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I have found out my property management company real estate license is invol. Inactive, and the owner's license also has been revoked since March 2010.
I am not sure if I could terminate the management agreement with this company immediately for this cause, or have to give them 30 days notice as required by the agreement?
The lease with tenant is also expiring on the end of this month.
What should I do now?
Thank you so much for the help!
Hello k:
If your agreement requires them to BE licensed, then THEY already breached the agreement absolving you from having to do so.
In fact, as I consider it further, I think your agreement with them ASSUMES they're licensed whether your agreement requires it or not. So I say again, THEY breached it, absolving you.
Fire them NOW by certified mail. If you're wrong, they'll have to be the one's who sue, and without a license, they won't have a leg to stand on.
excon
Can't see the answer?
Hello again, k:Quote:
Originally Posted by kyflca
I'm not a computer expert. Try refresh if you can't see it.
excon
Right. Except for a bit of terminology: a party to a contract should never intentionally "breach" that contract, unless he wanted to be sued for violating the contract. What you mean is to declare a breach on the part of the other party.Quote:
Originally Posted by excon
The one-month provision is, I expect, for the purpose of getting out of the contract in the event you are no longer interested in doing the work. Say, for example, the owner found out that someone else could manage his property for less money and do a better job. In that case, he would be obligated to give the property management company the 30-day notice. Such notice is not necessary in this case.
Without a license, the property manager is not capable of performing his obligations -this minute, not just a month from now. So tomorrow morning is when you should get a new property manager.
Thank you so much!
The owner of the management company finally replied my email. She said that she has her broker xxx who has valid license and she definitely has her company in legal standing.
I cut&paste part of contract, is she correct? I believe I signed the contact with xxx company called MANAGER. They had breached contract if both owner and company have invalid licenses. Please advise...
1. PARTIES: This agreement between owner's name xxx_______, the owner or legally appointed representative of the premises, and xxx Company , hereafter called the MANAGER, whereby the OWNER appoints the MANAGER, its agents, successors, and assigns EXCLUSIVE AGENT to rent, lease, operate, control and manage the following property:
Contract were signed by
_____________________________________ _______________________________________
Xxxx (OWNER of xxx company) xxxxx (BROKER)
Hello again, k:
What is your concern? That they'll earn a commission when the tenant renews in a few weeks?? That they're cheating you? That they're doing a bad job?
It IS possible that they're working under a brokers valid license. In any case, they didn't run away when you confronted them. So, I don't know how much of a fight you want to get into with them, and, of course, I don't know the reason..
If it's the tenants commish, you might have waited too long.
excon
Quote:
Originally Posted by kyflca
I am confused. You said that her company's license is inactive, but then she told you that it is "in legal standing". The language of the contract you copied is clear: you have a contract with the company. Does the contract require the company to have a current license or is it enough that the company employs a licensed broker? Does your state require a property manager to have a current license, or, again, is it enough that the company employs a licensed broker? I suggest that you call the licensing agency tomorrow and find out the answers to these questions:Quote:
Originally Posted by kyflca
- Is the company's license current or not?
- Does a property management company have to have a current license?
- What would be the adverse consequenses to you if you continued to employ an unlicensed company?
My concern is the adverse consequenses to me if I continued to employ an unlicensed company...
I just called Florida license dept and confirmed that the company and its owner have invalid licenses and they should not have been doing any sales and renting property activities for anyone since March, 2010. This is a unlicensed activity and it is crime. The broker had also left the company on March, 2010, and her license is valid only when she works with licensed company. I was suggest to file a complain at this point.
My contract with this company was signed on Jan 30, 2010 and automatically renewed every year at its anniversary date as long as there is not a 30 days notice from either party. So it is still effective now.
Should I serve this company a cetified mail and cancel the contract immediately, and state the cause of this action in the letter? This company also hold the tenant's deposits up to $1350.
Thank you so much for all your help!!
My concern is the adverse consequenses to me if I continued to employ an unlicensed company...
I just called Florida license dept and confirmed that the company and its owner have invalid licenses and they should not have been doing any sales and renting property activities for anyone since March, 2010. This is a unlicensed activity and it is crime. The broker had also left the company on March, 2010, and her license is valid only when she works with licensed company. I was suggest to file a complain at this point.
My contract with this company was signed on Jan 30, 2010 and automatically renewed every year at its anniversary date as long as there is not a 30 days notice from either party. So it is still effective now.
Should I serve this company a cetified mail and cancel the contract immediately, and state the cause of this action in the letter? This company also hold the tenant's deposits up to $1350.
Thank you so much for all your help!!
Hello again, k:Quote:
Originally Posted by kyflca
Then fire 'em.
excon
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