Property Management Transition

[Kristoffer Bergen]

Hey all.

I live in WA state and have several properties in surrounding Nashville, Tennessee that are managed by a very small property management company. After some recent not sitting well scenarios we want to go with another company OR manage the properties ourselves.

1) Recommendations for management companies that you have had direct experience with?

2) Managing remote when we live in Seattle, good/bad idea?

3) Regardless of 1 + 2 how and what are the steps to transition away from management company?

Thanks, any all advice welcome.

[Nathan Gesner]

Quote from @Kristoffer Bergen:

3) Regardless of 1 + 2 how and what are the steps to transition away from management company?

You need a clear, written understanding of how the transition will take place with your current manager. They should:

1. Notify the tenants of the change 30 days prior to the effective date;

2. Written confirmation that termination of PM services will be 11:59PM on [DATE]. Until termination, PM remains responsible for the properties and tenants in accordance with your PM Agreement;

3. On the effective date, transfer to you (or the new manager):

    - Copies of all tenant documents, including leases, applications, payment history, notes, etc.

    - All spare keys, openers, or codes

    - Security deposits

    - Copy of notification sent to tenants announcing the transition

    - Final statement showing what funds were transferred to you

    - Notice of any outstanding maintenance, unpaid balances, or other issues you should be aware of.

There may be more based on your situation.