C. Dismissal by the manager for cause. This agreement may be terminated without notice by the administrator if the owner does not pay the administrative costs or compensate the manager for expenses or expenses for which a refund is required, or for actions of the owner that constitute fraud, dishonesty, illegal conduct or otherwise. In this case, the manager is challenged and is not subject to the transitional obligations below in this section 10. In addition, the manager may terminate this contract by not giving the owner thirty (30) days of case-compliant notification (1) the owner does not authorize the owner in a timely manner or the owner authorizes a budget other than the proposed budget, and a budget approved by the owner is not enough, once the administrator has been properly operated , to enable the operation and maintenance of the property in accordance with this agreement. 2. The owner does not meet the obligations under Section 5, or (3) the owner fails to meet or meet other substantial obligations that he must fulfill or meet under this agreement; However, provided that such a termination does not take effect if the owner has recovered from such a failure before the expiry of this thirty (30) days` notice period. A comprehensive property management agreement will not describe your specific responsibilities and their tasks after the agreement is signed. Often, you waive the possibility of bringing a tenant into the property or entering the property without first noticing the tenant. Discuss with your lawyer whether a position position or cumulative budget gap is appropriate.

Owners generally want deviations from positions, while managers generally want cumulative deviations to give them more flexibility in property management. Often, in the service portion excluded from the contract, it is important to explain in detail whether the owner or property management company is responsible for the costs associated with certain types of property upgrades, etc. A simple way to avoid misunderstanding is to offer a useful reserve fund in the contract for specifically excluded services. The real estate manager expects you to maintain the reserve fund and provide the necessary amount of money when you sign the property management contract. The first basic part of the management contract that you need to understand is what services the trustee is willing to provide and how much they will charge for those services. You need to understand which services are included in the administrative costs, which services can be provided for an additional fee, and which services are not provided under any circumstances. What is included in the “gross revenue” affects the amount of administrative costs for the duration of the agreement, so make sure all parties understand exactly what should be included.