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In no way do I intend to imply that your being an absentee landlord is a free pass to the property manager to defraud you.
You could be on the moon and their responsibilities would be unchanged.
I was just curious. And, I do recommend to clients who want to own residential rentals that they should own near home, near enough to check in on a whim.
I gotcha. And I definitely appreciate you taking your time to converse with me on this subject!!!
They weaseled out of taking responsibility by just straight up lying. They say that the 8 or 9 tenants never moved in, that they just 'stored their belongings in my apartments'. She found folks that were on parole and were in a halfway house and they filled out paperwork to leave the halfway house. The defense attorneys just said that the paperwork was 'whited out' in spots. The defendant says that she never collected any rent money from the folks she had living in my places.
The REC can review bank records and books. Your attorney should be able to request copies of the ledger. Or you can just cut your losses and move on. One my agents had a complaint filed 5 or 6 years ago for a listing agreement not being executed properly, and the first thing they did was request a copy of my bank records for the 2 previous years even though it wasn't a money issue. Fortunately I'm by the book and everything was in order, but they go after bank records and paperwork because it's easy to prove since you have evidence as opposed to he said/she said.
The REC can review bank records and books. Your attorney should be able to request copies of the ledger.
Sounds like it was a rogue individual, not the company. They likely accepted and pocketed cash; so nothing on the books. Without physical proof of this, you can't win in court.
Sounds like it was a rogue individual, not the company. They likely accepted and pocketed cash; so nothing on the books. Without physical proof of this, you can't win in court.
Yes, that is what is going on. But shouldn't the broker or the company be responsible for their work/business/clients' assets/contracts they have with property owners???
Yes, that is what is going on. But shouldn't the broker or the company be responsible for their work/business/clients' assets/contracts they have with property owners???
Also, the 'rogue' employee shouldn't have been able to perform for 13 months without going undetected by her boss/broker?!?!?
The REC can review bank records and books. Your attorney should be able to request copies of the ledger. Or you can just cut your losses and move on. One my agents had a complaint filed 5 or 6 years ago for a listing agreement not being executed properly, and the first thing they did was request a copy of my bank records for the 2 previous years even though it wasn't a money issue. Fortunately I'm by the book and everything was in order, but they go after bank records and paperwork because it's easy to prove since you have evidence as opposed to he said/she said.
The REC did their investigation and conducted their case and came to the conclusion that the licensee/thief/perpetrator would lose her license for unprofessionalism and the broker would not have a case brought against her by the REC. I do not know how intense of an investigation the REC did into the 'records and books' of the broker, her company and the licensee because I do not have access to that information. As far as the ledgers, they don't exist. The broker says the tenants were not "on her books" therefore there is no paperwork or ledgers she has for them.
Moving on is tough because my properties were my livelihood, but thank you so much for your input and kindness in your voice and you all for talking with me and not blaming me for them stealing my rent money.
What do you think about the main perpetrator (the one who did conducted all the bad actions/lost her license), currently working at a bank in the HOA area?
This. You've provided very little information as to contracts and what evidence that was presented in court.
We have not gone to the court trial yet because we got cancelled due to covid. We were supposed to go to trial in May. I am waiting to show you all the evidence/documents until our case is finished. You will then be able to really give me your thoughts on whether justice is served or not.
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