Ending property management contract

Our Experts Answer:

No it doesn’t. Property management companies often require a minimum management period in order to get a fair return on the investment of time and work which they have spent in preparing for letting and in finding a tenant. From the information you have provided, I read that the agreement says you can terminate the management by giving three months’ notice but with a minimum management period of six months. The same terms apply to a subsequent tenancy. If a tenant renews an existing tenancy, there is no need to have a new tenancy agreement. The original tenancy agreement can continue, and you can take over the management by giving three months’ notice in writing to your property management company. Note too that the notice can be given within the initial term, with the termination to take effect after the six months has passed.