A property manager who does not store tenants` bonds in accordance with state law or who does not respect fair housing law could be an example. If broker finds that brokers cannot continue to effectively offer leasing and management services to the owner for any reason at any time during this agreement… (pdf: austinlandlord.com) If management violates the terms of the contract, it is in your best interest to terminate the contract. Once they have breached your trust or put your tenants or rental property at risk, it will be difficult to feel safe so they can manage your property. While some administrative contracts do not require any reason to terminate them, others allow you to cancel them only for certain reasons. Even if a property management company is willing to let you go, a cancellation fee may be charged. This fee can be all one month of administrative costs or the rest of their administrative costs for the duration of the contract. Include your notification of termination of the management contract in writing, not by email. This is the tried and tested method of sending the message by authenticated email, having requested the acknowledgment so that you have a record that it was sent and that the property manager received it.
Be sure to include the termination date of the contract. … The owner has a misrepresentation of the material facts with respect to the property, the tenant and/or the status of the agreement between the lessor and the tenant, if it exists or has not acted in strict compliance with this Express Property Management Agreement and authorization, or does not cooperate in any way with the agent to manage this property (pdf: rmhomes4rent.com) IMPORTANT: For most property management contracts, the termination of your contract is as simple as the execution of your contract with this agreement. However, before you do so, you should read your contract carefully. You want to make sure that the termination of your contract before your contract expires is not subject to fines or fees before proceeding. … when the representative, at his sole discretion, considers the continuation of the contract to be responsible or that he is violating his obligations to tenants or others.