UPDATE: Firing my property management company
September 18th, 2006 by KenricAfter making my post here earlier today I fired off an email to my PM which basically had the tone of “I just haven’t sat down to find out how much notice I’m suppose to give to fire you, can you please tell me what the contract says.”
And guess what, less than one hour later I got a call from my PM. I didn’t answer the phone cause I was in a meeting but I was able to listen to a nice long apology message afterwards. After the apology, she ran down the information that I had been trying to get for the past month.
I found out that both of my tenants want to renew. In fact, she had signed the Section 8 father of 4 to a 1 year extension already. I was a little miffed because that was the unit I would sell first because my option ARM on it keeps going up. Anyway, she said that the unit was in real good shape except the carpet was a little dirty, which is understandable. The good news is that I can get out of the 1 year lease with 60 days notice.
My other tenant wanted to go month to month. I really don’t want them to so I’m going to suggest a 6 month lease instead. If they don’t want to do that then I’ll increase the rent on them for the privilege of month to month.
I’m not sure what I’m going to do with my PM company. If both my tenants renew I may leave the set up as is. Other than the communication, I’m getting a check every month and no tenants are bugging me.
I was able to negotiate a real cheap rate for management on my units because I brought in 4 properties for them to manage at the same time. If I move to another PM, my costs will surely go up.
Posted in Real Estate | 
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