Chicago Property Management Company

16 Replies

I'm looking to see if anyone has worked with or have any experience with Letts Property Management from Chicago? I haven't been able to find a lot of reviews on them and those I have found haven't been very positive. Just curious to see if anyone on BP has worked with them.

Thanks in advance for any responses.

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

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Hey @Richard Pace  , @Mark Ainley  , I currently use Letts, but would like to give them the boot. When you two finally did get rid of them, who took over? are they any better? I need a full service PM that can serve a 2 unit near austin/290 and could handle things if I were to be out of state.

@Brandyn Duff , hey still locked into a 1yr contract. although there is a 6 month exit, i will ride it out ... not ready for a headache. just would will be keeping my eyes open for when the day comes....

I currently use Lett's Property Management to manage over 100 rental units as of July 2015.  We are adding about 10 new units to their management team every month and so far they doing an excellent job.  It's hard to judge a management company over one unit meaning if an issue pops up it's easy to say a PM company is bad when they are really not (especially if you are a single rental unit owner like the people above in this forum).  I can tell you having over 100 units managed with Lett's that they do a great job and would recommend them to any investor in Chicago or out of state.  What i like most about Lett's is they are very timely on work orders and provide excellent customer service to both tenants and owners.  Preston and Amber are awesome at training new owners on their software system and if a problem pops up these address it immediately.  Having owned a property management company in the past i would give Lett's 5 stars on investor customer service, 5 stars on tenant customer service, 4 stars on maintenance, 4 stars on pricing (5 best and 1 worst).  I know BP doesn't have a rating system but if they did i would give Letts Property Management 4.5 Stars out of 5 Stars

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 there everyone, 

  Even though there's a bully on here trying to keep people from saying positive things about Letts, I am going to speak my mind. I decided to start investing in property at a young age and had absolutely no clue how to be a landlord. I was terrible. I had to get some help and I called Letts. They have been great to me. I'm always able to reach them and my tenants are very happy with them, so that's all I need to know to keep them. 

  I can't understand why you would go out of your way to tear down another business Richard. Perhaps they had to let someone go or there was a management change. I'm not the kind of person to say I don't believe a review, like you, but I am the kind of person who will speak up when I think someone is being treated unfairly. I have not had a single bad experience. They really got me out of a jam and I am grateful. 

I couldn't be happier with them as well. My husband and I are retired and we're really comfortable with Let's Property Manage. They're great with our tenants. We're able to relax while they oversee everything. No issues at all. Glad to endorse them.

My parents and I own a few rental properties that have become a little challenging to manage.Instead of making money we have been losing tons of money because of all of the problems.We have been experiencing a bad tenants and quite a bit of damage to some of the apartments.It has been a little frustrating.I have had to take off of work to try to handle some of the issues which has been a little stressful.My colleague recommended I contact Letts Property Management.This was one of the best referrals I have ever received.They are excellent.They have been managing everything.They helped us with the tenant selection which was a blessing because we had tons of problems because we kept choosing the wrong tenants.They also took care of the damages and kept on top of the rentals.They took care of everything.My parents and I now have a piece of mind.Letts Property Management allows us generate a stress free income from our property.I would highly recommend them.

I would just like to say that it's always refreshing to see a string of first posts from new users praising a company under fire. How serendipitous that a thread about their preferred property manager popped up the same day they discovered Bigger Pockets!

Originally posted by @Keith Anderson :

I would just like to say that it's always refreshing to see a string of first posts from new users praising a company under fire. How serendipitous that a thread about their preferred property manager popped up the same day they discovered Bigger Pockets!

Glad to see I wasn't the only one who noticed this...they must have some experience in trying to manage their questionable reputation.

I was recommended Letts Property Management from a longtime friend. Their staff is incredibly dedicated and responsive. Before I chose them to manage one of my properties, I must have asked them 100 questions. The staff remained polite, supportive and professional.

Once I decided on them, I quickly realized how reliable they were. I have yet to be disappointed by their services and staff. They offer competitive prices and found that they are actually quite a bit cheaper than most other property management companies.

If you’re looking to hire a property management company, I highly recommend Letts Property Management. They’re professional, affordable, and most importantly reliable. Using them has saved me a considerable amount of time, stress and even money.

Thank you again for your amazing work. I’ll be recommending you to all my family and friends!

Originally posted by @Richard Pace :

Justin, we own 28 units in Chicago, and unless a miracle struck Letts, I doubt if your post is true. 

 Ok Richard I called Letts to ask them about your posts... It seems there are two sides to this equation. Unlike you I'm not going to slam you as a person on BP as the information I got about your portfolio explains a lot. I'm not friends with the owner of Letts ... I have met Preston in person no more than 5 times in my entire life. So Richard I suggest you try and be positive in life and take ownership of your own actions.

I inherited some property in another state and I just couldn’t take the time to keep going there to check on things. My cousin referred Letts Property Management to help me keep things up. I’m sure glad I followed her advice. First I never even knew that there was a company around who would be able to help manage this property for me without me being there and second they are doing an awesome job. They have been trustworthy and professional. I don’t have to worry about anything and they have been able to advise me on what I need to do. Great Choice.

I know this post is old, but I found it highly unprofessional that a property management company (Letts) would discuss another customers portfolio status with another customer (Justin).

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