All Forum Posts by: Connie Silva

David,

How it has worked for us is the owner gave the management company notice. We then sent out letters to the residents informing them of the change and who to make the rental checks payable too and how to pay their rent. I normally go pick up all the leases and keys the week prior to the transition. Any monies the management company collected after the cancellation date should be forwarded to the owner.
My owner has fired two management companies and one was a smooth transition and the last was a nightmare. Hoping your transition will be a smooth one.

Best of Luck

Bruce,

That is your call. You are the owner and the management company works for you!! Decide what is important to you first and foremost. I am a product of an owner who hired supposedly the biggest and best Management company in town. They would not return his calls or emails. Did a poor job of maintaining his properties and frankly moved anyone and everyone in just to fill vacancies.
Also, keep in mind you pay regardless of performance. Then they tack of fees for writing checks, up charge on maintenance among other things.
Joel is correct, find a management company that deals with your type of property.
Never forget you are the owner and you make the rules!!!

Best of Luck

Tina,

Prior to renting any property you should set up your criteria. I will share with you what mine are and I have very few problems collecting rent and rarely have to file for an eviction and I manage 108 units. Income should be at least four times the rental amount. I do a credit check and only look for outstanding major utility bills, no eviction filings within the last 48 months, 10 year national criminal background check, no serious misdemeanors or felonies, 100 year for sex offenses. Take the time to contact the previous landlord and cross check the address listed on their application to the credit report.
You can google for companies that have all in one reports that check credit, criminal and evictions. I cannot suggest the company I use as they are only for companies with a specific amount of units.
Be very careful with the whole I will wait until I meet them approach. Discrimination is no joke and having a criteria and following it protects you from discrimination claims.

Good Luck