They are switching banks as of the end of Nov, 2023 and it's creating a little anxiety on how smooth a transition that is going to go. 

They communicated well throughout the process, answered all my questions, and made everything feel smooth and straightforward.

We are on the ground floor and everything about this rental property is operating smoothly. 

With the collapse of STR's we have transitioned 30 properties from STR to annual in 2 years.

As a rookie investor, transitioning your primary residence into a long-term rental can be a smart move, especially if you’ve already added value through sweat equity.

Many investors successfully manage this process remotely, especially if the new property management company is experienced with out-of-state owners.Once you identify a new company, here’s a general outline of the process:Review Your Current Contract – Check for termination clauses, notice periods, and any penalties or fees.Notify Your Current Manager in Writing – Provide formal notice according to your contract terms.Coordinate with Your New Manager – The new company can often assist with the transition, including collecting tenant records, keys, lease agreements, and security deposits.Communicate with Tenants – Your new manager will typically send an introduction letter to tenants explaining the change.Ensure a Smooth Handoff – Confirm that the new company gets all necessary documentation and access.It’s also wise to ask the new company about their onboarding process, how they’ll handle the transition, and how they maintain communication—especially since that’s been a major issue for you.

The concept of purchasing a multi-family property, utilizing one unit for STR, and eventually transitioning the entire property into an STR setup after a year is quite appealing.My journey began with properties I owned, where I dove into the STR industry.

I am an independent personal trainer but have made the transition to working in a gym.

I thought this is so smooth.

Not so much in bad locations that are boom/bust or for properties where the underwriting depends entirely on low vacancy rate and smooth operating, which doesn’t always happen.