NOTE: This article is part of the forthcoming book, the Gotcha Guide^TM to Buying or Investing in Real Estate. Email us to join the mailing list for the release date. by DeeinAustin^TM

I'm a member of the Texas Association of REALTORS® (TAR) and normally like the forms they provide for consumer use. This post is based on my experience helping a friend negotiate a property management agreement provided by the Texas Association of REALTORS®.

Perhaps I was naive, but I was surprised at how much the standard language in the Texas Association of REALTORS® (TAR) property management agreement was biased in protecting the property manager's interests. I respect the job that Austin property managers do, but couldn't let my friend sign without striking half the clauses.

Before becoming a real estate broker, I was a landlord. I used the Texas Apartment Association (TAA) forms.  

The "standard" Texas property management agreement, "Residential Leasing and Property Management Agreement" (Form TAR-2201), was easily skewed by the property manager, who protected themselves while charging my friend additional costs that the contract allowed.

GOTCHA GUIDE^TM: TOP 5 TIPS TO SNAP BACK AT BAD PROPERTY MANAGEMENT AGREEMENTS

Continue reading "Gotcha Guide^TM: Top 5 Tips to Avoid the Bite of a Bad Property Management Agreement"