How is your relationship with your property managers? Hopefully, your Bradenton property management company is performing well and effectively leasing, managing, and maintaining your rental properties.
If you’re not getting the service and the value that you were promised, it may be time to switch companies.
Change can be difficult. But if you find you’re at the point where your needs are not being met and your investment portfolio is not performing the way it should be, you should look for help elsewhere.
Here are some of the things that will tell you it’s time to move on.
You Can’t Trust Your Property Manager to Communicate
The communication between a property owner and a property manager needs to be open, transparent, and reliable. If your messages are not returned and you can’t seem to get in touch with your management company about critical questions you have, you might want to consider working with someone else.
A good property management company will provide several ways to communicate with them so they can ensure they’re accessible and responsive. There should be an online portal where you’re able to see everything pertaining to your property and get most of your questions answered. You should trust your property managers to answer your phone calls, texts, and emails.
Property managers also need to communicate well with tenants. If you aren’t getting the responsiveness and accessibility you need from your property manager, your tenants probably aren’t getting great communication either. This becomes a major problem when tenants need to discuss maintenance or their rent payments. Don’t hesitate to switch property managers if you aren’t getting the communication you need.
You’re Unsure about the Condition of Your Investment
There shouldn’t be any question that your rental property is in excellent condition and your tenants are following the terms of the lease agreement. You should have access to inspection reports and your property managers should be able to get inside the property at least once during the tenancy, either to complete maintenance work or to conduct a routine inspection.
If you find that your property management company isn’t inspecting your home and looking for deferred maintenance or lease violations, you should be concerned. If they haven’t been inside the home for a year or two while the same tenant is in place, you may find a lot of problems and possibly rental property damage after those tenants move out. When your property manager cannot assure you that your investment is in good condition and your tenants are taking care of the home, look for someone else to help you.
Vacancy Rates are High and Tenants Don’t Renew
To effectively earn cash flow and increase ROI on your Bradenton rental property, you need to keep it occupied. A good property manager will limit your vacancy time by marketing your home strategically and ensuring it’s priced correctly and in good condition. If your property has been vacant on the market for weeks or even months and you aren’t getting any updates about showings or interested tenants, your property managers aren’t doing their jobs.
Avoiding turnover is another important function of a professional Bradenton property management company. If you have a good tenant in place, your manager should be doing everything possible to retain that tenants. If you’re not getting your home rented quickly or you’re losing tenants after every lease ends, you need to consider working with someone else.
There are dozens of other problems that can pop up; accounting statements that don’t make sense, maintenance issues that get ignored, and rent that doesn’t come in on time. Don’t settle for terrible service. Address your concerns with your property manager and if nothing comes of it – move on.
We’re here to help if you’re looking to upgrade your Bradenton property management team. Contact us at Anchor Down Property Management.