Why do apartment complexes change management companies?

Sometimes it happens because the manager is being transferred to another complex because that manager specializes in “ turning around” troubled complexes. Apartment managers fall into skill categories: the ones that are super good at selling, and the ones that are great at running complexes at capacity.

What happens if my apartment complex changes management?

Management entails making sure the property is kept up and the tenants pay their rent on time. Management companies often are hired by complexes. When a property owner changes management companies, it does not allow a tenant to break his lease, except in special cases.

What happens to a management company when an apartment is sold?

If the unit is subsequently sold or transferred to another person, the membership of the owners’ management company automatically transfers to the new owner. It is not necessary to formally execute the transfer or have it approved by the directors of the company.

Can a management company change in the middle of a lease?

We do not provide new leases as state law is very clear that the management company or owner listed on the lease can be changed by proper notice and does not change or modify the terms and conditions of the lease. A slip of paper at the door may not satisfy your state mandatory requirement for proper notice.

What happens if there is a change of management company?

Just a few thoughts. Like Lacerta, if there is a change of management companies or ownership, the tenant will receive a written notice sent via mail from the old company that indicates their services are being termionated and a new company is taking over. This is followed up by letter from the new company mailed to the tenant.

Management entails making sure the property is kept up and the tenants pay their rent on time. Management companies often are hired by complexes. When a property owner changes management companies, it does not allow a tenant to break his lease, except in special cases.

Who is the CEO of an apartment management company?

After ranking as the 7th largest apartment management company, they made the biggest move in the top 10 by moving up 3 spots. Bruce Ward serves as the current Chairman of the Board and CEO.

Who is the second largest apartment management company?

The second largest apartment management company, Lincoln Property Company is headquatered in Dallas, Texas where they are led by current CEO Tim Byrne. In business since 1965, they are unique in that they also manage commercial and mixed use properties.

We do not provide new leases as state law is very clear that the management company or owner listed on the lease can be changed by proper notice and does not change or modify the terms and conditions of the lease. A slip of paper at the door may not satisfy your state mandatory requirement for proper notice.