Some people have been having problems with these property managers, I know I have I encourage anyone who has, to contact their Legal rep over there and a class actions can be made against them for any issues
Hi Rosa.
What problems are you having with them???
Thanks
I have switched property managers and am consulting legal advice…Rentals arrears of about 7 months rent, new property managers managed to evict the tenants, who left pretty quickly when asked to provide proof of payment, and the state that the place was left in was not good. I and my legal reps have contacted them multiple times and they have said that they will make reparations, but so far no joy.
Is this in NSW?
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
No… USA Missouri
Hi Rosa
Are you based in Australia? Has it been difficult trying to manage the issue from a distance?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Rosa
As I see it, this is one of the main problems Australians will have investing overseas. Apathetic, incompetent or simply inexperienced property managers who know you are 14,000 kilometers away.
I have 2 property managers here in Adelaide. If there are issues, flick them an email, pick up the phone or take the 5-10 minute drive to their office. Hell, on the way there do a drive-by your investment property.
Problem resolved.
Not so when you are 14,000 km's away.
So you sought legal advice and got yourself a new property manager.
How did you source a new property manager and what do you mean by "contact your Legal Rep". Did you have a Legal Rep on stand-by in Kansas City or did you have to source one of those as well?? Is this not cost prohibitive?? Presumably you exhausted all other avenues before taking up this option?
Thanks for your input Rosa
Gary
I have sent multiple emails as well as me legal rep over there contacting them…considering their past history and all that strong legal action was advised, but to keep costs down, better for a class action as cheaper in legal fees, though a slightly longer process. It is not cost prohibited for a class action. I had no problems changing property managers and the new ones are doing fine.
Hi Rosa
Any feedback on the cleanup of the house??
I'm lead to believe finding tenants in KC is difficult in January (bloody cold!!).
Hope it goes well for you.
Gary
Nothing yet Gazza, how about you and the arrears?…I forgot that it would be winter over there…brrrrrr!
I've had lots of promises but nothing yet.
"All talk and no action." as the saying goes.
It would appear the tenant has stopped paying. I probably wouldn't know this if I hadn't of made repeated enquiries.
The level of communication is terrible. I still can't work out whether its because they are apathetic, incompetent, inexperienced or overworked. Maybe a mixture of several. Maybe something else.
I know, I'll hold my breath…………….
it can be difficult and I am based in Australia. At the moment the property management is the issue. unfortunately no new tenants atm as it is winter there and i guess most house hunting doesn't go on when there is cold and possibly snow. which is understandable. Everything else has been very easy… but i guess it is the same as here there are dodgy property managers everywhere
Rental Arrears…no money in bank and promises of immediate payment, leading to more promises of immediate payment leading to nothing.
I have had the same problem with the communications from them and when they do reply it is promises promises, but not showing the money. It could be several things or all, but regardless they were contracted for a service and they should be providing it. I have a lot of arrears and it has ceased to try my patience and irked my rationality.
Has anyone heard from Rosa Tong lately????
Hope she sorted this mess out.
Class action suit against a proprty manager is the height of follie….
buy cheap ghetto props and this is what you can expect… Here Nigel and I agree.
Hey Gazz, Yep I have gotten the money! finally!!!! only took bout 9 months for them to come through…and no my place was not in a ghetto…sometime a few legal letters and support really do help. I for one don't see a problem with owning "Ghetto " property… depends on the type of ghetto, the tenant and of course your property manager. Now that I have the money it is going to pay off the mortgage principal so I will pay it off faster…the new property manager is good so far.
Great to hear from you Rosa.
Awesome outcome.
Will be even better if the Aussie $$ continues to slide.bad news again…new property maanagers said that I had tenants…. and now i find out…well found out a about november after mmonths of emails that they apparently haven't let out the property…so way behind and am now selling the property.. Rent o buy unless someone can come up with some decent money up front..I have already put more than i wanted to in it and now may lose all that i have invested which is absolute crap….
I don't blame the people whom i bought the property off, but the property managers, like any where in the world they are hard to find, even if you live in australia.
Rosa,,,
what your describing is very typical of low end rentals in the US has little to do with PM unfortunatly it has everything to do with the quality of the tenant.. When you buy homes that are 30 to 60k in any market in the US you are getting bottom of the barrel tenants.. good tenants do not want to live in these neighborhoods and they do become Ghettos to some extent. There is only so much a PM can do.. Although lack of communication is very bad. But the quality PM's do not work in these areas either.. PM's loose their butt dealing with these low end rentals and your experince is not ab normal.. This is why those that work in these types of neighborhoods really need to be local slum lords that can pound on doors and demand rent.. YOu think these tenants are afraid or will react to a legal letter Hell no.. they live there lifes in constant turmoil and threats..They know how to work the system how to live in houses for free then move on to the next one.
There is a reason Englo moved to KC.. He knows he needs to be there boots on the ground to get his portfolio to work… Same with me and my portfolio in certain markets.
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