For some reason, switching property managers is one of those things that you just don’t do. It falls into the same category as changing your bank, your internet provider, or your phone contract: you know you might save a bit of money, but the hassle just doesn’t seem worth it. 

Well guess what? Things are changing. Traditional property managers might take advantage of your fear of the unknown, trapping you into staying with a service that’s just ‘fine’ – but it’s actually far easier to switch property managers than you might think. And there’s a lot for savvy homeowners and Board Members to gain by doing so.

1. You could pay much less

Ultimately, pricing is probably your first priority when deciding whether to switch property managers. And you’re right to be skeptical of the prices charged by traditional property managers. Many property managers are simply finding ways to introduce fees onto their homeowners and Board Members.

This is where the new breed of property managers come in. Our pricing systems are totally different – instead of stacking fees for each service, repair, or item of paperwork, newer property managers may give you a flat fee that covers everything you’ll need as a homeowner and Board Member. (Property Partner 365 do exactly that – and our plans start at just £30/month per unit). It could be worth switching just to know all your costs are covered in one place, and especially if it’s going to be less expensive.

Unlike traditional property managers, newer property managers aren’t set in their ways. We don’t just do things ‘because it’s always been done this way’. Simply put, we’re more likely to be keen, flexible, and eager to impress you – and we’ve got the tools to show the dinosaurs how it’s done. 

Take this quote from Property Partner 365’s founder Greg: 

Up and coming tech solutions can save property managers so much time and cost, we’re able to spend more time on building better relationships with our Board Members and homeowners at large, and reduce the upfront cost for our customers too. So a newer property manager’s service isn’t just likely to be less expensive – it could be better, quicker, and more personalized. 

Maybe your property manager was great at the start, but their service has tailed off now they’ve got your business? Once the honeymoon period is over, it can feel like you’ve been pushed to the bottom of the to-do list. 

Especially compared to more traditional estate agents and property managers, newer property managers can offer quicker and communication on the platforms that suit you best – text, chat, phone, whatsapp, email, online dashboards. Some agents even offer 24/7 availability instead of working strict office hours. 

When you run into maintenance issues or delinquent HOA dues, the last thing you want is your property manager dragging their feet – so switching managers can be worth it just to know you’ll actually get someone useful on the end of the phone, whenever you need them.

Getting itchy feet? We don’t blame you! Luckily, switching property managers can be much easier than you think. Here’s what you need to do:

• Give notice. 
  • Check your contract for how long this needs to be. It can make sense to wait until the end of your agreement, but you don’t have to.
• Pay any exit fees.
  • It depends on your contract, but if the property manager hasn’t delivered on what they agreed at the start, you may be able to negotiate these fees down, or in the case of a serious breach of contract, waive them completely. 
• Keep your homeowners informed.
  • Get your homeowner’s contact details if you don’t have them, and get in touch to reassure them that it’s just the property manager you’re changing,
• Let your new property manager transfer legal and account information.
  • Make sure it’s securely transferred from one property manager to another, as there are very strict requirements for handling your community’s funds and information. This doesn’t need to be a hassle, though: your new property manager should be able to take care of it for you.
• Collect remaining and paperwork from your old manager.

• Set up your new management agreement with the new property manager.

• Benefit from the level of service you should have been getting all along – at a less expensive price 😉

If that list looks like a lot of hassle, that’s okay – because ALL of this can be handled by your new property manager. They can liaise with your old property manager on everything from drawing up new agreements to speaking to your residents, to collecting the keys and sorting out the accounts and legal paperwork.

If the honeymoon phase is over and your property manager is giving you sub-par service, you don’t have to put up with it. Get in touch with us to find out how much time, money and hassle you could save by switching property managers.