PRECISION REAL ESTATE INC

While they were hired I would say they did an OK job, not by any means outstanding. They set me up in an online property management portal that had little to no accounting details. If I needed to get elaboration from them on accounting, I would always have to request a report. The tenants did complain about their level of interaction with the service personnel. They would make request several times for things to get done and management was slow to act. Also, one side of the duplex set vacant for about 4 months .. they didn't seem to be too interested in renting it. Plus on one occasion they said someone had put $500 mid-month to hold it so they could start renting the next month, but the company never gave me the $500 ... they said the decided against renting it, but that was earnest money to hold the rental, which should have been forfeited if the potential tenant balked. The real problem with this company is in regards to my agreement with them to keep late fee accounting separate from the general ledger. I had an agreement with them such that late fees would not be deducted from the rent paid me if the tenant did not pay the late fee. Our agreement stated that all late fees would be collected and retained by the management company, which was fine with me, it's just that I don't want the late fee to come out of rent due to me if the tenant does not pay the late fee. Which in effect is the me, the property owner winds up paying the late fee to the property management company for my tenants --- ridiculous! Imagine this: rent is $800 which is paid late by a couple of days, their late fee was $85. So the tenant pays the rent late, but decides they don't want to pay the late fee. Guess what, me the owner gets $715 - essentially I paid the management company the late fee FOR MY TENANT. This is what happens if late fees are kept in the accounting with the owner's general ledger. And it happened with them when I decided to manage the property on my own. The last statement I got from them and the last check had all the uncollected late fees that the tenant did not pay to them taken out of the rent owed to me. I still feel myself getting angry over this type of situation. It happened with a property manager once before with me. They had a $750 deposit on their books for one side of the duplex which they deducted the late fees from. The last check to me was $370, not even enough to pay the tenant back their deposit . Don't hire this company to manage your property.