Property Management Blog

Need to Change Management Companies?

Need to Change Management Companies?

We make the transition simple and smooth.

Changing management companies might be awkward or even a bit hostile.  We will make the transition simple by working with your former manager or management company to gather proper documentation and releases.  We will also notify the existing tenants and minimize any concern they have.

The goal is a smooth and hassle-free transition that secures your real estate investment and maintains a positive relationship with the current renters.

Steps to Management Transition

  1. Sign Management Agreement– Our property management contract is straightforward and clear.  All responsibilities and fees are clearly stated and transparent.
  2. Coordinate with Previous Management Company – After you give written notice, we will contact the previous management company to get copies of the documents and contracts needed to manage the property. These documents include the current lease, ongoing vendor contracts, home warranty, etc.
  3. Contact Residents – ELLIS HomeSource will contact the current residents by mail and telephone to create a smooth transition and prevent any misunderstanding or alarm.  A smooth transition will insure no interruption of rent payment.
  4. Property Visit and Inspection – An ELLIS property management professional will visit your property, meet the current residents, and do a walk through inspection.  Any concerns will be communicated to you immediately.
  5. Market Evaluation – A comparable study will be done to assure that your investment property is properly priced and you are receiving full rental value.
  6. Accounting Transition - Your personal management account will be created through our advanced property management software that allows us to track all income and expenses.  We will also insure that existing security deposits are transferred from the previous property manager.
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