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Property manager are a dime a dozen around here. Most of them don't do a good job, don't care about tenants, just want their money every month.
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Yes, I'm familiar with those types of Management companies. They are all over the place. I know exactly what you are talking about. Its cool to take over challenging portfolios with a constant state of resident turnover and just overall filth, and get it to where occupancy is stabilized, reduced crime, and have people who actually pay their rent and WANT to live there.
My most recent job was a mix of tax subsidy (section 8 and section 42) plus Market rate. The subsidized side was a mess. I've been doing Property Management since 2011, and never in my life have I seen a place that was such a mess. I never want to work at a tax subsidized/low income place ever again if I can help it. Constant police activity, property damage, drug use, crime....for the area it was in, it was unusual to have that kind of criminal activity. I would consider the area semi-rural, but you have people coming from bigger cities to live there (they will go anywhere they can live for free or at a SUBSTANTIAL discount)! it was bad. The Market side had a metal gate separating the two areas (if that tells you anything). I was getting TONS of complaints about the subsidized side, and I decided to do something about it. I put the troublemakers on notice, and if behavior didn't improve, or they didn't bring their account current, I either gave them a 30 day notice or evicted them. My boss didn't like this (because the subsidized side was guaranteed income), and I was let go. We have a waiting list of over 2 years to get in the subsidized side, so those vacant units were full within 1-2 weeks. Of course, there was also costs incurred to rehab these units (which they would have never collected). In my defense, however, the property was getting cleaned up, the overall amount of calls for police service were reduced, Market tenants were happy that there wasn't trash all over the place, things were getting quieter, and just an overall tenant experience was getting better.
Occupancy and Accounts Receivable was monitored on a daily basis -- likely the reason used to let me go. Based on the resident feedback that I have received since my departure, I am convinced I did the right thing, regardless of what the Company says. I have my own rental properties myself, and I don't tolerate drug or criminal activity, period.
So, yes, USMCMP, you are right. Sometimes it is all about the almighty dollar. Shameful, but that's the way things can go sometimes.
Thanks for contributing.