Firing your property management company can be an incredibly difficult decision, especially if they’ve been managing your communities for some time. It can be easy to put the decision off, but when the problems begin to pile up they have to be addressed. Here are three red flags that helped us make the decision to bring property management in-house.

Cash Flow and Vacancy is Dropping

Everyone knows that leasing goes in cycles, but when vacancy is sitting at an all time low for months at a time you may consider what is truly causing the problem. The longer a unit sits vacant, the less cash flow goes back to the investors of the property. If you’ve already met with your property management company to discuss your concerns and given them a reasonable amount of time and resources required to make improvements and there are no results to be found, it might be time to move on.

General Maintenance is Being Neglected

One of the most irritating things a property management company can do is neglect the condition of the property. Renters aren’t exactly excited about an apartment community that can’t keep the units clean and the landscaping well-kept. It requires little effort to make sure the trash in the garbage bins and the grass trimmed. If your managers can’t muster the concern or time to make sure your property looks exactly as it should, they probably don’t belong on your payroll.

Communication is Untimely or Lacking

Perhaps the most disconcerting issue to run into with a third party management company is a lack of thorough, punctual communication. When the reports start coming in late, or not coming in at all, it might be time to find a new management company. If you are unable to answer questions about what is going on at your apartment community, investors can quickly lose confidence. Who you hire, and what kind of work ethic they endorse, is a direct reflection of your own personal decisions. If your managers aren’t responding to emails, won’t pick up the phone, or are simply dragging their feet at any kind of check in, it might be time to bring it in-house.