Continuing to work with a bad property management company can leave you feeling stressed and may lead to major problems down the road. This guide can help you identify some significant warning signs that your property management company is one of the bad ones and help you deal with it.

What are Some Property Management Company Red Flags?

Your property management company should effectively and efficiently solve problems and develop strategies that lead to success. Here are some of the signs that a property management company you’re considering may cause problems in the future.

Poor communication

With so many effective ways to communicate, there is no reason your property management company can’t keep you up-to-date or respond to inquiries. Some property management companies ignore maintenance requests from tenants or fail to respond to rental inquiries in a timely manner. Poor communication can drive away high-quality tenants and cost you a lot of time and money.

Lack of experience

A property management company should know about federal, state, and local laws that protect renters’ rights and maintain fair housing practices. Property managers without knowledge and experience may unknowingly violate these laws and risk complaints or lawsuits.

Property management companies must also understand the local rental market and use effective marketing and screening strategies to find reliable tenants. Inexperienced property managers may miss opportunities or make costly mistakes.

High vacancy rates

High vacancy rates are a major red flag to consider when searching for a property management company. A high vacancy rate may indicate that a property manager doesn’t use the right marketing methods to attract tenants, has a high eviction rate, or can’t retain high-quality tenants because of ongoing issues.

How to Deal With a Bad Property Management Company

Here are some of the steps you can take to deal with a bad property management company.

Negotiate

Honesty is the best policy when dealing with a bad property management company. Create a list of reasons you’re unhappy with your current property manager and have an honest discussion with the company to explore possible solutions.

Fire the property management company

If you and your property manager cannot find a good solution to your problems, it may be time to let the company go. You may consider handling the responsibilities of managing the property on your own, or you may want to explore other options.

Hire a new property management company

If you do not want to handle the aspects of managing your property, you will need to hire another property management company. Consider what qualities you need in a property management company and keep your standards high. You can use what you’ve learned from your negative experience to guide your decision.

Find a Property Management Company in Denver

If you own a rental property and want to find a property management company Denver, reach out to the friendly professionals at Acorn+Oak Mile High today. Our expert team has the experience and resources to help you achieve your goals. Contact us today to learn more about our services and how we can be your partners in success.