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Updated 3 days ago on . Most recent reply

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Non responsive property management in Detroit

Posted

Hello

I have worked with 3 property management companies in Detroit for my properties in Detroit. None of the management companies have been great but this one is the worst.

Assigned 2 properties with this management company last year, common problems were 

1. Owner statements were consistently delayed by 15-20 days, a Jan 1-31 statement which was due on 15 Feb would show up some time in March

2. Every month one or both properties will have $200-300 maintenance charges, which fall under the threshold of not requiring owner permission. When asked, they'd respond vaguely in couple of weeks. Keep following up and they stop responding

3. Rent roll and monthly statements were not aligned, when asked they'd correct it and update in next statement which would take another couple of months for me to check

With this I was not able to keep my books in order, and realized I am losing almost 30-40% of actual cash flow to unknown items every month. I did setup a zoom call with the manager, and the manager skipped the call. 

After few months, the monthly statements stopped updating on the owner portal. I have been emailing, calling, request for a zoom etc to management since last 4 months and no success. Frustrated with no response I asked another PM to take over the management, which they have been cooperating. 

Recently, the original PM disbursed around 60% of the money I would have expected during these months from the rent. But still no statement. I think they'd frame maintenance bills like the previous months if I was to ever see the statements.

What are my options to deal with this management company? They are on the way out, but most management companies have similar traits in the area.



Most Popular Reply

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Drew Sygit
#5 All Forums Contributor
  • Property Manager
  • Royal Oak, MI
6,303
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Drew Sygit
#5 All Forums Contributor
  • Property Manager
  • Royal Oak, MI
Replied
Quote from @Balkrishna Agrawal:

@Drew Sygit there were couple of red flags when we interacted last year 

- Your office scheduled a phone call and no one called on scheduled time, this happened twice. Third time is when we talked and that's when I talked about fees. While management fees is not the only criteria, it is important aspect for my business and bottom line profits.

- Based on the your posts about items to check on for PMC, I did read your reviews as well as got in touch with one of your existing client at the time. Its no different than my current experience. I appreciate your posts helping investors like me to be aware of 'things to look for in PMCs'

Based on my experience, I have learned few things in last one year. I will use this forum as a way to communicate with fellow investors but not to give in to marketing gimmicks.


 You must have us confused with another company.

All of our notes show YOU set up a single call with us on June 4 @ 3pm, which I made that call and spoke with you. We sent you info on June 6 and after no response from you, a team member called you on June 19 @ 5:27pm and you stated it was not a good time to talk and would call us back tomorrow. After not hearing from you, our team member followed up with you on Jun 26 @ 11:14am, when you told us you were staying with your current PMC.

It's also highly unlikely you spoke with an existing client of ours. Again, you probably have us confused with someone else.

Good luck with your approach.

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Logical Property Management.
3.7 stars
3 Reviews

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