Managing Agent

What is a managing agent? 

A managing agent is an agent hired to oversee and handle the day-to-day operations of a property on behalf of the owner. They take care of tasks like collecting rent, communicating with tenants, organising repairs and maintenance, and ensuring the property complies with relevant laws and regulations. 

How is the management fee calculated? 

A management fee is usually a percentage of the rental income collected or a fixed monthly amount, agreed upon in a management agreement between the property owner and the management entity. 

Can a management agreement be terminated early?

Yes, a management agreement may include provisions for early termination under certain circumstances, such as breach of contract, non-performance, or mutual agreement between the parties. However, early termination may be subject to specific conditions and penalties as outlined in the agreement.