First, how our fee works: we earn our management fee when we sign a lease or a renewal with your tenant. For your convenience, we collect it a month at a time over the life of that lease instead of all at once. That is why ending management in the middle of a lease has a cost.
You can end management anytime with 90 days written notice. Or, to end it when your current term runs out, give us written notice of non-renewal at least 60 days before the term ends. The easiest way to do either is our management termination form, and we confirm every notice in writing.
If management ends while a lease is still running, the management fee for the rest of that lease comes due as a closeout fee, figured at the current rent, with a minimum of $500 per unit. The minimum covers transferring the leases, deposits and records, the notices Colorado requires, and your final accounting and 1099. There is no closeout fee if a buyer of the property keeps Eclipse as manager.