Knowing when to switch property management companies is very important.
We manage properties in Sugar Land, Richmond, Rosenberg, Missouri City, Katy, Pearland, and some pockets of Houston. Today, we’re talking about why you might need to find a new property manager, and what you should do when you realize it’s time. There are three key signs to watch for.
Sign No. 1: A Bad Tenant Has Taken Over
It is never good when a bad tenant is leasing out your property. It’s absolutely vital for a property management company to do everything in their power to lease out your property to the most trustworthy, reliable, lease-abiding tenant. This keeps eviction and tenant turnover to a minimum. Property management companies are able to do this through a high quality screening procedure. A thorough screening process helps you avoid tenants who could destroy the property or not pay rent.
Sign No. 2: Lack of Communication
Communication is essential when it comes to your property management company. But, there is a difference between too much communication and too little communication. When you have a property manager who is constantly emailing, calling, and asking the landlord a lot of questions, this can show signs that the property manager doesn’t have the confidence and knowledge to handle your property.
However, if you are constantly leaving messages and sending emails and you aren’t receiving any communication back from your property manager, it might be a sign that it’s time to find a new company to handle your property. Lack of communication usually indicates one of the following issues:
Negligence regarding the property’s condition.
Mishandling of money.
Lack of adequate bookkeeping or staff.
Lack of communication regarding the tenant and the property management company.
Sign No. 3: Lack of Follow Through
The last sign which could potentially show it’s time to switch property management companies is the lack of follow through. Property managers should not only find reliable tenants; they should be reliable themselves. It is important to have good follow through and transparency, and you want to know good business practices are in place. If lack of action becomes a trend, or certain things aren’t being completed as requested, you’ll wonder what’s going on behind closed doors with your tenant and your property. If you cannot trust the property management company that you are working with, you may want to reconsider doing business with them.
Your relationship with your property management company is crucial. You should always be aware of signs which might suggest you need to search elsewhere. As always, if you have any further questions or concerns, please feel free to contact us at Sugarland Property Management.
The third and most important step in your tenant screening process should be to verify rental history. Talk to current and previous landlords. Verify that the rent was paid on time, and no damages were caused to the property. When you verify this information, cross reference the landlord to make sure you’re talking to the real landlord, and not the tenant’s friend who is posing as a landlord. You want to be sure of who you’re speaking with.
