Owners, please use this form to officially notify Eclipse Property Management & Real Estate that you want us to terminate management of your property.

Please be aware that there could be a lot of information we need to terminate management so this form could take a while to complete depending on how prepared you are.

Closeout Fee

Closing out a property is a lenghty process and requires a lot of work and time on our end to coordinate the management transition and handoff information.  To offset these costs, Eclipse Property Management & Real Estate normally charges a closeout fee equal to one month's rent.  This also helps cover the cost to prepare year end summary reports and tax reports. 

 

Please refer to your most recent management agreement update but here is an example of the closeout fee clause:

In the event Owner or Agent ends this agreement for whatever cause, the Agent will be entitled to compensation equal to one month's rent per unit. This fee is to cover closing out the management, preparation of the current year summary reports, tax reports, record storage, tenant information handoff, tenant coordination, and other closeout duties.

In the event Owner ends this agreement before Eclipse Property Management & Real Estate has managed the Premises for 12 months, the closeout fee will be equal to one month's gross rent for all units, as calculated as if all units are occupied.

 

By submitting this form, you (Owner) undertstand that there may be a fee related to closing out the property management and it will probably be equal to 1 month's rent unless your most recent management agreement update says otherwise.

Management Fee

Standard Management fees are still earned and charged until closeout is complete and everything has been completely transistioned.

Sales Coordination Fee

In addition to the fees above, Eclipse Property Management & Real Estate also charges a sale coodination fee if the house is being listed for sale.  This offsets the extra work required on our end to coordinate with agents and tenants to facilitate showings, as well as sharing necessary information with the Owner's sales listing agent and buyer's agents as necessary. 

This fee is a sliding scale depending on which level of property management service we are providing but is usually an additional monthly fee of $297, $397, or $497 per unit, per month while the property is listed for sale.  Please refer to your most recent management agreement update for your specific price.

There is no Sales Coordination fee if Owner uses Eclipse Property Management & Real Estate or a partner brokerage to list the Premises for sale.

Cleaning, Maintenance, Repairs & Other Bills

Owner is still responsible for all cleaning, maintenance, repairs, utilities and other bills as described in the management agreement.

Some of these bills are invoiced in arrers so there may be outstanding bills that owner is responsible for, even after management termination.

This is one reason it may take up to 60 days after the management termination date to completely close out everything.

Multiple Owner Considerations

• If there is an additonal owner, only one form should be submitted.
• The form should be completed by the primary owner as determined by the owners of the property.
• The primary owner submitting this form must have permission from the other owners prior to submitting the form.

You have informed us that you are going to sell the property but that it is not currently under contract.  In order to effectively process the security deposit (if applicable), prorated rent (if applicable), etc, we will need the following infomation when you do go under contract:

• Buyer Info
• Buyer's Broker's Info
• Title Company Info
• Closing Date

Owner, by typing your name in the box below you agree that you are electronically signing this document. You declare that all your statements in this form are true and complete. 

I understand that I will receive an email copy of this form and that if I want a paper copy of this form, I may print it out.  I also understand that if I do not receive the for via email, I may request a copy by contacting Eclipse Property Management & Real Estate.

I understand that typing my name in the signature box below and clicking on the "Submit" button, constitutes my electronic signature, dated as of when I click on the "Submit" button, and that by doing so:

• I am consenting to use electronic means to sign this form.
• I am requesting to end my propety management agreement with Eclipse Property Management & Real Estate as described in the agreement and this form.
• If there are multiple owners, I attest that I have received their permission to terminate management and they agree to the terms laid out in this form.

I hereby affirm that the information I have provided is true to the best of my knowledge and belief. If I determine at any point in the future that the information I have provided is not true I will inform Eclipse Property Management as soon as possible.