what legal right do I have as an owner for a property mgt. co. tospend my money on misc. expenses like blinds?

Question

I own a condo and am renting it out in Portland, Oregon through a property management company. I signed an agreement stating that "the mgnmt co. is to maintain the property in good repair in accordance with the management plan, local codes and any other applicable laws of this state or its subdivisions. This includes, but is not limited to, cleaning, painting, decorating, plumbing, carpentry, grounds care, and such other maintenance and repair as may be necessary subject to limitations imposed by owner in writing in advance. Expenses associated with maintenance and repair shall be paid out of owner's operating client trust account." "agent shall make or cause to be made ordinary and reasonable repairs, without the prior written approval of trhe owner, in an amount not to exceed $500.00, except emergency..." The mgnt co. spends so much of my money/ mo on misc. expenses and this last time was $300 for blinds and unspecified misc. repairs. I feel I have no rights and all my money is

Answer 1

Get a new management company if you don't like the way this one operates.

Answer 2

The rights of the owner are outlined in the contract. When you live in a group-ownership community, these kinds of contracts often have clauses that are angering for some of the tenants that other tenants don't care about.

Normally, the repairs made by management are going to be for maintaining the structural soundness of the buildings as well as the value of the property, and often the value is maintained by doing a lot of superficial stuff that you may not think is needed, but the owners have every right to do it within the boundaries of your agreement.

The part of your contract I don't understand is this "owner's operating client trust account". It sounds like the money in this account belongs to the agent in "trust" of the owner for the owner's use.

Who is the "agent"? Is that you? What money is put into this account?

Answer 3

Your contract was probably written by the management company, and thus its terms are as favorable to them as they can get.

You probably have a right to terminate the contract.