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Updated about 6 years ago on . Most recent reply

User Stats

49
Posts
4
Votes
Sohrab Ansari
  • Investor
  • Ann Arbor , MI
4
Votes |
49
Posts

property manager - 16 units - Problems?

Sohrab Ansari
  • Investor
  • Ann Arbor , MI
Posted

About 4 months ago, I purchased a my first 16 units apartment. I got a property manager as I am busy with a day job and I cannot see myself manage property. When we bought it 2 units were vacant (needed some work, one is ready now). 

Couple of things, I don't like about the manager. 

1. Units are still vacant

2. No reports or he sent me a report with very little details. I asked for Monthly P and L and go balance sheet. I have only got one report  so far. 

3. Biggest issue is that I don't have access to the bank about he collect rent in. Is this normal in the industry of management? He says he will send any money and it is best and easy for him to do it that way. 

Is it time to let go of the manager?

Most Popular Reply

User Stats

260
Posts
199
Votes
Seth Williams
  • Real Estate Broker
  • Winthrop, MA
199
Votes |
260
Posts
Seth Williams
  • Real Estate Broker
  • Winthrop, MA
Replied

Get a new manager 

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