My family and I sat with a representive of the company to go through their functions as a property management company. We had been eager to work with them since they were already doing many properties and were also offering properties for investment through VA troubled properties.
We signed on with Property Masters on January 24. On our contract with Property Masters we opted for no repairs be ever done to the property without our direct authorization. There were other things associated with the contract, like, we had to keep a trust fund in Property Masters name that can never go down past their minimums, and we had to pay for advertising, and we paid for signs to be put up and down, and for them finding a tenant, and when the tenant is late - those fees go to property masters, and a bunch of other things that can really nickel and dime you to death.
The representive we meet with was very nice, and professionlly driven. She answered all our questions. There were two types of renters she addressed with us. 1) A general renter: This person rents the property for the term of their lease, and thats it. 2) A Lease Option Renter: This renter rents the property for two years, and with this application, exercises the right to buy within the terms of the contract. Under this contract the tenant is responsible for all their own repairs, or problems with the property, and they have no grace period; is due on the 1st.
Many weeks, and lots of our moneies later, we get our tenants. We were not allowed to look at any tenant application or credit information, other than the lease contract.
Our tenants move in and since then have paid consistantly late around the 9th or so.
I make several attempts to speak with someone, but I can say my relationship with the answering machine is very strong, since talking to someone live is so hard to do. There excuse is, "we handle over 300 properties"... Yeah, but I am not calling on everyone elses property, I am calling on mine. I don't do excuses well.
Yes, I finally call and speak with the person handling the property owners area around June 13th, and tell them that my renters are not paying according to contract and that they need to be evicted. Between June 13th to the June 17th we have a lot of coorespondance. They give me some song and dance about laws and waiting periods. I said, but they breached their contract. So I compromise.
I tell the lady that they can not make late payments. I also let her know that I wanted someone to ask what is going on, I am thinking that someone at Property Masters would have common since enough to think..."they pay between the 9th and 11th of everymonth cosistantly. Is it their employer, or bank? Does this just effect them finacially or has this relax catered to their way of living, in other words, what kind of condition is the property in?"
But the people at Property Masters seem to think in the same since as a careless renter..."it's someone elses problem, or why should I care, or it makes no difference to me". So after much argueing with the lady, I tell her to do an inspection and to talk to the tenants. I ask for her to tell me as soon as she finds out anything at all.
OH, and if that was not enough, Property Masters has charged me for a repair that was neither requested by me or the tenants. I never authorized it. I did not even know about it, til I got my bill.
So I say to the lady at Property Masters, why did you guys do it? She says they sent a notice, but since I did not answer, it meant to go ahead. I told the lady that my contract says that I authorize only. I want my money back, and she gives me a bunch of excuses for why they can't. Hmmmmmmmmmm. So I tell the lady, under no circumstances, can they do any work to the property without my say so, and she wants to argue with me about it. I said "period". With attitude she complies.
I finally talk to the maintance people and they inform me that they can't do the inspection, cause they need to give 48 hours notice. I told her to do so. They promise to send pictures of the property condition and a report. I am finally feeling some relief but think that Property Masters breached their contract with me buy allowing work to be done on premises, and letting payments continue past the due date.
I finally recieve June's payment and call in to ask questions. The lady tells me that the tenants have not paid all the late fees for June. I consider this not paid rent. All the late fees go to Property Masters any way, maybe they just don't care.
@#! &*^%$@!!! Yes, you guessed... IT IS JULY 3rd, and none of my requests have been done to date. I know this cause I called Property Masters on June 30th, and the lady had no clue to anything I requested or had not done it. Also, my home inspection is not done and the lady can't tell me why or when it will be. So I ask her, to call me as soon as she does find out something. So you guessed it, SHE JUST DECIDES not to call me.
It is July 3rd and I had to call Property Masters again, cause the lady would not return my call. She says the maintance will go out today to my property. She informs me that my tenants phone has been shut off and not yet turned back on. I tell her to evict them if they don't pay.
Not only am I frustrated with the incompetence of the company, a lot of my issues could have been resolved if they had just stuck to their promises. But it is more like pulling teeth when it comes to them than like doing buisness. I cannot wait to get rid of this company. I will not use them again in this capacity.investor or property owners beware.
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