A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Leaving your Property Management Company
In our last Blog, we ask the question why your PropertyManagement Company ignores you?
In this article we are going to look at what an investment
property owner can do in order to rectify the situation. Like I said in the
last article, many of the larger management companies understand the stress
that a client goes through when they think about finding a new company. Those
management companies count on that stress to keep their clients on the books
even though they don’t treat them very well. There are ways to make a move much
easier for the property owner who wants to move their business elsewhere.
The first thing that a client needs to do is never allow a
management company to withhold information. The property owner needs to get
every piece of information and keep it themselves. They need to have copies of
all leases and they need to have all the information on the Tenants. For
example, one of the problems with moving from one management company to another
is the process of getting the information back from the old management company
to the new company. If you have copies of all that information then that takes
away the stress of that process. If you have to wait for that information it
can lead to delays and that is not necessary.
The next thing is an investment property owner should always
keep the Tenants deposit and not allow the Management Company to hold it. You
do not want to fight with the management company over getting that deposit
back. There is no reason to allow the management company to hold the deposit, just
remember not to spend the money.
The next way to make leaving your management company much
easier, and this goes back to having all the information about the Tenant,
including the contact information, make sure the Tenant sends the last month’s
rent to you, the property owner. You don’t want to have the old management
company control your money once the relationship has degraded. Once you give
your notice that you are leaving, contact the Tenant and let them know that you
will be taking over until a new company is hired. You then can send the
management company their last payment. It is much better for you to owe the
management company rather then they owe you.
Going into a relationship with a management company, you need to always keep your eyes wide open and not just let things go on until something happens that makes you want to leave. Staying one step ahead will give you the advantage that you will need if you decide to leave.
A.D. Cantelmo Property
Management Specializes in Property Management in Orange County