Ready for a change? Don’t worry - a good management company leads to a stronger, more profitable asset.
What really happens when you switch property management companies? Making the move from one company to another is often the right decision, and I applaud owners who take that step. The reason is simple: the property itself often has solid potential, even if the management has been poor.
A property can be a true cash cow by paying down the note, covering rent, and still putting money in your pocket each month. Having a bad management company doesn’t mean the investment itself is bad. With time and rising rents, what once felt like a losing situation can turn into a strong, profitable asset. So if you’ve decided to switch, here are just some insights on what happens next to get you ready.
What happens during the transition? When we take over from another property management company, the first thing we do is review the leases and agreements. Then we move everything into our systems so things run smoothly. We also talk with tenants about maintenance apps and how our process works. Most of the time, people are going from a poor experience to a better one, which makes a big difference.
"A good property management company brings in tools that tenants appreciate, like a maintenance app and a 24/7 hotline."
The benefits of better management. A good property management company brings in tools that tenants appreciate, like a maintenance app and a 24/7 hotline. We also do regular inspections, which help set a clean baseline for the property. From there, we streamline collections, handle deposits, and make the entire process easier to manage.
Possible challenges to expect. Sometimes the transition isn’t perfect. If the previous company didn’t do a good job, we may find issues during inspections. That part can feel frustrating, but it’s necessary to establish where things really stand. It still takes some work, but all good management companies know how to handle the handoff.
Long-term upside. If you stick with a better system, the property becomes much easier to manage and continues to perform like a cash cow. Even if it feels like it’s just covering expenses for now, appreciation adds another layer of value that pays off in the long run.
Switching property management companies doesn’t have to be overwhelming. Done right, it keeps your property on track as a solid investment. If you have questions, reach out to me at (210) 802-9959 or send an email to info@peaceofmind.co. I always enjoy talking about property management.