What if a Property Manager Vanishes?

[Jefferson Smith]

We found Michael Thompson of Evermark through Bigger Pockets. My partner talked to him extensively and liked him. We both met the guy. Michael did a reasonable job for some months, although he didn't have a good communication habits. In June, he went radio silent, not even completing accounting. Finally, he sent an email in July explaining he and his wife were moving to Southern Indiana, and that he would facilitate a transition to a new property manager.

But he has just ghosted. 

Has not replied to countless phone calls, text messages, and emails in nearly four weeks. We have identified a new property manager, but having no contact with him makes it hard to have a clean handoff (keys, security deposits, etc.) 

Anyone gone through a disappearing/nonresponsive/vanishing property manager before? (Anyone know Michael Thompson?) Any helpful tips? 

(Of course "get a reliable PM!" is the best advice, and we've had good luck in other micro-markets. And that good luck has meant we haven't had to deal with this before.) 

[Joe Splitrock]

@Jefferson Smith if he is holding rents or security deposits, the funds need to be released at termination of his contract. The money is not his. Deposits belong to the tenants. My concern would be if the money was spent to cover expenses in a failing business. I would file action in court to get the money ASAP. This could also be considered fraudulent if the deposits were not handled legally. That could be criminal in nature, so it is very serious.

@Michael Thompson you should get in touch with Jefferson Smith and resolve this issue. If you are a stand up guy, you don't want your name run down. Better to address head on.