Registered: 1361311855 Posts: 1
Reply with quote #1
What is the protocol to take over management of my properties? They are currently being managed by a Management Company and I would like to manage them myself.
Registered: 1358423015 Posts: 22
Reply with quote #2
I could not tell the exact protocol but i can give you some tips for property management.
While dealing in property management then keep the records including mails, text messages and other kind of conversation between you and landlord,tenants and tradesmen. It is essential and work as a legal evidence. Time management is one of the necessary part of this field. Be up to date is the most effective factor. You should have all possible updates and you can take the help of real estate magazines. __________________ Construction Management Software | Last Planner System
Registered: 1336000141 Posts: 68
Reply with quote #3
Take a look at your contract with the management company to see what is required to give them notice. Be prepared to take over the duties you had them performing for you by performing yourself or by having contractors lined up. Send the tenants a notice about changes to rent payment address/method, emergency repair contact info and regular repair request procedure. If the management company is holding the tenant security deposits, be sure they transfer those to you.
Registered: 1355402514 Posts: 8
Reply with quote #4
We also have several rental properties and have rented on our own and also used a property management company. It really comes down to personal preference and if you have the time to invest yourself. But I think if a property management company controlling all these then you should leave it on them. For managing a rental property lot of experience and practice is needed. For that you will have to make a proper research on property management. If without having any proper knowledge you will takeover the control now then you might face a lot of problem in future. __________________ GHG AM