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When to tell your Property Manager "You're Fired!"

By Marcel Dybner

· Property Investment,Real Estate Blog,Rental Property,Property Management,Property Investing

When should you fire your Property Manager?

If you're already asking the question, then the answer is probably much sooner than you think.

As soon as you start feeling your agent isn’t capable of doing their job right, it’s time to look for a new one. Take a look at these red flags and if they’re ringing true, then it’s time to start looking elsewhere.

1. Lacking confidence

If you’re wondering whether or not your property is being taken care of, you may need to rethink your choice of managers. You should not have to worry about your property if you have a capable manager. Sure, you can worry if there’s something that needs repairing or there’s a major issue, but not the ability of the manager to handle everything cost-effectively and in a timely manner.

2. Struggling to Communicate

If you’re battling to communicate with your manager, that’s a big red flag. Your agent should be able to tell you if anything out of the ordinary happens with your property and should be readily available when you need them. You should be able to get hold of your agent directly – someone dedicated to your property and who will answer your calls or return your messages and phone calls. 

3. Watching the pennies

Sometimes it really is worth paying more for something and that rings true with a property manager. Paying a bit more will get you top quality management and a lot less headaches. You may also get less repair bills. You don’t want a manager who is making up repairs, for example, to try and get more money off you to fix the problems. With a manger who costs a little more and who is accessible, you can rest assured that if something is wrong, it’s legitimate.

The Bottom Line

When you hire a property manager, it’s exactly like hiring someone to work for you. So when something doesn’t work for you or you have any doubts whatsoever, you can do something about it. The investment; the property: they are yours. It’s worth the extra effort finding superb agents or managers even if you have to go through a few bad eggs to find them.
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