Beware: MidSouth Best Rentals

[Miles Tiglao]

I inherited MidSouth Best Rentals (https://midsouthbestrentals.co...) as a property manager when I purchased some Turnkey properties in Memphis.  For the past 2-3 years, they seemed fine.  But when I decided to sell a few of my properties I started finding all sorts of issues.

1) They tried to charge me $4570 for a turn prior to selling a property.  When I had my doubts, I had my realtor check it out and she said it wasn't needed.  I didn't do the "recommended maintenance".  The property sold as soon as I put it in the market.

2) As I was selling another property, my realtor noted damage to the roof (a blue tarp was covering it).  When I asked about it, it was due to an ice storm that occurred 4-5 months prior!  They "forgot" to tell me about it and gave me an excuse that they didn't tell me because insurance wasn't going to cover it anyway.  I talked to my insurance agent, they do.  But now that it's been so long, I'm having a lot of trouble getting my insurance company to cover the damage.

3) I was in the process of selling a third property, and I had to keep asking my PM if my tenant moved out.  I kept on getting excuses.  My realtor checked on the property herself and confirmed that it was vacated.  It still took them another week to confirm but only because I explicitly told them that it was vacated.  Each step of the way, I didn't get an update from them.  I had to keep asking.  And I kept asking if they would initiate collections on the tenant because she didn't pay her last month rent.  They dodged the question for 2 weeks despite multiple follow ups.  Finally, they told me that since they will no longer be the property manager, it's not their responsibility to initiate collections.

Beware of this company.  I am pulling my remaining properties from them. I'll take responsibility for not managing my PM better or just being okay with the PM based off of a single recommendation.  I was a fairly new investor then and this is a lesson learned for me.  

Sharing my experience to help my fellow Memphis investors.

[Terez Jones]

Miles...all I can say is WOW!!!  I can't tell you how many times I have heard these type of horror stories, but this will definitely be at the top of the list.  Many PM companies in the area are small and they don't have the resources, manpower, or processes in place to actually get the job done.  Pulling your properties is a wise decision!  Poor communication, poor maintenance management, and not helping you with an exit strategy is not a good partnership.  I'd be happy to connect and maybe come up with some solid plans.  Let me know!  Thanks!