This Week: Firing My Management Company, $13k Foundation Issue, and Tenant has NO Hot Water for 3 Weeks!

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About a month ago I got off the phone with Brandon Turner after speaking with him at length about blogging on Bigger Pockets.

Seriously people, I think I fist pupped doing 80 down the highway, turned the bluetooth off in my TL, and then rolled the windows down and turned the “workout” spotify playlist to 11. See, I love Real Estate.  I love Blogging.  I’m a happy guy.  And I had written a few posts on my little BP site and sent them over to him, and heck, he thought they were all right!

Pretty sure I said something like “well sure, Brandon, I can write some stuff about real estate, about cool deals I’ve done, crazy maggot infested houses I have bought, that deal I made $18k in a few hours of work with no money, and that millionaire investor mentor who changed my life” … I could go on and on with the depth and breath of idea after idea I have penned in my iphone note section.

The ideas are there… no really, I mean it.  I sat down at the dining table, put my preverbal writer hat on, my coffee cup in hand, and my pulsating #getfiredup and #youcandoit music on (everyone gets fired up with some hashtags right!?) … and seriously, time after time of a few sentences here, a paragraph there, and all I kept thinking was ….this post is seriously the MOST horrible real estate blog post, in the history of the world.

Why You Ask? I’ve Had the Month of Real Estate FROM HELL.

Rental Property 1:

Tenants had AC issues, had to have AC checked twice in two days, tenant hadn’t been changing the filter, and no one had called me from management about the issue or the charges, or dealing with the tenants (against agreement)

– tenants called about crack in wall and say”could be foundation issue”

– refinance completed  on property to put on new roof, and paint exterior, and request most current lease from rental manager to submit to the bank

– management company “can’t find lease” and sends out lease to tenant for new copy, therefore finding out the property has been in a month to month tenancy for 15 months and not the 12 month leases as agreed in our management agreement

– tenant argues he will not sign lease until “foundation” issues are completed

– bid comes in for foundation, property (on a slab) needs THIRTEEN THOUSAND DOLLARS OF PIERS – supposedly 22 of them, because the gutters have not been cleaned out for YEARS.  “They are growing trees” my painter says.

Related: Warning: Hoarder House Ahead! (With Pictures!!)

Rental Property 2:

Purchased home in May 2014 after selling one (bought the “sold one” for $34k, $4k in initial make ready, rented for 12 months @ $900, put $4k into it, sold for $60k in 15 months)

– completed make ready in 3 weeks on budget, a little behind schedule

– turned over to management company for utilities, renting it out

– took more than 2 weeks to get utilities “turned on”

– tenant placement took about average, 3 weeks, $795 rent on a $26k house, $3k make ready (working class neighborhood, Kansas City, KS)

– go to turn on hot water heater, and discover management hadn’t gotten gas turned on during the “turn utilities” section from above

– gas line fails pressure test, “has multiple” leaks

– I discover the 220 line for the electric range I just got a killer deal on from craigslist, well … no 220 line.  Bids for new line $1k (… insert word here) … buy new gas range for house … with no working gas…

– plumber #1 comes out, does line test, it fails, “try’s” to find leaks, fixes 2, and charges me the cost of … lets say, a llama, management company says plumber couldn’t find leaks, replacing gas line is $1300  … other bids come in at $1600 and $1900.

– tenant moves in two weeks from now, I leave for my brothers wedding … management has it covered

– I call after returning … management doesn’t have it covered

– plumber #2 does another line test, finds multiple more leaks, and can fix it … cost: let’s say, another llama

– at this point renter has been moved in because line was “fixed” and gas will be turned on Monday, tenants are “cool” …

– come to find out, plumber #2 can’t pull permit with the city, have to call plumber #1 back out to confirm line holds pressure, and bring city inspector out (now I could be a full blown llama farmer … ps … not sure where the whole llama thing came from but I’m going with it)

– plumber #2 leaves his gauge on the line to show it’s holding, city comes out but won’t turn on gas because gauge is still on

– I have a “discussion” with management company… it goes out and removes gauge (finally, the gas will be on … tomorrow)

– city comes out next day, tells tenant the gas can’t be turned on because the rest of the line and meter aren’t connected (so, yeah, gas not on tomorrow)

– plumber #3 is called because they will be out “quickly” … not quite llama cost, but … you know …

– weekend “emergency” call from tenant, has some water issue with toilet, can’t figure out how to shut off water, and have to send out plumber to fix water, clean out drain, and send out water remediation folks … seriously …

– Hot water heater isn’t turned on while management company or city is there because has a “drain” pan issue … whatever that means, and tenant, although now has gas … still doesn’t have HOT WATER. #yesIAMLIVID

Thoughts:

I have been in real estate for just shy of 9 years.  This is the second worst month I can remember.  The first, I lost a million dollars of real estate (I will talk about that another time.)

