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Updated over 5 years ago on . Most recent reply

User Stats

468
Posts
85
Votes
Abdul Azeez
  • Real Estate Investor
  • Monroe Township, NJ
85
Votes |
468
Posts

Property Management issues

Abdul Azeez
  • Real Estate Investor
  • Monroe Township, NJ
Posted

Folks - Anyone else having their property managed by Reedy and company and are running into any issues recently? The experience was not like this over the last couple of years but seems to have gone downhill recently. I have one rental in Memphis, TN and they have been managing it for the last about 2-3 years. We had a tenant who has vacated as of July.  I am noticing some issues as follows:

1. Successive third month going on with vacancy and no tenants. The responses to why the property is unrented is not very convincing. They did get a Section 8 applicant and I told them no section 8 but they tell me its discrimination. After wasting time, the government came back and offered much lower rent and then we declined. Now the clock starts all over again.

2. Random charges  which when questioned get rolled back sometimes. Like for instance I was charged for some smart locks etc. but the repair was never done. When I questioned and asked for photographs, I am now being told I will get a credit since the repairs were not done. Additionally, I see another professional photograph fee for $100 and I have disputed this because usually the leasing fee is supposed to cover this. I also see $42 for someone to have had gone to the property to wait for the utility company to stop over to transfer the account to their name. I feel like I am getting surprised by all random charges. An additional $215 utility fee for an unoccupied rental.

3. No one answers when you call the client services team. How can client services not have anyone? There is this one person I have been asking for time to talk over the last one week to clarify my charges but she has been unresponsive too. In addition, the maintenance supervisor I usually escalate to seems to have emails bouncing from the address.

I am not sure what is happening but the experience is going downhill for me. There is no reason that this property should be entering its 3rd month of vacancy. Does anyone else have a similar experience and are you able to suggest me some alternative property management companies?

Most Popular Reply

User Stats

468
Posts
85
Votes
Abdul Azeez
  • Real Estate Investor
  • Monroe Township, NJ
85
Votes |
468
Posts
Abdul Azeez
  • Real Estate Investor
  • Monroe Township, NJ
Replied

I had a call with Mr. Reedy last week and it went well. He was very appreciative of my issues and has indicated that he will address these. I also agreed to take down this post in the gentleman's spirit that my property will be rented out soon. I believe Biggerpockets has a restriction where a post cannot be taken down. So, I am providing an update here that I did have a very nice conversation. Now, its time to watch how long it takes to rent this out. 

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