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  1. #1
    Join Date
    Apr 2011
    Posts
    151

    Default When Can a Property Management Company Raise its Fees

    My question involves landlord-tenant law in the State of: NC

    When you sign a owner and property mgmt contract, I thought you are governed by the original rules? Their original mgmt fees were a certain amount (letís say 5% of monthly rents per month) and we have had it for many years. Even when they increased it for new owners to 7% of monthly rents per month, we kept our original fees and were not affected. I got notice that the company is increasing their mgmt fees by a lot more this time. Can they do that? I thought owners are bound by the rules from when we originally signed.

  2. #2
    Join Date
    Mar 2013
    Posts
    17,288

    Default Re: Property Mgmt Raising Mgmt Fee

    "I thought" means nothing.

    Read the contract.

  3. #3
    Join Date
    Jul 2018
    Posts
    1,796

    Default Re: Property Mgmt Raising Mgmt Fee

    Quote Quoting jyeh74
    View Post
    When you sign a owner and property mgmt contract, I thought you are governed by the original rules?
    No one here has any knowledge regarding the terms of any contract you signed.

  4. #4
    Join Date
    Jan 2006
    Posts
    38,789

    Default Re: Property Mgmt Raising Mgmt Fee

    If you are at a point of renewal of the contract, unless the current contract limits the amount the fees can be increased when renewing the contract, they can give you notice of their intent to increase their fees to whatever they want to raise them to. Barring some language in your contract to the contrary, you could refuse to accept the new amount of fees and seek a new management company with which to do business.

    So, in short, and as another poster stated: read your contract.

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