After sometime soul searching, shaking fists (not like the whole windows down and tunes blazing as stated in first paragraph) and gut checks, I made the call.  You see, about a month ago I had started making calls and doing research around town looking at different property management companies because I have started to get uncomfortable mainly with the lack of confidence, the lack of communication, and the lack of follow up, from my management company.

I made the call. I spilled the beans, literally, everything I could remember, the issues, the nightmares, the no call backs, the complaining to ME about basically doing their job, to this new management company. It just so happened that my sister uses them for her rental, so they came highly recommended.  They have more staff, and less properties under management.  They return phone calls.  And I was in a seriously bad situation. #ijustwanttoscreamatsomeone #realestate #amithisdumb

I should have known this was coming for a while, and you know, several years ago I could have made this change.  And I should have.  But we can always look back and see the path we chose, and where we went the correct direction, and where we chose incorrectly.

The fact is, these guys were cheap.  Real cheap.  And for years I have gotten the rent, had very little issues with maintenance charges, and I rolled with it.  But in the heat of the real issues, when it was time to make decisions, communicate issues, and resolve problems, they simply failed.  And I failed myself. And I lost a lot of money this month. To nothing.  Might has well of thrown it down the toilet.  Given it to someone who needed it.  Anything, but this crap.

When I look at it today, I still don’t know the extent of the foundation issue, my tenant in house #2, hopefully finally has hot water as of tonight.  I couldn’t be more embarrassed and frustrated for them.  They paid, they put down their deposit … and then they waited. And waited.  And waited. By tomorrow (please God!) this will be resolved.

Take Aways from all of This:

1. A Great Management Company is Vital:

No matter what, if you aren’t managing your property, you need to know, for 100% certainty, that your manager is actually managing.  Looking after, and AT, your property.

There will always be little issues, little hiccups, but a manager who cares for your property knowing it is an asset.  And who understands the things that can wait (we can paint the exterior next year) and that need to be done now (a gutter that is growing TREES… )

2. Autopilot is for the Dead:

When your dead, you don’t have problems.

Until then, make sure, if it’s yours, it’s your problem.  For me, that means I would have been more diligent about making sure that the properties were cared for, that once the management company wasn’t doing their job, I fired them.  That the units as they were being rented, I looked at more carefully, during the entire process.

Listen, I am not suggesting that I don’t fully expect to take months of vacation to Europe, because I will be.  But I mean I’ve checked out for a long period of time, and that has cost me a giant pain in the butt, and quite a bit of money.

Related: The Importance of Doing Your Due Diligence: A True (and Almost Disastrous) Story

3. Listen to Your Gut:

I should have listened a while back, and fired the management company.  But I am a crazy loyal dude.  And originally when I came to them, they came to the rescue for me on my initial problems I had made in my first years of investing.  At the end of the day, this did nothing but prolong the inevitable. Don’t do that.

4. Get Over It. Learn From It. Move on. Get After It.

As real estate investors, we have to learn from our mistakes.  Some big. Some we get out without issue.  Some we pay for.  The biggest mistakes are the one we are least likely to forget.

As I mentioned earlier in the post, my wife and I lost a lot of property, but within just a year and a half of losing everything … everything we had, we bought our first rental.  I wasn’t afraid, I was smarter.  People couldn’t wrap their brains around how I would want to get back into investing, and I always told them the only terrible idea would be not buying more after having learned so much. Don’t be afraid.

Don’t get down on yourself. Just get smarter. Wise. A clearer vision of your business, your model, and hone your skills.  And as my orchestra director in high school used to say ( yeah, I actually am also a professional musician … more on that later too) …  “Don’t make the same mistakes … make new ones.”

So, here’s to new ones!

What are some of the biggest mistakes you’ve made, and what did you learn from them?

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About Author

Nathan Brooks is a dad, husband, worship leader, and real estate investor in the Kansas City market. Foodie. Coffee addict. Crossfit junkie.

50 Comments

  1. Thanks for writing this :D I find mistakes are often the best way to learn something deeply and make that lesson a part of yourself, and they don’t even have to be your own mistakes all the time. I’m glad you posted this for us to learn from :D

    • Nathan Brooks
      Nathan Brooks on

      Vamsi, absolutely. One of those moments we wish we didn’t have to deal with such a problem, but thankful to make the move and know the ship is now headed in the right direction. Thanks for reading!

