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Updated about 1 month ago,
Need a property manager in Birmingham, AL *Bad experience with current Management*
I am looking for a new property manager in Birmingham, AL.
Any help with this would be very much appreciated...
This is a bit embarrassing, but I'm sure that I'm not the only one that hasn't done their due diligence.
I'm an out of state investor.
I purchased a home through a company that had a property management. I went to Birmingham to visit and see the operations. They had everything very well organized and knew how to present the whole package. They made it seem like they were going to make it easy for anyone to invest in the area. After about 6 months I purchased a property that had tenants in it already. They sold it to me as they were going to renew the lease. I was excited since the house would cashflow right away. Well the tenants only paid rent on time 2 months. They were over a month late after that. The PM did minimal to get them caught up. It turns out they would collect the late fees first then apply the rest to the rent. They didn't count late fees to disburse to the homeowner. That was the first year. I should have gotten rid of them then, but I was lazy and allowed them to take over 2 months to place another renter. During which time they would find random things wrong with the vacant property and make the money on that as well.
They placed the next tenants who put the deposit and first months rent down to move in. They never paid rent once they were in. The PM still charged their monthly. They didn't start the eviction process until 2 months after the renters didn't pay rent. They have been in the property since May and it is now December. The eviction is finally happening, but I need to find another PM. I'm sure the property is going to need work. I will be taking possession of the property in the next week or 2.
If anyone has any guidance for me I would greatly appreciate it. I obviously didn't do things correctly, but would like to be able to work with people that can get things going in the right direction.