passive property management

A common problem id suspect faced by numerous owners with PMs is that a lot them are very passive in managing their property.
My position ( group of 9 TH) is no different- the PM just waits for tenants to complain or request about xyz before doing anything...despite knowing that there are activities that should happen every year/scheduled eg keeping the common areas clean, gutter cleans etc.. the level of apathy and/or incompetence showed by the PM ( repeatedly over a long time) is bugging me...to a point where I question whether they are worth the money in BC fees. If I do go with a new PM, can anyone describe to the process I need to follow?

 

You need to check your agreement with current agency. Normally a month should be the time you need to give before terminating an agreement. Before you do that you need to find a "better" agency though. once you've given notice they will arrange most of the other things for you aka transferring their names onto the bond deposit an contacting the tenant. Good luck

 

To change :

1. Give current pm notice (will say in your agreement how much)
2. Sign agreement with new PM
3. New PM will then :
- collect file (ledger, bond info, lease, inspection info) and keys from other agency
- introduce self in person to current tenant, provide new rent payment details, inquire any outstanding maintenance tasks etc
- arrange bond transfer

Did one of these this evening

 

Hijacking your thread - can you go into more detail on this?

Personally I'll give recommendations on reviewing rent, doing half/full yearly maintaince, updating aged properties, investment returns (and how they might be affected by things happening in area or by doing improvements), but that's because I'm an investor myself. I'm not certain if that's the kind of thing you mean or if you have any input / feedback I'd love to hear it.

 

There are many agencies that run an active business.
Yes I agree lots has to be done to keep properties in a good condition and maximise your yield.

 

Im talking about even the basic stuff... preventive maintennance such as gutter cleans, common shrub/area cleans, arranging for all units to get termite spraying etc...the more advanced stuff of suggesting things to us to improve the desirability/investmebt, updating , whats happening in a gentrifying area etc...that would be great. Thats cwrtainly awol..
Im sure i can speak for others in the complex - we dont mind even paying more in bc fees...as long as the corresponding level of service matches.

 

I agree there are lots of good ones there..identifying them is the tough part when a lot say the same thing and give a similar impression.

 

Did we misinterpret your original question, were you asking about swapping PM or strata manager? The latter requires a bit more work, see - UnitCare | Procedure for Changing Managers (change strata or community title manager) which is SA based but probably similar.

 

Yes nice catch..strata it is..the link helps...