Managing your rental property can be an exhausting process, regardless of whether you stay near the location or far from it. Consequently, many landlords choose to hire a professional Phoenix property manager to reduce this hassle and ensure that their rental business runs smoothly. But what if the manager begins slacking off or not performing their duties?
Firing a new property manager is an unpleasant task, but if your home is suffering, it needs to be done. Here are a few signs that will help you determine when to fire your current manager.
Lack of Seamless Communication
Once you hire a property manager, they are supposed to take responsibility for your investment. A good manager constantly talks to you about your house’s needs, repairs, and tenant issues.
A bad manager, on the other hand, is difficult to contact. They do not reply to your messages, emails, or calls and repeatedly fail to give you regular reports about accounts and details of your investment. If your manager is inconsistent in the way they communicate with you, then it might be time to fire them.
High Cost for the Services Offered
Typically, a Phoenix property manager charges somewhere between 7-10% of the weekly income from your rental, depending on the services you offer. However, some managers charge huge amounts compared to what they offer. If you think your current manager isn’t providing your money’s worth and not doing their job properly, you might have to fire your property manager.
The Tenant Retention Rate Is Low
Landlords in Phoenix hire property managers to reduce vacancy rates by utilizing their tenant networks and marketing services. However, if you observe that your rental is unoccupied for long periods, it means that your manager is not doing their job effectively. Moreover, this may also cause you to lose more money than you make.
If you see that none of your tenants opt for a lease renewal, or are moving out before the lease is up, you may need to talk to your property manager. Taking these topics up with your manager might help shed light on some issues and inconsistencies on their end.
The Property Is Not Well-maintained
The most basic job of a Phoenix property manager is rental maintenance, and they are expected to keep the house clean, from inside and out. If you see that your unit is in a bad condition and does not look well-kept, it is a huge sign that your manager is slacking off. These signs may include an overgrown lawn, untrimmed hedges, damaged roofs, and other signs of neglect.
Every rental manager should conduct periodic inspections to ensure that the rental adheres to safety standards. These include move-in, move-out, and seasonal inspections to identify and repair any damage to the unit. Additionally, they must document the details and submit a report to the landlord. If your property manager fails to conduct regular inspections, they are compromising your investment and should be fired.
Simply put, the right property manager should make life easier for you as a landlord, and we at Keyrenter Premier Property Management in Phoenix do just that. With our personalized services and emphasis on transparency, we deliver optimum results to our clients and help them maximize the ROI for their rental properties.
For more details, contact us at Keyrenter Premier Property Management.