If a property management company doesn't have a renter for a property who is responsible for the mortgage payment The property management company or the landlord?

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That is correct. The landlord is responsible for the mortgage payment as the investment property is ultimately his (name on the deed).

And I also agree with the advice given below. A competent and successful property manager will get vacancies filled. In a slow market, it's natural for a home to sit vacant for a few weeks, but the property manager should be doing everything in his/her power to get that home rented - including aggressive marketing.

the landlord of course, but the landlord may need to start looking for a more reliable property management company.
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Can landlord sue property manager in Florida?

You are free to attempt to sue anyone for anything... winning the suit is an entirely different question. Because your question is vague, i.e. sue for what, the vague answer is "YES.". Lllarry

How do you remove condominium property management company?

Condominium associations are governed by: (1) State Law, (2) the documents creating the condominium, usually the Declaration of Condominium, and (3) the Bylaws of the Condominium Association. Often, a condominium association will hire a property management company to manage the day-to-day operation (MORE)

How do you start a property management company?

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What does a property manager do?

There are many responsibilities of a property manager, includinghaving specialists carry out any work that is needed on theirproperties. Property managers also must complete financialobligations of their properties, as well.

What is property management?

Propertymanagement involves the management of property owned byanother entity. The property manager's goal is to maintain andpreserve the value of the property while generating income. Theymaintain the grounds, arrange for repairs when needed, paymunicipal services, collect rent, evict tenants when (MORE)

Can a person on a condo board own the property management company?

\nIt is apparently at least a conflict of interest if the board member owns the association management company hired by the condominium association to manage the condominium community.\n \n \nReview your governing documents that might address a board member's conflict of interest in such matters. Yo (MORE)

How to manage a property?

It is preferable to hire the best property management company. They help you to manage any type of properties through Condominium Management, Investor Services and Maintenance, Apartment Management, Sales & Leasing etc.

How do you find a reliable property management company?

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What is the difference between a property manager and a landlord?

Generally, at common law, the landlord is the owner of the property. However, in some cases a lessee may lease a large property such as an apartment building or mall and then has a contractual right to act as the landlord to the various tenants. The property manager is a person or company hired by t (MORE)

Are property management companies 1099 applicable?

Yes, property management firms should be applicable to form 1099,according to which the landlords must keep track of the paymentsmade to service providers, if the cost incurred in total is $600 ormore.

Can a mortgage company be forced to give you a mortgage if you were defrauded of the property?

Basically, no lender can be forced to give you credit - regardless of why you think you deserve it.. If you were defrauded of any property, which of course you would have to prove to a court - or your contention is not only not believable - but if actually said of someone or a company and unsupport (MORE)

How long can a property management company hold the owner's reserve funds once the property management agreement has been terminated?

This time period may or may not have been defined in your contract. Call other property managers in the same industry in your locale, and ask the question about the time period. Then, send a letter to your property management company, certified, return receipt requested, and demand that your rese (MORE)

Can a renter put rent into escrow if landlord doesn't fix property?

Proper procedures must be followed according to state and/or local laws regarding this. In Florida you must give the landlord at least a seven-day notice of your intent to fix something that is vital to your living in the home before you can legally offset it from the rent. The repair must not be fr (MORE)

What types of property that can be manage by property manager?

Pretty well anything that's sufficiently large in size and revenue to warrant the expense. It's commonly applied to apartment buildings and portfolios, but it's often used to manage an estate for the beneficiaries of a significant assembly of residential and commercial properties.

Do condominiums need property management companies?

It depends. If you are a six-unit conversion of a brownstone on the upper east side of Manhattan and you've all lived in the building for 20 years and kept the property in good repair -- maybe not. If you're a new complex with multiple buildings, a mixed-use development with residential and c (MORE)

Is the property management company required to tell the property owner if a tenant commits suicide?

Unless it is in the contract or required by law, the property management company is probably not required to tell the property owner if a tenant commits suicide. However, common sense and protection from possible liability would recommend that action. A death would have occurred on that piece of pro (MORE)

Should you hire a property management company for your rental or do it yourself?

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What is a difference between a security company and a property management company?

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How much do property management company charge?

