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Updated 19 days ago, 12/05/2024
PLS HELP!! Property manager spend $8k over budget
Hi I had my property manager handle my renovation on a unit in Maine while I am living in Connecticut. I specified that my budget is $15,000. After she gave me the numbers, I calculated the rehab to be around $16,000 which I was fine with.
I saw on the app we use to track expenses that there were small charges for the rehab which I was fine with. Today an almost $19,000 charge came in which totaled the renovation charges to almost $22,000. I cannot afford another above the $16,000 which is why I told her $15,000 was the budget.
I also stated to let me know of any extra charges that come up so I can watch the number. And out of no where a $19,000 charge comes out.
What do I do?? I’m a young investor and have no money. And I feel like I got took advantage of. I also cannot afford this.