Signs You Need to Hire a New Melbourne, FL Property Management Company

Hiring a new property manager can be a good thing, however, especially if you’re not getting the service or the value you need. You’re entitled to high quality Melbourne property management, and if you’re not getting what you expect and need, it might be time to look around for another property manager. You don’t have to settle for mediocre property management in Florida. 

RE/MAX Elite has been providing world-class property management service to Eastern Florida since 2006. We serve all of Brevard County, including Melbourne, SunTree, Viera, Palm Bay, Merritt Island, Cocoa Beach, Rockledge, Satellite Beach, Indialantic, Titusville and Mims.

Here are some of the signs that might indicate you should be looking elsewhere. 

When it comes to managing vacancies and tenants and maintenance, nearly everything starts with communication. You need a property management company that is responsive and accessible. If your manager isn’t available to you, that probably indicates he or she is not available to your tenants either. Residents need to reach your property manager if there’s an emergency or a problem, and you need to reach your property manager when you have questions or concerns. 

A lack of communication is not okay. If your phone calls aren’t getting answered and messages aren’t being returned, you need to find a management company that takes communication seriously. It’s hard to trust people who won’t talk to you.

Tenant screening should be rigorous, consistent, and thorough. If you’re finding that tenants are routinely late with rent, needing to be evicted, or violating the terms of the lease, your property managers are not doing a great job with tenant screening. They’re also not doing much to develop and sustain positive and respectful relationships with your renters.

Late rent payments are a problem, especially if it’s happening all the time. Dangerous Pit Bulls in a no-pet home are also a problem. Your property manager should be expected to collect rent on time and enforce your lease agreement.

When you have good tenants in place but they are always leaving after just one year, you are faced with additional turnover and vacancy costs. That could mean your property manager isn’t responsive or focused on tenant retention. Don’t be afraid to switch management companies if you seem to be losing tenants or losing money in security deposit disputes and other claims and lawsuits. 

Rental property accounting should be part of the services your management company provides. They should be tracking the income and expenses associated with your property and if you’re not receiving monthly accounting statements, you should ask why. These days, nearly every reputable property management company in Melbourne, Florida is providing an online portal for owners so they can log on and see invoices that have been paid, rent that has been collected, and when the last deposit was made.  

Any property manager with some experience and training can place a tenant and collect rent. 

However, it takes a local and industry expert to help you navigate the laws, requirements, and market conditions that go into managing an investment home. If you’re interested in growing your investment portfolio, you’ll need to rely on your Melbourne property manager to identify new opportunities. You’ll want access to market data and forecasts and trends. You should expect advice and input on everything from pricing your property to renewing lease agreements to adjusting your investment goals.  

If you’re not getting a lot of expertise and resources, you should find a property manager who is passionate about the industry and willing to help your investments perform better. 

If you have any questions or you’d like to talk about the process of switching Melbourne, Florida property management companies, please contact us at RE/MAX Elite. We can provide a smooth transition.