Is it Time to Change Oahu Property Management Companies?

Posted Friday, November 27, 2020 by Corcoran Pacific

When you choose a professional Oahu property management company to lease, manage, and maintain your investments, you’re placing a lot of trust in them. You need to know they’re going to make decisions that are best for you and your property. When you have the right property management partner, everything runs pretty seamlessly. Your income is consistent and your expenses are kept to a minimum.

With the wrong management company, however, you’re often left wondering what’s going on at your rental property. You’re not sure why your tenants are unhappy and there’s often a lack of communication and support.

At Elite Pacific Properties, we’re dedicated and focused. We have the systems, technology, and experience to effectively and efficiently manage your home, and we have hundreds of happy owners who would tell you we do great work for them. If you’re feeling like it might be time to raise your standards for the management of your Oahu rental property, contact our team.

These are some of the reasons you might want to change management companies.

Your Property Manager Isn’t Communicating

Almost everything involving the leasing or management of your Oahu rental property starts and ends with communication. Your property managers must communicate well, and not only with you. They also need to be available and responsive to tenants and vendors. 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 you can’t reach.

Problems with Oahu Tenants

A plan should be in place for rigorous and detailed tenant screening. If your tenants are routinely late with rent or evictions have happened more than once, your management company is doing a terrible job of screening and placing residents. High turnover rates are also a problem. A good property manager will develop and sustain positive and respectful relationships with your renters. When you have good tenants leaving after just one year, you are faced with additional turnover and vacancy costs.

High tenant turnover may mean that 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.

Accounting Statements Do More Harm than Good

Oahu property managers should provide you with accurate, detailed, and transparent property management accounting. At the very least, you want to receive statements every month that reflect all of the income and expenses associated with your investment.

You should also have access to good technology, including an online portal, where you can see everything that touches your account. If you’re noticing hidden fees or your rent payments never seem to arrive on time, you need to hold your property management team accountable for those issues. If you cannot get satisfactory answers from them, take your business elsewhere.

Do not settle for bad service. If you’d like to talk about our property management services in Oahu, we invite you to contact us at Elite Pacific Properties. We can help your properties perform better.