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Updated 3 months ago, 09/18/2024
Anyone have experience with Home365?
Hi All,
Looking to see if anyone has used Home365 property management. They are expanding nationwide. I'm curious to hear just from people who have actually used them or interviewed them. Thanks!
@Terrance Curry
I have been with home365 for 6 months now and have not seen a penny while I have had full rent payments. This is a sign you should run. I am currently exploring alternative options.
The accounting system on the platform is completely messed up and thinks I owe $12k while in reality they owe me a few thousand. I am an accountant and exported the ledger and showed this to the PM and he agrees with me but there is nothing he can do since they don't have control over the platform. In my opinion the only reason they are still in business is that they are trapping customers who think one day they will get their money. Not sure how this company survives an audit.
Do yourself a favor and stay with the devil you know!
Hey Terrance, sorry that I missed this. If you're property is in decent shape and there isn't much concern of the renter paying, then I would decline it. In general, their platform has not been good and we are getting more frustrated by the tech side of things. It has been hard to keep track of the accounting side of things, which should not be that difficult. They claim to be coming out with new features in the coming weeks but I don't have much faith, unfortunately.
Hope that helps!
I have had this issue as well - in fact rent went up by $114 with no notice on there ledger...no late payments or anything....I had to switch payment options to cover the new ledger number. (made no sense)
I sent in a ticket on the 1st of the new year to recoup the money they now owe me.
@Sane Tryark
My management fee suddenly went up this month too. They told me it is December and January combined, however they already charged me for December. So now I have to fight with them on this…
During my internet search for better property management for the Atlanta area, I found Home365 and was impressed with their pitch by phone. I feel fortunate to see all your comments on BiggerPockets! Home365 quoted me by phone last week 7% monthly management fee and 50% placement fee for their "Standard Plan," but their WRITTEN Prop Mgmt Agreement actually lists many fees and limitations.
For Home365's One Rate plan, which "guarantees rent," and supposedly pays all maintenance costs and eviction costs and repair costs, etc., they quoted me 23% with no fees. How much did they quote y'all?
However, their 38 page Prop Mgmt Agreement for OneRate is daunting--it lists many exclusions to their obligations such as any damage caused by force to a surface (whether from tenants, animals, roots, wind or other force of nature, etc). Other exclusions are roof replacement, anything requiring a permit, exterior painting if more than 5% of surface, "maintenance related to the garden, lawn, or landscaping," anything covered by any of the various required insurance policies, etc. I'm similarly surprised to find that their written OneRate plan management agreement states: "For both Evictions and Other Suits, Owner shall be exclusively responsible for all attorney’s fees, vendor, service provider, expert, and court costs."(para 5.1.c). Really? Seems to contradict the them of "OneRate."
They claim to have 9,000 doors under management in eleven states. So I imagine they are doing something right. But I'm finding many warnings from your collective postings here on BiggerPockets. IDK--Have any of you had an overall positive experience with Home365?
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Amazing how many investors, who are supposed to be business people, not just normal consumers, fall for sales pitches that lack substance once you dig deeper.
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Quote from @Tim Walsh:
During my internet search for better property management for the Atlanta area, I found Home365 and was impressed with their pitch by phone. I feel fortunate to see all your comments on BiggerPockets! Home365 quoted me by phone last week 7% monthly management fee and 50% placement fee for their "Standard Plan," but their WRITTEN Prop Mgmt Agreement actually lists many fees and limitations.
For Home365's One Rate plan, which "guarantees rent," and supposedly pays all maintenance costs and eviction costs and repair costs, etc., they quoted me 23% with no fees. How much did they quote y'all?
However, their 38 page Prop Mgmt Agreement for OneRate is daunting--it lists many exclusions to their obligations such as any damage caused by force to a surface (whether from tenants, animals, roots, wind or other force of nature, etc). Other exclusions are roof replacement, anything requiring a permit, exterior painting if more than 5% of surface, "maintenance related to the garden, lawn, or landscaping," anything covered by any of the various required insurance policies, etc. I'm similarly surprised to find that their written OneRate plan management agreement states: "For both Evictions and Other Suits, Owner shall be exclusively responsible for all attorney’s fees, vendor, service provider, expert, and court costs."(para 5.1.c). Really? Seems to contradict the them of "OneRate."
