Making the decision to switch San Jose property management companies is not easy, especially if you value relationships and longevity when it comes to your investment properties. However, if a property manager is not meeting your expectations or failing to do what they’ve promised to do, it’s likely time to look for a company that can provide better services and more value.
Check your management contract before you make any moves. There may be a penalty or a notice period that’s required. As you’re exiting your current management contract and looking for a new property management partner, don’t burn any bridges. Focus on the results you need for your rental properties, not the personal differences you may have with your current property manager.
Here are some of the signs that might be telling you it’s time to switch companies.
Vacancies are Too Long
Every day your rental property is vacant is a day that costs you money. A good property manager will fill vacancies quickly, using a combination of:
- Sound pricing
- Good marketing strategies
- Responsive showings
When you find your San Jose rental property is vacant for weeks and even months, you need to find out why. Talk to your property manager about how to get a good tenant in place quickly. If they don’t have any answers or they’re not willing to change course in order to solve the problem, find a management company with a lower vacancy rate and a good relationship with their residents.
Communication is Too Slow
Property managers are busy, but so are you. If you find your calls aren’t being returned and your messages are left unanswered, there’s a problem in the way they’re managing their business and their relationships. You should have an online portal where you can see the details of your income and expenses as well as view invoices and accounting statements. But if you have a question that falls outside of what you already have access to, it’s reasonable to expect your property managers to help you.
Here’s the problem. If they’re not responding to you, they’re likely not responding to your tenants, either. That’s going to cause more vacancies, additional expenses, and the degradation of the rental experience for all parties. Find a new management company that values communication and accessibility.
Maintenance is Not Responsive
A reliable response to routine and emergency maintenance is a basic function of any property manager.
Good maintenance policies protect the condition of your investment. They also keep your tenants happy. If you find that repairs aren’t being made or there is a lot of deferred and unreported maintenance discovered during inspections and turnovers, there’s something wrong with the way your management company is handling the rental property repairs at your property.
Look for a property management partner with a preferred list of vendors who are licensed, insured, and responsive. You should also expect work to be cost-effective. If maintenance is going wrong at your San Jose rental home, it’s a good reason to switch management companies.
Rent is Late and Accounting Statements are Missing
You should expect your property managers to collect rent on time and enforce the lease agreement. You should also expect to see routine accounting statements that reflect what you’ve earned and spent on your property. If you don’t understand what you’re reading or financial reports are unclear and lacking detail, you need to find a new property manager with better property management accounting practices. You’re not only trusting a management company with your property – you’re trusting them with your money.
These are some of the best reasons to find a new San Jose property manager. If you’d like to hear about our successes, please contact us at Aborn Properties (408) 272-4100 or firstname.lastname@example.org.