Property Management Maven

http://www.virginia.edu/uvatoday/newsRelease.php?id=7838

While the Central Virginia area has been fairly immune to the foreclosure crisis effecting CA, FL, AZ and other states, we are not immune to the “fall out” from incoming area new-hires from those same areas who are unable to sell their current homes.  If they are fortunate enough to have good long term tenants in their current home, they will be better able to weather the real estate market in those areas while leasing a home in Central Virginia.

I find myself giving property management advice to my current renters since they are NOW landlords themselves.

Two property owner/clients I fired in the last 2 years now want to come back.  I’ve never had this happen before that I can remember.

One client did not like the repair/rennovations I suggested for long-term holding of their property so I suggested they find another property manager.  They elected to try to sell the property and had their Realtor handle the temporary leasing of the property.  Well, it did not sell, their “faux” property manager failed to use the correct leasing forms and lead disclosure, the tenants are gone and the property owners have had no income since December.  I’m going to have to think about this one as they may have other issues with the property.

The second set of clients were “new” and after an hour property presentation, 19 page management proposal and numerous e-mails, they wanted to choose the tenants, I said NO; they did not want to repaint children’s rooms to a neurtal color and they did not want to include yard service as we originally discussed.  Since I had very little time invested in setting up the property, I suggested they find another property manager who would agree to their conditions.  Evidently, they made the same demands of other PMs in the area and got similar responses and they now feel that my management program and marketing efforts are superior to the other area property managers they talked to and still want me to handle their home.  I’m leaning toward NO as I see similiar conflicts in our future relationship.

I now see why many property managers are electing to charge a set-up fee when taking on new management accounts * I charge a $400 fee if the 2 year management contract is cancelled within that time * I’m going to pay more attention to the time I invest in setting up a new property and consider it more seriously.

I just wanted to thank you for taking the Deadbeats and their 4 children.  I know they presented their “prior landlord” as a heartless B-witch and that the property they rented was full of mold; however, the truth is that they were late 3 times with their rent in the FIRST 6 months of their 12 month lease and I had placed them on CERTIFIED/BANK funds only for their FUTURE payment of their rent.  I allowed them to pay their December, 2008 rent on the 15th and I agreed to waive their late/notice fees provided they were not late for the remainder of their lease. 

When they did not pay their January, 2009 rent on time, I served them with a 5-day pay or quit and filed the unlawful detainer/eviction on them on the 12th of January.  They then proceeded to bring up mold, as well as many mis-assumptions regarding the Virginia landlord tenant statutes.

They failed to appear in court; however, they advised the judge via a fax that they would be willing to leave the property in 30 days.  The judge awarded me immedite possession and I filed for a writ of possession that same day.

I advised them I would stay their  removal by the sheriff for a week so that they could move over the following weekend which is when they contacted YOUR real estate agent and offered to lease your beautiful home.  It is unfortunate that your Realtor failed to call me for a reference on them or check the county court website which shows the eviction I had filed. Had your agent run their credit report, they would have noted my inquiry in July, 2008 and that should have triggered a suggestion that they call me directly and verify their story regarding the property they were leaving so abruptly.  Had your agent driven by the property they rented from me, he would have seen a 3 year old $350,000 home, much larger than your home and in much better condition.

Again, thank you for taking my deadbeats.  If you and your sloppy real estate agent not taken them as residents for your home, I would have had to remove them through the sheriff, gone through abandonment postings for items left at the property  and notifications per Virginia eviction rules.

Don’t expect your rent for the next few months.  I am having his pay garnished for the judgement for the January rent and I have filed a Small Claims court action against them for the February and March rent. 

Wallace S. Gibson CPM *
Gibson Management Group, Ltd.