They claim to have 9,000 doors under management in eleven states. So I imagine they are doing something right. But I'm finding many warnings from your collective postings here on BiggerPockets. IDK--Have any of you had an overall positive experience with Home365?
no, it's getting worse. will not add another property with them... it's been an absolute disaster and I tried to give it every chance because they are integrating tech with traditional. The tech is terrible, the customer service is terrible. Stay away
Quote from @Tim Walsh:
During my internet search for better property management for the Atlanta area, I found Home365 and was impressed with their pitch by phone. I feel fortunate to see all your comments on BiggerPockets! Home365 quoted me by phone last week 7% monthly management fee and 50% placement fee for their "Standard Plan," but their WRITTEN Prop Mgmt Agreement actually lists many fees and limitations.
For Home365's One Rate plan, which "guarantees rent," and supposedly pays all maintenance costs and eviction costs and repair costs, etc., they quoted me 23% with no fees. How much did they quote y'all?
However, their 38 page Prop Mgmt Agreement for OneRate is daunting--it lists many exclusions to their obligations such as any damage caused by force to a surface (whether from tenants, animals, roots, wind or other force of nature, etc). Other exclusions are roof replacement, anything requiring a permit, exterior painting if more than 5% of surface, "maintenance related to the garden, lawn, or landscaping," anything covered by any of the various required insurance policies, etc. I'm similarly surprised to find that their written OneRate plan management agreement states: "For both Evictions and Other Suits, Owner shall be exclusively responsible for all attorney’s fees, vendor, service provider, expert, and court costs."(para 5.1.c). Really? Seems to contradict the them of "OneRate."
They claim to have 9,000 doors under management in eleven states. So I imagine they are doing something right. But I'm finding many warnings from your collective postings here on BiggerPockets. IDK--Have any of you had an overall positive experience with Home365?
There is actually a simple answer to why they claim to manage over 9,000 homes. They go around the country partnering/acquiring existing property management companies. The interesting stat would be how many of those homes they acquired left after having a bad experience. You can compare it to someone you met having $1M and thinking they must be doing something right, but was originally given $10M.
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Quote from @Scott Michael Gross:
Quote from @Tim Walsh:
During my internet search for better property management for the Atlanta area, I found Home365 and was impressed with their pitch by phone. I feel fortunate to see all your comments on BiggerPockets! Home365 quoted me by phone last week 7% monthly management fee and 50% placement fee for their "Standard Plan," but their WRITTEN Prop Mgmt Agreement actually lists many fees and limitations.
For Home365's One Rate plan, which "guarantees rent," and supposedly pays all maintenance costs and eviction costs and repair costs, etc., they quoted me 23% with no fees. How much did they quote y'all?
However, their 38 page Prop Mgmt Agreement for OneRate is daunting--it lists many exclusions to their obligations such as any damage caused by force to a surface (whether from tenants, animals, roots, wind or other force of nature, etc). Other exclusions are roof replacement, anything requiring a permit, exterior painting if more than 5% of surface, "maintenance related to the garden, lawn, or landscaping," anything covered by any of the various required insurance policies, etc. I'm similarly surprised to find that their written OneRate plan management agreement states: "For both Evictions and Other Suits, Owner shall be exclusively responsible for all attorney’s fees, vendor, service provider, expert, and court costs."(para 5.1.c). Really? Seems to contradict the them of "OneRate."
They claim to have 9,000 doors under management in eleven states. So I imagine they are doing something right. But I'm finding many warnings from your collective postings here on BiggerPockets. IDK--Have any of you had an overall positive experience with Home365?
no, it's getting worse. will not add another property with them... it's been an absolute disaster and I tried to give it every chance because they are integrating tech with traditional. The tech is terrible, the customer service is terrible. Stay away
When tech business is integrated with traditional business, it simply doesn't work.
I could list so many.
just run!
here are my stats on 6 months being with them (not by choice but they acquired the property manager I had in chicago) I have 22 units in 4 buildings
Rent 22.5% lower rent Expense 34% increase in expenses
Also all expenses are way above market rate with minimum oversight for vendors overcharging or proper negotiation for volume work. They dont own their crew and outsource at market prices that you can find on Taskrabbit
By the way there is also no phone number for owners and complete lack of sense of urgency and accountability.
