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General Landlording & Rental Properties

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Robert Steele
  • Investor
  • Lucas, TX
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Is this a shady property manager?

Robert Steele
  • Investor
  • Lucas, TX
Posted Aug 5 2013, 09:31

One of my tenants, who is a landlord (I actually have two separate tenants that are landlords) - go figure, is a bit of newbie and has signed a 5 year contract with a property manager that is not living up to expectations. She asked me for advice but as I have never used a property manager I thought I'd pass it on to you guys.

She owns a newer largish house in a nice neighborhood. She has a good tenant. Her problem is that she has spent $7-$8K in repairs for each of the last two years.

She has asked the manager for receipts but he refuses to give them to her stating something like "these are my guys so the receipts are mine", whatever that means?

So she got a home warranty recently and told the property manager that for all repairs greater then X dollars he must use the home warranty company. That way she can keep tabs on the cost. He was very upset about this and told her it was a bad idea and kept telling her to cancel it.

She would get rid of him but is concerned about the 5 year contract. The funny thing is when my broker did some research on this property manager we found out that he isn't even licensed and in Texas I'm pretty sure you have to be a licensed broker (not just Realtor) to conduct business as a property manager.

What advice would you give?

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