If you’re currently using a company for property management in Lakewood, you need to be tracking their results. If you’re unhappy with their service, or they’re underperforming on their duties, it may be time to switch property management groups.
Each situation will be different, but here are some tips for terminating an underperforming Lakewood property management company:
Understand Your Contract
While most Lakewood property management contracts are similar, each will have its own terms and clauses. You should have had a good understanding of the agreement when you signed it, so perusing through it shouldn’t be too difficult. Luckily, everything you need to know about your situation is in there, and if you’re confused by any of the wording, don’t hesitate to contact a legal professional.
Look for Termination Clauses
Your contract should have a section devoted to the rights of each party in terminating the contract. Often it will state the notice period that must be given, which is commonly thirty to ninety days. You will also see if there are any restrictions, such as needing just cause for termination.
Follow All Termination Procedures
Terminating property management in Lakewood should be straight-forward if you understand the process. In the lines and clauses of the management contract there will be an outline procedure for ending your relationship. This often involves more than just a phone call – you’ll probably need to send the notice of termination in writing through certified mail. Your specific management agreement may have additional steps, so pay attention to the details and document your actions every step of the way.