How to fire your property manager?

My understanding is that your new PM will do it for you i.e. fire the old one, or you can do what I did and just write them a letter to tell them that their services are no longer required from (date).

Before you choose a new PM I would suggest you interview them to make sure they will look after the property, and that they will see to it that the tenants do too.

Lots of other Q’s like: what are the management fees (fees vary from state to state), what will they do to find a tenant when it becomes vacant, how regularly do they inspect the property, will you be informed it the rent is in arrears, etc etc Ask them everything you can think of, even the obvious.
Once you have made your choice, keep in touch with them maybe once a month to let them know you are a landlord who is interested (some aren’t believe it or not).

A gift at Christmas to show your appreciation (if they have been doing a good job)is a nice gesture and may also help to minimise your vacany rate.

If you want to take over the management of the property yourself, please be aware that this option can be the stuff nightmares are made of.
IMO a good PM is worth her/his weight in gold.
Regards,

Sharon

Hi Boris

Do you have a management agreement with your existing property manager? Somewhere it will set out the time frame for terminating the agreement. If there has been some serious breach, ie., they have stuffed up badly, then my advice would be to instigate the termination immediately and collect keys if you wish to manage yourself.

I agree with Sharon though, the various residential tenancies acts can be a minefield and you can come quite unstuck!! Identifying a great property manager is essential.

Good luck[whip]

Yasna & Simon