Time to find a new PM

[Andy Chen]

Dear BP,
     I inherited a PM when I bought my turnkey rental last year. Since the beginning, there was not any conversation or update initiated by the PM and I always had to track him down after I noticed an issue. My tenant had missed payments for a couple of months and I had to find out myself when there was no payment sent to my bank. Long story short, I am really not confident about my PM and would like to know what happens if I want to hire a new PM in the middle of the contract and/or in the process of evicting my tenant. This being my 2nd long-distance rental and I had totally no idea how to approach it. Your feedback and advice are greatly appreciated.   
    

Thank you for taking the time reading my post.   

Andy

[Nathan Gesner]

Based on what you've shared, I'm going to disagree with everyone else on here. They all recommend you review the terms of your contract but why should you be obligated to fulfill the terms of your contract when the property manager is clearly not holding up his end of the bargain?

I would start by searching for a new property manager. If you send me a PM I will give you a short list of how to research and find someone professional.

while you are searching for a new property manager, start documenting every way that your current property manager has failed to protect you and your interests or honor the agreement. once the new property manager is located, give your current property manager notice of his failure to properly manage the home and communicate. let him know you want to terminate your contract in 30 days with no penalty or fees. Give the property manager 7 business days to acknowledge receipt and confirm the termination date. Once confirmation is received in writing, start the process of transferring everything over to the new property manager.

if your current manager refuses to let you out of the contract, contact the governing state board and inquire about filing he complained. In my experience, they will typically take a verbal complaint and then contact the property manager to hear his side of the story. If you have even a slight chance of winning the argument, that call from the board will likely put the fear of God in the property manager and he will cut you loose rather than face an investigation from the state.