Changing from one property manager to another can seem like an overwhelming task. It doesn’t have to be.
Making the switch can be awkward and sometimes difficult if there are gaps in communication in the first place. Here is a list of few things to help you get straight to the point and move towards a smoother and more efficient way of owning an investment property.
1. Check the terms of terminating services of your management agreement with your current property manager. Typically they require a notice of 60 or 30 days termination in writing. Otherwise, you may incur unforeseen fees for not following the process.
2. Once they acknowledge receipt (make sure they do that) then you can proceed with whatever instruction they request but don’t forget that you are entitled to a few things as well. A copy of the lease, a copy of the tenants’ ledger, a copy of your entire owner ledger, any keys/remotes to the property, any pending maintenance requests. This is also a good time to mention who your new property manager is and cc them on the email so that they can begin to communicate on your behalf during this transition.
Below are a few other things you could request however, it is important that you know that the property manager is not required to provide this information to you, such as, maintenance history, tenant application, communication between the tenant and the property manager.
Don’t forget to verify that your previous property manager has your most current address on file so you can receive your last 1099 in a timely manner.
Once all of that is done, your new property manager can really take over the scene, we can handle the heavy lifting from here. We will coordinate the pickup of items, transfers utilities as needed, set up your tenant with all the online access they need.
It’s that’s easy, one email really can change your life. Sit back, think of how much better you will feel when you know you found a company you can trust with one of your most valuable assets.
RentWise Property Management. Less Hassle. More Happy.