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All Forum Posts by: N/A N/A

N/A N/A has started 2 posts and replied 13 times.

Hi there,

We have just recently experienced the same things with our pm company, only we have been through two companies so far, and now are finally selling these awful properties.....we have lost $26,000 in 8 months of ownership, about $10K in lost rents and $10K in repairs plus our pm expense. They were doing the same to us, and I repeatedly called them & left messages and told them direct they better honor the contract-one companies contract read the anything over $300 in repairs had to be authorized-but charged us in 3 parts on one bill-$40 & $165 for two companies to do the same repair, and then a bill of over $800-pertaining to the water heater...well, they sent the bill to us like two months after the work was done-we had no idea, as they never ok'd it with us....I threatened to turn them into the BBB, and the Dept. of Real Estate-(they don't want any marks against their R.E. License), they reimbursed me the $800, since I really paid $40 twice-it was billed two months in a row-I did not catch it until later, and $165. Also, they have over charged on legal fees to do evictions, they have "forgot" to collect the additional rent when it increased, supposedly for 3-4 months, then suddenly found the additional rent they had collected when I was ready to file a complaint. It has been the worst experience of my life!!!!! We have been double and triple charged for everything-I have paid my own repair guys to go fix something, and the PM goes out & fixes it too, even though we said not to fix anything anymore-then they claim it was never done by my guy-or they will charge me $100 to move a washer & dryer out of a unit, and then suddenly the tenant it was moved for does not want it anymore, and I have to pay my guy $75 to move to back out of the unit the PM moved it in to-it is so rediculous..........I could go on for hours!!!
Well, my best advise to you is to tell them you want everything in writing-if they recommend repairs they are to email you first, so that you can give your written permission prior to the repairs-then you can do what I do-email them back that you are handling it-they are to do NOTHING to the property!!!! If you have a REALTOR you used to purchase-ask them for a handyman that would do repairs for you that is honest & good, and contract your own repairs out-also BY LAW-AND THE CONTRACT-they can only do repairs above the limitation if it is an emergency, such as to damage the property or if it is a necessity to the tenants-ie; water/plumbing, a/c & heating, things like that-Maintenance is not a neccesity-I would threaten to do a dateline investigation on them-I think all PM's deserve it-and that might work too! LOL......hope this helps!

Thanks so much for welcoming me to the site-I hope to share some real estate knowledge as well!

Originally posted by "wesley":
Well now, Realtorkitty, welcome to our forum!

You've certainly come to the right place for knowledge
and good advice!

I hope that you will be a steady visitor to the REO threads
on this board, and that you will go to the profile section
and fill in your signature block with your phone number
and other info (website, hint, hint) so that people can
do business with you.

Best of Luck!

Hi all,
I am a Realtor, new member here & am interested in getting into REO sales, and would appreciate and welcome any advise from those of you who have specialized in them....thanks a bunch!