FYVE Management System - ever heard of them?

Question

Hello all! Has anyone tried FYVE Management for property management? I think they're only in about 11 states so far but their prices seem too good to be true. $200/mo management and it covered everything you'd want with no turn over/tenant renewal fee. Seems pretty cheap to me...I can't find a ton of reviews on them but their website looks professional, customer service was helpful answering questions etc...and there's a 30 day guarantee for tenant placement and also to get out if you don't like their services...Any insight? I'm a skeptic by nature so I am hesitant.

Brenda R Sullivan · Answer

I live in a condo in Glendale, AZ. We hired them to manage our community. This was the biggest mistake we ever made. Homeowners would call and get no responses at all. We couldn’t even get them to send out parking passes or clickers for the gate. It was just one thing after another with these people. I am the treasurer of the HOA and was rarely able to get financials before a meeting. They are a nightmare. They's say that they would do some and 3 months later, still nothing done. We have finally gotten rid of them and now we can't get our monies from them. We are ready to engage lawyers and take them to task! Stay away from this company. I’ve seen some bad ones but this company is the worst.

Marc Wisner · Answer

I use them in Nashville. They bought out a local couple/friends who managed my properties, who I LOVED. Fyve immediately let go of most of the employees (the opposite of what they told when buying in) and massively underinvested in the area. Seems like a typical company acquiring at a rapid pace and then centralizing everything to reduce cost at the expense of their customers. After going years without worrying about anything, I'm having to spend more time than I should babysitting. Frankly I don't trust them - which is the most important thing obviously. Recently they've added a few people and things have gotten a bit better, so maybe it's turning around. But i'm one of those in the camp of 'I should have transitioned already, but I just need to get around to doing it.'

Holly Barrett · Answer

@Jessica Long following, I have a client entertaining them. Anyone out there use them?

Daphne Goodson · Answer

Hi Jessica, I sent you a dm just wanted to know are you happy with FYVE?

Drew Sygit · Answer

They are most likely using offshore remote workers, who may not really know what they are doing. Many PMC's have tried this approach and flamed out.