Why Most People Don’t Switch Property Management Companies

Dustin Edwards • March 22, 2022

Switching Property Management Can Be A Difficult Decision

 Why Most People Don’t Switch Property Management Companies


It is difficult to understand when you should switch
property management companies. Many times landlords feel as though the property management company has to have done something wrong in order to make the switch; this is certainly not true. There are a wide range of reasons to switch property management companies. We invite you to discover a few items of why people switch property management companies in this article.


How do I Compare Property Management Services?

Comparing property management companies periodically (at a minimum annually), is a prudent and effective method to understand if your property management is keeping up with the industry. You’ll find the top 3 categories to evaluate your property management company listed below. 


  1. Communication
    - Good communication is essential when running any business, and managing your Long Beach rental property is no different. Conflict is often the result of a misunderstanding, due to a lack of communication. A property manager’s job is to make sure everything runs as smoothly as possible while communicating effectively to minimize any misunderstandings. This means everything from how a property management company communicates with an owner to the tenant calls that they manage for your property.
  2. Knowledge - A property management company should be able to provide reports on your rental property. A financial report that records rent revenue and maintenance costs. And a physical report to provide the landlord with information on necessary repairs, general maintenance schedule. The provided information will aid in evaluating the property’s results. 
  3. A property management company should be able to keep up to date with the changing laws in order to avoid any unexpected expenses since laws in Long Beach and California change often
  4. Tenant Satisfaction - A competent property management company should understand that keeping tenants satisfied is as important as maintaining the rental property. Though tenant dissatisfaction can’t always be foreseen. In order to reduce tenant turnover it’s essential for a property management company to be able to keep up with market trends, maintenance and provide customer service to tenants.


How Do I Part Ways with My Current Property Management Company? 

First, check the  cancellation policy section of your contract with your current property management company. The policy may ask for a waiting period once you inform them of termination, usually 1 or 2 months. This section might also include an outline of any fees that are associated with canceling their services. 


If you are under a yearly contract with your current property management company, you may have to prepare for possible costs. Not only the canceling fees but you may be required to provide payment for any work orders or bills that have not yet been accounted for. These tend to come up after the contract is terminated.


Since your
property management company may be taking care of communication with your tenants, be sure to inform your tenants that there will be a change in management or ask if your new property management company has a transition letter you can use. Tenants should be informed in writing if you intend to take over yourself or have another property management company take over. The information in the letter should include who will replace the previous company, who to pay their following rent payments to and when the management transfer will happen. To ease any insecurities with the tenants, inform them that their security deposit has also been transferred.


What to Expect from the New Management Company

You should expect them to manage day-to-day affairs. They should be able to run your Long Beach rental properties day-to-day matters including handling tenant requests, complaints or emergencies and documenting them. They should keep a database of well qualified prospective tenants for any future vacancies that may arise. Professional rental analysis of your area and your competition. 


At Beach Cities Property Management, our mission statement is to manage residential income properties with a completeness and totality that relieves our clients from any and all concerns with day-to-day management and accounting.


If you are looking to change your Long Beach property management company and have questions about our monthly property management services feel free to call us at (562) 888-0247 or feel free to fill out our
free rental analysis to see what your rental could yield today.


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