Working with property managers in North Carolina

Member since 2023 · 12 posts · 5 votes

I currently own a duplex in Kannapolis, North Carolina. I chose a management company and he was doing an awesome job, but then he sold his company. Now the new company seems to be in over their heads. I'm giving them a little room to get their act together (1-month) but it seems like this month they struggled to properly enforce the loan agreement, properly manage funds, and properly deliver rent. One of the responsibilities of the the management company is explicitly stated as "Collect all rentals and other charges and amounts due under tenant leases and give receipts for amounts so collected". To be clear, I am not asking for legal advice, asking how other property owners have handled situations like this in the past.

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Bryce JamisonPro Member
Rental Property Investor · Mebane, NC · Member since 2015 · 494 posts · 439 votes
5mo
Your first property manager may be the first example I've ever seen of someone describing their PM as "awesome". Usually I hear they're very poor, like your new one, or just meh.
Your path forward seems to be the same for any vendor that isn't meeting their obligations. I would terminate them and start the process of vetting a new PM.
Actually what I do is manage my own properties. The time you'll spend managing your manager may be the same or more than the time it would take to manage a duplex. No one is going to care more about your property and bottom line than you, and as you've seen, some companies are in over their heads.
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Jim Johnson
Real Estate Agent · Memphis · Member since 2026 · 626 posts · 359 votes
5mo
I've seen this happen after acquisitions... the systems, staffing and communication structure change overnight and owners suddenly feel like they lost visibility into the property.
Giving them a short runway to stabilize probably makes sense but for me the key would be watching whether the problems are isolated transition issues or signs of deeper operational disorganization. Delayed rent delivery, weak communication and inconsistent enforcement usually point to process breakdowns more than simple growing pains.
In situations like this, I'd usually start tightening expectations quickly:
• Clear reporting timelines
• Confirmation of how tenant funds are being handled
• Defined communication cadence
• Written clarification around unresolved issues
Most owners I know don't immediately switch PMs after an acquisition, but they do start reevaluating once it feels like they're spending more time managing the manager than the property itself.
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Todd AndersonPro Member
Real Estate Agent · Cape Coral, FL · Member since 2023 · 392 posts · 176 votes
5mo
@Daniel Lang,
I don't know how to solve your current problem except to say you need to feel comfortable that the property manage that you work with should have your best interest in mind.
I have helped a number of investors find properties in the Charlotte area. We find this market one of the best for a number of reasons. I can strongly recommend the management company that we use for our investors. I have worked with them a number of times on challenging situations and the communication has been great. I would think that they work in your area.
Carolinas Dynamic Realty
Matthew VanHoughton, Sr., RMP
704.523.7368 – Office

Hope this helps and you get things running smooth again.
[email protected]651-492-5652
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Jimmy LieuBusiness Member
Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
5mo
Quote from @Daniel Lang:

I currently own a duplex in Kannapolis, North Carolina. I chose a management company and he was doing an awesome job, but then he sold his company. Now the new company seems to be in over their heads. I'm giving them a little room to get their act together (1-month) but it seems like this month they struggled to properly enforce the loan agreement, properly manage funds, and properly deliver rent. One of the responsibilities of the the management company is explicitly stated as "Collect all rentals and other charges and amounts due under tenant leases and give receipts for amounts so collected". To be clear, I am not asking for legal advice, asking how other property owners have handled situations like this in the past.
Hey Daniel, I think you’re handling it the right way by giving them a short runway to stabilize after the ownership change, but also paying close attention early instead of letting problems drag out for 6-12 months. In my experience, transitions between PM companies can get messy fast because systems, staff, and communication all change at once, and sometimes the new owners underestimate how much operational work is involved. What I’ve seen work best is setting very clear expectations in writing and tracking everything closely for a couple months — rent collection timing, owner draws, maintenance approvals, accounting statements, lease enforcement, response times, etc. If they’re transparent, responsive, and actively fixing issues, that’s one thing. But if you start seeing excuses, inconsistent accounting, or poor communication become the norm, that’s usually a bigger warning sign. A PM company is handling your asset and your cash flow, so trust and consistency matter a lot more than giving endless chances. One thing I’d also recommend is quietly interviewing a couple backup PM companies now so you’re not scrambling later if you decide to switch. Even if you stay with the current one, it helps you benchmark what good management should look like in your market.
[email protected]614-300-7535
Jimmy Lieu, Red 1 Realty4.9124 Reviews
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