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Updated about 9 years ago,
Best Way To Change Property Manager
Can someone give me advice on the best way to change property managers? I have 3 rentals in Maryland in the Odenton and Columbia, MD area, all single family homes from $235K to $275K range, acquired at various times. My full time realtor, part-time property manager has been managing them for the past 19 years. But in the past three years I have not been happy with the service, and most recently we both had two back to back tenants that I feel that my property manager just did a bad job. I was unable to get about a years worth of rental income on one specific property. We do have a good relationship. I am wanting to change to my dad's property management company that he has used for the past 30+ years. My dad's property manager transferred from mother to son, and now the son is more vigilant and more efficient.
My current exclusive lease brokerage agreement states that either party can terminate the agreement if 180 days notice is given, or it can be mutually terminated at any time. All 3 rentals are currently occupied under a lease, with one coming up for renewal. What would be the best way to transfer to other property manager? I am not sure if I need to give her 180 days notice, she may be willing to just mutually terminate. I don't know, and have not asked her yet.
Thank you.