Long Beach, CA · Member since 2012 · 19 posts · 4 votes
Hi,
Does anyone have any good property management referrals? I am ideally looking for a medium sized company that is experienced in multi-family (30+ units), reasonably priced and knows the Cicero area well.
Investor · Chicago, IL · Member since 2014 · 5 posts · 2 votes
11y
Hi Elizabeth
If you want to remain in business, stay away from LETTS. Janet is a great person, but all she does is the PR. The back bone is very bad, and all they do is take their fee's, and run your property into the ground. We had first hand experience, when we gave them our 30+ units in Chicago. After five month numerous units remained un-rehabbed nor rented. When they finally got around to fixing up a unit, the work was very bad, and they charged us for items never installed or done. We found out when we surprised them by going to Chicago, and requesting to see the finished units. The chose is yours, but you have been warned. When we confronted Preston Letts, all he did was lie to our face. Also their contract has a clause in it that if after six months you are not satisfied they reimburse you all the management fees. We cancelled our contract and advised them in writing and requested the reimbursement in September 2014, which to date after numerous attempt, have not received. We are presently with Anton Asset Management, and although they are very business they are handling the properties much better than Letts. Hope this give you some insight. Good luck
Investor · Chicago, IL · Member since 2015 · 21 posts · 12 votes
11y
I contacted one yesterday called Letts Property Management and spoke to Janet. She seemed very nice and was very knowledgeable. I know they have a presence in the suburbs but not sure about Cicero. I don't know how their reviews are (would be good to check) and I will probably use a company that is more focused on downtown, but I was impressed when I spoke to her. You may want to look at the reviews of various property management companies on Yelp to see what others think of different companies.
Investor · Chicago, IL · Member since 2014 · 5 posts · 2 votes
11y
Hi Elizabeth
If you want to remain in business, stay away from LETTS. Janet is a great person, but all she does is the PR. The back bone is very bad, and all they do is take their fee's, and run your property into the ground. We had first hand experience, when we gave them our 30+ units in Chicago. After five month numerous units remained un-rehabbed nor rented. When they finally got around to fixing up a unit, the work was very bad, and they charged us for items never installed or done. We found out when we surprised them by going to Chicago, and requesting to see the finished units. The chose is yours, but you have been warned. When we confronted Preston Letts, all he did was lie to our face. Also their contract has a clause in it that if after six months you are not satisfied they reimburse you all the management fees. We cancelled our contract and advised them in writing and requested the reimbursement in September 2014, which to date after numerous attempt, have not received. We are presently with Anton Asset Management, and although they are very business they are handling the properties much better than Letts. Hope this give you some insight. Good luck
Investor · Chicago, IL · Member since 2015 · 21 posts · 12 votes
11y
We are interviewing a company called Urban Apple, a smaller company in Chicago. They charge a higher percentage but include basic maintenance and repairs as part of their percentage. They also have a reasonable cancellation policy if we are not happy.
Investor · Chicago, IL · Member since 2014 · 41 posts · 11 votes
11y
Richard is spot on with his description. STAY AWAY from Lett's PM. Everything he said is literally their entire business model: nickle, dime, lie, cheat, steal and no delivery. ever.. They WILL ruin your portfolio. Please tell me you have had a good experience with someone in the Chicago area because I need my first property to be properly managed, and my contract from hell with Lett's is almost over.
Chicago, IL · Member since 2015 · 13 posts · 6 votes
11y
Triview manages a condo I own. Not sure how competitive their pricing is but I've had very good experiences with them from a service standpoint. Needed maintenance on a few minor things and they responded to my emails promptly.
Chicago, IL · Member since 2016 · 1 post · 0 votes
10y
Take it from me a Letts Property Management tenant they are the worse ever! Stealing rent, accusing honest tenants of not paying their rent, letting tenants live in terrible conditions, no heat, no water, leaking ceilings, CONDEMNED BUILDING, while piling bogus charges on tenants accounts is unacceptable. If a company treats their hardworking tenants this way there's no telling what else they're doing. And they sucked the previous owner dry while not doing any work in the building right! She lived in California oh how I wish she would have paid a surprise visit! I'm in the process of moving and hopefully purchase property in the near future. If there's anything I've learned from this experience is how NOT to do business and treat my tenants. My family has been through a living hell. Stay away from Letts.
Hey guys, I know this is an older post but I just happened to stumble across it. If you're still looking for a PM company I'd love to discuss the opportunity with you. I run a small full service brokerage that specializes in property management in and around Chicago. Message me if you'd like to chat.
Property Manager / Licensed Broker · Evergreen Park, IL · Member since 2015 · 3 posts · 0 votes
10y
Please message me if you are still looking for a management company. I recently joined Erie Management Group in Chicago and am currently looking to expand our portfolio. I would love the opportunity to discuss managing your properties.