Property Manager Skipped Town

[Berlinda Luong]

Hello BP Community!

I was hoping to get some advice. My last property management company still owes me security deposits and rental income (totalling about 16k). I was travelling a lot so I didn't check in too much, especially since I can cover the mortgage on the property with my income. They would tell me I should have a certain amount of reserves with them in case of a large project. When I finally hit 10k in reserves, I started trying to get some income, which is when they started dragging their feet. I fired them after finally meeting my tenants in person and the tenants begged me to find another company. 

Right now, I've hired a lawyer to send a debt collection letter for me and hopefully after the COVID-19 is under control, I can visit the office in person to see about a payment. Are there any other steps I can take to try and get them to pay me without going to court? Are there other things I could have done? I'm sure this won't be the last time I have PM problems since I plan on buying more homes =)

Stay Safe everyone! BL