How to Know When It’s Time to Switch Management Companies

It’s common for landlords to break up ties with their property management.

Here are five explanations of why this occurs:

Communication Breakdown: The property manager does not reply to calls, texts, or email messages from the landlord. This may anger the landlord since they feel disregarded by the manager. One business day is the standard response time for correspondence and landlord questions for many managers

Poor Property Maintenance: One of the property manager’s duties is to make sure that rental property is maintained. If the property is deteriorating and the management has not advised the landlord of the need for repairs, there is a severe concern. Maintenance that is postponed or disregarded may be quite expensive and should always be avoided.

Vacancies: When a tenant vacates, management should promptly fill the unit. A thorough marketing and tenant-finding approach will minimize the landlord’s income loss. Long periods of time without a renter and repeated evictions are incredibly expensive situations that make any landlord unhappy.

Accounting Errors and Inaccurate Statements: If your statement contains errors often, there may be underlying issues. Statements must be straightforward, and any modifications must be simply explained and backed up by supporting documentation. Landlords are at the very least entitled to timely and accurate information. Losing faith in any management may result from not receiving those.

Unauthorized Spending: The property management agreement should include a maintenance restriction that requires the landlord’s consent if an expense exceeds a specific level. The connection may suffer if managers fail to obtain the owner’s permission.

It is difficult to recover that trust and faith in a property management company when a partnership with them breaks down for whatever reason.

Please get in touch if you have any inquiries about property management.