How soon is too soon to fire your property manager?

[Patsy Waldron]

I bought a quadplex in a city a couple of hours away and hired a property management company. There was one vacancy when I closed on Dec. 1st. I wanted some repairs and updates done before it was rented (update electrical panel, change out a couple of outlets, some cosmetic updates). A week after closing, I walked the property with the maintenance manager, who was supposed to get back to me within a week with an estimate. My plan was to have the unit ready to rent by Jan. 1st.

They did not submit their estimate until a week ago (i.e. 6 weeks after I closed, and 4 weeks after they were supposed to e-mail it to me). The estimate was for slightly over $4,000- for a one-bedroom apartment that will rent for $500! 

At this point, I am beyond annoyed with them, and I want to switch to another property manager with a greater sense of urgency. Oh, and did I mention that I am paying them close to 15% of gross rents?! 

Anyhow- I am wondering if it is too soon to switch PM, and if the change will look bad to tenants (second change within two months). What do you think?

[Phil Earley]

Closing on a property in December when the world goes on vacation may have something to do with  the delay.  

Also, if you close on a property in Georgia the first week of deer season, put extra time in your spreadsheet to get contractors out to your property:)