How to deal with property management company disappearing?

[James Wierzba]

I have a few properties in Indiana and one property near Kansas City, MO.

I've owned them for a few years now. I bought all of these through turnkey companies that do the rehab and also do property management, and I hold on to them long term.

Recently, over the past few months, the PM for my Kansas City property has been communicating less and less. They failed to fill a vacancy over the past few months, were not responding to most of my communications, and recently they went offline (their site is offline, and their email domain is also offline, emails bounce back).

I have never even seen this property in person.( I hired my own trusted inspector when I made the purchase -- which gave me the confidence to purchase) -- but now I feel a little lost in this current situation.

What are my options at this point? Find a new PM? I will have to re-read the PM agreement I have on file with them to see what my outs are. I admit I did not consider this scenario (ghosting me) when I made the purchase.

[Nathan Gesner]

I recommend you start by searching for a new property manager immediately. Explain the situation to them and they may be able to help you figure out a way to deal with the current property manager. Read through your property management agreement and have it available to answer any questions.

You may consider contacting the state governing board to report your property manager for failing to communicate. They will reach out to the responsible broker and that should be enough to spook them into communicating with you.