This is my second post. Thanks for the feedback on my previous post.
We have a rental house that was purchased thru Morris Invest, the property is located in Detroit MI.
We purchased the house in March/April, and up until a couple of weeks we had no idea what was going on with the house. We were told the house was undergoing renovation and it would be leased after completion.
well, after a few emails and the assistance of one of BP members we found out the house is actually occupied.. The information we have from the PM is that they have attempted to contact the tenant to transfer the payment to them. Not sure if this means the house was rented previously or not, meaning that since we purchased the house we have yet to receive any payments.
We tried calling "our" Pm company several times, as well as email but the person rarely replies. We have a contract with them. Can we terminate the contract with the PM company and how do we get our money?
Not sure if anyone had this experience working with Morris, but any information on what to do to go about this issue. This is our first investment property and we are definitely learning a lot.
Thanks for reading
Originally posted by @Leon Li :
Morris invest sounds like a turn key provider, is the PM company Morris invest or is it with a 3rd party? I personally have no experience with Morris but most turn key company should be responsible until the property is closed and rented out. Best bet is to reach out the Morris Invest and get a different PM. Otherwise sounds like you should get out of the deal with Morris, have you done research on Morris, theres alot of bad turnkey companies out there.
At the time we did not researched much about the issues with Morris invest. The PM company was recommended by the Morris team, and we agreed to work with them. The property is closed and apparently rented out for how long we don't know.
I strongly suggest that you search "Morris Invest" in the forums. There have been lots of issues with them.
Biggest crooks in the industry right now
@Helder M Da Silva Santos you’ll want to look on the threads here for other Morris threads.
As far as getting your money, it’s likely gone. You will probably have to sue.
I’d get with a lawyer that’s helping other Morris victims
I hate hearing about people being taken advantage of, and especially where I live and work. If there is anything I can to help you I’d be happy to assist. I’m in Detroit everyday and would be happy to drive to the property, attempt to help you find the “pm” etc....and help you have a better experience in Detroit. It is really upsetting that this continues to happen! @Helder M Da Silva Santos
Thank you for the comments. I now know about Morris. Does anyone know if we decide to work with a different property management company if they can take over our property since the one we have right now has not done anything to collect rent?
I'm sorry about this entire experience. I've heard about this too much. If I were you, I would find another property management company to work with. Michigan Property Managers is pretty good in my opinion. Once you find a Property Management company and sign a contract. I would cancel and terminate the current property management contract. You should send an email canceling your contract. At that point, the new Property Management should reach out the tenant in regard to a payment. If you provide them with the necessary information, they should be willing to start paying. If not, the Property Management company should send a 7 day notice and proceed with an eviction. Most times, the tenants know who the Property Management company is and they should start paying.
Wow, this is crazy @Helder M Da Silva Santos , I'm sorry to hear this. Who is the PM that is managing your property? If the PM company is partnered with Morris and the tenant has been working with them, this could be a tough situation of trust and responsibility. I know a good real estate law firm in the area as well if you want help going that direction. I'm not familiar with Morris either, but sounds like a class action lawsuit is in order...good luck.
First off, truly sorry to hear. Hope all works out in time. I just wanted to acknowledge it is nice to see all the help from the BP community in situations such as this
Thank you all for your time and answering my question. We will try to contact the company one more time. It's called portfolio property management. And if nothing changes we will get in contact with a different company or if we find anyone in the area who wants to manage our property. Thanks
Hi @Helder M Da Silva Santos . I have people in the area that may be able to help, at the least drive by your place, you can PM me if you want to talk more. Good Luck!