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just venting-taxes, new property manager (need thoughts)

March 13th, 2014 at 08:29 am

Hi all,

In serious need of a vent... feeling very stressed

My taxes are still NOT done and I do not know how much I will get back (it will be between 7-14k I believe..) Accountant is still working on it (or not. he is swamped w corporate taxes this week). My accountant is now saying next week. Crazy upsetting. I know he is swamped but I feel jerked around.

Good news.. my 3 unit property manager IS interested in all of the 6 homes. I had a great talk w her Saturday last week. I am nervous about how to talk to the existing property manager or how to engineer the change

Contract w current prop manager is dated 5/1/13 for a termn of 1 year and says I need to give 60 days notice to cancel, basically account for all disbursements, rents etc up to the time he has the properties. so figure I give notice this week?? but what do I say/I do not want issues and what if the 3 unit lady does not work out? I just let him go from the 2 flat but it is being sold 4/17.. and he had no issue. would not have wanted him on that long term either.

Any thoughts guys?

Anyway I am feeling the switch will be great/awesome. I have so much more confidence in her but nervous w so much at stake and things are tighter right now as I build my emergecy fund (and still do not have taxes, money owed to me etc, just took over hard money loan, asking for renewal at work next week)

Jsut feeling stressed (in general) and it is coloring my view of everything and an extra 10-15k in the rental fund would help that.

Anyway. I am so frustrated w the taxes thing and still trying to SMOOOTH out my life by being prepared for emergencies and having a plan..

2 Responses to “just venting-taxes, new property manager (need thoughts)”

  1. Kiki Says:

    It is a business decision.

    Worst that happens if she does not work out is that you have to take more responsibility until you find someone else.

    If he asks how he can keep the contract and your willing to work with him: write a new contract for 3 months and have very clear expectations for response, collections, communication with you, weekly reports of work completed or needing to be done (with photos before and after for possible taxes and all receipts), etc. Extension to the contract can happen if he proves himself and honors the contract.

    But since it is a business decision and affect your future: bite the bullet and be done or make a new plan with him.

    I managed property for a year in college and my grandparents had apartments while I grew up.

    It is a business, not personal, decision.

  2. Rachael777 Says:

    Stupendous thoughts! "it is a business not personal' so true. I get all wound up about stuff.. I am posting that on my board above my desk for this time and other times when I get 'frozen' w indecision about what people will think/do. THANKS! I will act this week. I will feel SO AWESOME to have these 6 homes feeling 'under control'like the 3 units do.... Like life changing. Smile

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