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Updated about 5 years ago on . Most recent reply

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14
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Brandon Parkes
  • Toronto, Ontario
6
Votes |
14
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URGENT - HELP. Need PRO feedback on this management question.

Brandon Parkes
  • Toronto, Ontario
Posted

Hey BP crew. 
Brandon from Toronto here. I have a couple of properties in Canada and last year, opened an LLC and purchased a duplex in Detroit. For obvious reasons, I employed the use of a management company and have had problem after problem WITH THEM ever since.

It started with chasing payment, because they weren't transferring funds as per the schedule on their contract. Then there were incidents with expenses that seemed abnormally frequent, some of which I have still been chasing for documentation. It has now escalated and I have not received the deposit for Nov or Dec and am having a very tough time with this altogether.

Can you please share some feedback here. How can I pursue this in the US legally. Should I be switching property management companies ASAP? If I switch, how can I go after the money owed? Should I be seeking legal to come after them.? Should I be threatening legal action to get them to get caught up on their deposits?

We have a 2 year old boy and infant twins. We need to get this sorted ASAP and I need some help.
Thank you in advance.
Brandon

Most Popular Reply

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Cassi Justiz
  • Rental Property Investor
  • Edmond, OK
1,594
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1,460
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Cassi Justiz
  • Rental Property Investor
  • Edmond, OK
Replied

Someone from Detroit may be able to better answer this, but in my area each property management group has to have a real estate broker involved. We have a state real estate commission that oversees the activities of property management companies and real estate agents.  I would be surprised if Michigan doesn't have a state regulatory agency that oversees activity of property managers. 

You should find a local real estate attorney to help you navigate this. (Hopefully someone on here will have a good recommendation). They can review your management agreement and advise you on the best way to proceed. 

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