Is It Time to Switch Property Management Companies?
Change can be hard. If you’ve been working with a property manager in Palm Desert for a while, you might hesitate to make a move, even if you’re unhappy with the level of service you’re receiving.
If you can communicate well with your property managers, you can talk about where they’re falling short of your expectations. But, when they’re unwilling to hear you or they become defensive and combative, it may be time to move on.
When we’re talking about an investment property that is worth as much as your rental property, it’s important that you’re receiving the best possible property management. You should rely on leasing and maintenance systems that take all the work and most of the liability off your plate.
Still not sure whether it’s time to switch property management companies? Let’s take a look at some of the situations which may leave you no choice but to upgrade your property manager.
You’re Taking on Too Much Risk
At Xepco Properties, we like to keep our owners out of the application process entirely. We don’t want to put you in the position where fair housing laws could be violated unintentionally. We also make sure that we’re the contact for your tenants. We enforce our insurance requirements and we work hard to keep your investment property safe and habitable.
You hire a property manager to leverage their experience and knowledge to limit your risk and liability. If you’re in the position where your decisions could violate a law or a requirement, you’re in danger of steep penalties, tenant complaints, and potential lawsuits.
There should be very little risk to you and your investment when the property is effectively and professionally managed. If your property managers are not up to date on all the state laws that impact rent control, evictions, Section 8 applicants, fair housing, habitability, and security deposits, you could find yourself in some legal trouble. Lease agreements need specific language, and you have to offer move-out inspections with your tenants before they leave.
Find a new Palm Desert property manager if your current management partner is unable or unwilling to stay up to date with the latest laws and the industry best practices.
You Aren’t Sure about the Condition of Your Palm Desert Property
Are you receiving inspection reports, with photos and recommendations of any preventative maintenance items that may need to be addressed?
You should be.
It’s important that you know where you stand. You cannot simply show up at the property and have a look around. Your property managers cannot do that, either. But, they can conduct a routine maintenance check-up every six months. That’s what we do, and we find it’s extremely effective in maintaining homes and detecting issues that need to be addressed immediately.
Maintenance and compliance inspections serve a number of needs:
- They help us ensure your tenants are following the terms of the lease.
- They allow us to look for any deferred and unreported maintenance issues.
- They show us whether the home is clean and well-cared for.
- They give us an opportunity to talk with tenants and ensure they’re having a great rental experience.
If you find that you have sudden maintenance emergencies and expensive repair bills that you didn’t see coming, it may be due to the fact that your property manager has no real idea of what’s going on at your property. That’s not great service, and a good reason to look elsewhere.
Tenant Quality is Deteriorating
High quality tenants are required for a profitable investment experience. If your property managers are having trouble finding, screening, and retaining good residents, it might be time to find a management team that can do better when it comes to tenant placement.
Good tenants provide a pleasant and easy rental experience. They pay rent on time and help take care of the property. They communicate openly and transparently, and they follow the terms of the lease agreement. They renew their leases and they love living in your home.
Bad tenants, however, will cost you money. They’ll neglect to report maintenance needs. They’ll move in people or pets who are not approved or on the lease agreement. They’ll leave property damage behind and they’ll pay rent late or not at all.
Evictions should be rare.
You need solid, highly qualified residents in your Palm Desert rental property. If your property management cannot provide a good tenant experience, you need to find better management.
Your Property Manager is Over Capacity
We have found that when a single property manager is responsible for more than 50 rental properties, they can get quickly overwhelmed. That’s when it’s hard to get a hold of your property manager. They might not return phone calls or text messages as quickly as you’d like. They’re likely to forget something or let balls drop as they struggle to keep up with an impossible workload.
Your rental experience will suffer when your property manager is doing too much with too little.
Instead of settling for a management company that is understaffed or working with high employee turnover, look for a team-based management company that ensures there’s enough talent and expertise to effectively manage all of the rental homes in their portfolio.
Palm Desert Property Management Pricing
Do you know what you are paying for, or are there hidden costs and fees that make no sense?
Good property managers are transparent when it comes to pricing. If your property management fees seem too high or reflect services that you’re not receiving, you should look elsewhere. Never settle for hidden fees or unexpected bills. Question them. Ask to be told in advance when there’s something coming that’s outside of the normal scope of what you pay.
When you’re thinking about upgrading your property management partnership, we hope you’ll think about us. We can provide the best leasing, management, and maintenance for your Palm Desert rental property. To learn more, please contact us at Xepco Properties. We’d love to help.
