Property manager just terminated contract. Best options?

Question

My property manager just gave me 30 days notice to terminate management contract for my single family home in California, and I have to decide if I will try to manage it from afar for 2-3 months from 3000 miles away (Alaska to  California) or hire another property manager.

Am probably putting it up for sale sometime in the Dec 2018 or Jan 2019 (I'm 80% sure of this)  so that complicates the situation.

A good tenant is living there (11 months now) and property inspection Aug 2018 shows he's keeping the place clean.

Will it be close to impossible to find a new property manager for a short time frame of 2-6 months?

If I maintain a cordial relationship by phone with the tenant how, how difficult will it be to issue / enforce a 30 day or 60 day notice to vacate when the time comes?

What problems should I anticipate in the near future with or without a new property manager?

Any replies would be appreciated!

Account Closed · Answer

@Tricia O'Brien my company manages and sells homes in California. I am happy to talk if you are interested. Even if we are not the company for you, I am willing to help point you in the right direction.

I don’t know your reason for waiting to sell until December or January, but that is generally a slower time to sell, so if there is not a strong reason to do it then, you might want to think about either listing it soon or waiting until April or May to hit a more active time in the market.

Feel free to PM me if there is anything I can do to help or if you just want to ask questions.

Nathan Gesner · Answer

If you are leaning towards selling, I would start researching an agent and head that direction. I wouldn't bother with a property manager but I would definitely be careful since you aren't in the area to watch the home. Maybe  you can find a good agent that will do a drive-by inspection once a month for $100 or something while waiting to sell.

You don't need to "force" a termination because the lease will terminate unless you renew it or allow it to continue. Simply contact the tenant 90 days prior to termination and let them know - in writing - that you intend to sell and will not be renewing/extending their lease.

Ali Boone · Answer

I agree with Dustin's response. Good idea on checking with the agent who may sell it.

Outside of that, I've done the long-distance thing of managing a property myself when I knew I had a good tenant. It was when I moved to California from Georgia and hadn't found a property manager for the property yet. But the tenant was abnormally good and I had nothing to worry about. The key with that was, other than her being really good, was I had a friend local to the property who could swing by for me if there was anything maintenance-wise or whatever. And just generally he could keep an eye on the property for me. Do you know anyone local to where the property is that could be those eyes for you? Maybe the agent could even since he/she would have a vested interest in the property being taken care of.

Corby Goade · Answer

I'd be shocked if you can find a PM that would agree to jump in for a couple months. It's likely a lot of work for very little pay. Do you have any personal connections in the area? Is the tenant solid? If so, maybe you just pay a small "retainer" fee to your friend or family member to take care of any issues that pop up in the meantime.

Why wait to sell? Any reason you wouldn't just put it on the market now?

Dustin Woodley · Answer

What part of California? I would suggest going on and find the agent that is going to help sell it! All good agents have contractors that do work for them. So you collect the money and take the call if there is a problem. But if you need a person to help that is local they can be that person to call for a few months! Then the agent is also already familiar with the property. Also some properties look better with furniture than with out... If that is the case the agent could take the pictures now before it is vacant. Also depending on the language in your lease you may be able to put it on the market before they leave (Hoping for a contract before they move out). If you need help finding someone in that area just let me know and I will see if I know anyone in that area... Good luck and I hope this has helped!!