How should an owner pay the Property Mgmt Company? : ezLandlordForms

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Null

started a topic over 5 years ago

I am dealing with one of my owners who is: 1.) stating that his previous property management company did not take any pay if he was not paid in rent by his tenant. I have been working harder dealing with the non-paying tenants who have not paid their rent whether it's eviction or my last case that the tenant has just disappeared without notice. Could I please get your opinion on whether you continue to be paid for your time even though the owner is not receiving any rent payment for his property? (I am actually working much harder and feel he should be charged my going rate on the rental until the tenant has vacated). I am presently handling an eviction through my company without an attorney and the owner feels that I should be paid my hourly rate of $18 per hour/hourly rate for miscellaneous work. The eviction I've handled might be at 3 hours to date so according to his method of payment I would receive $54. (Trip to pick of eviction paperwork, filling out the paperwork, setting my appointment with the court, presenting myself and unpaid rent to the judge, etc.). To me it seems that I should be paid at least $250 to $400. Could I get an opinion on this eviction issue? Your help on these 2 issues would be greatly appreciated!

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Scott H

said over 5 years ago

It should be in your contract to manage the property. Did you find these non-paying tenants or were they already in the property.

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John P

said over 5 years ago

Just like the relationship with the tenant, these matters are completely ruled by what your agreement with the owner says. If you don't have a formal contract, what you "feel" you should be paid is irrelevant. My son is my PM, he doesn't get paid unless there's a tenant in there, but that's an unusual case. Many PM's take one month's rent for each new lease and THEN 10%, but are not paid while it's vacant.