With the highest staff turnover rate in the industry, there is a possibility you will be faced with having your property managed by someone you don’t know or didn’t choose. This can bring an immediate panic to how things will progress going forward, though should you start looking immediately, follow the property manager if they went to another business or just stay put and see what happens?
Loyalty is something a good agent can build through hard work and service, and following them around as they make different career choices can seem like the right thing to do for both you and them. I’ve always had very loyal clients and I’m happy they’ve always come back to me to assist in all their real estate decisions. Though, from another perspective, it’s also an opportunity to see how good this agent really is. Plenty of things unfold when a property manager leaves the business, that will help you determine whether it’s worth changing.
Things can unravel once someone leaves, different practices that may not be the best for you and your property or bad business procedures that contained a property manager to do the best thing by you. What is good though, is for a small amount of money for a couple of months, you’re able to see what happens and make a decision then.
This is your best course. Two things will happen, the agent and agency drop the ball completely and you realise that it was all your property manager that you had chosen, so it’s worth tracking them down or finding a new one. The other side is that your property manager was great on the surface, but as problems arise left, right and centre, you may find that beneath the surface they may not be as competent as you thought.
Either way, who looks after your investment and future is important. So, instead of making any drastic decisions, you should give it some time to get the real story. It will take a little extra effort and attention to make sure you see everything that is happening. Though for the sake of a couple of managements fees, you can get a much better picture of where you will be going forward.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.