Termination letter for rental management mandate

What is rental management? You now have an example of how to terminate a rental management mandate. But what does rental management really consist of? Why delegate the task to an agency? Find out how rental management works.Principle of rental managementWhen you own a property that is to be rented out, you can decide to call upon an agency specialized in rental management to delegate the task and save time. In terms of management, owning a property is very time consuming, especially if you have several properties.Many landlords choose to use a rental management agency which allows them to receive the rental income without the hassle of searching for tenants, making visits and so on.Advantages of rental managementRental management can be very complicated and time consuming, which is why it is sometimes better to delegate the task to an agency. The real estate agencies have a lot of knowledge about the real estate market which will be a real asset for the management of your property.thanks to an agency, you will be able to benefit from many professional advices and a guarantee in case of unpaid rents, or in case of deterioration. Indeed, the accompaniment of a real estate professional is a real relief, and a significant time saving in the management of a property.Of course, to call upon a real estate agency is not free, but the tariffs remain globally affordable as for the profitability of this action.Who is in charge of finding a tenant? You can also delegate the task of searching for a tenant, or decide to do it yourself, even if you call upon an agency for the rest of the rental management. The rental division of the agency will be in charge of the marketing, and the management division will then take care of the rental management of the property.What you need to know about the rental management mandateThe main objective of the rental management mandate is to allow a principal to take care of the management of his property partially or entirely. This type of contract is known as a mandate or power of attorney. The rental management mandate can be terminated. In a rental management mandate contract, the owner has the possibility to entrust the rental management of his property according to what is mentioned in the contract. Before terminating any contract, you should ensure that you understand the terms of the contract and your legal rights to terminate the contract so that you are not at risk of breach of contract. Termination of the Rental Management AgreementUnder common law relating to power of attorney, termination of the rental management agreement can be considered at any time. The termination is free and free of charge of the contract. In order to terminate the rental management mandate, it will suffice to send a registered letter with acknowledgement of receipt which must take into account the end date of the contract in order for the termination to take place. This registered letter with acknowledgement of receipt must include the following elements: the references of the mandate, the effective termination date as well as the date of signature of the mandate and many other useful information. You can also indicate that you would like to receive important information about the situation of your property. After termination, you can get copies of all important documents of your property. Be sure to receive copies of all rental agreements, security deposit records and a statement of all income and expenses. These documents should be sent to you immediately upon termination of the contract. There is no reason for a delay of more than three or four days.