Transitioning from pro PM to self managing

[Jeff Lee]

Howdy BP Nation!

I'm fed up with the poor response times, the high expenses, and generally poor ROI (time and money) on using a professional property manager on one of my SFRs, so I'm planning on going to self-management. I've already signed up for Rentredi, and have talked with the current tenant about changes that will soon take place. I've also pre-filled a new Virginia lease agreement I got from the BP Forms section (since the lease included an agreement with the property manager).

Other than 1) Actually firing the PM, 2) Having a separate bank account to hold the tenant's deposit, 3) Having the old lease end and new lease start the next day...Are there any other considerations I need to take into account? Any issues with dropping the old lease because of firing the PM?