HOW DO I SWITCH PROPERTY MANAGEMENT COMPANIES?

How Do I Switch Property Management Companies?

Want to learn more on How Do I Switch Property Management Companies in San Diego, CA? The first step to change your management company is to read your current Property Management Contract; you can always email your contract to Sunset Property Mgmt. & Realty for us to review with you. Learn More

We provide a letter to provide to your existing property manager

Sunset has prepared a letter that you can edit and deliver to your existing Property Manager. The letter outlines how to transfer property to a new manager, your expectations, and a timeline for the transfer stages.

New management agreement is signed

Once your end date with the current PM is determined and a new management agreement is signed with Sunset Property Management & Realty, we will take over by reaching out to the current Property Manager to obtain property files, lease agreements, move-in/move out (MIMO) condition list, photographs, Tenant rent roll(s), Tenant contact information, property financial documents, property keys, accounts payable/vendor lists, recent maintenance work orders and transfer utilities.

Transfer of security deposit

If the current Property Manager holds the Tenant Security deposit liabilities, they may transfer them directly to our trust account. You will need to coordinate the following steps/items with the old Property Management company and pass them on to Sunset Property Management & Realty for a smooth. If the current Property Manager holds the Tenant Security deposit liabilities, they may transfer them directly to our trust account. Coordinate steps/items with old Property Management, then pass to Sunset for a smooth handover.

• ❖  Provide Owner with a final financial report along with remaining rents on hand minus agents fees and funds needed to cover all outstanding expenses the manager has incurred in the course of managing the
  property. We give the old property manager permission to withhold Owner funds, either all or a portion in reserve for 30 days after the above mentioned termination date in order to make sure all expenses are paid. Owner funds such as those already incurred but not yet invoiced. If the old management company chooses not to hold a reserve they can issue a check for any trust account balance immediately and notice both the Owner and Sunset Property Management. Notification can be sent via United States Postal Service certified mail so that Sunset Property Management (“property manager”) may contact the vendors to get copies of outstanding invoices.
• ❖  Provide Owner with the necessary records and documents. This includes a list of Tenant security deposit obligations, copies of leases, applications, credit reports, income verification and other instruments entered into on behalf of the Owner.
• ❖  Transfer security deposits either to the Owner, or the new agent minus the relevant deductions as dictated by the contract.
• ❖  Provide Tenants written notice of the exact dollar amount of the security deposit and inform them that the Owners or the Owners’ new Agent is now responsible for returning their security deposit.
• ❖  Provide Tenant’s written notice that they are no longer managing the property, and provide them contact information for the Owners’ new Agent or designee.
• ❖  Allow a representative from your new agency to retrieve all keys to the property accompanied by a key list if necessary.
• ❖  Lastly, we will require a list of all vendors that service the property and their contact information so that we may coordinate with them and/or choose new ones as we see fit.