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lfshadow

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  1. I just hired my first property manager for a commercial property I lease as a restaurant in TN. I hired him because I live in Colorado and the old tenant is moving out and a new one moving in. I am already having problems with this PM. I believe he is telling the tenant his own version of the terms of the lease. He and I have not yet discussed the terms of the lease, however he is making them up himself without my consent or knowledge and then telling the tenant what they are. For example, he sent me a copy of a standard lease form that he uses and he had already filled out parts of it, such as the term of lease was filled in as a 5 year lease. However, he and I had never discussed how long the lease would be. I told him I wanted to do a 2 year lease with the new tenant. He emailed me and tried to talk me into doing a 5 yr. and then he wrote, "I am afraid to go back to him now and say that you only want a two year lease." I know I am new to working with a PM, but this just doesn't seem quite right to me. Is it acceptable for a PM to make up the terms of a lease without even consulting the owner? Shouldn't a Property Manager consult with the owner about the terms of the lease BEFORE discussing them with the tenant? Is it legal for him to do this? Is it grounds to fire him?
  2. Thank you Mr. Doan for your reply. Currently my CPA is my Trustee. He does my personal taxes, but I pay him for this with personal funds, not from the Trust. He is charging me a quarterly fee, taken out of the Trust funds. Is this unethical? It seems to me that I should be the Trustee while I'm still living. He should be the Successor Trustee and he should not be charging the Trust Trustee fees until after I die. Correct? Thank you.
  3. I have a Revocable Living Trust and I have a "Trustee" of this Trust. But what is an "Active Trustee"? What is the difference between a "Trustee" and an "Active Trustee"?
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