Legal Question in Real Estate Law in California
My property manager and I cannot agree on her new fee schedule. Our contract is expiring today. Since I am thinking of managing the property myself, she now wants to charge me a leasing fee of 6% of annual rent, even though the tenants have been there for a year. Is this legal? If we can't agree on a new contract today and the original contract expires, am I still under the terms of the contract?
2 Answers from Attorneys
Whatever you two agree to is the agreement. I suggest that you make sure that your contract ends today (i.e., no automatic renewal). You may want to have an attorney review the agreement and advise you of your options.
You'll have to read the contract itself to determine whether the current manager is entitled to continue to receive fees based upon tenants she placed prior to the expiration date, or whether her right to fees expires with the contract. Probably the latter, but who knows? It could read either way, and either provision would be perfectly legal. Contracting parties can pretty much agree to whatever they can negotiate, and courts enforce bad deals as well as good deals.
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