  2. Rule number one when you hire a PM:
    1. Be ready and WILLING to fire them
    2. Do rule one sooner, than later
    There are ways to communicate with PMs that help. I have used Attorney Letters, Certified Letters and even threatened to critique them on Yelp, Angies List and Google Reviews. And I direct them to reviews I have written to show that I will do it.

    It works most of the time!

    • Nathan Brooks
      Nathan Brooks on

      Mike … you are right. Be ready, and pull the trigger. Like most things in real estate, have to know when to get in, and know when to get out. And sometimes, like me, you learn it the hard way! I haven’t left any messages or reviews at this point, but I definitely went out and read reviews and such on the new companies before even making contact with them. Thanks for reading and taking time to respond!

  3. Hello Nathan, thanks for sharing the realism that is real estate, I just finished a similar week, but I only have 1 property at this time…I’m not trying to write an article here, but it may take a while to get through.

    I started with a cozy townhome that was perfect for my bachelor pad. I bought it off the MLS at a reasonable price, not a steal. I upgraded it with nice stuff while I was there and 5 years has now gone by since I lived in it. It has barely paid for itself through rent, and actually had negative appreciation although its in the best school districts and area of town (which does leave a very low turnover rate).

    I recognize with a little more experience now, the mistakes I made…
    1) You make money when you buy
    2) Keep in mind when buying a future investment, that it is a future investment…not a forever bachelor pad
    3) Stop living in a dream environment when calculating numbers (BP guides are tough to fit into my local area, but I want to be much closer to the recommened numbers)
    4) Never depend on appreciation…Bought at ~$104K, comps at ~$103K almost 7 years later…
    5) Stay on target with your rents, do your homework and understand what a cut of just a few bucks could make over a 3+ time “re-signing” annual contract.

    These are just the start of the lessons I’ve learned. However, I’m not writing to teach, I am forever the student (which is why I love BP!), so I would greatly appreciate the help of your experiences in figuring out how/what to do next:
    Rental Income: $825
    Mortgage, HOA, Taxes: $737
    Equity after owning for 7yrs is ~23% (this was my first place and used a VA loan with 0 down).

    As you can see, there isn’t much room to pay maintenance or unexpected costs (just had the hot water heater start leaking and the replacement cost me $1200, which is 5 llamas?). Certainly not going to handle any length of vacancy from an annual perspective. Absolutely forget about having room to pay for a property manager, so I manage myself and drive 20 miles each way to visit monthly, or as frequently as I can. This year to date, I’ve paid out $1450 in maintenance costs (rough year, but I average about $600 per year on a 1982 build).

    In its current state, it’s a great tax write off, and my wife and I make pretty decent money. I should raise the rent since most places similar are about $25 a month higher…but my renters are LOW maintenance, and have been there 3.5 yrs., plus lease is good until April 15. In my City, the best selling market is early summer, I’m a little late to market to unload it and try again. Ultimately I’m at the 7 year itch, do I shake it off and continue on to pay off and await the supplemental retirement income, or do I sell, and look for a better deal?

    I think they call this the opportunity cost…there are so many better investments out there, but is it worth the sale to go after them? By my estimates, I could net $8-12K, which can buy plenty of great Cash Flow producing places…just not anywhere close to me.

    Thanks,
    Joe

    • Nathan Brooks
      Nathan Brooks on

      Joe,

      yes, sir … 5 llamas I believe it is! And thanks for continuing my attempt at that joke (rather laugh than cry right?)

      So here is my 2 cents. First, why are you holding it still? Write off … etc, whatever it might be. It might be a candidate to do a 2 year lease option to your awesome tenants, up their payment by $50-$75, let the principal get paid down, and plan to be out in a couple years. It’s not making money, I’d rather have to find ways to off set income/profit than have a write off any day.

      Someone also suggested a refinance … which I agree with in theory. Although if you are in a VA loan, basically upside down, I still don’t know how much that helps after paying for the refi and then recooping that cost.

      The hardest ones are the ones closest to us. So in this case, and specifically for me, when I get/or am emotionally attached to something (not sure if you would say you are or aren’t here … but just my feeling on the general matter) … I get out. When your emotional, you make bad choices.

      Another option would be go ahead and refinance, but put some cash into it so you aren’t paying any PMI or other fees on top … so say you put 20% into it conventional, you could have more cash flow … again, then you have a lot more cash laid out there.

