If you’re wondering how you change property managers, this article will walk you through the steps you need to take.
Hey, it’s Matthew Whitaker here back with another question owners ask. This question is:
How do I fire my previous property manager?
So we get this question a lot when somebody wants to change property managers and so I’m gonna take you through some steps.
First thing I would make sure you look at your management contract.
Unlike our management contract which is like just a 30-day notice, you can get out for any time any reason.
A lot of property managers charge you a ton of fees and maybe you can’t actually even terminate them until the end of the lease.
So that you need to check your management agreement and see what it says.
The next thing I would say is, serve notice in accordance with the management agreement.
Now, typically you can do this via email, some people make you send a snail mail, but make sure you serve notice in conjunction with that management agreement.
The next thing I would say is, ask them to stop leasing the house and ask them to stop doing maintenance on the house.
Now, there are times when you’ll need to do some maintenance on the house. I mean, things will still break. Just because you’re changing managers does not mean things will break.
But particularly around leasing, I wouldn’t even give it to the new manager first even if you’re still paying for some things.
Because once they don’t have to deal with the tenant what is the obligation to put a good tenant in there?
So we’ve had problems with that in the past. Don’t want that to happen to you.
The last thing I would say is, understand that the closeout does take some time. Be sympathetic to the previous manager. It is not like a 30-day and all the money is sent.
I mean, we get bills that come in. So just understand that this closeout, even after the actual termination date, is gonna take some time.
So that’s it. If you want to change property managers, these are your steps. I’m Matthew Whitaker with gkhouses.