sacking my managing agent??

[verny]

I have just purchased my second IP, and the property is currently mangaed by a major real estate agent charging 8.8%... needless to say I dont think that is good value. I want to manage the property myself ( There is a good tenant in place, half way through 12 month lease), but before I decline their offer to continue managing this property I want to know what they are going to say / do when I sack them. Does anyone know what devious tricks they might be able to pull?????
PS many thanks to all the brilliant investors who share their knowledge on this forum.
vern.

 

[Aaron Sice]

serve them a letter and abide by their terms and conditons you have agreed to when you signed over to them.

what can they say?

 

[Propertunity]

but before I decline their offer to continue managing this property I want to know what they are going to say / do when I sack them.

vern,

I have a question for you. Did you actually hire them? Just because you purchased a property with tenants does not mean that you automatically inherit the PM as well. If not, then it is not up to you to sack them - that is up to the vendor who hired them.
You can just let them know that you won't be requiring their services as you will be self-managing.
Just make sure your solicitor makes the rental adjustments one way or the other on settlement.