If you’re not satisfied with your current property management company, it may be time to make a change. Switching property management companies doesn’t have to be a hassle—with the right preparation, you can make the transition as smooth and painless as possible. To give yourself the best chance of success, here’s what you need to know about switching property management companies.
Do Your Research Before You Switch
It pays to do your research before you make any decisions. Check out a few different companies and compare their services and rates; read up on customer reviews; talk to other landlords in your area for their honest opinions. A little bit of preparation can go a long way towards helping you find the perfect new property management company for you.
Review Contracts Carefully
Once you’ve chosen your new property management company, it is important that you review their contract carefully before signing it. Make sure you understand exactly what services they will provide and when they will be provided, as well as any fees associated with those services. You may also want to discuss any additional services or features that aren’t listed in the contract—you never know what might be available!
Make Sure You Have All the Necessary Documents
Before making the switch, make sure that all of the necessary documents are in order. This includes leases, rental agreements, tenant applications and records, maintenance requests and invoices from vendors, inspection reports—basically anything related to your rental property that could help familiarize your new property manager with your business operations. Having everything organized will make it easier for them to get up to speed quickly once they take over managing your properties.
Communicate With Tenants During The Transition
It’s important that tenants understand what is happening during this transition period so that there are no misunderstandings or miscommunications down the line. Make sure that all tenants are informed about the change and know who they should reach out to if they have any questions or concerns going forward. It also helps to introduce them directly to their new property manager so they feel comfortable reaching out when they need assistance in the future.
Making a change in property managers doesn’t have to be complicated or difficult if you approach it correctly by doing thorough research ahead of time, making sure all documents are organized, and communicating clearly with tenants throughout the process. With these steps in mind, you can rest assured that switching property management companies will be a seamless one!