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Originally Posted by Happy life
My parents signed the managing contract with property management company on November 2010. At these 4years we always unhappy with their services and always have gas top or sink or wash machine and so on to fix. But during this four years my family and I always out of country. So we don't have time to fire the company.
But on August 1 we came back to city. And called manager to tell him our expected rental for next one-year lease tenancy is $3000
On August 21,2014, I called Manager to tell him I want to move my furniture to my property, and He told me he already had an agreement with the new tenant for a year lease tenancy from August 15 2014, and he reduced the rent from $3000 to $2700 without noticing me.
On August 27,2014, I mailed the registered letter of terminate property management agreement. According to section 8 of the Contract Act, in addition to the provision in paragraph 7; either party shall have the right at any time to terminate this Agreement by 30 days written notice to the other party.
On August 28,2014, Manager called me to asking me to pay one year of management fee if I still insist on terminating the managing contract (Which is not indicated in our agreement). And I will only accept to pay the management fee of first month and an amount equal to half of one month's rent as rent up fee.
On October 6. I still hadn't received any of reply from them so I went to their office want to discuss and find the best way to solve the matter but he still want to talk to my lawyer instead of me and refused to give me any of records or flies about my rental property. And he called police to ask me to leave How can I get my keys back? Can I represent myself? Can I still sell this property if I go to law against him? help!Appreciate!
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As he leased the property for one year, before you sent the cancellation notice per lease requirement, you have a 1 year lease to honor.
You cannot move your furniture to the property, while there is someone living at the property with a lease.
And apparently you were causing problems at his office, and the police were called to tell you you cannot do that.
In most states, even the management firm has to give 24 hour notice before they can go to and inspect the property. The owner or the manager, neither one have a legal right to just go to the property and demand to inspect the property without giving at least a 24 hour notice, except for emergency repairs.
And in all probability due to lease terms, you have a 1 year management fee to pay to the management company, for arranging that lease, per the management contract your parents signed. As you don't understand, leases, the management agreement, your rights to just go to the property, etc., he wants to talk to your attorney, who he then expects the attorney to explain to you why you owe the 1 year of management fee, why you cannot just show up at the property and cause problems, why you cannot put your furniture on the property, and simply that the use of the home belongs to someone else until the end of the lease. In other words, you may own the home, but you have to stay away and just receive the rent. To avoid your having to go and do any repairs if there are problems, as you may owe the management fee to the management company, let them earn the money they will receive from the lease payment and stay in management this next year.
And the notice to the management firm you wanted $3,000 per month rent, should have been in writing not just a telephone call.
Yes you can sell the property, with the existing lease, but you cannot sell it so the new owner will have immediate possession. You have to sell it, with possession by a new owner to be at the end of the lease period. No one is going to buy the house, if they cannot get immediate possession, unless it is an investor buying the house as an investment, and that will be hard to do. If you do sell it under the circumstances do not expect to get the current value for the home, and you will have to discount the price to sell it.
What I am telling you I learned in real estate law classes at a major university. From being an investment real estate broker from 1972 until I finally retired. I bought and exchanged for a lot of single family homes for investors, who told us the same things as the university law professors. And while I was president for 3 years for a large county wide rental owners and managers association. I arranged a all day annual education day for the members and always had a top real estate attorney speaking to the group for an hour, who told the members exactly what I am telling you above. I am not giving you legal advice, you need an attorney for that.
Get an attorney, and have him talk to the management company, and review the management agreement, and learn where you really stand. Either that, or let the management company manage for the year while waiting for the lease to run out.
You have another option, which is to buy the lease back from the tenant which will be a substantial payment, so you can have immediate possession, and pay the management fee to the management company.