Why I sacked my property manager

SIX weeks ago, I wrote about sacking my investment property manager.

I had not had any trouble from them until two years into our arrangement, when the long-term tenants vacated and everything went pear-shaped.

Those property managers failed to inform me about the many issues with the apartment during the open inspection period, even though they were showing prospective tenants through an unlettable place.

There was furniture still in place from the previous tenants (who had simply moved back to Japan and left everything behind); there was chipped paint on the walls and stains on the carpet; there were missing door handles and a number of other things needed replacing.

These issues were all casually mentioned bit by bit by my property managers and eventually I had enough. They had to go. I sacked them by email, which they didn’t object to, and hired the management arm of the helpful real estate agency who listed the property when I bought it.

Since then, things have run smoothly. On their recommendations, I have had the carpet replaced, old furniture removed, walls repainted and a number of other minor fixes sorted also.

And, after a few false starts, I am happy to report we now have new tenants; a nice young couple with a bird. We didn’t have to take $20 off our asking rent as suggested by our previous property managers.

The young tenants did not have previous references, as they had not lived out of home before, but they actually wrote the most thoughtful and polite letter telling me all about themselves. I thought it showed great initiative.

I owe a lot to our new property managers, who have been transparent, dedicated and acted swiftly to get our asset into shape and ready to be back earning income. But then again, that is their business. That is what they exist to do.

So remember, if your property managers are underperforming or simply don’t seem to care for your asset, relief may be one email and one phone call away.