This might work for single family owners with properties on the B+ A segment that how low maintenance but even then I would be worried about rent collection, evictions and delinquencies not being properly attended
All, can’t thank you enough for the information! Home365 has a really good *idea* but looks like they can’t execute. Question: are there other property managers that take the all-encompassing/OneRate approach, but are much better to work with?
Quote from @Dre N.:
@Sane Tryark
My management fee suddenly went up this month too. They told me it is December and January combined, however they already charged me for December. So now I have to fight with them on this…
While I didn't get the above mentioned credit I did get a different credit from them. It took about 2 months and following up several times.
I had every intention of posting something positive about Home365 (to give credit where credit is due) as I transitioned away from their property management. However, of course the good time was short lived. I submitted 60 days notice to terminate my contract with them in mid December so mid February would end the property management agreement. Around mid January I checked in as I wanted a smooth transition as a tenant was just placed in December. I was told everything was on track to be transitioned out in February after the credits were applied to my account. A couple weeks go by (still in January) and I attempt to login to my account and I couldn't sign in. I text, no answer. I call, no answer. Email, no answer (this is typical). Since I can't sign in, I can't create a support ticket. My only option on their website was to submit a new customer form. I had an old support ticket so I replied to that to see if their support team would get back to me, which they did a day later. In the meantime, I found a number for someone who had reached out to me in their maintenance department and he was responsive. He confirmed that my property was no longer active in their system. Thanks for the heads up guys... Instead of having a smooth transition I’m still owed over $1000 in credits and rent is now due so I have to make sure the tenant doesn't pay the rent to Home365 as I'd have to then fight to get that back. Fortunately I had saved all documents from their website and was able to find the tenants email address as a starting point. I could no longer access my Home365 account to access my property files and they provided me no other information about the tenant.
Overall
Communication - terrible. You have to schedule meetings with the metro manager. You can barely call someone as things are an 800 number. You constantly have to check in on them throughout the rental process and typically get partial answers. Even when I got someone’s cell phone timely communication was slim. I once stopped into the office due to no response and even then it yielded no response.
While its great that I'm no longer a Home365 customer and got out a few weeks early, it wasn't a smooth ride. I had to find out on my own that my account was closed, they placed 3 bad tenants back to back (in 1 years time), and for the past 5 months I've been dealing with a tenant that lived in the property for less than 24 hours and is suing me for $25k because of Home365's "technology" and negligence. Their standard contract absolves them of their actions and hangs you out to dry so they can continue providing poor service to tenants and owners. Working with them is the biggest mistake of my real estate journey. This is my first rental and has been a terrible experience. The only reason I had to have a PM is the city I invest in requires you to have a PM if you don’t live close to the property otherwise I would have self managed. If I were managing the property my current legal situation would definitely not have occurred. I don't remember a time when I was this frustrated with a company.
Great feedback, Dre. So sorry to hear that Home365 did you wrong, too. In which location is that rental property of yours? I'm still searching for Atlanta property manager for good south metro Atlanta area. All the best.
Quote from @Tim Walsh:
Great feedback, Dre. So sorry to hear that Home365 did you wrong, too. In which location is that rental property of yours? I'm still searching for Atlanta property manager for good south metro Atlanta area. All the best.
Hey! Past renter from Home365 here. If you plan on using them I highly suggest doing anything else! They left us without hot water for two months upon moving in. They are being sued by multiple neighbors for neglect (a broken refrigerator being left broken for weeks, black mold that was in apartments upon move in for new tenants, no heat or air conditioning in units for MONTHS) I suppose Home365 didn’t have an address set up for their bills either, we were actually getting their trash removal bill in our mailbox. It was over four months late at one point. If you are using them, good luck! I can’t imagine your experience will be good, and the tenants you have living in your rental properties will NOT be happy
The uttermost ridiculous company I have ever worked with. Their "rent guarantee" is a joke.
They randomly create an ad rules every time they please like it in order to not pay that rent guarantee, but they still continue to charge you the full amount for that additional benefit.
Their portal is broken and throughout my year with them every week I'm basically on a call with Justin trying to figure out what went wrong and everything takes months to get fixed. I have been trying to get in contact through calls and emails for weeks as an owner with No response. I will want my tenant's deposits to give as I SOLD my property, only because of how stressful dealing with them was. Now I am waiting weeks to get in contact to get the tenant deposits they hold, which are the property on the new tenant and that I don't need Home365. I had a year contract I can't break unless I SELL. RUN PEOPLE.
