At Castle Property Management, we often talk to owners and investors who are not getting the service they need from their current management company. While we always welcome the potential to manage new properties for good owners, we talk openly and thoroughly about what is going wrong with the client’s current management company.
If the services and the communication are not up to industry standards, you should definitely consider switching management companies. However, you also need to consider whether you’re making it easy for a management company to manage your property. Setting expectations up front is crucial, and today we’re discussing some of the reasons that it might be time to drop your current management company and find a new one.
Managing Expectations between Managers and Owners
Before you hire (or fire) a property management company, you should examine the management contract in detail and discuss exactly what you need and what you expect. If you’re a hands-on owner who wants to be involved in every decision and every transaction, you aren’t going to be satisfied with a management company that only contacts you for expensive maintenance approvals or potential evictions. If you’re an owner who prefers to leave all the details and the decisions to your trusted managers, you won’t want to be bothered with a phone call every time the air filter needs to be changed.
Make sure what you want matches what the company delivers. This will save you a lot of frustration in the future. Talk about the services that are provided, the services that are extra, and how and when you want to be contacted. If everyone understands the expectations and needs of all parties before the relationship begins, you’ll have a better chance of finding success.
Concerns about Maintenance Costs and Communication
Maintaining your home is one of the major responsibilities of any good Ashburn property manager. If your property manager isn’t responding to a tenant’s maintenance requests or the condition of your home is not being preserved, you might need a new management company. If you’re emailing and calling your property manager because you don’t understand an invoice that was paid or you’re concerned work wasn’t done properly, they should respond immediately.
Communication Issues with Property Managers
Communication is critical, and your property manager should be accessible and available to you and your tenants. If you’re leaving messages that aren’t returned for days and emails go unanswered, then you have a major communication problem. Don’t settle for this. When your property management company isn’t communicating, you need to find a company that will.
Financial Issues and Rent Delays
We have heard complaints from owners who don’t get their rent until the month is nearly over. This goes back to establishing expectations. Find out when you’ll be paid, and make sure you receive an accounting statement with your rent. If you aren’t ever sure when you’re going to receive your rent, or you notice confusing entries on accounting statements, you might want to find a professional Ashburn property manager who provides detailed, accurate, and transparent financial information.
Switching property management companies can seem scary, but if you’re not getting the service and the results you need, it’s okay to seek help elsewhere. If you’d like to hear about our services, please contact us at Castle Property Management.