All Forum Posts by: Lenny Markus

Pretty much what it says on the tin. 
14 property portfolio across Austin and Houston, most insured trough Liberty mutual, plus a $2M umbrella policy,  but prices have increased steadily, and not always in line with the property value. 

It’sa good time to reassess, so looking for recommendations on insurance brokers/companies that would provide decent value for their services. 

(Also open to any/all advice! )

Thanks In advance! 

I secured a property management company to get my house leased. Once I signed the agreement, the realtor I spoke to stopped replying for 1.5 months until I pushed a lot to get an answer and left several voicemails because the tenants were leaving that week and I had no idea if they were still leasing the house.

Then one day I get a text message from a staff from that company saying that she'll be taking care of leasing my house and that the other person I spoke to, was only the sales person, which they never told me I'll be working with someone else.

As part of the deal, they were going to take care of make-ready since I live out of state. They asked for additional $300 to take care of that. I agreed since I didn't have much choice.

They found the contractors: a handyman and someone to replace the flooring. The handyman finished the job. The flooring guy asked me for advance cash and never did the job, which I only found out a week later.

I am now down $6k and the flooring is still not done or started. I contact the realtor who was supposed to be overseeing the make ready, and she's now saying that it's not her fault, that the contractor was referred to her by another contractor, and that my repairs are an actual remodel because I am changing the flooring. She has also never answered any phone calls and everything has been through text messages, she said that it's because she wants to have everything in written.

I asked the flooring guy to refund my money, he said he'll do it on Saturday. Today, it's Monday and there's no refund at all and he has not replied to my messages since Saturday. I Zelled and Venmo'd him, so I cannot file a claim with the bank unfortunately.

Can someone help with advise on what are my options? and if anyone has gone through similar situation, please let me know what worked for you.

Thank you for your help!

I secured a property management company to get my house leased. Once I signed the agreement, the realtor I spoke to stopped replying for 1.5 months until I pushed a lot to get an answer and left several voicemails because the tenants were leaving that week and I had no idea if they were still leasing the house.

Then one day I get a text message from a staff from that company saying that she'll be taking care of leasing my house and that the other person I spoke to, was only the sales person, which they never told me I'll be working with someone else.

As part of the deal, they were going to take care of make-ready since I live out of state. They asked for additional $300 to take care of that. I agreed since I didn't have much choice.

They found the contractors: a handyman and someone to replace the flooring. The handyman finished the job. The flooring guy asked me for advance cash and never did the job, which I only found out a week later.

I am now down $6k and the flooring is still not done or started. I contact the realtor who was supposed to be overseeing the make ready, and she's now saying that it's not her fault, that the contractor was referred to her by another contractor, and that my repairs are an actual remodel because I am changing the flooring. She has also never answered any phone calls and everything has been through text messages, she said that it's because she wants to have everything in written.

I asked the flooring guy to refund my money, he said he'll do it on Saturday. Today, it's Monday and there's no refund at all and he has not replied to my messages since Saturday. I Zelled and Venmo'd him, so I cannot file a claim with the bank unfortunately.

Can someone help with advise on what are my options? and if anyone has gone through similar situation, please let me know what worked for you.

Thank you for your help!

Thanks. In this case, it was actually a future cancellation. I called on Jan 25th  asking to cancel on Feb 1st.

Thank everyone. Just a quick gut check.

While shopping around, I found a better deal for investment property insurance.

When I called my current agency to cancel the policies I had with them, they replied with the following:

"Good Afternoon,

To cancel these polices, we will just need the new proof of insurance, or if the homes were sold, a copy of the closing disclosure. Once we receive those, we will get cancellation requests generated with the dates of cancellation and email back to you. It will just need an electronic signature, and then the cancellations can be processed, and Progressive will refund any unused premiums on the policy."

Note: These properties don't have a mortgage on them.

I sent the information because it's not a big deal, and I had better things to do than fight them on it.The request strikes me as really weird though. (My best guess, they want info on how much the competition charges). Can an insurance agency refuse to cancel a policy if there's no replacement in place?

Thanks @Jason Bott,   Not too concerned about the FL one, as I'd figured it would be hard to group it with the others.  Thanks for the advice!

Thanks @Cameron Tope!

@Jared Townsend, ideally single carrier, whether it's one or multiple policies. I'm hoping I can simplify things a bit, while leveraging multiple properties for a better average price.

Hi folks,

Looking to consolidate a portfolio of single family rental properties in TX.

Four in the Round Rock area, two in the Katy area.

(We also have one in Florida, and if you can also cover that one, it's icing on the cake :) )

Thanks in advance!