      If the goal is to have it paid off in X years, and you can deal with the no cash flow right now, then you can sit. Otherwise, I say figure out how to grab a better cash flowing investment. Good luck!

  4. Nathan, thank you for this post. I have been there and done that with repetitive repairs. I’ve spent thousands chasing roof leaks before just replacing the whole roof, four times. Refinances seem to be the smart way to pay for those.

    I have been wanting to outsource the management, I’m in year three with ten properties/twelve doors. It seems there will always be the 80/20 principle when it comes to the “auto-pilot” but it’s never the same property from month to month. The easy self-managed properties are hard to just “give away” but my time continues to be a shrinking commodity.

    Aaaaand I am writing this from a Greek island, I timed my visit from the 12th through the fifth, so I will return to deal with the slow pays. I see that a solid and well paid management company would permit me to stay longer. (I’m staying with my in-laws).

    Thank you for some genuine, actionable content geared toward over achievers.

    • Nathan Brooks
      Nathan Brooks on

      Joe … thanks for replying! And a Greek Island … sounds wonderful! Totally agree with the 80/20 principal … and we all have to decide how much we want to “deal” with the day to day issues. For me, I just don’t, and I want to scale my business now accordingly so when I have 100 doors, I have already put myself in a position to continue adding, and its still scalable. Or who knows, at that point I might start my own management company.

      Safe travels!

  5. Dawn Anastasi on

    I do my own management, so the buck stops with me. But then again, I know what is going on with each property and don’t have people telling me one thing and doing another.

    • Nathan Brooks
      Nathan Brooks on

      Dawn … I know lots of folks who do that. For me I have other things I have decided to spend the time on, therefore I pay the money. Thanks for reading!

  6. Hi Joe

    There are a lot of variables that are unknown in your situation but something you may be able to do is refinance. Your interest rate from 7 years ago is probably much higher than you can get even today (even though quantitative easing by the Fed has been slowing). That could easily drop your payment by $100 or more depending on the specific numbers. Obviously if you refinance you pretty much force yourself into keeping the property for at least another 2-3 years, otherwise you just end up losing money due to the refinancing costs. Did you have to pay PMI on the original loan? If so then refinancing would remove that if it wasn’t already removed from your payment.

    This sounds like a single family home which, in my opinion, is harder to make profitable due to 1 rent having to cover all the bills. Plus you have HOA fees to contend with. So if you can’t refinance, which may be the only way to reduce some of your costs (eventually, after you pay off the refinancing costs themselves) I’d look for another property to buy, at least a duplex if not a tri-plex of some sort.

    Then the question becomes, do you sell your current property outright to pay for the new one, do you leverage the current one with a 2nd mortgage or do you employ the use of a 1031 exchange with the first one? The 3rd option is a little harder to make happen just due to the timing of events that the IRS enforces.

    That will be something you will need to talk over with your wife. If you want to completely offload the existing property then selling it (through a 1031 or not) may be the way to go in order to have cash for the next property. If you are happy with it from every perspective except the monthly profit then maybe it’s still a good one to keep (as a longer term investment) and then you can just purchase a triplex/duplex as your short-term moneymaker by leveraging the first one.

    Hopefully my advice gave you some points to ponder.

  7. Thank you for the article! Wished I read it 2 years ago 8(

    Because of workload and giving “second chances”, it took me over a year to pull the trigger, but finally I terminate them early this month. Lesson learned, cut your losses and move forward.

    Quick tip: Make sure you read the fine print on the PM Agreement, look for “Exit/Termination Clause”. Red flag, If there is a “Termination Fee”.

    • Nathan Brooks
      Nathan Brooks on

      Roberto,

      Wow, so sorry to hear that man! That’s crazy … you and I sound like we have learned the same lesson. Best of luck to you in the future!!

  8. Without reading any other of the comments or much of the blog, I can say in Philadelphia unless you own 30 rental units there is not such thing as a good management company.

    They are all incompetent. You would be better served depositing the rent into your account and giving 10% to charity the same effect would be had and you would gain a tax deduction.

    • Nathan Brooks
      Nathan Brooks on

      Dennis, although I have had that same feeling … I believe there are always solutions to meet the needs, we just have to be willing to do the work to find them. So for me, I just had to keep doing the homework until the right fit came along. I paid a little more, and they are a whole lot better (so far!).

      I guess its time to have those 30 doors right!

