Home / Owner Center / Switching Property Managers
for owners
You already have a manager and you are thinking about a change. Here is how the hand-off works, step by step, and what it means for your tenant.
A change of manager does not end or change the lease. Your tenant keeps the same home, rent and lease dates.
That is the deadline Colorado's Real Estate Commission rules give the manager you are leaving to transfer tenant deposits. It usually happens much faster, especially with a reputable property manager.
That is our deadline to tell you and each tenant in writing who holds each security deposit. It usually happens much sooner.
It says how much notice you owe your current manager and whether there is a fee to leave. We cannot tell you what another company's contract means, but we can tell you what to look for: the notice period, any termination fee, and what they must hand over.
Chuck Kelley, our Broker/Owner, will look at the home, the rent and the lease in place and tell you what we would do differently, if anything. There is no cost and no obligation. You can read our management agreement first.
You pick a start date that lines up with the end of your notice period, so the home is never without a manager. You give notice to your current manager in the way their agreement requires.
With your written OK, we ask your last manager for the leases, tenant ledgers, inspection reports, keys and security deposits. Getting those files is part of our one-time setup fee. The deadlines above are the outside limits. Most hand-offs are finished well before them.
When a deposit arrives, we check it against the amount in the lease. If they do not match, we tell you and the tenant in writing.
We introduce ourselves, give the tenant a portal to pay rent and a way to request repairs online, and tell them where to send rent from the start date on.
It posts to your Owner Portal after the first month ends. Your first payment is usually smaller than a normal month. Here is why, with a chart.
Sometimes the problem is the manager. Sometimes it is the rent, the condition of the home or the market. These free tools can help you tell the difference.
There is no extra charge for coming from another manager. You pay the one-time setup fee. If your tenant stays, there is no leasing or advertising fee until the home needs a new tenant.
Tell us where the rental is. Chuck Kelley, our Broker/Owner, will look at it and tell you what he sees. No obligation.
