Rental property management
I have a rental house being managed with a 1-year lease to end by end of 9/99. If not terminated, the lease converts to a month to month lease – a standard real estate agmnt from Calif. Assoc. of Realtors.
The manager had also added “…lanlord will retain services of manager for life of tenancy.” I would like to terminate his services end of this month BUT he tells me that the ONLY way I could do that is if the tenants leave. Even if I terminate the existing lease and write up another but slightly different one with the same tenants. According to him, as long as the same tenants are in the rental, I cannot terminate his services.
I thought that the above statement is valid only during the life of the original lease. The manager is a realtor also(on the side) so I’m guessing he knows what he’s talking about!
Is my interpretation incorrect? Thank you.