Should I fire one of my owners?

[Phillip Austin]

As PMs, 20% of our portfolios take up 80% of our time. A few clients or properties can suck up all of our time and attention and ultimately, prevent us from taking on more business. Our end goal is to be in a position where we can be very selective and choose the clients and properties we work with so that doesn't happen. We desire a certain level of autonomy and trust with our clients. It takes time but that's the desired outcome. 

If you're a PM, how would you handle this owner? Would you fire them and give them a referral? Try to realign expectations? 

If you're an owner and investor, how hands-on are you with your PM?

This client was transferred to me by another PM in our company because her portfolio is maxed out and she doesn't have capacity to take on more properties.

This client had been self-managing a short-term SFR for the past several years and recently converted it to LTR. Her and her husband are getting older so they hired us to manage.

Tenant moved in the first week of December and there's been an excess of communication from the owners for somewhat minor issues or concerns.

- Tenant submitted a work order for low water pressure in 2 bathrooms

- Tenant submitted a work order because the garage door doesn't close all the way and left a 2-3 inch gap at the bottom

- Owner initially refused to address either work order

- Owner demanding the tenants place furniture pads on each piece of furniture

- Owner calling multiple times to speak through the work orders, asking when they've been scheduled, calling a couple days later requesting the invoices

- Owner calling because they want to access their storage in the basement so they can remove several pieces of furniture being stored

- Owner now emailing requesting multiple property inspections throughout the lease cycle

- Owner questioning my experience and relative PM knowledge because I'm not following up with her in a timely manner (the following day after the work order)

Keep in mind, this is 2 weeks after the tenants had moved in and the tenants are very happy in the home.

This is something we see on a regular basis. However, I thought it would be interesting to get general feedback from the BP community. Am I being harsh by letting this owner go?