Switching property managers isn’t as difficult as many may think. There are many misconceptions on when and how you can switch property managers, which can lead to owners putting up with mediocre or poor service, counting the days until their agreement is over, or their tenants move out. But this doesn’t have to be the case.
Don’t be stuck with a subpar property manager! If your property manager just isn’t cutting it and is not undertaking the responsibilities listed in your agreement, this might be the time to consider switching.
Common misconceptions about switching
These are some common misconceptions amongst property owners:
- I must wait until the tenancy is up before switching property managers
- It will bring a massive change and disruption to my tenant
- I will have to find new tenants for my property
- A new lease will have to be signed by my tenants
- It is just too hard to switch property managers
It is a common misconception amongst property investors that if they switch property managers it will disrupt their tenants. If a property manager has a good transaction process that considers the wellbeing of the tenants, the switch may in fact lead to happier tenants.
The truth about switching
You can change property managers whenever you’re ready, with minimal disruption to both you and your tenants. If you’re worried that you’ll be causing inconvenience to your tenants, don’t fret. The property management contract only ends the agreement between you and your current property manager, the relation between you and your tenant will continue. We have at times found that the tenants in fact welcome the change as they have received poor service on their end also. So, you can rest assured that everything will remain the same, just with a much better property manager.
Property management agreements will generally have a notice period for ending an agreement that can range from 30 – 90 days (depending on the state you are in).
Switching to Orbit Property
By choosing Orbit Property as your new property manager, the switching process is made even easier. All you have to do is sign up and sign the provided templated letter, that’s it!
We will take care of everything moving forward including notifying your current agent and handling the transfer. We arrange everything from preparing the paperwork to advising your tenants of the change and picking up of keys. You can simply sit back and enjoy the fuss free switch.