Property Manager Nonresponsive

[Robert Hetrick]

Hello BP,

I'm a new investor, bought my first IP in November last year, bought another one in December, and my third one in February.

Two of the three property managers have been good, emails or phone calls usually answered within 24 hours, 48 at most.

The PM for the property I bought in December has been a different story.  Sometimes I don't get a response for over a week.  However, if they need something from me, they always want a response quickly.

This last one involved some repairs on the house, they wanted my approval quickly, which I provided within an hour. on Feb 24.  At the end of February, I got the monthly statement from them that had some confusing things that I wanted to clarify.  Called them, no response.  Called them again this past Tuesday, still no response.

It leaves me wondering if they're this slow responding to tenant concerns-not good for retaining tenant.

The current lease ends at the end of March.  I don't have any information from them if or when they've tried to get a new lease.

They have a 100% satisfaction guarantee, I can get out of the PM contract at any time with 30 days notice with no penalty.  Would you go this route?  How would a tenant perceive a switch in PM 3 months?   

What would you do?  Am I expecting too much from a PM?

Thanks in advance!

Rob

[Courtney Jones]

My property management for the last 4 years have been great for my 3 properties. Before , I selected a company I looked them all up thru the BBB to look for complaints. The ones with the lest complaints..I started calling them, I took note to how they answered the phone and how long it took to answer. When the right person called me back....how long did that take. I reviewed this before I picked a company to go with. 

I agree with @Evan Polaski, you need new management. I don't manage property because I don't want to show up when a toilet is plugged. I want to be an investor. I want a company that manages to manage. Select a new one right away. You don't need the headache.  Check in with your tenants and see what they need. Have they made requests for repairs and not been responded too?  You don't want to find out in court when they leave because they were unhappy and quit paying their rent. 

All the companies I have check in with in my area charge 10% of the rent as a fee. For me its worth it because time is money. I hope you find a company that you can do great business with. 

Courtney