Top Mistakes Landlords Make When Choosing Property Management Companies in Olympia

Author : Stability Properties | Published On : 03 Nov 2026

Hiring a property manager is one of the most important decisions a rental owner makes. The right fit can save you time, protect your investment, and keep tenants in place longer. The wrong fit can lead to missed rent, unclear communication, and a contract that is hard to leave. When owners ask us how to choose property management companies in Olympia, we usually start by pointing out the mistakes we see most often. At Stability Properties, we have spoken with many landlords who switched companies after a poor experience, and the same patterns come up again and again. In this guide, we walk through those mistakes and explain how to avoid each one.

Why the Selection Process Deserves Time

A management company will handle your income, your tenants, and the condition of your property. That is a lot of trust to place in one business. Even so, many owners make the decision quickly, often after a single phone call or based on the lowest fee.

Taking a little extra time at the start prevents far larger problems later. A careful selection process also helps you understand what you are agreeing to before any contract is signed.

Mistake 1: Choosing Based on Price Alone

Fees matter, but a low monthly percentage does not tell the full story. Some companies advertise a low management rate and then add charges for leasing, renewals, inspections, maintenance coordination, or lease termination.

Instead of comparing only the headline number, ask for a full list of every fee the company charges. Then compare the total cost across a full year, including a vacancy and a tenant turnover. A clear and complete fee schedule is usually a better sign than a very low rate.

Mistake 2: Not Reading the Management Agreement Closely

The agreement defines how the relationship works, yet many owners skim it. Key terms are often buried in the details, and they can be costly if you miss them.

Pay close attention to these points:

• The length of the contract and how it renews

• The notice required to end the agreement

• Any early termination fee

• Spending limits for repairs without owner approval

• Who owns the tenant records and keys if you leave

• How and when you receive owner payments

If any clause is unclear, ask for it to be explained in plain language. A good company will be glad to do that.

Mistake 3: Skipping Questions About Tenant Screening

Tenant selection has a direct effect on your income and your property. Some owners assume every company screens applicants the same way, but processes vary widely.

Ask whether the company uses written criteria and applies them equally to every applicant, in line with fair housing laws. You can see how we approach this in our screening criteria, which lists what we review and how decisions are made. Whichever company you choose, you should be able to read their standards before you commit.