I was solicited online to lease to own my property. I disregarded it until I had tried to sell the house for a couple of months and decided trying KACW can't be any different than a regular tenant, and since it is a company, maybe best bet to sell the house. I've owned and managed rental properties for over 15 years and have never had the problems I am having now.
I signed Lease with KACW on November 3, gave them access to the property on November 10th and was told I'd have my down payment and first months rent in two weeks. On November 26th when I contacted KACW concerning this, Joanne said they hadn't sent any money because I hadn't given them access. I reminded her that I had in fact given her access, both on the phone I told her the combination to the lockbox and I had emailed it to her and I knew they'd been in the house because I'd been checking.
On November 25th, they are advertising my home in the newspaper. I haven't received any money, nor do I have the signed contract back. When I call them, they keep insisting they are doing inspections. I advise them I work in real estate and a normal inspection takes just a couple of hours, not 3 or 4 visits to the house. I ask who is doing inspections and showing house. They do not disclose this information. I remove the key from lockbox. Within about 6 hours they are calling me to see why it isn't there because their inspector is there. What they are doing is showing the house to prospective tenants/buyers, not inspecting it.
Was told on December 10th, when I called to see where the money was, they did not have anyone lined up to lease property but were compiling a buyers list. On December 15th I went to check on house and someone was living there and had been for a while, large childrens fort built in back yard, dog run back yard. Utilities were still in my name. When I tried to contact KACW by phone and email, got no response. I had utilities turned off. Utility records indicate someone had been using the utilities for at least 10 days when on the 10th, I was told they didn't have anyone lined up.
Received Check for $2500 down and $1050 for December on December 12th.
On January 17th, I received letter saying our funds are a little short this month' but please do cash this next month with postdated check for January and February rent, I was to cash on February 15th.
On Tuesday February 14th, I received a certified letter stating KACW was no longer wishing to continue the lease with me Due to the tragic death of a business partner we are unable to financially or professionally continue with the management of your property' and they were assigning the lease they had with tenants to me and they had cancelled the check I was holding for January and February Rents. They also had sent me the lease they had with the tenants, an Assignment of Lease from them to me, along with the form they used to check the tenants out before leasing. It was a simple nothing form.in this letter they went on and on about how much more money I'd make since they weren't going to be involved.
I went immediately over to the residence and introduced myself and let tenants know I was the owner and KACW was no longer involved. This was the first time I had met occupants after numerous attempts to get KACW to at minimum disclose the occupants names just so I would at least know who was living there. Present was one of the tenants and her sister. The tenant informed me she had sent $3,612 to KACW the previous day after speaking with them by phone and KACW suggested if they would send them $3,612 certified funds, they would reduce their monthly lease payment from $1100 to $800 per month.
I advised her to stop payment on that check or they may likely lose their money because KACW is no longer involved in the lease agreement. The letter KACW sent me was dated Friday February 10th and sent certified that day, this phone conversation tenant had with them was on Monday, February 13th, I got my letter on Tuesday the 14th. So why would they on Monday the 13th have the tenant send them a certified check, and she insisted it be a cashier's check made out to Helen - . Why wouldn't she say... We have assigned the lease back to the owner and have them contact me??? So they could get another $3612 from the tenant and put it in their pocket. Why would the tenant be told to make the check to Helen Pearce when their contract plainly says KACW Investments?
After arriving home around 11:00 AM I called KACW and got an answering machine and left word for either Joanne or Helen to return my call, not realizing that Helen IS Joanne. Then I opened my email to find the following email:
Read this nonsense:
Ms. - ,
1. Our tenants just notified us that you went over and we wondered why so we checked our records and I realized we made the biggest mistake that we possibly can and we are deeply, deeply sorry. I have another contract with another gentleman by the name of Andre - and told the assistant to draw up Assignment papers for him. She accidentally drew them up for you by mistake and I did not notice it either. We are very sorry and we will have the situation corrected immediately. I will have another payment reissued to you immediately for last month with late fees and for this month with late fees. I will forward the tracking number to you.
Again, I apologize for the scare and the inconvenience.
