Property Manager question : ezLandlordForms

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Jessica S

started a topic almost 12 years ago

I have a rental in NC with a property manager taking care of it. They had been depositing the funds by the 9th of every month so I could pay the mortgage. I was now informed that for this month, they would not be depositing the funds, due to the renters are almost 1200 behind. The renter comes in with just enough to make the manager happy I guess, and then has been fronting me the monthly money. It is not like this company does not have money to continue to pay me, they are multi-millionaires. How does one front the money, and then not tell me the renters after today will be $2000 or more behind in paying? I guess the renter had surgery that put her off work for 4 weeks, but there is 3 adults working in the house. One being her adult son and her husband. The lease is up at the end of the month and I want also know what can I do, being 18 hours away, and getting fed up?

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Dawn A

said almost 12 years ago

Your property management company did you a dis-service by not telling you. There are a lot of bad property management companies out there and it sounds like you got one of them. You ought to be like Donald Trump and tell them "you're fired!".

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Bob R

said almost 12 years ago

You may want to report the company to the Board of Realty. Also, you may consider legal action.…that is after you take Dawn’s advice and fire them…..I would send tenants a letter stating that their lease is not going to be renewed and have Management Company send tenants a Notice that they will have to vacate the property….. Another option is a Notice to Pay or Quit and then start an eviction if they don’t pay…. I would follow up with Management Company at a minimum weekly. . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with your State/Local laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download with data.

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Natalie D

said almost 12 years ago

In California, it is actually illegal for a property management company to front their clients money. I am not sure if North Carolina has the same laws, but they did you a disservice and I would immediately fire them for their lack of honesty. www.lingschrealty.com

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Jenny R

said almost 12 years ago

This is illegal. I would say that yopu just file a complaint against that property management company. Terra Group