Legal Question in Real Estate Law in Virginia
Owner and Real Estate Management problem
I own a home which is currently rental property. It is being managed by a Real Estate Management company because I'm not a resident (nor live in) of the state. I want to break the 11/2 year contract we have. The management agency has on several occasions not followed requests of notification of repairs. One incident the tenant contacted me after not getting assistance from agency. Can I legally break my agreement and can I make them pay for a recent bill because I was not notified so I could use my own maintenance people?
1 Answer from Attorneys
Re: Owner and Real Estate Management problem
You need to be guided by the terms of your management agreement. If the agreement spells out the management company's obligation to notify you prior to performing any significant repairs, you may well have grounds for declaring them to be in default and terminating the contract. Bear in mind that you need to have a replacement company available and ready to step in if you do this, given your distant location from the property.
In regard to making them pay for the specific repair you referred to, if the repair was necessary and the cost reasonable, you probably have to pay it. On the other hand, if you can demonstrate that you could have had the work done for significantly less, you may be entitled to hold the management company responsible for the excess cost.
Robert Sher
Wagshal and Sher
5530 Wisconsin Ave-Suite 1200
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