Property owners, at times, want someone else to manage day-to-day operations of their property. And the ones who do this are called property managers. However, property owners might need to change property management companies in Seattle as others can prove more lucrative in terms of services offered and fees charged. Or, it may so happen that the current Seattle Property Management firm isn’t obliged to the owner, and hence the change. The change of property management firm can prove beneficial, but there are a few things that should be considered before making the change:
1) You need to review your contract that you have with the current Seattle Property Management firm. Take into account the contract clause where the terms stating your termination are indicated. See the start and end dates of your property management contract.
2) You need to look for new Seattle property management companies and ask other property owners for some good referrals. Know about the reputation of a firm before you finally hire it. In your free time, drive by the properties that they currently manage, and even get in touch with their employers for getting unbiased feedback.
3) Hire a management firm that suits your criteria. You need to do this all before you finally communicate this to the current property manager.
4) You should write a proper Contract Termination Notice letter to the current Seattle Property Management company. You should properly detail out the reasons why you wish to terminate your contract. It is important to demonstrate the clauses that justify your reason for terminating the contract. There should be valid points and evidence to support your points. In case the firm has not been favorable, you can end the contract right away, on the basis of terms of your contract.
5) Request your Seattle Property Management firm for the Change of Management forms that can be required for dealing with your new property management firm. Your change of management firm should provide the name of the new management firm and the agent who is going to represent your investment. A lot of companies won’t ask you for this form, but you can still show this form as a courtesy.
6) It is important that you submit this letter personally supported by all the necessary forms to the property manager.
7) Get in touch with all those organizations where your current property management firm has been listed for representing you, such as banks, utility firms, and alike. Ask these firms to change your representative to the new management firm that you are dealing with.
The most important thing you need to do is write down to your residents explaining them about the change of management. Make sure you keep the letter’s content positive, like you can write down that your new manager is quite experienced and that is why you are eager to work with him. You can provide the contact information of new Seattle Property Management firm you have hired, and even specify the date of the beginning of your association. It is also important to provide the address where tenants need to send their rents.
For more information about Ballard Realty a Property Management Firm in Seattle; click here.