The short answer to your question is: 1) You will engage with a new Administrator/Recordkeeper who can perform what is called a "Plan Takeover."

This increased demand is in areas that all ready have limited supply.Since the rates started to rise, my appreciation forecast has been conservative (as I have indicated in numerous posts) for my San Diego market (I have been underwriting at zero appreciation near term) and fortunately for me the market out performed my forecast.  

Summary: I’m currently working on a project to analyze rental market trends and help real estate investors, landlords, and property managers identify high-performing areas.

I only buy Strong B or A and live with the 5 to 6% return but the real money is made in lending and new construction for us.

He had performed virtually no underwriting.  

There is certainly a strong correlation to credit score and tenant performance.

Look at median household incomes, look at market economy base and diversification, look at what's being done to protect and grow economic performance, just run the #'s and the message should be crystal clear. 

Create a bonus structure that gets those managers pumped to perform.

Tapping into that equity through a HELOC or cash-out refinance and reinvesting in higher-performing assets could improve their ROI significantly.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call!