Inept Property Management Companies!!!!

[bookworm21]

I apologize in advance for my vent....but I''m really ticked.

I don''t know if anyone else has ever had the extremely frustrating experience of dealing with property management companies that sit on their behinds and do NOTHING!!! After countless phone calls, emails, and promises of numerous tenant applications, the place is still sitting vacant after several months!! On top of that, when I checked their websites (and several others), I found out that they''re doing absolutely NOTHING to market my property at all!! What''s more, the property manager takes about a week to return emails (after I''ve sent her five in a row, in the course of five business days), and she doesn''t return her phone calls until I''ve left at least THREE messages!!! Do you know what I have to do to get a response?!?! I have to CC her boss on EVERY single email!!!

Oh, and apparently, one of their client''s empty houses got broken into and had the stove and some other stuff stolen. They claimed that they didn''t have clue. The owner found out because the seller was there and saw the damage. When confronted, they had no defense.

On top of that, they haven''t sent me my rental payment for this past month either! Apparently, someone else handles that, and she''s just as bad with getting back to me. I was supposed to receive the check last week and my mailbox is still empty. I''m getting really pi**ed about this. How is it that property management companies can get away with doing this stuff?!!?

Can anyone recommend a good property management company in the Austin, TX area? Please? I''m desperate!

 

[perry]

Cinderella:

There are 3 answeres to your inquiry:

First, good property management companies charge a hefty fee. They have to in order to do things right and make a profit. Did you shy away from the ones that "ate" more of the rent than this one?

Second, their is a reason that this one seemed such a good deal (see item 1).

However, you might do a lot better if you were to let "Cinderella & Company" manage the property. It will certainly be an eye opening experince.

I wish you best on this.

Perry

ps: find a college student who will do routine chores for free rent; and hire a part time maintencance person.

 

[bookworm21]

Thanks Perry. I realize that now. All I''m doing is waiting for the contract to expire and I''m taking my portfolio somewhere else. As for managing the properties, they''re out of state, so it''s kinda difficult. *Sigh* I guess I''ll just have to ride this out until termination of the contract.

 

[perry]

If they are not performing you may be able to claim that they defaulted on their contract and move forward now. I't be worth running this buy a lawyer.

Also, Look for a local management company. Check with the BBB, and chamber of comerce for recomendations.

Perry

 

[movie zombie]

in real estate classes i''ve taken it was always brought home that while real estate is the best way to financial success, it is unwise to buy rental property outside the area in which one lives for the very reasons stated re this property management company. the bottom line is that no one watches over your $$$$ better than you do, and that includes your property. in your case, it appears the company has taken the ''out of sight, out of mind'' attitude towards your contract and your property. i agree that running this by an attorney who specializes in real estate would be worthwhile

good luck.

peace, movie zombie