Landlording & Rental Properties

A Rental Property Management SNAFU Story

Expertise: Real Estate Marketing, Personal Development, Real Estate News & Commentary, Mortgages & Creative Financing, Real Estate Investing Basics, Landlording & Rental Properties, Flipping Houses, Personal Finance, Business Management
301 Articles Written
I’ll get into more details at another time, but I thought many of you would be interested in this situation . . . I have a few multi-family properties out of state and have used a management company to operate them. To date, this company has done a phenomenal job managing the properties, but earlier [...] View the full article: A Rental Property Management SNAFU Story on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of How to Invest in Real Estate. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it accessible for everyone, regardless of income or education. Today, BiggerPockets is the premier real estate investing website online with over one million members and reaching over 70 million people with the message of financial freedom through real estate investing. Joshua, along with his wife and three daughters, make their home in Denver, Colorado, and spend any time they can traveling, exploring, and adventuring. Read more about Joshua’s story in 5280 and Inc.com.

    Mark
    Replied over 12 years ago
    A law mandating 30 day notice WOULD make perfect sense. All you’re doing with this post is reinforcing my mortal fear of owning rental properties. If you can’t count on the management company, you’re right back to losing sleep over your portfolio! Scary.
    Joshua Dorkin
    Replied over 12 years ago
    Mark – It is a legitimate fear that you have. I highly recommend purchasing properties close to home so you can keep a good eye on them. Once in a while, however, when you get your hands on a deal, you have to go with it. Unfortunately, I’ve found myself in an ugly situation, but I expect things to work out. If I were unable to find someone competent to run the properties, I would just have to swallow it and sell.
    zune
    Replied over 12 years ago
    Fortunately my grandpa is a real estate broker so I can trust him.
    zune
    Replied over 12 years ago
    Fortunately my grandpa is a real estate broker so I can trust him.
    zune
    Replied over 12 years ago
    Fortunately my grandpa is a real estate broker so I can trust him. Reply Report comment
    zune
    Replied over 12 years ago
    Fortunately my grandpa is a real estate broker so I can trust him. Reply Report comment
    NM real estate
    Replied over 12 years ago
    What a terrible thing to do. Even 30 days notice would barely be enough, but at least it would be something.
    Angie
    Replied over 12 years ago
    Wow. I can hardly believe anyone who fancies themslef as a professional would even attempt a close out like that. You were given mere days to find a new rep? I can hardly wrap my head around that.
    bill
    Replied over 12 years ago
    When I first got into the business I worked for a property manager. After two years, one day the FBI walks in and arrests the guy sitting next to me. Apparently he had been submitting fake repair invoices to the property owners and fake lease agreements to the company owner for $100 per month less that what was actually being collected. He made out with about $450,000…blew it all on gambling.
    bill
    Replied over 12 years ago
    When I first got into the business I worked for a property manager. After two years, one day the FBI walks in and arrests the guy sitting next to me. Apparently he had been submitting fake repair invoices to the property owners and fake lease agreements to the company owner for $100 per month less that what was actually being collected. He made out with about $450,000…blew it all on gambling.
    Joshua Dorkin
    Replied over 12 years ago
    It has been mind-blowing for me as well. Interestingly enough, one of the managers actually called to apologize. I was actually thrown off base. What do you say to someone after that?
    Joshua Dorkin
    Replied over 12 years ago
    It has been mind-blowing for me as well. Interestingly enough, one of the managers actually called to apologize. I was actually thrown off base. What do you say to someone after that? Reply Report comment
    Joshua Dorkin
    Replied over 12 years ago
    It has been mind-blowing for me as well. Interestingly enough, one of the managers actually called to apologize. I was actually thrown off base. What do you say to someone after that?
    Joshua Dorkin
    Replied over 12 years ago
    It has been mind-blowing for me as well. Interestingly enough, one of the managers actually called to apologize. I was actually thrown off base. What do you say to someone after that?
    Dyllan
    Replied over 12 years ago
    I am not only a tenant of the former Whitener Flynn Properies, but also a family member, and there was no mention of this close out to me or anyone else. I feel bad for the owners of the properites, and I am quite concerned myself as I feel I will more than likely get screwed by this transistion. If it helps, my building has been taken over byAllied Realty Group Inc (7190 Manchester Road, Saint Louis, MO 63143 (314) 647-0055). Maybe this company won’t fold on you in a matter of hours. Good luck!!! Reply Report comment
