Is Ethosity Property Management still open? Owner payments not made.
I was using Ethosity Property Management for my duplex in Indianapolis. I sold the duplex and had funds still on my account with them. Both sides of the duplex were damaged by the tenants before they vacated and I was told via email that the security deposits would be returned to me. The security deposits were never credited to my account. Disbursements were rarely timely but eventually would come through. Ethosity closed my online account several months after the sale and did not make the final disbusement of the balance that was showing....much less the security deposits. In total I am owed around $2,500.
I've tried calling, emailing and texting and have received no response. I loved working with Melissa Davis (one of the owners) but I don't get a response from her or her husband Sterling Davis. Does anyone know if they are still in business? Do you have any suggestions? I appreciate anyone's help. Thanks!
#2 Managing Your Property Contributor
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#2 Managing Your Property Contributor
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File complaints with State AG and Realtor Board.
Hi Jennifer,
I am also an out of stater investing with Ethosity and they owe me almost $3000! They are not answering any calls, texts, emails, nothing... what a terrible way to do business. If anyone can send us more info about how to go after them, it would be much appreciated.
Thanks,
Victor
Greetings,
Has anyone had any movement or information regarding this topic?
We are also an out of state investor and we are having difficulty getting a response from Ethosity! I've not heard from them since February. Our ledger says that rental payments are still been added.
What steps can we take to solve this issue? Is there anyone in Indianapolis that can help? (drive past the office and see if it is open?)
Thanks!
Michelle
I wanted to take a moment to share my own experience with Ethosity and offer my support to those who may be facing challenges with their property management. While my experience with Ethosity wasn't fantastic, I never perceived Sterling or his company as thieves. In my case, the primary issue was poor communication, which ultimately led me to switch away from them.
I'm a former long distance, now local real estate investor here in Indianapolis. I've had various experiences with different property management companies, and I understand how important it is to have someone you can trust to manage your investments. Having been through similar situations, I'm here to lend a hand and help anyone in need of support.
If you're currently experiencing difficulties with Ethosity or any other property management company and need advice, guidance, or simply someone to talk to, please don't hesitate to reach out to me. I'm happy to help you navigate these challenges and find a solution that works for you and your investments.
Please note that I am currently on paternity leave and spending less time on BiggerPockets, but would love to help however I can.
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Quote from @Drew Sygit:
File complaints with State AG and Realtor Board.
I think you will want to file a complaint with the Department of real Estate in IN.. thats who handles trust fund violations.. AG is not going to do anything neither will the Board of Realtors.
I've not heard of them closing their doors but a lot of PM companies struggle with timely communication. As we've sustained growth of our company, we've grown our staff to adjust to it. Sorry to hear you've had issues, even you ever want to chat about switching please feel free to reach out.
Hi, I am Sterling Davis, the owner of Ethosity Property Management. Unfortunately, we have faced some of the same things as many small businesses coming out of the pandemic, labor shortage, unpaid rents, and rising costs. Ethosity has not been able to give the service we have been known for throughout the years. We have missed emails and phone calls from the demand of the clients we have serviced and the lack of manpower. I will be contacting each individual about each concern.
I understand how important it is and am looking to correct all matters.
-Sterling M Davis
I wanted to update that I did receive some of the money that was owed to me. Sterling emailed me to let me know that he would be issuing the payment. I let him know that there was still some items that were not paid. He acknowledged that it was true and that he would be making a second payment in a few days. That was one month ago. I have not received the balance and he is not responding to follow up emails. I just wanted to be fair and post an update...
I don't know if this is true, but the news I've received is that they are shutting down. If anyone needs help, feel free to reach out and I'd be more than willing to help think through transition plans (I've had to do it before). I'm not incented in any way by a PM... just know how stressful these transitions can be.
I received a payment as well for my missing rents with no message or correspondence from Ethosity. However, I was never informed if they did an inspection or not after the tenant left! There was significant damage to the property after tenant left and idid not receive any part of the deposit for the damage.
Victor
I received an email from Sterling to say that they ceased operations on 4/30/2023.