country. This property I was living in. I told them before I moved that they could throw away the furniture in the place if the Tenant wanted. But I asked them can I please keep my stuff in a closet on my back porch they said sure. So worst case a nightmare Tenant souls break into my back closet and steal stuff which I doubt. Or if the Tenant complained I would pay someone to move my things to a storage unit. Anyways the company the away all my belongings in my back porch storage closet. Even my safe with my ss card and birth certificate my dd214 everything. Didn't even tell me anything. When I found out I fired them and sued them. I lost because nothing was in writing even though the judge knew I was taking the truth
30 day notice via certified mail.
Owner can terminate with the same 30 day notice?
Both can yes