Switching Property Managers
Changing Property Managers Starts With a Clear Handoff Plan
A change in management needs a plan. Start with your current agreement, property records, and priorities. We'll explain the proposed handoff before you decide what comes next.
When switching makes sense
- Calls and emails go unanswered, or you hear about problems last
- Statements arrive late or don't reconcile with your bank deposits
- Maintenance drags on or costs more than you expected
- Vacancies run long, or rent trails similar homes nearby
- You're still doing work you're paying someone else to do
Start with your current agreement
Before you give notice, find these terms in your management agreement:
- The term and renewal date
- The notice period, and how notice must be delivered
- Any termination or cancellation fees
- What happens to leasing fees for tenants your manager placed
- Who holds tenant security deposits and your reserve funds
If anything in your agreement is unclear, a real estate attorney can explain your obligations. This page is general information, not legal advice.
What transfers in a handoff
Records, funds, and tenant communication all move with the property. Use this checklist to see what you have and what to ask for.
- Leases, addenda, and renewal dates
- Tenant contact information and move-in inspection reports
- Security deposit records and the deposits themselves
- Rent ledgers, balances, and any delinquencies
- Keys, access codes, and remotes
- Warranties, vendor contacts, and open work orders
- Utility, HOA, insurance, and property tax details
- Owner statements and year-to-date income and expenses
What affects the timeline
- The notice period in your current agreement
- How quickly your current manager releases records and funds
- Lease dates and whether the home is occupied
- Any maintenance already in progress
Common switching questions
Can a rental change managers while it's occupied?
In general, yes. The lease is between you and your tenant, so it stays in effect when management changes. What changes is who tenants contact and where they pay rent.
Who contacts my current manager?
You give notice the way your agreement requires. After that, records and funds are transferred between your current manager and your new one.
What happens to tenant security deposits?
Deposits your current manager holds need to be transferred and documented along with each tenant's lease. Pennsylvania has specific rules for holding security deposits, so ask any new manager how they'll hold them going forward.
Talk through your handoff
Request a Rental Performance Review. If you'd like a fee comparison, we'll ask for your current management agreement after we talk.