Why you can't replace your property manager
Updated: Jan 18
Real estate owners often hire property managers to take care of essential issues. This person oversees the tenants and does the hard work for you. The property manager gives you needed advice. In conclusion, they serve as your assistant in the rental business.
You might be thinking of replacing your property manager, in case there are some issues that they have created. However, some problems might show themselves.
Your Property Manager Knows You
Every landlord has a personal policy. While one may have a no-pets policy, the other might accept tenants with pets but reject couples or roommates. When you hire a management company, your property manager starts learning about your preferences.
They pay attention to your needs and your style. At first, they will come to you with many questions, but the time will come when they will know what you need and what you would do in certain situations. When you replace the manager the whole process begins all over again.
Every time there’s a maintenance issue, instead of working through the problem independently, they will come to you to get permission. According to ProInvest Realty whenever there’s a problem with the tenants, the new manager might have dealing methods that you may not agree with. The property manager you have known for a while will do things your way automatically.
Moreover, it’s going to take a lot of time for you to grow fond of the new professional. You are going to need time to trust and get familiar with them.
Your Property Manager Is Familiar With Your Tenants
It’s one of the property manager’s responsibilities to communicate with your tenants. Collecting the rent, helping them with maintenance issues, and answering questions. Your tenants will get familiar with the property manager. This is good for your tenants’ comfort.
Your property manager will know them as well. Being familiar with them well makes it easier to attend to their needs. A new property manager might have difficulties in that aspect. It is going to take time for your tenants to get used to the change and your new property manager will need time to adjust.
Your Property Manager Has All of the Property Information
No, this isn’t a threat. Your manager has all of your property information that’s important to supervise the real estate. They will not use it against you… you are protected by law in that aspect.
This part is important because, again, it’s going to take a lot of time for the new manager to learn all of the facts that the old one might know by heart. As a property owner, you will have to give your new employee a lot of information all at once. They will often come to you with questions. You are going to have to be patient and wait for them to get familiar with the apartment or the house you are renting out.
Therefore if you plan to change the property manager, we suggest you think about this thoroughly. Getting accustomed to the new employee will take some time. However, if you think it’s necessary you should take action.
If you haven’t hired a property manager already, click here to learn more about our services and how an experienced property manager can share some of your burdens.