How to deal with Bad property manager

Question

Answer

Terminating a PM relationship is commonplace. Here is a solid summary from an internet search that will give you all you need to move forward:"A notice to terminate a property management agreement is a written communication to the property management company that informs them of the intention to end the contract. The notice should include the date of termination and the reason for ending the agreement. Steps to take Review the contract: Understand the terms of the agreement, including the notice period and any termination fees. Send a written notice: Send the notice by certified mail to document the date of termination and proof of receipt. Plan for a smooth transition: Respect the notice period and prepare for any potential disputes. Retrieve important documents: Request copies of all records and documents, including security deposits. Verify tenant notification: Confirm that the property management company has notified the tenants. What to include in the notice The name of the property managerThe date of terminationThe reason for terminationA statement that the notice is in accordance with the contract What to consider Most property management agreements require a notice period of 30 days or more. Some contracts may include a termination fee. If the notice period is not respected, the property owner may be accused of breaching the contract."(End)The first step is to know the contractual term of termination. An attorney is not needed provided your not making a claim of fraud or misconduct/damages are being sought. Keep in mind, termination can take 30 days so you'll want to provide notice prior to the termination date. Send the notice by Certified Mail AND a separate mailing with 'proof of delivery required' (a cheap date with the post office).Hope this helps.

Answer

Ouch... sounds like you may have gotten involved with an inexperienced PMC. It is so important to vet the people you work with.

Answer

@Venka Pulla Many smaller PMCs are unprofessional, they can also be vindictive.So, suggest you get all the info you can from your Owner Portal before terminating them.Also, hire a new PMC BEFORE terminating the current PMC.Then, terminate and work closely with the new PMC to get tenant payments switched over and whatever documentation is missing.Hopefully, you'll screen for a new PMC better than you did to pick the current one!

Answer

@Venka Pulla It’s frustrating when a property manager isn’t meeting expectations, but transitioning to a new property manager is typically straightforward if you follow a few steps: Review the Management Agreement: Carefully read your current Property Management Agreement (PMA) to understand the termination process, including any required notice period. Even though your PMA expires in two months, you may be able to terminate earlier if the agreement allows.Follow the Terms: Send a written notice of termination as specified in the PMA. Be sure to follow all formalities, such as sending via certified mail if required.Transfer Rent Payments: Notify tenants in writing that rent payments should be made to the new property management company moving forward. Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company. If they fail to comply, you may need to involve legal counsel or contact your state’s real estate commission.Hire a Reliable Manager: Finding a professional, responsive property manager is key. We regularly take over properties from managers who haven’t performed well, and it’s a seamless process when done right. A good manager will handle tenant communication, security deposit transfers, and ensure a smooth transition for you. Changing managers doesn’t have to be difficult—following the agreement and partnering with a competent new PM will help you get things back on track.

Answer

If your agreement with them is coming to an end, let them know that you will take over management of the property (or if you have another PM who that will be). They need to transfer the tenants' deposit to you (or your new PM) and let the tenants know that there is a change in management. Try calling the PM from a different phone number and also try the number on rental listings (if it is different from their main number).

Answer

This sounds like you need an attorney to do this. If you can't get ahold of the PM, demand letter is next.