All Forum Posts by: Danielle Levy

Hi all, thank you very much for the replies. 

We are not large scale but we do own properties in multiple states and are aware of the limitation of a subjective line like "should have rented in a hot market". We consulted here because we're certain they truly were negligent. 

In terms of renting it out - we saw the unit was offline on Zillow and other listing websites depsite the fact it was supposed to be on, and we were the ones who notified them of it. We were told explicitly that they don't want have time to do more showings bc they think a tenant is comitting, and that tenant fell through in the end. And in terms of the unit - we own 4 others in a 3 mile radius and are very familiar with comps. We ran the numbers and saw what rented and know the price was okay. We also put $10K into rehab at turnover right before.

In terms of the expenses, we're honestly not sure if they are stealing or just imprecise. Rehab contractor charged $10K, the online report says $16K. We asked for receipts but haven't received them, even though according to contract they're mandated to share them.  

Most importantly, they are disrespectful and bad business people. It's a small shop and we deal with the owner, no one to escalate to. 

Of course we can cut our losses and switch. We just really wanted to see if we can get something back because they are really bad at the job and have cost us many thousands of dollars (if not more).   

We are extremely unhappy with our property management company. They failed to rent a unit in a great location/condition and a hot market for 4 months, and the rehab expense reports don't line up with the estimates they provided. We don't believe they are stealing, but their negligence has cost us a lot of money.

* Is this enough to file suit in small claims court? 

* What types of evidence would we need?

* And most importantly, does it open us up to counter lawsuits? 

We would of course switch properties to another company in advance. We have a standard management agreement with a hold-harmless clause but nothing mandating arbitration. 

Hello - 

I have an investment property that unfortunately had a fire. The property has a mortgage on it but I used a quit-claim-deed right after the purchase to transfer ownership to avoid any liability issues. I know this is technically not allowed by lenders but I did not have any problems. 

I now have to submit a claim for the fire and I am concerned about how the insurance company will react - the title is under the LLC name but the insurance is under my personal name.

Will the company look at this and will it be a problem? I am 100% owner in the LLC.

Any help or guidance from experienced investors here would be very much appreciated. Thank you.