All Forum Posts by: Emily Powell

Welcome to Bigger Pockets, John!  Glad to have you here.  I think hearing both sides of every story is valuable to BP members.  With that said, ...

To clarify your clarification...  No management terms were agreed to in advance.  I did have the agreement 10 days before closing, and I absolutely should have had the conversation about the terms then, and not after closing.  That was absolutely my mistake.  But nothing had been agreed to. No management deal was signed nor was anything agreed to verbally, only the deal for the sale of the house.  In my mind, the deal for the house and the deal for managing the house were not one in the same, so my agreeing to purchase the house was not in fact an agreement to have PRG manage the house as well.  And while I understand that the delay in sending the management agreement to you delayed the November rent, it doesn't explain why there was no rent deposit in December.  Nobody from PRG reached out to tell me that I wasn't going to receive a rent payment in December.  From my perspective, if another month was going to come and go with no payment, I should have been contacted to be informed that there would be no December deposit (the November delay I will take responsibility for) with an explanation as to why.  After finally receiving a statement/deposit in January and another in February, as we discussed over the phone on Thursday, I am still missing December, January and February rent from the tenant (the housing authority portion has been paid to me).  I appreciate that you are going to have an off-cycle payment made to cover these payments, but the fact that the statements/payments are still wrong is very frustrating.  I am still holding out hope that the accounting on the property will get sorted out soon.

Interesting theory.  To add an extra bit of confusion, my PM deposited all 12 months of this difference in rent into my account with the first month's rent.  So the $120 difference (which is supposedly coming from SAVE) x 12 months = $1,440 was added to the first month's rent deposit.  So either my PM is fronting the $ they're getting from SAVE or...heck, I don't know or what.  Like I said, I'm happy to have the $, just confused about where (and why) it's coming from.  More importantly, I'm curious what will happen in year 2.  Maybe I'll call SAVE and inquire.  Good suggestion, @Matt R..

@Ann Bellamy - Yes, they were very clear with me that QuickBooks is a software for businesses so only people with business accounts get to download transactions.  I'm still debating whether I'm going to switch software or switch banks.  :)

Thanks, @Ann Bellamy.  What you say is true.  If I had a business account, I think this wouldn't be an issue, but I do not have a business account, so downloading from BofA without paying a monthly fee is not possible.  It's a bummer.  Thanks for the reply.

@Matt R. - Thanks.  Yeah, I saw that too.  I'm just confused about why this program would compensate the owner for the PM misquoting an accurate rent amount.  I feel as though it would be my loss for not doing my due diligence and confirming that the rent amount quoted by the PM was an accurate amount.  It was my fault for trusting when I was told that a lease was signed for $1,100 but when that tenant backed out and the PM then put a Section 8 tenant in, the housing authority deemed the market rent to be $980.  So I'm not sure I understand why this SAVE program would then compensate me for the difference.  I haven't seen any documentation from this program, so it's possible that PRG is just giving me the $ and saying it's coming from SAVE.  I know I shouldn't be complaining about receiving this $, I just want to understand where it's coming from and John @ PRG isn't exactly great at communication.  Just seems odd to me that this program would compensate me when it was nobody's fault other than mine for trusting my PM.  Does that make sense?

Not that anyone particularly cares, but in the event that someone finds this thread and want's to know how this was resolved, I finally received a deposit in my account today.  And I am told that the program making up the difference between what I was quoted for rent initially and what I am receiving from the housing authority (and tenant) is called SAVE (

www.saveinckc.org/).  I'm not sure I understand why they are covering the difference, but I'm grateful to be receiving the $.  If anyone knows anything about the program and would like to enlighten me, I'd love to hear.  So hopefully it will be smooth sailing going forward.  

Back with an update.  Finally received a statement from them this morning.  Apparently they mailed a check on the 15th (which I'm not sure why they did, since I was set up with direct deposit in November).  When I inquired as to why a check was mailed (which would not have made it to me because I travel for work 365 days/year), they stopped payment on the check and issued a direct deposit, which I'm told will hit my account tomorrow.  While I am still unclear as to why this didn't happen sooner, I'm glad it finally happened.  Hopefully the $ will hit my account tomorrow and everything will be smooth sailing moving forward.  I am still unclear as to what government program is making up the difference in rent between what I was initially told it would get and what it is actually getting from Sec 8, but if the $ is coming to me, I guess I can't complain.  I just wonder what will happen in year 2.  So there you have it.  Better news today than when I wrote the previous post a few days ago.  Here's hoping it only going up from here.

I purchased a turnkey through them. The buying process was flawless. I attended the inspection and John agreed to fix each and every item the inspector pointed out. I was thrilled. I closed on my property on October 28th. Today is January 16th and I have yet to see a dime of rent. Before making the decision to purchase the property, I was told that they had a lease signed for $1,100/month (I purchased the house for $100K). As it turns out (which they never told me), that tenant backed out and they apparently then applied for Section 8 and now have a renter in place paying $980 ($127 of which she pays and $857 of which the housing authority pays) and supposedly there is some government program that is making up the difference (I have yet to see any documentation on this). Apparently because of the complications with this accounting, they were not able to deposit the rent in my account last month but promised me that I'd see a deposit on the 15th of January which came and went with no deposit nor a statement of any kind. I am beyond frustrated with them right now and happened upon this thread tonight and figured I'd chime in. Hope to have better news soon but as of today, 75 days after closing on the property, I've not seen a dime in rent nor a monthly statement of any kind. 

Apparently. My CitiBank credit card download it's not being recognized by QB (and support could not figure out why). And Bank of America does not have the option of downloading a .qbo file or web connect unless you have a business account or pay $15/month, which seems crazy to me. It's not like I'm banking with Joe's Bank of Omaha (no offense to Omaha), I'm banking with one of the largest in the country. Bummer. 

Unfortunately I'll be returning QuickBooks.  After 2 hours on the phone with their tech support, I've learned that I cannot download transactions from either my bank (Bank of America) or my credit card (CitiBank) which renders the software completely useless to me.