When landlords choose to work with a property management company, certain expectations come with that partnership. The benefits of hiring a property manager (PM) should include a more streamlined process, more flexibility, and less stress for landlords. If your PM fails to do these things or does not deliver on their promises, it may be time to consider switching.
Our Henderson and Las Vegas property management team shares some red flags that could mean you should start looking for a more qualified property management professional.
1. Poor Communication
Communication may be the most important aspect of a property manager-landlord relationship. As a landlord, you should be able to get a hold of your property manager in a reasonable amount of time. Likewise, your tenants should expect timely responses to their requests or questions.
Communication Between Landlord and Property Manager
Landlords should never feel like their property manager is avoiding them. It is crucial that you know what is going on with your rental property and if there are any issues you should know about. These situations can cause a lot of stress for landlords, which is the opposite of what should happen when you hire a reputable property manager.
If a property manager is taking days to return your call or respond to your emails, it is possible it is taking just as long (if not longer) to get to other essential tasks. This is a clear sign you should think about switching to a more dependable company.
Communication Between Property Manager and Tenants
Part of the responsibility of a property manager is to communicate with tenants. This may involve:
- Explaining lease agreements and the rent process
- Responding to and scheduling maintenance requests
- Helping with tenant disputes
- Coordinating with HOA and enforcing rules accordingly
- Answering general questions about the rental property
While not all PMs will provide every service, landlords should always ensure that the type of tenant communication they need is covered.
If you are getting complaints from tenants regarding delayed communication or no communication at all from your property manager, it is time to cut ties. It is not worth losing tenants over poor communication.
2. You Have Too Many Vacancies
Property managers should be aggressively advertising and marketing your rental property to the right people on the right platforms to keep vacancies from sitting on the market for too long. Not only does it hurt your rental property income, but it can create a reputation of your rental property being less desirable than the competition.
While there are obviously some situations outside of their control, your property management company should ensure your rental vacancies are filled as efficiently as possible, at the appropriate rental price, and with qualified tenants. If you are seeing a pattern of your rental vacancies sitting vacant for prolonged periods of time, your property manager is missing the mark.
3. Failure to Comply with Laws
Another terrific reason for hiring a property manager is to make sure you are not violating any local, state, or federal laws when renting your property. There are rules you must follow to comply with the Fair Housing Act, safety requirements, privacy regulations, and more to avoid legal conflicts.
Learning and remembering all of these rules on your own can be difficult and time-consuming. However, a property manager should know everything pertaining to rental regulations and enforce them on your behalf. Failing to do this should be an immediate reason to switch property managers.
4. Excessive Delays in Repairs or Maintenance
Landlords have an obligation to their tenants to address maintenance requests in a reasonable timeframe. Your property manager should have connections with qualified vendors who can get the job done on time, correctly, and within your budget. When the request comes in, you should be able to rely on your PM to contact the appropriate vendor and follow through on the request from start to finish.
Your PM should also have a clear process for your tenants to follow to submit their maintenance requests. Whether they offer a dedicate Repair Desk for maintenance issues, or an online form to fill out through the website, it should be a quick and easy process. When your tenants do not have an easy way to share their maintenance requests or their requests go unanswered, you run the risk of losing them.
5. Lack of Property Inspections
Another essential role of a good property manager is inspecting the rental property and catching any potential violations or necessary repairs before they become major issues. These inspections should be completed annually at the very least.
It is your PM’s job to let tenants know of the inspection and coordinate times to complete a walk-through of the rental property and individual units. They should complete a full report that shares the results of the inspection and the condition of the property. Failing to complete this essential duty could end up costing you time and money in expensive repairs—or even legal fees from action taken against you.
What Are Qualities of a Good Property Manager?
If you have had an unfortunate experience with a past property manager, you may be wondering what to look for in your next property manager. Here are some qualities to keep in mind if it is time to switch your property management company:
- Excellent communication and quick response times
- Organized with great attention to detail
- Knowledge of the local real estate market
- Has built relationships with qualified vendors
- Offers cutting-edge property management technology
- Has a history of dependability and trustworthiness
When switching to a different property manager, be sure you take the right steps to notify your current PM and follow the requirements explained in your contract. Depending on the reason for switching, you may have to pay a fee for breaking your contract early.
Schedule a Consultation with a Professional Property Manager
If you are disappointed with your current property management company and have had issues or even lost tenants because they did not fulfill their responsibilities, remember that you have options. Working with a professional property manager means you have a team with resources, industry leading technology, and experience on your side to help streamline the rental process.
The Black & Cherry Las Vegas and Henderson property management team has dedicated property management experts who are ready to help you make the most of your investment. To learn more about our services, contact our property management team today to schedule a consultation!
