I was inspired by another Realtor® to write this about property management companies.
Even though many states have different rules and different ways they conduct business I felt a need to write this post based on another issue we face when working with property management companies here in South Florida. Some neighborhoods do not have an association so it is open game as to how they maintain the neighborhood. That can be a good thing or a bad thing.
The good thing is if there is no association then there is no management and no dues to be paid. The bad part is that since there is no control with how you maintain your property then your neighbor can paint their home with spotted or striped colors. Or you neighbor can let their lawn grow until you cannot see their front door.
Just to let you know ...I am not talking about managing rental properties or managing someone else's business. This is about a homeowners association that is managed by a property management company. They already manage different communities in Broward County Florida.
Now the situation is that I have a homeowner who we just found a tenant for. The association needs to interview and run background checks on the prospective tenant. The problem is the tenant wanted to move into the property in 3 weeks. They cannot move because the management told them the board members who sign off on it only do approvals 1 day a month so we had to move the date of occupancy to 60 days versus the 30.
I am working with a very good Realtor® on this one and she has tried feverishly to contact management but they never return her calls...."this is typical". She called me to day to tell me she decided to drive down to the office to get some answers. She was originally told she could not even submit her completed paperwork any earlier than 30 days from occupancy. She met with one of the property managers and tried to calmly let them know that the tenant needed to occupy this unit by September 1st.
They did say that if someone could pay a $25 fee they could speed up the process and have it ready by next week. Now if I was to ask any expert in either the mortgage industry or a Realtor® I am sure they would agree that this is a lame excuse just to collect a bogus fee. From what I know about credit reports...you can pull them in 15 minutes. Isn't it enough for them to ask for a refundable deposit for $1,000 just to cover common area damages. The excuse they love to use is "we do this on a volunteer basis" Well... the people who answer the phone get a paycheck.
They are telling her that they take a minimum of 3 weeks to get a credit and background check done and then set up a time to meet this tenant. So how can they even meet our new deadline? I also feel bad for the other Realtor®..she had to pay the $25 because her client was so upset. "Whether they are buying or renting...what person would want to move to a community that is being run like this?"
Here is another story and this is involving a sale. When we get ready to close on properties in these types of associations...the title company requires to see estoppal letters and make sure there are no current liens on the properties. Normally title companies in Florida will request this information a few days before closing.They have to do this just to make sure nothing comes up at the last minute. These management companies will ask for around 15 days in advance but if you need to expedite it they will be more than happy to oblige. Oh...I forgot to mention that they will then charge the seller an additional charge for a "rush fee". Oh and I forgot about the courier fees that can run about $50 dollars.
In my opinion these companies love to police the neighbors and send out violation notices on time and charge ridiculous fees yet they will not follow through with helping out the good apples in the community. Always another excuse to get someone off their butt to do the job they are already paid to do.
No wonder these companies are fired and replaced frequently. The problem is that all of them are a problem and they need to be looked at to see how we can improve their services and stop charging these ridiculous fees.
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