These are strong signs that you should consider firing your property manager.
As a landlord, there are many reasons you considered hiring a property manager in the first place. For some, they don’t want the hassles and want more of a true passive income from real estate. While other landlords hired property management out of necessity. Possibly due to distance from the property, time, or even the size of their portfolio.
Whatever your reasons for hiring a property manager were, these are strong signals that you are not getting the proper customer service you pay for.
Our list is only a starting point. Your property manager may fail at all or only one.
You Don’t Hear From Your Property Manager
It is a fine line for how much communication landlords want from their property manager. For landlords who prefer to delegate everything, the essence of little communication was a key reason for outsourcing management.
Regardless of your preferred communication amount, it is more important about what is not being communicated.
Based on your preference, landlords do not always need to know about the tiny details. However, you should be informed of the important items. Such as when rent is getting significantly late, more than a week. Or, major repairs are needed that should be bid out to multiple contractors.
If your property manager routinely does not inform you of major items, consider a change.
Your Property Manager Is Hard to Get A Hold Of
Reality: you hired a property manager to help relieve you of stress.
Therefore, when the property manager is always difficult to get a hold of or never responds it starts to add stress.
It should never take multiple attempts every time you want to communicate. Likely your property manager has other clients, tenants, and properties to attend to. However, if they are professional then they will make an effort to respond to you sooner and not need your second attempt.
At the beginning of your partnership, ask the property manager their preferred method of communication. Most property managers prefer email as it allows them to work uninterrupted in case they are handling an emergency at another unit. This lets you know and gives less of an excuse.
By the way, the best property managers actually ask for your preferred method!
Your Property Manager Doesn’t Inspect the Property
A common scope of work for every property manager is inspecting the property. In fact, during negotiations for property management, you need to ask them how often they inspect the property.
There are several benefits to inspecting the rental property. It allows your property manager to verify the tenant isn’t damaging the property. Helps to proactively plan maintenance between tenants to limit any vacancy time. As well as forms a business relationship with the tenants.
At a minimum, property managers will inspect either annually or between tenants. Yet some managers and property management companies sell their higher rates because of services such as this. So make sure you are getting your monies worth!
If it is included in the Property Management Agreement, then the manager needs to provide this inspection as well as an official inspection report. Ideally without you having to request and micro-manage.
Your Tenants Are Ignored
Want to know an easy solution to minimize vacancy and retaining tenants longer? Don’t ignore them.
Crazy, we know.
Yet it happens far too often with tenants. Tenants pay good money to rent your property and expect the landlord/manager to keep their end of the deal.
If a tenant submits a request for repair, your manager needs to coordinate to remedy the issues. Not to mention to avoid any legal issues with Landlord-Tenant Laws.
And when the repair is substantial enough, the property manager needs to inform you as well. Speaking of repairs…
High Maintenance Costs and No Vetting
Probably the most common reason for firing a property manager: maintenance.
Landlords hate surprises, especially expensive ones. When your property manager fails to inform you of maintenance or the cost, that is concerning.
Property management companies with a lot of units quite frankly do not have the time to vet the repairs. Since their managers are often overworked, the easy solution is sending out a handyman for any issues.
This leads to the infamous $75 light bulb changes! Something so minor and avoidable but managers hit the Easy Button to move it off their desk.
When your property management company fails to vet repairs and determine if they can be deferred, that is profit coming directly out of your income. Not theirs.
Property Manager Selects Too Many Bad Tenants
Look, it happens. Property managers and landlords occasionally pick a bad tenant. That isn’t the issue here. As well, it depends on the class of rental property as that defines the pool of applicants.
When your property manager constantly picks bad tenants, that’s the problem. These are tenants that are destructive, constantly pay late, or even get evicted.
This could indicate a few issues about the property manager:
- They don’t vet their applicants well, if at all.
- They didn’t market the property well enough to get better applicants
- They simply placed the first warm body to get their leasing fee
Regardless of the reason, it is extremely concerning. In fact, it significantly increases your risk as a landlord!
During the property manager interview process, we encourage you to specifically ask questions about their tenant screening process. If it doesn’t include running a background check and calling former landlords, don’t hire that manager!
They Don’t Use Property Management Software
There are old school property managers that do not use property management software.
Why? We don’t know.
Property management software helps every party involved! Therefore, we don’t understand why any would choose not to use it.
If your property management company uses software that you don’t have access to, run. Or, if it only shows the information the property manager wants you to see.
Property managers on Burbz are transparent and open to you seeing the information. Here’s how Burbz is unique for landlords:
- Rent payments go directly to the landlord. Not the property manager.
- Landlords receive rent notices exactly when the property manager does.
- Get access and keep all of your portfolio data. Meaning no transferring process if you get a new property manager!
- Landlords have the exact same access to information as the manager. Because you know, it is your property…
If you are worried about your current property manager, consider a move. It is important to terminate the property management agreement properly. Or, provide notice of non-renewal.
When you’re ready, find your next property manager on Burbz. Landlord-friendly property management so you can reduce your risk and work with a good property manager. How is landlord-friendly property management different:
- Month-to-Month property management contracts
- Landlords set the scope. Want to co-manage? Just say the word because you set the scope!
- Easy process to request proposals from property managers in your area
Consider a landlord-friendly property manager today, filling out a Request For Proposals only takes 2 minutes. Find out why landlords are falling in love with property management designed for landlords because, well, we are landlords ourselves!