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Converting from Full-Service Management to Placement-Only Services

This article explains how property owners can transition from full-service management to placement-only services at the end of their current agreement, and steps to ensure a smooth handoff.

If you’re currently enrolled in full-service property management and are considering switching to placement-only services at the end of your management agreement, here’s what you need to know.

Timing Your Conversion

You can request the switch from full-service management to placement-only services at the end of your current agreement term! It is important to notify your property manager in writing at least 60 days before your agreement expires to ensure a smooth transition.

What Placement-Only Services Include

Placement-only services typically cover the leasing process and securing a new tenant for your home:

  • Marketing your property to prospective tenants

  • Screening applicants and processing applications

  • Lease preparation and execution

Full ongoing management responsibilities, such as rent collection, maintenance coordination, and regular property inspections, are not included under placement-only services.  You would be managing the property yourself after the tenant takes possession of the home!

Transition of Responsibilities

Once your agreement switches to placement-only and a new tenant takes occupancy:

  • You will assume responsibility for day-to-day management tasks

  • All funds, keys, and account access will be transferred to you or your designated representative

  • Any active maintenance or resident issues would be your responsibility to address, as you will be managing the home directly after the tenant moves in!

Fees and Payments

Placement-only services are charged as a one-time fee, and is typically a percentage of one month's rent.  You will need to sign a new contract to transition to placement only!

Next Steps

To initiate the transition:

  1. Review your current agreement for any notice requirements

  2. Contact your property manager to discuss your intended change

  3. Sign an updated contract for placement only services

Questions?

If you have questions about the conversion process, fees, or responsibilities, please contact us. We are here to make the transition as seamless as possible!