I moved to another state and have a management company looking after my property, to date he has not been able to rent it.

Asked over 1 year ago - Silver Spring, MD

I am unable to pay rent at my new place and a mortgage. If not rented soon I will have to forclose on my house. What is my obligation to the management company? Do I still have to pay him a full month's rent ( he did not find a renter)?

Attorney answers (4)

  1. Robinson Sean Rowe

    Contributor Level 8
    Best Answer
    chosen by asker

    Answered . The answer is very specific to your contract - but a general management agreement only entitles one to payment upon delivery of renter. Look for foreclosure options as opposed to simply letting the property go. It may be easier on your credit.

  2. Daniel C Carroll

    Contributor Level 9

    1

    Lawyer agrees

    1

    Answered . Your obligations to the management company will be determined by the terms of the contract you entered into with them. To avoid foreclosure, you have to pay the mortgage. Keep in mind, you do not foreclose, the lender forecloses on you. Your question is really short on some very important facts so it is hard to give you more than general information. I suggest you consult an attorney in the state where the house/ management company is located to get a better answer.

  3. Mark William Oakley

    Contributor Level 18

    1

    Lawyer agrees

    Answered . Your contract with the management company should spell out your obligations. That is the place to start.

  4. Dmitry David Balannik

    Contributor Level 6

    Answered . Have an attorney review the contract. Why was he/she unable to find a renter?
    If they breached the contract because they simply put your file on the shelf and did not do any advertising, etc., then you may have a cause of action.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

26,802 answers this week

2,983 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

26,802 answers this week

2,983 attorneys answering