There are many reasons property investors choose to change property managers. Below are the most common factors driving landlords to switch to Award Group Real Estate.

Poor or lack of Communication

If you constantly find yourself searching for the person responsible for your property, you’re not alone. Many property managers are overloaded with unrealistic portfolios, leading to burnout, missed tasks and long delays. When they eventually leave the agency, it can take months to replace them — and even longer for a new manager to understand your property.

Getting passed around the office

If you constantly struggle to reach the person responsible for your property, you are not alone. Many property managers are overloaded with portfolios beyond what they can reasonably manage.

This often leads to burnout, resulting in tasks piling up, being forgotten, or left unresolved. When that property manager eventually leaves, it can take months for agencies to recruit and train a replacement — and even longer before they fully understand your property.

Extended Vacancy periods

Every day your property sits vacant, your annual return decreases. A proactive leasing strategy should begin the moment your tenant gives notice.

Many agencies run only one short inspection per week — often with an agent who knows less about the property than the people attending — resulting in fewer applications and longer vacancy periods.

Poor Repair & Maintenance Management

Following up a repair request shouldn’t result in silence. Many agencies now outsource maintenance requests to offshore teams or third-party processors who have never inspected your property.

This often leads to work being approved without proper oversight — or worse, unnecessary or incomplete repairs being charged to your account.

Poor Quality Documented Inspections

Detailed inspections are crucial for identifying maintenance issues and ensuring your property is being properly cared for. If your property manager isn’t conducting thorough in-going, outgoing, and routine inspections, minor issues can easily escalate into major, costly problems.

Lack of Industry Knowledge

Property management requires experience, sound judgement, and a strong understanding of legislation. If your property is being handled by an inexperienced or poorly trained manager, you may be exposed to unnecessary financial and legal risk.

Below Market Returns

There are several reasons a property may achieve below-market returns. The most common include:

• Missed rent reviews or inaccurate advice due to poor market knowledge.
• Outdated or misleading marketing materials that turn away quality tenants.
• Poor tenant selection and inadequate screening processes.

How to Change Property Managers in NSW

1. Review your current management agreement. You will need to confirm the required notice period you must give your current managing agent.

2.Select new Agency to take over the Management. Interview and select your new managing agency. Complete a Management Authority to lock in their services.

3. Decide whether to terminate immediately or serve the notice period. Immediate termination still requires payment of the notice-period fees.

4. Provide written termination. Either you or your new managing agent can provide notice to your current managing agent. Ensure this is done in writing and be sure to quote the day that the file will be collected.

5.File Collection. Your new property manager will contact your tenants to inform them of the change and will provide information to the tenants on where rent is to be paid to from now on. The bond will be transferred to the new agencies bonds online account, copies of notices, leases, inspection reports to be handed over along with all keys to the new managing agent.

6. Tax Information. If you are not sent an EOFY statement with your final payment statement, ensure to follow up at the end of June/ early July as your accountant will need a copy of this to lodge your tax return. Not all agents will provide this straight away and others may forgot.

Questions to ask when interviewing a new property manager

• Who will be directly responsible for managing my property?
• How do you handle after-hours or emergency repairs?
• Does your agency outsource or offshore any property management tasks?
• How are repairs and maintenance handled and approved?
• How many open homes per week will you conduct during vacancy, and who will run them?
• What is your tenancy screening and selection process?
• What are your average days on market for rental properties?
• Can you provide examples of recent routine and ingoing inspection reports?
• How do you manage bond claims and disputes?
• How long have you been working with this agency?
• Lastly, not a question but make sure to review the companies online Google Reviews as this is a good indication of the level of serve provided to landlords and tenants alike.

Frequently Asked Questions

Question: How much notice do I need to give my current property manager?

Answer: This will depend on the terms of your existing management agreement, common periods are 30,60 or 90 days.

Questions: Do I have to wait the full notice period or can I have my new agent take over the file straight away?

Answer: You will be obligated to pay the management fees for the agreed period either way so most agencies will be happy to hand the file over.

Question: Is there a notice period while the property is vacant:

Answer: No, the period only applies during the period the property is tenanted.

Question: Should I wait til the end of the tenancy before I change Property Managers?

Answer: There is many factors in this situation so there is never a simple yes or no answer. The urgency to make the switch may be the deciding factor.

Question: If I purchase a property that is currently tenanted, when the property settles, do I need to stay with the same managing agent?

Answer: No, in purchasing the property, you have bought the property subject to the existing tenancy, there is no condition on who must stay managing this property unless the property is managed through a defense portfolio such as DHA, these conditions would have been listed in the purchase contract. You will need to sign a management agreement with either the current managing agent or a new managing agent before the property settles.

Question: Is there fees and charges to change property managers?

Answer: In most circumstances the answer will be no however you may have a file hand over clause in your current management agreement, if so, you will be required to pay this fee.

Ready to make a move?

If you’re considering switching property managers, call us on 9808 1199 or complete the appraisal request form below.

Our Head of Property Management and Licensee, Leighton Avery, will contact you promptly to arrange a free and confidential phone or in-person consultation.