Taking back properties from property managers
Hi everybody,
We have a few rental properties that we have hired property management companies to take care for us. They are not up to our expectation and we want to take our properties back to manage them ourselves. I am teaching myself as I am going through the process and all after. I have a few questions that I need some advice on:
1. I am asking for the property manager to send me the following info. Do I miss anything else?
a. Keys and codes and master codes for digital lock
b Move-in property condition reports
c. Move-in property condition photos
d. Lease agreements or renewals with tenants, including any addenda
e. Tenant ledgers
f. Tenant applications
g. Tenant contact information and renters insurance (if applicable)
h. Security deposits
2. One of my tenant has been a late payment since the start of the lease. He eventually paid all the rent by month end though. He is a vet and my property manager said he rent with her before and always pay (I assume late but will pay). My husband was fixing the house, met him and talked to him during the showing time. We do have a concern that the income from that place they are working may pay enough to support the rent. The house is in a location that might take a month or two to lease. Would you still want to renew the lease with him when it is up? Anything to consider and what would you do if you were me?
Thank you,
Ruby