  9. Nathan, I’m not a big fan of managing companies to be honest with you. Its better to just have your own managing team. Trust is far and near as you can see it. The trouble you had is the hidden part of real estate investing most investors wouldn’t tell you about. Thanks for sharing bro.

    Antonio Coleman “Signing Off”

  10. It’s always funnier when it happens to someone else (she says, knocking on wood…). Thanks so much for sharing and giving us all a dose of realism. It sounds like you’ll pull through and hopefully your neighbors won’t complain of the terrible llama stench next door.

    Bonne chance!

    • Nathan Brooks
      Nathan Brooks on

      Wendy, keep knocking on that wood!!! And thanks for the kind words, and yeah … the neighbors haven’t started calling yet and the hashtag #llamaproblems hasn’t started to trend. Take care, thanks for reading and taking time to reply!

  11. The most difficult part of property management is maintenance & repairs!

    Many PM’s have no business doing repairs as they have no one on staff with construction experience. Without such experience (and real experience, not just taking a class) they’re totally at the mercy of contractors as they have no idea of which ones to trust and which contractors are lying, or worse, incompetent.

    One of the best points Nathan made was reaffirming the old adage of, “You get what you pay for.” As a PM it seems the biggest complaint we consistently hear from prospective owners is, “You charge too much.” The funniest instances are when an owner calls us and we get to hear the litany of complaints they have about their current PM, and then they ask us to lower our fees to match what they’re paying that same PM they just complained about!

    Now that you’ve set the bar so high on your first post, best wishes on your followups:)

    • Nathan Brooks
      Nathan Brooks on

      Drew … thanks so much for the kind words! Means a lot. Been a crazy couple weeks for sure, and you are so right with management. They have to understand it, before they can manage it. Have an awesome day!

  12. Nathan,
    I’ll be paraphrasing this for years to come “I always told them the only terrible idea would be not buying more after having learned so much. Don’t be afraid.”

    Half my properties are out of town and all are under management. I reach out to my managers weekly on average. I still need to refine my strategies with them though.

    Do you require inspections?

    Btw, excellent first post, I’ll be sure to look for your posts in the future.

    Jason

    • Nathan Brooks
      Nathan Brooks on

      Jason,

      Thanks so much for taking time to respond … and I am so glad to hear that you connected with that line. It was one for me I would get the .. blank I don’t understand stare back … but that’s ok.

      As far as inspections, do you mean inspections by property management into your units? Absolutely! Do I do inspections when I buy the rentals, absolutely.

      For me … the one take away for sure is I would have at least gone and done a drive by 1-2 times a year myself. So, that is probably something to think about. A sit down just check in with management, and potentially do the walk through with management on that visit to your units. Have an awesome day, and good luck with your rentals!

  13. Nancy E. Roth on

    Hi, Nathan,

    Your post could have come from me, except instead of a week from hell I have had a year. I finally fired them this month after giving them a ton of second (third, fourth, fifth etc., ad nauseum) chances. They always had an excuse for why they didn’t properly check the bona fides of the felon they allowed to sign the lease, or why the trash they generated during a repair in a tenant’s basement remained there for months, or why their inferior repair that I paid for didn’t stop the leak or make the shower turn on, or get the stove working.

    Maybe this is just a matter of personal style, but I really like knowing and communicating with my tenants. I also like tracking the condition of my properties, and making sure everything that goes wrong is addressed appropriately.

    Yet property managers see it as their job to prevent the owner from knowing the tenants and tracking what is going on with the properties. What this translated to was that I was constantly getting invoiced ridiculous amounts for sloppy repairs that often needed to be redone, or that shouldn’t have been charged for at all. For example, putting batteries in the smoke detector, which should have been done before leasing the property (bill: $135).

    Long story short: I don’t own multitudes of properties, so for now I am going to try my hand at managing my own, with the support of tenant placement services, rent court filers and solid contractors with whom I have good relationships.

    Someday when I have so many properties that I can no longer manage them effectively, maybe I’ll give PMs a second look. But I don’t see that coming for a long time, if ever.

    • Nathan Brooks
      Nathan Brooks on

      Hi Nancy,

      I am so sorry to hear your story. Those lessons are so hard (believe me … i am there with you too!) … I have managed properties myself before and just have decided its much better for me to find management than not. Either way, go with your gut, and learn what you can while managing yourself, and then you can have the best idea of how to hire that management for your multitudes of properties in the future.

