When should you look at switching Property Managers?
A great property manager is a critical part of your investment experience. Their role has the responsibility of ensuring your investment home stays in good condition, is rented by the highest quality tenants and ensuring that it is vacant for a limited period. The role is a very important job that can cost you money if it isn’t completed well or in the correct way.
There a numerous reasons why your property manager may not be up to the appropriate standard. If you’re experiencing long periods of vacancy; poor or no communication from your Property Manager; the condition of your property is not being maintained; or you feel like you are doing the jobs that your property manager should be doing then it’s time to change!
So when is the best time to change Property Manager?
To be frank, if you aren’t happy with your current service then change now! Many people believe that waiting for the property management service to improve will yield a result. But that result is often at a cost to you through money and added worry.
A good Property Manager will handle the change over for you with ease.
Do not fall into the trap of thinking that it is difficult to change property managers (or that you should only change property managers at the end of a lease). This is a common misconception that needs to be broken! You can change your Property Manager at anytime, by providing the appropriate notice as detailed in your Agent appointment agreement. Ideally, it is always better to change Property Managers mid-tenancy to avoid interruption or vacancy periods.
What if I change at the end of a tenancy?
This is possible but does come with some added potential for loss to you as the owner. The current agent that is managing your property should complete the a tenant vacate process before being able to hand the property over to a new agent. This process can take a few days to complete and if the tenant is required to rectify any damage or the property hasn’t been cleaned properly this process will take longer.
Only after the current Property Manager is satisfied can the bond be released to the old tenant and the new Property Manager is able to receive the new keys.
The new Property Manager is required to wait for the above process to be carried out before advertising for a new tenant. This can waste time and money while your property sits vacant!
You can save time and money by switching agents mid tenancy. This is a very easy process that we are more than happy to step you through it. This will help to ensure the tenancy of your property is smooth and trouble free!
If you’re not receiving the best service from your property manager it’s time to change!
For any further information or to discuss your investment property needs please contact us today!