So, you have been receiving a steady flow of income from your rental property, but of late things seem to be going downhill. Expenses exceed the norm, rents are late and your net operating income is under budget. Even though you are investing a lot in your marketing campaign, it is taking longer for you find or even keep good tenants. If you constantly find yourself in this situation, then it is high time that you re-examined your property manager. In this article, we will help you in dealing with a bad property management company before things get out of hand.
Look For a Different Property Manager
It is obvious that one of the first things you can do is look for a different property management company. After all, there is no way you can continue working with someone that is not helping you with anything. To avoid finding yourself in the same situation, you should carry out a detailed research on all the property managers at your disposal.
This will mean examining important things such as experience, licensing and services offered. For those who are still finding it hard, then you can consider seeking the services of Eenhoorn, a privately owned property management company that was founded by Paul Heule. Under the management of Heule, Eenhoorn has been able to reach greater heights in the industry.
File a Complaint against Your Property Manager
When worse comes to worst, you may have to file a lawsuit or complaint against your bad property manager. Keep in mind each state or country regulates property managers in dissimilar ways. In most cases, you will have to register your complaint with the local real estate association where the property management company is licensed. Once you do this, the Better Business Bureau is going to contact the property management agency for a review.
The Bottom Line
These are just but some of the ways you can deal with a bad property management company. Remember, prevention is better than cure and hence you should examine the property management company before making the final decision. It would also help you big time if you learnt from famous property managers like Paul Heule. For those who might know, Paulus Heule is the CEO of Eenhoorn LLC, a leading property management company you can rely upon at all times.