Updated 5 days ago on . Most recent reply
Advantage Property Management
I am a Tennessee property investor reviewing my past management relationship with Advantage Property Management of Cordova (Memphis) (APM) and trying to determine whether other owners had similar experiences regarding repair billing and related disclosures.
Before I contracted with APM, its website stated: "Receipts given on every repair. No property management 'mark-up' is added to the total of repair." (I'll try to attach a screenshot, circa 2019.) I also received other communications from APM that were consistent with that statement. The management agreement itself did not specifically address repair markups.
During the relationship, in its annual cash flow statements to me, APM identified some repair-related charges as "vendor discounts,” and explained them this way: “What is a Vendor Discount? This is a advancement/draw paid to the vendor on projects. It is part of your repair/rehab expenses.”
If you are or were an owner client of APM, in Tennessee or Mississippi, and received similar statements, disclosures, explanations, or billing practices, I would appreciate a private message.
I am only attempting to compare information from current or former owner clients. Please do not post accusations, speculation, or statements about matters outside your own personal experience.
