There are a lot of other reasons landlords aren’t happy including increased fees, constant staff turn-over and one-off incidents that aren’t handled properly. Just like a baseball game, most landlords as a rule work on the three strikes you’re out rule. If a batter is off their game the pitcher strikes them out and a new batter steps onto the plate. There is a lot of competition in the property management now and there’s no need for landlords to put up with a bad property manager or company. Changing agents is actually very easy.
In TWO Simple steps you can change agents:
- Research a new company that fits your needs ideally one local to the area your property is in, they fit what you are looking for and offer what your existing company doesn’t. Whether that’s better communication and customer service, cheaper fees or more knowledgeable team, etc.
- Send written advice to your current agency that you are changing agents. If the property is vacant you can usually change immediately otherwise most agencies offer a 30-day handover.
Your new agency will send through relevant paperwork and take care of the rest, including notifying tenants of the impending change, arranging to pick up keys and paperwork in 30 days. Nothing else needs to be done on your end as a landlord.
Some common concerns landlords have when changing agents:
The new agency won’t know the property/tenant history?
We will collect all the relevant documentation including tenant’s application forms, General Tenancy Agreement, Entry Condition Reports, compliance certificates for smoke alarms and water, maintenance, etc. We will also have a copy of the tenant's full ledger so we will be able to determine their rental history.
Will my rent still be paid on time?
Your rent from your old agency will be collected and paid up until the handover date. Rent will then be collected by your new agency and disbursed as per your instructions.
I don’t have time to change?
As we mentioned in two simple steps you can change agents, do your research on who you would like to manage your property. This can be done online if you are really busy, see who is has a lot of rentals in your area, see how well they are presented as a brand as well as the properties they are trying to lease. Check reviews and websites. Alternatively, if you are local pop in and have a chat with the head of the property management department to determine if the people managing your investment are the right fit. Alternatively, ask around word of mouth is usually spot on with Property Management. Once you’ve made your decision and send written notice to your current agency.
I like them, but the fees are higher?
Like anything, you get what you pay for. Sometimes the cheapest isn’t necessarily the best and generally when a property management company is budget on price they are usually budget on other areas as well. Whether that’s communication and customer service, or an inexperienced staff member managing properties. Generally, the more you pay in management fees the more work is being done to ensure a better return on your investment. A quality property manager will work hard to secure better tenants, achieve maximum rent and ensure you don’t need to stress about what is happening with your investment.
Remember, if you aren’t happy with your current property manager, change is easy once you decide to do it. Just like changing banks, you aren’t locked into a lifelong contract, just make sure you do your research, you certainly don’t want to jump from the fire into the frying pan.
A successful modern property management business should be focused on communication and customer service, competitive on fees, but not necessarily the cheapest, utilise good technology and have an experienced team in place.