All Forum Posts by: Margaret Essien
Margaret Essien has started 1 posts and replied 5 times.
Post: Property Managers Mismanagement
- Rental Property Investor
- New Jersey
- Posts 5
- Votes 0
I completely agree that one has to.
Lesson learned. Moving on. I'll do better.
Thanks for your input.
Post: Property Managers Mismanagement
- Rental Property Investor
- New Jersey
- Posts 5
- Votes 0
Quote from @Darius Ogloza:
Sadly, it seems to me that, regardless of how terrible this experience must have been, there are not enough damages here to pursue a claim in Ohio courts whether you do so from New Jersey or Lagos! The absence of a rent increase for 6 years, frankly, is something that your relative should have observed based on the cash flow he had been receiving from the property over that lengthy period of time. The lack of notice is very frustrating but it would be awfully hard to tie money damages to those actions. If your uncle retains a new manager who charges more than the initial manager's contract price for various services, he could recover the difference as well as his $700. It does not sound like these guys were charging above or below market so I would expect the difference to be small. In short, I think YELP is your best friend here.
Thanks for your sincere response.
I'll work on engaging a new PM.
Post: Property Managers Mismanagement
- Rental Property Investor
- New Jersey
- Posts 5
- Votes 0
Quote from @Joe Splitrock:
1. Should have questioned this every year. Nothing can be done now.
2. Should have been better communication by the property manager, but it sounds like they handled the eviction. Given COVID restrictions, this seems like a reasonable time period.
3. This is unfortunate but in an eviction situation it is common. You could pursue tenant for damages in court, but that is likely a waste of time.
4. Assuming the property manager asked for the $900 in writing specifically for junk removal, this could be considered fraudulent use of funds. You could sue the PM in small claims court for the $700.
5. See response 4.
6. It seems they breached the contract, but you are really better off without them at this point. Hire a new PM and move on.
There is not a lot that can be done here. Possibly recovering that $700 is the best case. I would first focus efforts on finding a new PM and getting the unit rerented. Only after a new PM is in place, would I spend any effort going after the old one.
Post: Property Managers Mismanagement
- Rental Property Investor
- New Jersey
- Posts 5
- Votes 0
Hi, everyone.
My uncle is an out-of-state (Nigeria, West Africa) investor in Toledo Ohio. He bought a 4bedroom, 2 bath single-family unit in 2016 with his retirement life savings. He contracted property a management company in Toledo to help get tenants and manage the unit.
The following happened under the supervision of the property managers
- *Rent wasn’t increased for 6years.
- *The tenant fell back on rent for 4 months and was eventually evicted in August 2021 (Landlord was left in the dark until after eviction)
- *Tenant abandoned his Property and destruction to the interior is left only to the imagination.
- * Property Managers ask for $900 for the removal of the tenant junk and when given they took $700 (as a management fee) and returned $200 and that was it.
- *The property Manager sent an email in response to the landlord's inquiry as to the $200 refund, he got this: ‘Hello *******, you have been dropped as an owner, no action is occurring as we no longer manage the property'. And that was it. Dropped just like that?, with the Tenant abandoned property still in the unit?
- * Property Managers breached the contract agreement executed on September 16, 2016, with a termination clause after 12 full months which shall be automatically renewed from year to year unless a 60-day written notice is received 60 days prior to the expiration date. The landlord wasn't given a 60-day notice of any sort.
I have been assigned power of attorney as the landlord. I live in New Jersey and I have investments of my own in Newark.
What do I do? Any suggestions?
Post: Bob Diamond overages live events and courses
- Rental Property Investor
- New Jersey
- Posts 5
- Votes 0
I finished listening to Bob’s webinar and he asking for a $1497 for registration. That is a LOT! I'm tempted though but I'm still not sure the overage stuff is as easy as he claims. And shouldn't one have some sort of legal training/ certification or something. Any testimonial?