Is Knox Financial the Real Deal?

Question

Curious if anyone on the forum has had any issues with using Knox or know anyone who has used them? Call me old fashion but it feels like not everything can be done to professionally manage a property from Boston (Knox HQ). Cant find any information on whether they have regional field agents or sales people.

Also have found zero reviews on Google from the landlord/owners point of view. Makes me wonder. Their system and idea sounds amazing but wondering if its more difficult to execute especially since I live in the midwest. I assume they are starting their service networks in larger markets.

Nicholas F. · Answer

They are now trying to remove a review I posted on trust pilot. Stay away

Lien Vuong · Answer

I know from the network and they're definitely the real deal managing properties all over the states with largest market share in the North East. Shame on them on lack of reviews but founders are former start up guys who have a lot of experience in building new companies and have the expertise in real estate to execute this plan. Perhaps try the BBB if there's any feedback on there? Additionally ask for references and other clients they manage would help build credibility.

Danny Kirschner · Answer

@Ryan Banfield Geez, that's unacceptable of a property manager. Sorry to hear that happened to you.The bad: In my experience with them, I terminated the contract last June for one property, and 4 days later had a report of a broken fixture that led to a 30k insurance claim...I can't prove they are at fault in any way. I don't claim that they are either, but it's just interesting timing...the tenant was out of town for ~ 2 weeks. Perhaps the property manager should've known that and done routine checks on the place? That's what I would have done.The good: their accounting team is responsive and professional. They found me a decent insurance company. They have a fancy website (used to? Did they change company names? http://knoxfinancial.com/ cannot be reached. That is shady...)------------Yea I agree with the general sentiment of current and former Knox clients, stay away. It was insanely difficult to get through to them and get anything fixed, or to get actual good prices on any services or products. Tenants were pretty peeved by the difficulty of getting anything fixed.Find a good local property manager who knows your area, caliber of tenants, and can respond within an hour, not days.

Nicholas F. · Answer

Terrible company, stay away.  Deceptive Advertising.  I had 2 properties that I signed up to let Knox Financial manage in Boston since 2019. It was a terrible experience. Emails and calls are rarely answered, it would take many and frequent follow ups to ensure anything was done. Your questions will go unanswered if you do not follow up, and any request for receipts or documentation will not yield anything. They had the audacity to give me an invoice of work done that contained one line "repairs". Why do I need them if I have to follow up every maintenance request to make sure it was done properly, why have them manage the property at all, especially when the take a percentage of fee every month.My problem is not unique, if you search in google maps, there are so many negative reviews. Because their recent reviews were so bad, they renamed their business to 3P property services so they can hide them. But you know its them because of the response by owner "Knox team".  Here is the link goo.gl/maps/F71cC8Wp3CUu…  You can also see that there is a recent review that is fake - this guy reviewed a place in Canada, Maine, all at the same time.  Buying fake reviews now.Further, as I looked at my owner statement, imagine my surprise when I saw I was billed by 3P property services.  This is especially infuriating because they claim on their website that they do not mark up maintenance fees.  But little do you know that they own 3P property services, and use them to deliver exorbitant maintenance fees.  My statement clearly shows that 3P services charged $325 for a turnover of the property when a year earlier, a third party charged $160. The list goes on as to the overcharged items.  Several hundred for a door knob, several hundred for the toilet, several hundred for the sink.  Their goal is to keep these under $1000 so they do not need your approval and keep spending your money.They do not have your interests at heart.  A poor job done by a contractor is ignored, and their solution is to hire more contractors to fix the same thing, incurring expense after expense without regard to wasting money.  This is because they earn money with contractors, so they want this to happen.  They make money when you spend unnecessarily.  They hired a contractor to replace a drywall, but for 1000, I got a partially replaced drywall that was not even sanded.  And yet they wanted me to pay the contractor to go back and fix it.  I ended up just hiring a person on my own and finished their subpar job.  Also, their quotes for painting is at least 50% more than a random quote to a painter that is fully licensed and insured.  They rip you off if you do not look.Lastly, I terminated my contract with them because of this poor service, I paid their management fees before I realized it was such a disaster.

Lien Vuong · Answer

Yikes, okay.

Nicholas F. · Answer

Hi Lien, both properties are in Boston, so there is no excuse.

Lien Vuong · Answer

@Nicholas Fok Wow! Thanks for sharing this experience. I have heard about them and have walked by their office on Newbury St many times. Appreciate you sharing the candid experience here. Out of curiosity, can you let me know what areas were your unit in? Wonder if it was too far of a distance for them to manage properly.

Laura Brown · Answer

I’m also curious about Knox and it’s been a little over year since this was last discussed here. Hoping there might be some new experiences from other members to share. Even a year later there are some but, not many, public reviews/discussions about Knox as a PM.

Hunter Perry · Answer

@A.K.

@A.K. Reddy Thanks for reaching out. I do work for Knox Financial. I am helping with our expansion around the US (which includes our Tampa expansion!) I'd love to connect to share more. We have a handful of client reviews on Google (just google Knox Financial to view). Looking forward to connecting soon.

Is Knox Financial the Real Deal?

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