Is It Time to Hire a New Property Management Company?
Out with the old, in with the new seems to be a popular new year sentiment. As the year comes to an end, naturally people began to reassess their lives personally and professionally. At this time, HOA’s are likely considering whether or not they should hire a new property management company in Tampa to manage their community.
If you have not had the best experience with your existing company, you’ll want to weigh your options carefully to ensure your community will not run into the same problems. Before making a decision, we’ll discuss why owners change companies, things you should think about as you make your decision, and how to make the switch easy.
REASONS OWNER CHANGE COMPANIES
There are various reasons why HOA boards may consider switching their property management company in Tampa. The number one reason we hear about is a lack of communication. This includes being hard to reach and failing to return phone calls and emails. Another reason is a failure to complete projects that have been requested by the board. If the community rents to tenants, this can be another area of discontent. There are some boards that do not manage tenants well and this leads to too many tenants or a high-turnover rate.
THINGS TO THINKING ABOUT
Before you choose a new Tampa property management company, you should think about the following:
• Will they decrease your expenses? • Do they have good vendor relationships? • Is the community manager likable and will they measure up? • Do they have good reviews? • Are they adept at association finances? • How will they handle maintenance issues?
A reputable property management company should be an asset, not a liability. Furthermore, they will provide knowledge and be able to guide HOA boards in decision making.
MAKE THE SWITCH EASY
It’s always good business practice to alert the company to your dissatisfaction to give them the opportunity to improve. Afterward, if you see no improvement you can proceed with your plans to switch companies. First, you should review your contract with your current company to see when it expires. Next, search for companies in your local area online to look up their reviews. You reach out to neighboring communities to see who manages their property. Also, take a drive to observe the upkeep of communities. Once you’ve decided you’re ready to make the switch put it all in writing and send it to your current company. Change is stressful but necessary at times. In the end, you’ll be happy that you have found a Tampa property management company that exceeds your expectations.
Request a proposal today, or call us at (813) 968-5665 to learn more.