Your answer depends on what services you require. If you own a 3,000 unit apartment building, and need full service from a property manager, you'll pay more than if you are a single condominium owner seeking a tenant. Prepare your list of services that you require, and call three local property (MORE)

A subcontracting landscaper damaged my car in the course of his work I am a renter in a condominium Who do I approach to cover my losses the subcontractor directly Property Management or Landlord?

These are the players: The Board, the Property Manager, the Vendor (landscape-subcontractor), the Unit Owner (landlord) and You. The association's board would prefer to deal with the landlord. The vendor (subcontractor) has an agreement with the board via the management company. Develop your ca (MORE)

What is involved in starting a property management company?

Many things involved, you should have enough capital, relationswith tenants, landlords and other concerning authorities. As a newcompany your rates should be competitive, also need experience inreal estate so that you can cover all aspects.

Is there a California statute governing the distance between an HOA property and the management company responsible for it?

Common sense is a better arbiter of this question than a statute. Association managers -- if they are paid for maintenance,preservation and protection of the association's real estate assets-- should be expected to 'walk the property' on a regular basis. In this case, an association may not be wil (MORE)

What is the best property management company in Chicago IL?

Group Fox Property in Chicago Illinois maintains immaculate apartment complexes. Their buildings are well maintained, staffed by friendly, helpful people and I really enjoy it there. Here is their information: Group Fox Property Management 2600 West Montrose Avenue Chicago, IL 60618-1507 (773) (MORE)

What is a good property management company in Portland Oregon?

From my experience The Village at Lovejoy Fountain at 245 SW Lincoln Street is the best property management company in Portland Oregon. Their number is (503) 223-5314. I recently moved out of the area for work but wanted to take a moment to tell others who are thinking about moving to downtown P (MORE)

How much does a property management company make?

What you'll pay your property manager will vary depending on whatservices you require, the type of property you own, and where yourproperty is located, but here are some standard fee structures: . Percentage of monthly rent: If you choose toemploy a property management company on a full-service ba (MORE)

Can a property management company tell the tenant that they are the owners in fee of a property if they are not the fee owners?

There is nothing to prevent a property management company from lying about the ownership of the property, as long as that does not contribute to a fraud. It is not uncommon for a fee owner of rental properties to hire a property manager and grant it power to represent the owner and manage the prop (MORE)

How can one contact a property management company?

One may contact a property management company by first finding the company they want to talk to. Once they find a company suitable to their needs, they should find either a phone number, email address, or office address.

Where can one purchase a property management company?

One can purchase a property management company online at various websites that have listings of various property management companies for sale. One can also go to a business broker or a lawyer specializing in real estate transactions.

Can a mortgage company keep you from renting your property?

Yes. You need to review all the documents you signed when you received the proceeds from the loan. Many lenders restrict loans to owner occupied property. Yes. You need to review all the documents you signed when you received the proceeds from the loan. Many lenders restrict loans to owner occupied (MORE)

Can HOA board member manage a HOA property without a management company?

Yes, but it is not a wise strategy according to best practices. Why? Board members in associations may be volunteers, but they have legal obligations, responsibilities with actions governed by state laws. In a very small community -- say six owners -- an experienced board member with a deep bu (MORE)

What companies offer mortgages for Spanish properties?

The majority of Spanish residents and non-residents alike are using Spanish banks to finance properties in Spain. With the Spanish economy and real estate market still in the doldrums, most Spanish banks are more than willing to lend to non-residents and offer a variety of attractive rates and plans (MORE)

Can you sue your condominium management company for not taking care of the property?

The management company has been hired and contracted to work forthe association by the board. If the board believes that the management company has beencontracted to 'take care' of the property, and has failed to do so,the board may take action against the vendor. The board can also cancel the vendo (MORE)

Can a property management company hold on to a domain name of an HOA?

Your answer depends on who owns the domain name. If the associationpaid for the name and is registered as the name owner, themanagement company has no right to keep it out of use by theassociation. If, however, the name was paid for by the management company and itis listed as the name's owner, the (MORE)

How do you get into Property Management?

There are many ways but some are given below : 1) Gaining Education and Experience 2 ) Contact local real estate companies. 3) Apply as an assistant property manager 4) Look for properties to buy 5) Find renters