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The Right Way to Replace a Manager

You already know: a good property manager is a gift, and a bad one is a cautionary tale. A bad PM can turn a perfectly good rental into a slow-motion financial leak. It starts small—missed calls, vague reports, repairs that cost more than a minor moon landing—and then you wake up one morning wondering if this person works for you, or if you unknowingly signed up to work for them.

Before we talk about how to fire a bad property manager, we should start with the more important question:

How to Know It’s Time to Fire Them

Most investors wait far too long. Hope springs eternal, Shakespeare said, but so does denial. Here are the red flags—if you see two or more, it’s time to pack their bags:

1. Chronic Non-Communication

If you need an archaeological team to uncover updates, it’s a bad sign. No PM should vanish for days at a time.

2. Tenants Are Calling YOU

Nothing says “we’ve lost control” like tenants bypassing the very people paid to manage them.

3. Financial Fog

Late payments, inconsistent statements, vague explanations, or “clerical errors” that always seem to land in their favor.

4. Deferred Maintenance Theater

If every repair takes forever, costs three times what it should, or requires a committee meeting, you’ve got a problem.

5. High Turnover That Isn’t the Market’s Fault

Sometimes tenants leave because the PM is impossible to work with.

Yes, that happens.

If any of this sounds familiar, it may be time to take action. As Marcus Aurelius said, “If it is not right, do not do it. If it is not true, do not say it.” And if it is not working—do not keep it.

How to Fire Them Gracefully

Grace is simply strength expressed with calm. You don’t need drama. You need documentation and clarity.

1. Read the Contract Before You Do Anything

Most PM agreements have a 30- or 60-day termination clause. Know it. Abide by it.

Contracts are not aspirational literature.

2. Give Written Notice

Email + certified mail. Simple, firm, polite.

You are not inviting debate—you’re communicating a decision.

3. Keep Emotion Out of It

You don’t need to list grievances. You don’t need to “score points.”

Just:

“I’m exercising my right to terminate our agreement as of (date). Thank you for your service.”

Gracefully = no drama.

You leave them nothing to push against.

How to Fire Them Legally

1. Demand All Documents Immediately

• Leases

• Ledgers

• Maintenance records

• Photos

• Security deposit accounting

• Tenant contact info

• Vendor invoices

  They are legally required to hand these over.

2. Get Control of the Security Deposits

This is the one area where mistakes can get you sued.

Make sure deposits transfer cleanly and documented.

3. Change Access Codes

Not out of paranoia—out of standard operating procedure.

Doors, locks, garage codes, security systems, portals.

Think of this like changing a password after firing an employee.

How to Make It Permanent

A bad PM has a way of showing up again later—usually in disguise as “we’d love another chance.” No.

You’re done. Thank them politely and close the chapter.

Here’s what “permanent” looks like:

• Document everything

• Transfer accounts cleanly

• Hand off to the new manager immediately

• Notify tenants of the change

• Update all ACH instructions

• Archive the old PM’s credentials

Shut the door fully so you don’t have to close it twice.

Final Word

Firing a property manager is not a failure—it’s maintenance.

Just as you occasionally replace a roof or a water heater, you sometimes have to replace the person managing your asset.

Do it with clarity.

Do it with grace.

Do it legally.

And most importantly: do it early enough that your portfolio doesn’t bleed out waiting for courage.

Because the secret is simple:

A good property manager makes you money.

A bad one teaches you why you should never tolerate a bad one.

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