Thank You,
Joanne
KACW Investments
I then sent my reply to that email requesting if it had all been a mistake, they should wire the money into my account immediately, that I did not wish to wait for them to reissue a check as I had been holding this check for over a month. No response. What are the odds they would have a contract with someone named Andre Monnick when my name is Andrea Minnick. And how dumb is it that they managed to cancel the check I was holding, and put all the paperwork regarding my home including the tenants information in that envelope if they meant to send it to another individual.
I then get an email saying they have sent my check Priority and a tracking number and that since they mailed it from a ups store it probably wouldn't register for a while. OK, now it is starting to click, they don't have an office at that address, that address is a postal box at guess where? A UPS store. I tried to track the mail and continue to get a message that the tracking number does not exist.
Later that evening I called the tenant and asked if she had in fact got the check stopped and she said it was a cashiers check and was told by the Bank there was nothing she could do. I advised her she may lose her money, because KACW had not paid me rents for January or February and the tenants may have to obtain legal counsel since their Lease was with them, that I am the owner of the house and I'd have every right to take possession of the house because I had not been paid.
I continued to check the tracking number and was not able to obtain any information. I emailed KACW and let them know the number was no good. No response.
On February 17th I received a check for January and February lease payments that had another name marked out and my name written over it. See photo attached. The bank would not honor the check DUH! I again called KACW, no answer. The bank tried to reach them by phone, no answer. I emailed and they responded a check would be reissued but they didn't understand why the bank wouldn't cash the check. If the bank would not, they'd cancel it and send another out priority mail.
On Saturday the 18th, I emailed them again and said to send me another check, this one is no good. They said they would reissue one Monday the 20th and send it priority mail. Finally, on Wednesday, the 22nd, they sent out another check, again through the UPS store which they are using as their office address. I received the check on February 27th.
At this point I was tired of the crap and sent them a letter and changed their late payment fees. It is ridiculous to have a $25 late fee, when they are late every month, and all they pay is $25, whether it is 1 day late or 50 days late. Joanne immediately responded (when she doesn't respond to anything else) saying I could not change a contract once it has been signed. That their payments will continue to be mailed out in the time frame of due on the 10th, late on the 16th. Hmmmmm, has she checked her records, how can they continue to do what the contract says when they haven't done it yet??? And oh, they are disregarding my letter.
OK, now it is March. No payment in the March 15th mail. I email them. No response. March 16th, no payment, I email them, no response. March 17th, called, voicemail says full, not taking any messages. I email on March 17th, saying I tried to call, but couldn't leave message. March 20th, called at 9:36 am, left message asking when I could expect payment. No response. Sick and tired of all the runaround, I file a complaint with the BBB. I also put the following posting on — to see if there is anyone out there that is having the same problem with KACW:
Has anyone heard of these people? They solicited online to sublet my property in Oklahoma and every month I get the run-around (if I can get ahold of them at all) when it comes time to receive the lease payment. They are run by Matthew and Helen & and Joanne - . They list their address as 12472 Lake Underhill Road #143; Orlando, FL 32828 email me if you know anything
I called KACW again March 22nd, no answer, left message. Later that day I get an email saying the payment was mailed the day before. Receive check March 25th, envelope postmarked March 22nd. So they didn't mail it the day before, they mailed it that day.
Numerous people contact me through & asking about KACW over the next several days.
On April 5th, I get the following email from Joanne - at KACW about the CL posting.
You need to immediately remove this poster or face criminal fraud charges, not to speak of a slander civil lawsuit, and immediate termination of the contract. You have 24 hours.
Then the next morning I get this email that is supposedly from her attorney:
Joanne, I advise you to immediatly file a slander lawsuit. You have paid? Correct? If that is correct then I will check in with an Oklahoma State Attorney to see about fraud charges. She also posted your address without your written permission. How many deals have you lost because of this posting? You can also file a lawsuit for that. No matter what happens down the road you have this as a tool, so if you do decide not to sue now, you can sue later, but you know I think you should now. I know you're simply asking for my advice, and you always try to do the nice thing, but what you've told me already this situation is only going to get worse. Call me or e-mail me if you need any help with the paperwork.
OK, now they are going to sue me for all these things. I ignore all their emails. I do go on & and change the posting, but I don't remove it.
Now it is April 17th, no payment for April. I email them on April 15th, no response. Today I mail certified a letter saying they are in default, again.
What a joke this company is, if you are smart, you won't touch their offer.
Andrea
Muskogee, Oklahoma
U.S.A.
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