Hiring the right property manager is crucial for protecting your rental investment.

But what if you realize you made the wrong choice? Firing a property manager can be tricky, but sometimes it’s necessary. Here’s how to do it properly:

1. 1. Review your management agreement carefully.

Most contracts require a notice period of 30-90 days to terminate. Follow the specified process exactly.

1. 1. Document everything.

Keep a file with dates, times, emails, recordings, etc. of any issues or failures by the property manager. This creates a paper trail.

1. 1. Send official termination notice.

Draft a professional letter stating you are terminating the agreement per the notice period. Cite any contract violations or failures.

1. 1. Prepare for transition.

The PM may try to make it difficult, so have your new PM lined up. Collect all property keys, records, funds, etc.

1. 1. Specify an end date.

Make it clear when their management responsibilities will cease after the notice period. Secure the property yourself if needed.

1. 1. Review final statements carefully.

Scrutinize any final accounting, fees, or deductions from the PM. Dispute inaccurate charges with documentation.

1. 1. Provide tenant communication.

Work with the new PM to notify tenants of the change and new contact information.

Firing a property manager can be stressful, but may be necessary to protect your investment. Luxe Property Management holds ourselves to the highest standards of service and integrity. See why owners trust us at www.luxepropertymanagement.com.au.