Switching Phoenix property management companies can seem like an overwhelming task. Additionally, home owners may be concerned that things like security deposits could get lost in the shuffle. Real property management phoenix valley has created the following check list to assist with a successful change. The first part of the check list is for before you terminate your current property management contract. The first thing is to read the terms and termination clause in your current agreement. This section will let you know how much notice you need to give your current property management company. Additionally it will let you know if there are any fees association with cancellation. We recommend starting the cancellation process when you are within 45 days from your current contract ending. Prior to submitting your cancellation notice make sure you have all executed lease agreements, renewals and addendum. Next check your records for paid invoices. Make sure you have copies for new ACs, water heaters and appliances. Lastly make sure you have your TPT license number and online logins if applicable. (TPT stands for Transaction Privileged Tax License). Be sure to terminate your agreement in writing.
The second part of switching Phoenix property management companies are items needed after notice has been given. These items include all tenant contact information and keys to your property. Also, ask how they will handle the transferring of the tenant's security deposit. Will they send you a check or the new property management company? Request a copy of the tenant signed move in inspection. Lastly ask for a copy of the tenant's ledger. The tenant ledger will show how much of a deposit the tenant actually paid and whether they have any prepayments of rent on file. Any prepayments should be sent back to the tenant.
https://youtu.be/yFUQBohJhK4
By Lisa Borchard Monday, December 16, 2019
Switching Phoenix property management companies can seem like an overwhelming task. Additionally, home owners may be concerned that things like security deposits could get lost in the shuffle. Real property management phoenix valley has created the following check list to assist with a successful change. The first part of the check list is for before you terminate your current property management contract. The first thing is to read the terms and termination clause in your current agreement. This section will let you know how much notice you need to give your current property management company. Additionally it will let you know if there are any fees association with cancellation. We recommend starting the cancellation process when you are within 45 days from your current contract ending. Prior to submitting your cancellation notice make sure you have all executed lease agreements, renewals and addendum. Next check your records for paid invoices. Make sure you have copies for new ACs, water heaters and appliances. Lastly make sure you have your TPT license number and online logins if applicable. (TPT stands for Transaction Privileged Tax License). Be sure to terminate your agreement in writing.
The second part of switching Phoenix property management companies are items needed after notice has been given. These items include all tenant contact information and keys to your property. Also, ask how they will handle the transferring of the tenant's security deposit. Will they send you a check or the new property management company? Request a copy of the tenant signed move in inspection. Lastly ask for a copy of the tenant's ledger. The tenant ledger will show how much of a deposit the tenant actually paid and whether they have any prepayments of rent on file. Any prepayments should be sent back to the tenant.
https://youtu.be/yFUQBohJhK4
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