Is it time for you to find a new Walnut Creek property management partner? Change can be scary, especially when investment property is involved, so you may have been putting this off for some time. But, if you’re not getting the service and value you deserve, you absolutely need to look elsewhere. The relationship you have with your property managers has to be based in trust, transparency, and results. Don’t be afraid to switch if you can’t seem to get what you need with your current property manager.
Here are some of the big reasons you should consider finding better management.
You’re Not Getting the Communication You Need
Your property manager may say they couldn’t call you back or return your message because they were busy. We get it – we’re busy, too. But so are you. And so are tenants and vendors and contractors. Communication should not be avoided. It’s customer service.
When it seems as if your calls aren’t being returned and your messages are ignored, there’s a problem in the way your management company prioritizes their day to day business. They aren’t putting enough value in your relationship.
Here’s something else to think about: if they aren’t responding to you, how do you know they’re responding to your tenants when there’s a maintenance emergency or a problem paying rent?
Find a new management company that values communication and accessibility.
You’re Spending Too Much on Maintenance – With No Real Returns
Maintenance costs are always going up, and this is a simple fact of investing. Repair issues do not get better with time nor less expensive, and you need to work with property managers who are good about preventative maintenance and keeping the cost and hassle of emergencies to a minimum.
You can’t expect your property manager to eliminate the need for maintenance and repairs. But, you should not be paying for the same repairs every six months. A good property manager will make sure you’re getting what you pay for. They’ll have extensive relationships in place with good vendors who do reliable work and offer generous discounts.
Rent Is Not Coming in On Time – or At All
A consistent rent collection process isn’t too much to expect from your property manager. If you find that rent is coming in late or not at all, you need to find out why. Before you hire a management company, ask about their rent collection process. Talk about the consequences of late rent and who keeps the late fees.
Your property manager should offer an online payment system to your tenants, and encourage them to use it. This will cut down dramatically on late rent. If there are late fees collected, find out where they are going.
When you can’t get rent paid consistently, you’re not working with the best in Walnut Creek property management.
Accounting Statements are Inaccurate
In addition to on-time rental payments, you should also expect to receive routine accounting statements that reflect what you’ve earned and spent on your property in a given period, whether it’s a month, quarter, or year.
These should be detailed and easy to read. If they’re confusing, inaccurate, or non-existent, you need better property management. This is your money, and you need to know that it’s being handled properly.
If you’re looking for new and improved Walnut Creek property management, please contact us at Stokley Properties. We’d love to show you how we can do better.