Change PM after taking upfront rent

Discussion in 'Property Management' started by hash_investor, 23rd Nov, 2016.

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  1. hash_investor

    hash_investor Well-Known Member

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    Has anyone been in a position where they want to change PM after taking upfront rent from the tenant? Upfront rent means agency has taken its commission as well. If I change at this stage how will the new agency get paid? Can agencies transfer commission between them?
     
    hash_investor, 23rd Nov, 2016
    #1
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    This is all on the proviso the first one will release you from your contract with them?

    The original agency will keep letting fee / comm on rent collected so far. The new agency will collect rent from then onwards and therefore comm on it.

    So,
    Why are you changing so soon?
    Why do you want new agency to get the comm for the old agency's work?
     
    D.T., 23rd Nov, 2016
    #2
  3. hash_investor

    hash_investor Well-Known Member

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    I will give them the require notice.

    not changing soon been with them for a while. its complicated :)
     
    hash_investor, 24th Nov, 2016
    #3