Ok, so I left Atlanta in August and am in Seattle with a major problem - what to do with my rentals?
I have 13 units that are in a low income neighborhood and most PM want to only work in higher profit areas.
I had asked another investor, who used to have properties in the area, and he said that he’d deal with them, together with an agent that he’s working with on other rentals. I’ve known this guy for +10 years and trusted him.
Well, they’re really not doing anything, except collecting rents (which they haven’t turned over to me). They made it clear to me that I wasn’t to talk to any of the tenants (Have managed them myself when I lived in the neighborhood in Atlanta and know each one of my tenants) , to not undermine their relationship.
Well, I kept getting calls from tenants, saying that certain things still haven’t gotten fixed. When I contacted the PM I was told to stay out of it and they’d take care of it. Well, they didn’t.
Finally started calling some tenants today, asking them to please not tell the PM that I talked to them and found out that there are things that they haven’t fixed anything. One of my tenants was offered other houses to potentially move into (not mine) by them, because they weren’t happy with the noise level of the tenant in the other side of the duplex. Several tenants told me that they’re ready to break their leases because of the way they’re being treated. They’ve told all tenants that I instructed them to never contact me again. I’ve also found out several lies that they told about me, things that I supposedly said.
It makes absolutely no sense to me, unless they’re trying to run off my tenants and then make a low-ball offer on my vacant units.
Sooooo, I’m now ready to put in a very good friend of mine, who’s never managed before, but who I trust 100% and who has the time. I can work with her long distance on every little thing.
Is there some kind of paperwork that I can get somewhere, that she can use to instruct the PM to turn over all the collected rents to her? I’m trying to figure out the best way on how to go about the transfer. Is there a name for a form that I can google for maybe?
Thanks for any help