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  • Profile photo of poupou
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    @treepayne
    Join Date: 2015
    Post Count: 1

    Good day, folks. I understand that this thread is pretty old, however the issue of property management termination is a new and hot topic for me. I want to end the property management agreement with my current firm, keep my current tenant and manage the property myself. However, the standard property management agreement for South Carolina indicates that if the property is leased through the efforts of the broker and the lease terms run longer than the terms of the property management agreement, the broker shall continue to be compensated according to the contract. Is there a way for me to end the property management agreement, keep the current tenant and not be bound to pay the property management firm for as long as the current tenant (a really good one) is in the property? The property management firm has agreed to an arrangement that would allow me to pay them a 40% of one months rent leasing fee in order to get out of that ongoing commitment should the tenant stay, however, I don’t know the best way to draw up language that commits us to that.

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