All Forum Posts by: Richard Pace

If you really want to know more on LETTS, and how they ruin a business, read my post.

Just a word of warning, from someone that's been there... Beware of Lett, They give a great appearance in the beginning, but then ran your business to the ground.. Check out other posts about Letts..

Good Luck

Justin, we own 28 units in Chicago, and unless a miracle struck Letts, I doubt if your post is true. They ran our business into the ground, and we nearly lost the buildings because of their lack of attention, misrepresenting the truth about what they did in the units and charging us for work never done. Units remaining empty for months on end.. and to top it off when we cancelled the contract with them and applied for their six month reimbursement of management fees, WE NEVER GOT THE REFUND,... and I could go on. So, Letts is either a personal friend of yours, or he has supplied you with personal favors to write your comments here. In my books Letts may deserve a 1 on 5.

Hi Elizabeth

If you want to remain in business, stay away from LETTS. Janet is a great person, but all she does is the PR. The back bone is very bad, and all they do is take their fee's, and run your property into the ground. We had first hand experience, when we gave them our 30+ units in Chicago. After five month numerous units remained un-rehabbed nor rented. When they finally got around to fixing up a unit, the work was very bad, and they charged us for items never installed or done. We found out when we surprised them by going to Chicago, and requesting to see the finished units. The chose is yours, but you have been warned. When we confronted Preston Letts, all he did was lie to our face. Also their contract has a clause in it that if after six months you are not satisfied they reimburse you all the management fees. We cancelled our contract and advised them in writing and requested the reimbursement in September 2014, which to date after numerous attempt, have not received. We are presently with Anton Asset Management, and although they are very business they are handling the properties much better than Letts. Hope this give you some insight.  Good luck

Richard

Hi Tim

Have been with LETTS for nine months, and believe me when I tell you LETTS is a let down. We fired them in August and it took two month to receive our money from them, and they still have not remitted the complete balance owned, which will probably result in legal action. They did not follow through on anything they promised, units stayed not rent for eight months, rehab work assigned took months to finish, and the job was not what was on the scope of work. Work that they said was done and we paid for, was later discovered had never been done. They ran our businesses into the ground, and we lost over 30k with them. If you like more info on them send me a PM, and we can discuss. My advise stay away