Changing property management companies can feel like a huge hassle. However, if you’re not getting the service and the value you expect, you should considering looking elsewhere for St. Louis property management.
It’s always a good idea to discuss your expectations openly, and if you have tried that but you’re still not seeing results, start the process of switching management companies.
Here are five signs it’s time to move on.
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Terrible Communication
Property managers are busy, and you shouldn’t expect them to pick up every time you call, but if you find your calls aren’t being returned or reaching anyone at your management company is impossible, there’s a problem in the way they’re managing their business. Your relationship isn’t important to them if they’re not communicating. When you have questions or concerns, it’s reasonable to expect your property managers to help you.
Here’s an additional problem. If they’re not responding to you, they’re likely not responding to your tenants, either. That’s going to cause more vacancies, additional expenses, and higher turnover costs. Look for a more responsive property manager.
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Property Management Pricing Doesn’t Make Sense
Good property managers are completely transparent when it comes to pricing. If your property management fees seem too high or reflect services that you’re not receiving, you should look elsewhere.
You should expect monthly statements that demonstrate where your income is and where your expenses are going. If there are unclear deductions, charges that you did not authorize, or a refusal to walk you through these explanations, you’re not working with the best team out there.
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Long Vacancies
You don’t need to lose money on long vacancies. When your property is left unoccupied, you aren’t earning any rent. Not only that, you’re paying out-of-pocket for utilities, maintenance, landscaping, pest control, and added security. Vacant homes can attract attention from vandals and criminals.
When you find your St. Louis rental property is vacant for weeks and even months, you need to find out why. Talk to your property manager and make sure it’s priced right. A good manager will talk about improving property condition to attract good tenants. There will be a strategic marketing plan in place.
If your management company has nothing to offer when you ask why your property is still vacant, you should find someone else to lease it. You need a lower vacancy rate and a plan for renting your home quickly.
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Unresponsive Maintenance
Maintenance needs to be treated with a sense of urgency, even if it’s a routine repair.
Good maintenance policies protect the condition of your St. Louis investment property. They also keep your tenants happy. If you find that repairs aren’t being made or there is a lot of deferred and unreported maintenance discovered during inspections and turnovers, there’s something wrong with the way your management company is handling the rental property repairs at your property.
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Problem Tenants
If rent is coming in late every month or your tenants are causing damage to your property, you need to address this with your management company. Conflicts with tenants, angry complaints from neighbors, and lease violations are an indication that your property managers do not have good relationships with your residents.
These are five real reasons to find a new St. Louis property management company. If you’d like to talk about how we can raise the standard of success when it comes to leasing, managing, and maintaining your rental home, please contact us at Amoso Properties.
