This is my favorite time of the year. Reflecting on where we exceeded expectations as managers, where we fell short, and where we need to set goals for our business in the upcoming year. I find the whole process exciting because it’s a season of hope. It’s also inevitably a season to take stock in any big changes in direction that need to be made. If you’ve started to question your relationship with your existing property manager, the list below is a great guide for determining if it’s time for that change.

Poor Communication and Responsiveness

If you have effective communication, it’s the cornerstone of any successful property management relationship. Property owners rely on managers for updates on maintenance issues, tenant turnover, rent collections, and more. When communication falters, owners can feel left in the dark, leading to frustration and distrust. And the opportunity to weigh in on important factors that may affect profits could vanish. Don’t let that happen. Make this the year you pick up the phone and take a step toward improved communication.

If your current management company ignores this call, and frequently ignores calls or emails, it may be a sign of deeper systemic issues. Good property management companies prioritize timely, clear, and proactive communication to keep you informed and engaged. At the end of the day, I consider all managers to be in the ‘Peace of Mind’ business. That’s truly what you’re after, and it comes from expertly running your property, and delivering profitability. If that’s not something that has resulted from your manager’s work, it’s the number one signal it’s time for a change. If they respond quickly, and truly want to hear your concerns, let’s give them high marks in an important area.

Lack of Modern Technology and Innovation

Change is the only constant. It’s as true in life as it is in business. Our ability to adopt and implement technology into our business model is a key source of improving customer satisfaction and staying ahead of the competition. Here’s a great example: Over the last year we’ve implemented a new artificial intelligence platform that automates maintenance scheduling. Cutting down the time it takes for tenants and vendors to agree on a time to address the repair is a core hurdle to improving our maintenance response time. Our new AI is doing just that.

If your current property management company hasn’t adopted some of the advanced technology that’s specifically designed for managers, it will result in a slower, less efficient service that falls short of today’s standards. In your call with them, ask them if they’ve adopted anything new this year. AI isn’t just a buzzword. Believe it or not, it can be an effective solution for much these days in caring for properties and tenants. The above is just one example.

3. High Tenant Turnover Rates

What if you had less unit turnover (vacancies) in the New Year? Tenant turnover is costly, and disruptive. Every time a tenant moves out, there’s now cleaning, repairs, advertising, and periods of completely lost revenue. High tenant turnover often signals that tenants are dissatisfied, whether due to poor service, unaddressed maintenance issues, or lack of engagement from management. Good property management companies prioritize tenant retention through responsive service, regular maintenance, and effective communication. Again, if your manager is keeping tenants in place for a reasonably long period, they’re doing right by you.

If, on the other hand, you’re seeing high turnover, you may want to ask why. You and your manager are in a strong position heading into the New Year if you’re receiving consistent communication, if they’re implementing new technology, and if tenant turnover has been infrequent in 2024, you can expect more of the same good results in 2025.

But if the above review has you feeling uneasy, maybe it’s time to make that call we first started discussing not to your current manager, but instead to another management group. Just to hear them out. Your property is certainly your priority. It’s not unreasonable to ask that the group you do business with makes your property their priority. You want to know that each decision made by your manager is in your best interest, always. After all, that’s what delivers the peace of mind you seek and deserve.

By David Crown

David Crown is the Chief Executive Officer of Los Angeles Property Management Group and has over 30 years of experience managing all types of income properties. He can be reached directly at (323) 433-5254.