Is anyone using Independence for management in Dayton?

Question

I am having trouble with unresponsiveness, not getting distributions, and random people saying I need to send them money due to my account being below zero, which it's not.  I'm trying to give the new owner and team time to get business in order, but I can't help but wonder if I need to move on from them. Is anyone else using them? If so, how if your experience going?

Heriberto Gonzalez · Answer

Jen,

I am also having issues with communications. They used to be so good! I purchased my property in Ohio as a turnkey from them. I'm also considering ending the relationship.

Victor Patel · Answer

I’d be less concerned about giving them a reasonable transition period and more concerned about the combination of issues you’re describing.

Unanswered messages are frustrating, but unexplained missing distributions plus people asking you to send money because of an allegedly negative balance is a different level of concern. Before sending anything, I’d want a complete accounting of the property/account showing the transaction history and exactly how they arrived at the balance they’re claiming.

I’d also put everything in writing and give them a specific deadline to reconcile the account and explain the missing distributions. If they can’t provide a clean accounting or you continue getting conflicting information from different people, I’d seriously consider moving the property.

A management transition can be messy, but your money and your property records shouldn't be ambiguous during the transition.

Jen Lucas · Answer

Thank you all for your replies.  I requested a meeting with their accounting team and finally got something on the calendar.  Fingers crossed this is the first step toward fixing whatever messiness if going on.  I appreciate the help.  And if anyone else useds them, I'd love to hear how your experience is going

Eduardo Cavasotti · Answer

Jen Lucas I would make them produce one same day accounting packet before you decide whether this is patience or termination: current owner ledger, reserve balance, unpaid invoices, distribution schedule, and bank deposit history.

If the GL says you are owed money, a random request to send more cash should tie to a specific invoice or reserve rule. If they cannot connect those 2 records, the problem is not responsiveness, it is accounting control.

Matthew Irish-Jones · Answer

Eh... That's not good.  There should not be a dispute on whether you owe money or are due a disbursement.  It should be clearly outlined in your monthly statement how much you are owed and how much you have on file.  You should also be able to log into an owner portal and check this in real time.

If you are getting random emails from random VA's, they are either disorganized, a scam, or there is a communication breakdown.

You should be able to call them on the phone, speak to their accounting department or property manager assigned to your account, and clear this up on one phone call.  If no one answers the phone or they don't call you back in a timely manner... you have a serious issue on your hands.

Jen Lucas · Answer

Hi Matthew, yes I can see in the GL that I am due a disbursement.  I am mainly trying to see if others are having the same problem with them in order to know if I should keep pushing to right things or to terminate my relationship with them.  Thank you for your reply!

Is anyone using Independence for management in Dayton?

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