My Property Manager Has Left: What Happens Now?

One of the more unsettling moments for a landlord can be discovering that their trusted property manager has left the company. Whether it's due to a career change, internal company shifts, or personal reasons, the departure of your property manager can create uncertainty. Here’s what you need to know and do when your property manager leaves:

1. Immediate Communication

The first step is to communicate with the property management company. You should be informed promptly by the agency of any changes in your management team. If you haven't been notified, reach out immediately to understand who will be taking over your account.

2. Meet Your New Property Manager

Arrange a meeting or phone call with your new property manager as soon as possible. This introduction is crucial for establishing a good working relationship and ensuring a smooth transition. Discuss the specifics of your property, any ongoing issues, and your expectations.

3. Review the Handover Process

Ask the property management company about their handover process. A well-structured handover should include:

- A comprehensive briefing about your property.

- A summary of recent inspections, maintenance, and tenant communications.

- Transfer of all documentation and keys.

4. Temporary Management Scenarios

Be aware that you may not have a new permanent property manager assigned immediately. In some parts of Australia, this process can take a few weeks or even months due to the competitive property management employment market. During this interim period, you might be dealing with:

a) A Temporary Property Manager: Typically an experienced person from outside the company hired on a contract basis. They may have minimal knowledge of the company's procedures and a lower care factor due to the temporary nature of their role.

b) Another Staff Member from the Agency: This person may be managing two portfolios at once, as their original duties have likely not been removed. Be mindful of their increased workload and potential for delays.

5. Revisit the Management Agreement

Take this opportunity to revisit your property management agreement. Ensure that the new manager is familiar with all the terms and conditions, and confirm that there won’t be any service disruptions. It's also a good time to clarify any concerns or ambiguities in the agreement.

6. Maintain Open Lines of Communication

Effective communication is key to a successful property management relationship. Clearly outline your preferred methods of communication, response times, and regular updates. Ensure that your new property manager understands your expectations regarding reporting and updates.

7. Verify Compliance with Legal Obligations

Ensure your new property manager is well-versed with the Residential Tenancies Act and any other relevant regulations. Confirm that they are up to date with compliance requirements, such as safety inspections and minimum standards compliance.

8. Monitor Performance

Keep an eye on how the new property manager is handling your property. Regularly review their performance against key metrics, such as the timeliness of maintenance, quality of tenant interactions, and accuracy of financial reporting.

9. Escalate if Necessary

If you encounter any issues or notice a decline in service quality, escalate your concerns to a department manager or the business owner. Don't hesitate to refer persistent issues to your local regulator, such as Consumer Affairs or Fair Trading, if needed.

10. Stay Engaged and Keep Records

Stay engaged in the management of your property. Regularly review reports, attend inspections when possible, and maintain an active interest in how your property is being managed. Given that the typical property manager is only in their role for a couple of years, expect changes and keep your own records for continuity.

Balancing Tenant Care

While it’s crucial to ensure your property is managed effectively, remember that changes in management can be challenging for your tenants too. A bit of patience and understanding can go a long way in maintaining a positive relationship. Respect your tenant’s home, especially when scheduling inspections, and consider their perspective during these transitions.

The departure of your property manager doesn’t have to be a cause for concern. By taking proactive steps and maintaining clear communication, you can ensure a seamless transition and continued effective management of your property. Stay involved, set clear expectations, and regularly review performance to maximise the success of your investment.

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