Manage PM Changeover

[Joel]

It hasn't come to this but I'm looking for info and considerations now rather than waiting till the situation arises.

Are there any specifics on how to manage a change in PM?

Is it better to do it at the end of a lease or mid-way through a lease, if there's a choice?

Any specifics to look out for regarding property conditions, tenants leaving the property in acceptable condition?

Thanks

 

[russellpeter]

It hasn't come to this but I'm looking for info and considerations now rather than waiting till the situation arises.

Are there any specifics on how to manage a change in PM?

Is it better to do it at the end of a lease or mid-way through a lease, if there's a choice?

Any specifics to look out for regarding property conditions, tenants leaving the property in acceptable condition?

Thanks

Hi Joel

its quite easy to change agencies.

on my website i have posted a lot of information on the process to make it easier.

can view here
let me know if you have any questions and the info changes from state to state

 

[thatbum]

Have you read your management contract regarding how to terminate the agreement?

 

[Joel]

Have you read your management contract regarding how to terminate the agreement?

Yes, I have to give the agency 28 days notice. So that's the easier part. Harder part is managing any associated risks. Not knowing what the risks are makes it even more difficult to me.

One risk I can think of is when tenant moves out, the new PM may blame the old PM for poor documentation etc, which results in tenant being able to get away with damage, unclean property etc. I would expect the easiest path for the new PM to get the landlord to just pay for costs rather than chase the tenant.

Maybe I'm over thinking this and if I select a good PM then it should be ok. Selecting a good PM at reasonable prices seems difficult.

Also, thanks Russel for you link.