    Dyllan
    Replied over 12 years ago
    I am not only a tenant of the former Whitener Flynn Properies, but also a family member, and there was no mention of this close out to me or anyone else. I feel bad for the owners of the properites, and I am quite concerned myself as I feel I will more than likely get screwed by this transistion. If it helps, my building has been taken over byAllied Realty Group Inc (7190 Manchester Road, Saint Louis, MO 63143 (314) 647-0055). Maybe this company won’t fold on you in a matter of hours. Good luck!!!
    Joshua Dorkin
    Replied over 12 years ago
    Dyllan – Thanks for your comment. It turns out that things are starting to look much worse then previously thought. I’m still awaiting monies owed me, I’ve heard from several tenants the WF was negligent in operating my property, and I found out from a vendor of the company that they are owed money as well. More to come . . .
    Dyllan
    Replied over 12 years ago
    I believe that Ann S. was the office manager for Whitener Flynn. And while I do not think I live in one of your properties, what you have discovered about the lack of maintanence is correct, I was with out gas or hot water for almost a week while I waited for WF to take care of the leak, and my paint is still peeling! There was also an issue with maintanence crews entering my unit without notice and my belongings leaving with them, now if this is how family gets treated, imagine a regular tenant. I will keep up on your story and see if I have any more info to pass along. Again, good luck!
    Sammy Cingular
    Replied over 12 years ago
    30 days notice is a minimum in my mind. Less than that is criminal.
    Sammy Cingular
    Replied over 12 years ago
    30 days notice is a minimum in my mind. Less than that is criminal. Reply Report comment
    Sim
    Replied over 12 years ago
    I also didnt get enough notice from Whitener& Flynn properties. Still looking for a management company in Saint Louis area. I have interviewed few managers and they are just charging a lot Any ideas would be appreciated Sim
    Sim
    Replied over 12 years ago
    I also didnt get enough notice from Whitener& Flynn properties. Still looking for a management company in Saint Louis area. I have interviewed few managers and they are just charging a lot Any ideas would be appreciated Sim
    Keith Schellhardt
    Replied over 12 years ago
    I’m sorry to hear about your unfortunate experience and I trust that things wotk out for you in a short period of time. I am not a licensed Property Manager, however I have provided buildings and ground maintenance management on both “contractual and direct-hire” status to property management companies and private owner’s of both residential and commercial properties. If I can be of any assistance to you or the other individual that were affected, please contact me at (618) 660-7364. You can learn more about what I do by visiting http://www.schellhardt.com Good luck! Keith
    Keith Schellhardt
    Replied over 12 years ago
    I’m sorry to hear about your unfortunate experience and I trust that things wotk out for you in a short period of time. I am not a licensed Property Manager, however I have provided buildings and ground maintenance management on both “contractual and direct-hire” status to property management companies and private owner’s of both residential and commercial properties. If I can be of any assistance to you or the other individual that were affected, please contact me at (618) 660-7364. You can learn more about what I do by visiting http://www.schellhardt.com Good luck! Keith Reply Report comment
    Thomas
    Replied over 12 years ago
    My name is Thomas, I have been in the property management business for 7 years in St. Louis and I have never heard of such a thing. To close in 1 days noticed is unreal. I’m sorry to hear about this. They shouldn’t be in business anyway. If you need help 314-713-4538. Thanks, Thomas
    MICHAEL WIGHTMAN
    Replied about 12 years ago
    My heart goes out to all those affected. I have been in the business for over 10 years. Our office is at 3611 Meramec in the 63116. We do not charge management fees, but we will get your places rented. Anyone needing help please feel free to call me at 314-566-8368. or check out our web site :www.RECONNECTREALTY.com Michael Wightman Leasing associate Reconnect Realty
    MICHAEL WIGHTMAN
    Replied about 12 years ago
    My heart goes out to all those affected. I have been in the business for over 10 years. Our office is at 3611 Meramec in the 63116. We do not charge management fees, but we will get your places rented. Anyone needing help please feel free to call me at 314-566-8368. or check out our web site :www.RECONNECTREALTY.com Michael Wightman Leasing associate Reconnect Realty Reply Report comment
    Shawn
    Replied almost 12 years ago
    No matter what industry you’re in that doesn’t seem like a right thing to do or even be able to do.
    Shawn
    Replied almost 12 years ago
    No matter what industry you’re in that doesn’t seem like a right thing to do or even be able to do. Reply Report comment