If the owner wants to cancel the PM contract before placing the first tenant, we can do so.
You will need to update Zoho if the owner asks you to cancel the agreement. Please ask them for the reason, then add the property to terminations as follows:
Zoho -> Properties -> Property Terminations (add a new entry for this property).
This will send an alert to the management team, and they will then work on retention strategies to retain this owner.
You must add this to Property terminations as soon as the owner tells you his intention to terminate, so retention efforts can start immediately
There may be a Cancellation fee applicable for termination as follows:
If they terminate before the inventory check, then there is no cancellation fee.
If they terminate after the inventory check, a cancellation fee will apply. Usually this fee is Rs. 2900 + 18% GST, but sometimes this will differ across agreements. Please check the agreement to confirm.
You can check the agreement by going to Zoho:
Properties -> Property Contracts -> Filter by PropID and check "Signed Agreement'
Below is a screenshot showing the cancellation fees in a sample agreement:
