What difficulties might surface when switching property managers?

[Kajohn Chen]

Let's say you already have a couple deals down in your portfolio, but decide later on to switch property managers, what kind of obstacles might this transition bring up?

[Maria Bakaj]

@Kajohn Chen Make sure that the cutover responsibilities and ownership of activities are clearly defined for the property manager rolling off and the property rolling on.  For example if the property is recently vacant, who is in charge of arranging the cleaners and making any necessary repairs.  If you are doing this with existing tenants make sure they are aware of the change and know the exact cutover date and the new property manager's contact info.

If this is a property manager for a large building, there will be a large learning curve-not just with the property but with all the tenants and their personalities.

If this is a property manager for individual investments you may need to pay for a few things you already have depending on the setup of your agreement.  For example, we already had existing staged photos but with our new property manager they took new professional photos un-staged and we could not opt out of it.