Problems with my Property Manager in Memphis

[Sunny Gupta]

Hello all,

I am having problems with my Property Manager. He has not been providing the owner statements and has not deposited the rent in my account despite number of emails and phone calls. He seems to be avoiding direct questions about the payment of rent.

As an example, he did some rehab on one of my properties. We agreed that he can hold the rent from 2 of my other properties to pay for the rehab cost. According to my calculations, the rent adjustment paid for rehab in July and since late July, I have been chasing him to provide a reconciliation report so that we can agree on how much he owes me.

I am ready to move the properties to another Property Manager but would like to understand what options I have available to make him pay the outstanding rent to me. I know I can take the legal route but it will be expensive and time consuming. There are a few other overseas investors who are having the same issues.

Any assistance/advice will be greatly appreciated.