Guide

How to transition a property to a new management company

Management transitions fail on the boring items: deposit balances, vendor contacts, and who residents pay on the first.

Overview

Management transitions fail on the boring items: deposit balances, vendor contacts, and who residents pay on the first.

Checklist

  • Collect the rent roll, active leases, and deposit ledger from the outgoing manager.
  • Reconcile deposit balances against the trust account before takeover day.
  • Import leases and ledger history so balances carry forward.
  • Notify residents in writing where and how to pay next month.
  • Re-key or re-issue access and rebuild the vendor list with current insurance.
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