Changing managers: what changes, and what doesn't, for your tenants

Many owners hesitate to change managers for fear of disrupting their tenants. In reality, a well-run takeover goes almost unnoticed by them: only the payee of the rent changes.

What does not change

• Current leases stay the same: term, rent, charges, anniversary date.
• You remain the landlord. The manager acts on your behalf under a management agreement.
• Rental deposits stay where they are, usually in a blocked account in the tenant's name. We simply take over the references.

What changes

• Each tenant receives a letter introducing the new manager, their contact details and the account for rent payments.
• Technical and administrative requests now go to the new manager.
• Rents are collected into a designated client account opened for your file alone.

The steps of a takeover

1. You end your current manager's mandate, respecting the notice period in their agreement.
2. We sign the management agreement together and open your file.
3. We gather leases, inventories, deposits, insurance, maintenance contracts and current statements.
4. We inform the tenants and, where relevant, the building manager.
5. We check what needs checking: lease registration, EPB certificates, indexations, maintenance deadlines.

A good time to take stock

A takeover often reveals a forgotten indexation, an expired EPB certificate or a missing detector. We flag it at takeover, with a proposal to put it right.

What BDW Invest does

We take over a single flat as well as an entire portfolio that is already let. Your manager guides you through each step and can handle the exchanges with the previous manager if you wish.