SearchIncrease in property management fee
Rebecca asks:
(updated on Friday, March 30th 2012)
Our Experts Answer:
I suggest you look at the management authority that you signed. It may contain a provision which allows the agency to change its terms of business (which include the commission rate). This would normally require the agency to give you advance notice of the change, to give you time to discuss/dispute the increase. Bear in mind that the management of your property is based on an agreement between you and the agency. If you can agree on a fair price for the service, you will both be happy. If not, you may decide to look elsewhere for a property manager.
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