Firing a property management company can seem scary. These are the professionals who have access to your property and your financials. Change can feel impossible. But if you’re not receiving the services and the value that you expect from your management company, you should consider looking for something better.
Professional Grand Rapids property management should provide you with peace of mind as well as top-notch leasing, management, and maintenance services.
When we have an owner or investor come to us after a bad experience with another property manager, it’s usually because they’re being charged for more than they’re receiving, or they’re finding that communication is poor.
Here are some of the reasons you might want to fire your Grand Rapids property manager and look for something better.
Communication isn’t a Priority
Your property management company should be responsive and accessible. If your property manager isn’t available to you, that probably indicates he or she is not available to your tenants either. Tenants need to reach your property manager if there’s an emergency, and you need to reach your property manager when you have questions or concerns. When phone calls aren’t getting answered or returned and no one is responding to your emails and texts, you need to find a management company that takes communication seriously. It’s hard to trust people who refuse to talk to you.
Accounting Statements and Reports Aren’t Reliable
You should expect accurate, detailed, and transparent accounting from your property manager. Statements should be available every month and you should be able to view income and expense reports at any time through an online portal. This information should be easy to understand. If you’re noticing hidden fees or you’re not getting your rent payments on time or the maintenance bills are adding up quickly but nothing ever seems to get fixed at the property – it’s time to hold your property managers accountable.
Tenant Placement and Retention is a Problem
Tenant screening should be rigorous, consistent, and thorough. If you’re finding that tenants are routinely late with rent, needing to be evicted, or violating the terms of the lease, your property managers are not doing a great job with screening.
When tenants leave after just one year and don’t have any interest in renewing their leases, you are faced with additional turnover and vacancy costs. That could mean your property manager isn’t providing responsive or valuable service to your tenants. When tenants seem to be a problem for you, don’t be afraid to find a better management company. Tenant retention earns you more money on your rental property.
Unresponsive or Unnecessary Maintenance
When we hear about maintenance problems with former property managers, the complaints usually fall into one of two categories. Either the property manager isn’t protecting the condition of the home, and there’s deferred or unreported maintenance issues piling up, or there are outrageous maintenance costs and unnecessary repairs going on that’s causing higher bills and larger expenses for owners every month.
A balanced and smart approach to routine, emergency, and preventative maintenance is critical when you’re working with Grand Rapids property managers. You want to trust that important work is being done safely, correctly, and cost-effectively by licensed and insured vendors. You don’t want to pay for the same job twice, nor do you want to spend thousands of dollars on unnecessary cosmetic repairs.
If you’re ready to consider better Grand Rapids property management, please contact us at Short South Realty Group.