QUESTION
At what point is a property management firm in breach of contract and when can I take back control of the property?
Asked on Sep 03rd, 2015 on Real Estate - California
More details to this question:
Property Manager hasn't paid me for August. September rent is now due and she won't return my phone calls or emails. Management Agreement ends June 30, 2016 with $200 cancelation fee and 30 days notice.
1 ANSWER
Estate Litigation Attorney serving Redlands, CA
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Price Law Firm, APC
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A property management company owes fiduciary duties to the landlord. You may need an attorney to draft a demand letter to the property manager to enforce your rights. The property manager will have to account for the rents that they collected and any expenses deducted from those rents. Then they will have to turn over the balance to you according to the management agreement.
Answered on Sep 03rd, 2015 at 4:07 PM