Property manager won’t be getting a good referral

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Question: I have recently inherited a property from my deceased father and have uncovered that several of my tenants haven't been paying rent over the last few months. Also, the property manager who was supposed to be taking care of everything never bothered to do anything about it. We also discovered the property manager's assistant was stealing money from our account. We also believe they have been fraudulently billing us for contractor's work that hasn't been performed. What should I do? Property manager Griswold replies: It is important that you have a company that you trust acting as your property management agent, and it appears that you have no basis to continue with your current company. My suggestion is that you need to proceed cautiously, and carefully review your management contract and understand the terms and conditions and the proper procedure to terminate the contract. You also need to make sure you have all financial reports and copies of rent rolls, invo...