Quote from @Dre N.:
Thanks @Carlos Medina.
As previously mentioned, stay away.. I’m now battling a civil lawsuit (that I wasn’t informed about) thanks to Home 365 dropping the ball on a tenant issue and they’re not helping. Communication is terrible, I’ve gone upwards of 2 weeks before getting a response
Out of the dozen or so I’ve dealt with at Home 365 there’s only 3 people that have been great to work with. One of them is my RE agent. His team has been amazing.
Hi I'm looking for property manager in Lanacster PA. I PM you
I am looking to buy my first investment property in central PA and found a real estate agent I like who works with Home365. After reading this forum I'm not so sure. Does anyone have a good alternative in central Pennsylvania, Harrisburg/York area? Searching online, it seems all the property managers have awful reviews.
Quote from @Christopher Heckmann:
I am looking to buy my first investment property in central PA and found a real estate agent I like who works with Home365. After reading this forum I'm not so sure. Does anyone have a good alternative in central Pennsylvania, Harrisburg/York area? Searching online, it seems all the property managers have awful reviews.
Your results may vary, but the RE agent that I worked with to buy this property also works for Home365, he was great.
I think they should separate the PM business from the brokerage business as I know of a couple agents on their team who are good and the sales team is likely are missing out on sales opportunities because of the awful service from the PM side casts a bad light on the entire company.
@Christopher Heckmann we manage nearly 750 units in the Pittsburgh PA market. We also have some bad reviews. Its common place and I just dont have the time to combat the bad reviews or expend the energy. We work with referral or repeat customers only and over 21 years in the business I can tell you 90% of the bad reviews are tenants who are unrealistic, owe money or some other problem that was caused by them but they want to blame the property manager. Now with that being said there are some awful companies out there so choose wisely. If you private message me I can send you some questions to ask when you are interviewing. A lot of how a property manager performs will be how nice your property is, how realistic your rent amount is and the area the property is located.
Hello @Christopher Heckmann. I'm an investor myself that has property management company for 3rd party clients as well as an investor friendly agent in the Harrisburg PA area. I'm happy to help you with your real estate journey in Central PA with any questions or issues you may have.
- Travis Wylie
Quote from @Christopher Heckmann:
I am looking to buy my first investment property in central PA and found a real estate agent I like who works with Home365. After reading this forum I'm not so sure. Does anyone have a good alternative in central Pennsylvania, Harrisburg/York area? Searching online, it seems all the property managers have awful reviews.
Hi if you are looking for a buyer agent I can recommend Home365. They helped when I searched my first house in Pennsylvania.
Is there a live person to talk to? I been trying to reach them about renting , but i can’t get through the 1800 number .. it’s a recording and the emails go unread
Quote from @Jonathan Liebman:
@Terrance Curry
I have been with home365 for 6 months now and have not seen a penny while I have had full rent payments. This is a sign you should run. I am currently exploring alternative options.
The accounting system on the platform is completely messed up and thinks I owe $12k while in reality they owe me a few thousand. I am an accountant and exported the ledger and showed this to the PM and he agrees with me but there is nothing he can do since they don't have control over the platform. In my opinion the only reason they are still in business is that they are trapping customers who think one day they will get their money. Not sure how this company survives an audit.
Do yourself a favor and stay with the devil you know!
Good day all! I signed a one-rate and a standard plan. They appear to cover nothing for the 1 rate. I was hoping to eliminate some of my policies that I had prior to hiring them, however they have informed me to keep everything. So, I've asked several times, how do I save with this program if I'm paying you 23% and have the same bills. They have not released any of my rent payments that they have collected. I was informed that my ID was unable to be uploaded to the system, which was holding up my payments. Tomorrow the funds are to be released. I thought it would be about $12k, however all back rent and current July rent have not updated in my accounting. Additionally, I've an apartment vacant for 5 months, they claimed 38 viewings with no interest. So, I stopped by the property to see the unit... it was dirty, damaged, and still had the furniture in it that the tenant left. They changed the lock box and refused to give me the code. After going into the unit and providing them the results of my findings they changed all the locks in the unit. As to restrict my access to the unit. It been over a month that I've been asking for access to the keys for storage areas at my property. No centralized database of information to give me an update. My tenants are complaining of incomplete work orders and some have threatened to move since they took over.