Re: Contract with Management Company

M

Moro

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I just have a query about the contract with a management company over an apartment complex. It says in the agreement that the owner can't rent out the property to another person without the permission of the management company. Is this normal??
 
Is it about informing the management company about contact details re the renters, in case of difficulties ie anti social behaviour?
 
I don't know. The building insurance is included in the management fee so maybe they have a say there as to who occupies. Does anybody else know of this kind of stipulation in an agreement with management company??
 
'Buildings' insurance is for structural issues as far as I know, so the fact that apartment will be rented shouldn't really matter.

I have a feeling that this was raised on AAM before and that one of the reasons given was as per leafs post before.
 
Don't have this requirement in our management company contract. You own the apartment so you are legally entitled to rent it out, if you so desire.
Given the level of problems with some renters it makes sense for the management company to have contact details in order to resolve problems.
 
Yes, I am down as an owner occupier but may want to rent it out at some stage. The contract says something about me notifying them or getting permission to rent residence. Someone told me that some management companies even stipulate that you can't do the rent a room scheme under their agreements. It's suprising what they don't allow when you read through the jargon of the agreement. They even stipulate you're not allowed pets. Has anyone heard of this before?
 
There are many existing threads on management companies, and a very recent thread on satellite dishes.
 
Moro,

This is the norm. It's a requirement so that the management have up to date details on the complex and also that they have contact details for you. Nothing to worry about. Just give them a quick ring and they'll ask for your new details.
 
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