BEFORE YOU SWITCH
Read the agreement before sending the termination notice.
The transition is easier when the owner knows the notice requirements, fees, transfer obligations, and open property issues in advance.
Termination clause
Required notice period, method of notice, effective date, termination fees, early-termination provisions, and clauses that survive termination.
Protection clauses
Whether leasing or placement fees remain due if a tenant placed by the outgoing manager renews, extends, purchases, or remains after the management relationship ends.
Owner funds & deposits
Who holds tenant deposits, owner reserves, prepaid rent, vendor funds, and other balances—and how and when those amounts must be transferred or reconciled.
Lease file
Lease and addenda, applications where appropriate, ledger, notices, payment history, concessions, renewal terms, pets or assistance animals, and current tenant contact information.
Maintenance & condition
Open work orders, approved estimates, warranties, vendor contacts, recurring maintenance, unresolved damage, inspections, and scheduled work.
Utilities & service accounts
Identify which utilities are owner-paid, tenant-paid, association-provided, or currently handled through the property manager. Confirm billing responsibility, autopay, deposits or credits, final bills, transfer requirements, and whether service needs to remain active during a transition or vacancy.
HOA / condo requirements
Rental approval, lease submissions, access, gate credentials, deposits, notices, violations, renewal requirements, and contact information.
Keys & credentials
Keys, remotes, fobs, lockbox codes, smart-home access, alarm information, vendor access, and property-specific instructions.
Records & deadlines
Statements, invoices, ledgers, tax documents, upcoming rent dates, renewal dates, inspections, notices, and pending owner or tenant obligations.
Practical point
Do not assume the outgoing manager’s file is complete.
Before the handoff is treated as finished, compare what was received with what the property actually requires. Missing lease documents, deposit records, association approvals, keys, vendor history, or open maintenance details can surface later as operational problems.
See How the Transition Works →