All Forum Posts by: Ma D.

@Drew Sygit

I already approved the repairs.

I will wait until this is done before switching PMC.

Thanks for your response.

I am an out of state investor and I have 2 rental properties in New Jersey that I had hired a property management company to manage since mid 2019.

I'm currently very stressed out, they abused my trust, took money and never repaired anything right and my properties' condition has deteriorated.

Last week I came to know more details about each property's condition as town inspector's got a hold of my number and called directly.

Everything they've been doing is reactive.  Lack of response to me or to the tenants via email or phone.  When I do get them on the phone, it's as if I'm talking to myself.  It's been extremely frustrating and stressful since I've hired them.  Over the recent months I've come to know that they have not properly repaired problems that I've made payment contributions for.  The tenants had filed multiple complaints and they have not addressed any of it.

At the moment, both properties need major fixes and I have been asked to yet again make payments for repair.

Being still fairly new to all of this.  I wanted to seek your advice because on one hand, I have tenants that need to be taken care of with proper living conditions and on the other hand the company I've hired to do that is negligent and can't be trusted to do the right thing.

I want to fire this company but should i wait until repairs are complete?  Is there any legal route for me to claim damages caused by the property manager due to their negligence?

I would really appreciate if anyone can share good PM companies in Jersey and attorney's in the area that can help advise me about this situation.

Thank you.

when is the February meeting up?

I would love to go if anyone cancels?

Thanks Basit.

Yes I do own them as single LLC owner.

Originally posted by @Kim Meredith Hampton:

Ma,

Check on the NARPM national site and look for your state and area, not sure about your area. You could also check with the local or state Realtor Board if Realtors

 Thank you.  Wasn't aware of this site.

@Andrew Thanks for your quick response.

These are residential properties in NJ area.  I'll be sure to post details once my situation is sorted out, perhaps in a separate topic.  I'll PM you specifics around the turnkey package.

Hi everyone,

I purchased a "turnkey rental" package of two properties from a management company in Feb 2017. However, after almost one year they're still vacant. It did have to go through a construction period, inspection and the past few months search for tenants. But the fact is since my purchase they haven't been producing any income. In my K1 do I claim a loss for the year or since the search for tenants began? I'm hoping I can claim some of these in losses when I do my taxes soon. Both of the properties are on separate LLC.

Thanks

Hi everyone, I currently own 2 properties in the NJ area and would like to get a PM to manage these for me. I would appreciate it if you can suggest some in the area? thanks

I'm also looking for finding investment in LI area where I live. Would like to connect with agents familiar with the area. I'm interested in investing towards rental properties primarily. Feel free to PM me.