A property manager is the most critical individual that you need to keep your investment moving and growing. They serve as your feet, eyes, mouth and brain in handling tenants in your property and ensuring that it’s not vacant for long.
So, if you are an investor, you should have a property manager that is good at doing the job. If you already have one but are not satisfied with the service they give, perhaps you’re considering looking for another. If you already want to change your property manager but don’t know how to do it or if it’s the right time, read on to help you make an informed decision.
How Can You Know if You Need to Change Your Property Manager?
You wouldn’t be at this point if you were satisfied with the service your property manager gives you. So, if you’re already feeling dissatisfaction, that’s a clear signal that you need to change your property manager.
If your property is experiencing a long vacancy period, perhaps your property manager is not doing their job properly. It’s a sign that you need to look for a more competitive manager to keep your investment optimised. Also, if you’re experiencing poor communication, lack of maintenance in your property, frequent complaints from tenants or you feel like you’re the one who’s already doing the job, then don’t hesitate to make a switch and look for another property manager.
When Is the Best Time to Change Property Managers?
If you are looking for an exact date, we cannot give you one because only you can determine when is the best time to change your property manager. If you start experiencing any of the mentioned signs, that’s your cue to change your property manager. The time is now. In the end, you’re the one who will suffer if you just ignore your property manager’s poor performance.
Is It Possible to Change Property Managers Anytime?
One of the most common misconceptions of investors about changing property managers is that they cannot change during an ongoing tenancy. But, this is not true because you can change your property manager any time. You don’t have to wait for the tenancy period to be over before switching to another property manager because they can just turn over the tenant’s concerns and documents to the replacement agent. Who knows? Maybe your tenant will be happy with the switch as well since they may not be satisfied with your current property manager.
However, it’s still possible to switch property managers after the tenancy period. But, this poses more risk of loss because your current property manager still needs to complete the vacate process before they can turn over everything to your new agent. The vacating process may take days to complete, and your new agent cannot advertise your property until the process is over. If this is the case, your property sits vacant in the market. That’s why it’s ideal for you to make the switch mid-tenancy so that your new manager can look for new tenants while they are doing the vacating process.
Conclusion
Aside from finding a reliable, competent and professional property manager, the transition process can also be challenging. But, if your current property manager is not doing well already, don’t hesitate to search for a more experienced agent because it’s your investment that’s at stake.
If you are looking for a reliable and experienced property manager, switch to Own Better! We provide high-quality property management services in Sydney. Our customer-centric approach strives to ensure both landlords and tenants have a seamless experience and positive experience. Get in touch with us today!
