All Forum Posts by: Greg Von Notias

What percentage of the profits per year is typical to spend on upkeep and repairs?

They on average 30 to 50 percent per month?

Could any of you do the math for your own properties and figure out what the average range is?  And keep in mind they have been doing this for years. I want to have solid explanations for what is typical and is normal. I keep telling my inlaws that by now there should be nothing left to fix.

I very appreciate all of the advice, amd I will let you guys know when I am going to present this thread amd your ideas to them.

Any other tips on how to rightly explain to them that they have been had, taken advantage of, it isnt normal to spend this ammount on a property.

Thank you.

Nebraska Ave in Santa Monica California.

Do me this favor...explain in detail how it is they are able to do this.is it that they just claim they are doing repairs but actually do nothing? Like what I read in the legal case with the leaking gas pipe?

I need to explain to my inlaws how it is that they are actually doing it....so how is it that corrupt PMs do their crimes?

I need to get enough of a irrefutable momentum driven reason that they should terminate them and go with a company that's highly rated

I mentioned before on ther Yelp for instance the first review says you will have to sue these people to get any money back. My inlaws cant see the problem for what it is.

They should get 80 to over 90 percent of the profit per month....this month they got less then 50 percent...for the past two months NOTHINg claiming roof repairs.

It makes me want to go back in the records and find out when they last did a major roof repair. Go take photos of the current roof and make sure it's all brand new.

Thank you guys for a prompt response. They apparently email a break sown permonth with the automatic deposit of the profits ..but I have not seen it...I got my inlaws to request 2 years of records last June but I do t know how to confirm they do the actuall repairs...I discovered they were sued for saying the replaced pipes in a gas line but only really used duct tape if I read the legalese correctly. I cant fire them. And my inlaws dont believe me...

Shouldnt they retain over 90 percent of the profits the majority of the time. The property is in anta Monica.

Can I posted the name of the company here?

My inlaws have a 4 unit property that should net around 10K a month. 

The PM company tell them EVERY month that between 4 and 7 thousand dollars of maintenance/repair is needed. My inlaws say, "well the building is old". It is form the 1970s. They have been doing this to my inlaws for many many years...the fluctuations of income alerted me to this becaus it makes no sense.

They think I am wrong. But how can I catch them. Should I lost the PM co.pany here...if you google their name and look on Yelp they have terrible reviews and I went to the courthouse and looked their name up to find they have been sued over ten times in the last 8 years.

What is the best way to catch them? It has become a sensitive matter and they get flustered and frustrated...they dont want to deal with it.

Any thoughts?

Fyi, on their website they have accreditations listed, and I called each one, they are not members. The HOA said they would call them and demand they take theirs off and that has happened. They are bot even part of the BBB.

Thank you in advance.