"Property management" company for rental home changed 2 times in 3 years... bad sign or normal?

[sos-the-rope 302]

So the "Property management" company for our rental home has changed 2 times in 3 years... is this a bad sign or normal for Frankfurt?

 

There's no special difference in the quality of services I can see, nor is the rent going up more than usual (they said that outright in the notice).

[El Jeffo 29,004]

Who owns your home? Is the management changing because the owner has changed?

 

If the owner has stayed the same, it's likely that the owner wasn't satisfied with the previous manager and switched to a new one, then realized that the new one sucked, too.

[sos-the-rope 302]

10 minutes ago, El Jeffo said:

Who owns your home? Is the management changing because the owner has changed?

 

If the owner has stayed the same, it's likely that the owner wasn't satisfied with the previous manager and switched to a new one, then realized that the new one sucked, too.

 

No idea if the owner has changed - the whole block of apartments is administered by the same investment firm and now the firm that owns *that* firm has changed...! I guess this is typical Frankfurt stuff.

[sos-the-rope 302]

8 minutes ago, sos-the-rope said:

 

No idea if the owner has changed - the whole block of apartments is administered by the same investment firm and now the firm that owns *that* firm has changed...! I guess this is typical Frankfurt stuff.

 

or probably more accurately, the firm that manages the physical property on behalf of the investment company... layers within layers!

[cfq 3]

If you are referring to the company that manages the rental apartment on behalf of its owner ('Sondereigentumsverwaltung'), it is likely they were doing a less than satisfactory job and so the owner switched to a new one as soon as the contract could be cancelled, which probably had a minimum duration of a year.

 

I have my apartment rented out and have seen this from the owner's perspective. I decided to pay a property management company to get some of the work off my hands, but I actually ended up having to do more work to fix their mistakes!

[sos-the-rope 302]

2 hours ago, cfq said:

If you are referring to the company that manages the rental apartment on behalf of its owner ('Sondereigentumsverwaltung'), it is likely they were doing a less than satisfactory job and so the owner switched to a new one as soon as the contract could be cancelled, which probably had a minimum duration of a year.

 

I have my apartment rented out and have seen this from the owner's perspective. I decided to pay a property management company to get some of the work off my hands, but I actually ended up having to do more work to fix their mistakes!

 

That sounds about right.