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Updated over 18 years ago on . Most recent reply

User Stats

158
Posts
10
Votes
Sam Green
  • Real Estate Investor
  • Delaware
10
Votes |
158
Posts

Problems with management company. NEED HELP!

Sam Green
  • Real Estate Investor
  • Delaware
Posted

Hi. I'm having serious problems and need help. I've got a few properties out of state which are being operated by a management company. Here are some of the problems:

1 - My contract with the manager states that they can't spend more then $100 on repairs/expenses without my permission. I just got an invoice for the last month with 6 items costing over $100 - some up to $250. I'm livid. I've spoken to them in the past regarding this and they promised to contact me in writing or by phone anytime there was an issue that cost more then the $100. They have not attempted to contact me about any of these problems.

They've violated our contract. I wouldn't have necessairly approved these repairs and they had no right to spend this money on my behalf. What should I do? Should I get a lawyer? Can I get damages? Should I call them and confront them?

GET THIS: One of the charges was for $165 to remove vines from a sidewalk.

2 - Less important - they have been terrible at finding tenants for my properties. I've had vacancies for months now, and they can't get me a tenant. In addition, they are advertising in some magazine without asking me. They are spending $100 for every 3 weeks worth of ads. Up to now they had been advertising in the paper for much less. Either way, they are still not filling the empty units.

Sadly, this is one of the best rated companies in the area and comes recommended.

I need help. Please give me some advice.

Most Popular Reply

User Stats

553
Posts
24
Votes
Jim Gordon
  • Residential Real Estate Agent
  • Ohio
24
Votes |
553
Posts
Jim Gordon
  • Residential Real Estate Agent
  • Ohio
Replied

First rule of thumb for a small investor is to live within 15 miles of the property and manage it themselves.

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