  14. Thank you Nathan! I am sorry you had experiences that were not so great, but I do appreciate you sharing them with all of us. And a great BIG thanks for informing the readers about the Importantance of FINDING the right Property Management Co. Don’t neccessarily go with the cheapest one, but the one you feel most comfortable with. (We are out there!)

    Jennifer

  15. Wow, Nathan, sorry to hear about your horrible & expensive landlording month. Shame because although you had a pm on payroll they really never were. What a nightmare! As hard as it is to come by good pm this was a doozy to the 12th power. Another lesson for you should be ‘you get what you pay for’. They were cheap for a reason, apparently several reasons. GODspeed.

    • Nathan Brooks
      Nathan Brooks on

      Mary,

      Thanks so much for your kind words and empathy … I tell you what, I am just so happy to be out of the old PM and onto people who are doing such a better job. Tenants noticed it. I noticed it … so hopefully we are full steam ahead now! Thanks for reading and taking time to comment!

  16. Great post. I wish your stories were unique to you, but similar stories happen all the time with property managers. Often the manager is learning on your dime. And, they do not like to take calls either.

    • Nathan Brooks
      Nathan Brooks on

      Eric,

      I know … that really is the terrible part. But hopefully this will push other people dealing with situations they need to change, and motivate them to take action. Have an awesome day, and thanks for reading my post!

  17. Excellent post. I hear in the podcasts and from the blogs how bad so many PM are… how do they stay in business???

    • Nathan Brooks
      Nathan Brooks on

      Hi Ron,

      That’s a great question. Apathy, indifference, on the owners part (certainly mine was a large enough motivation to change … been with them for years) … and loyalty to what they had done years back before they had gotten much bigger. So many ways for us to say ” I will do it later … ” … but at some point, we have to be reminded its our property, our problem, and our investment … pay for it now or later! Take care and thanks for responding!

  18. Wow man.
    Sorry for such a tough time and such a useless manager.

    But hell of a first post and really appreciate your willingness to share the less glamorous side of the business (because most of it usually is lol :) ).

    • Nathan Brooks
      Nathan Brooks on

      Shawn … thanks man! It seems like there are quite a few people who have had this or worse experience, and its tough to deal with. But we are on with it … to better times with a better company. And thanks for taking time to read my post, and I sure hope to make them get better and better … there are definitely more stories to come :)

  19. Ben Leybovich

    Couple of things, Nathan:

    a. Welcome to the blog
    b. Brandon was right – you got chutzpah
    c. That’s not a bad week; perhaps a worm-up, but that’s that
    d. Don’t get me started on property management

    Nice job!

    • Nathan Brooks
      Nathan Brooks on

      Haha! Well Ben, I’ve appreciated your posts, skill, wisdom, all over the site here at BP. So thank you for taking your time to reply to my post… and you have an awesome rest of your weekend and week!

      And PS, I’ll take the warm up … good enough for me :)

      • Ben Leybovich

        Haha – sorry for the spelling error. As the Russki on the Biggerpockets blog I reserve the right to misspell…:)

        Nathan – you should write more content relative to PM. This subject is the biggest obstacle in REI. There’s a lot of “feeling” around it. You’ll do well drilling down on the fallacies…:)

        • Nathan Brooks
          Nathan Brooks on

          I thought the misspell was just an act of skill and pizzazz … seriously, with a last name like Leybovich (talk about potential spelling errors) … I think you get a free pass :)

          Look forward to your next posts!

  20. Wow, great first article Nathan! So sorry to hear about your PM issues and hopefully the new one will continue to be great! Oh, and love the llama analogy…

    • Nathan Brooks
      Nathan Brooks on

      Hi Michelle,

      Thanks so much for taking time to read my post … yeah, those llamas got out of hand :) And YES, I think this new PM has done more in the few weeks than my other did in years. We shall see!

  21. So much for management co. that don’t manage! I payed mine $600.00 to verify and qualify a tenant for my property. First 4 months of tenancy 2 late payments next 4 months no rent! I’m evicting her as we speak! Turns out she was being evicted from her apt at the same time the property management co. was placing her on my property! They did not verify her prior rental history neither of the 2 she provided, she has evictions on her record for both! They didn’t verify her income either! Did not require her to submit the 1099 Tax form that the application clearly states “REQUIRED” for all applicants! I’m evicting her and so far my losses are over $7,000. So what exactly did I pay a Management Co for?

    • Nathan Brooks

      Millie! I feel your pain … so frustrating. Just don’t be afraid to ask questions, ask for refunds, ask for credit … and fire people. They have to be working in your best interest. So sorry to hear that!

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