It’s been a few weeks since our last post. Close to a month actually. There’s no real reason other than a big schedule change in our professional lives that has disrupted the flow of our personal lives. Due to this change, time has no meaning anymore (or at least until the schedule reverts back). 

In my last post, I discussed how we were about to close. There was one last minute hiccup with the closing and we were unable to close in the name of the trust. I think they called to tell me at 4 PM the night before so we just rolled with it and closed in my name. Immediately after closing, I transferred the deed over to the trust and sent it to the escrow office. Unfortunately, that little snafu has had a rippling effect on our experience.

For both houses, the biggest headache has been the property management company. That should not be a surprise. There are books written on how to self manage a property and it’s the number one concern brought up to me when I talk about REI. But I reached a point today where I reached out to Adam, our contact at Rent to Retirement, to ask if they could recommend a different company.

The issue we’re facing now is that we have not even signed a property management agreement for the second property. Which means, almost a month later, we cannot even sign a lease with a tenant through that company. The property management company (hereafter, PM) won’t send the agreement for two reasons. The first is that the new deed does not show as recorded on the county website and they do not want to send it until the property is listed under the name of the trust. The second is that the PM doesn’t seem to understand the role of the trustee and thinks our trustee now owns the property. I explained that she is just a representative and that I own the trust (or rather our revocable living trust is the beneficiary, but that seemed like an unnecessary level to explain). The PM is unsure who owns the property apparently (it’s me, there’s no question).

This is an annoying and ultimately costly delay. Hopefully, it will be all wrapped up in the next day or two when the county website shows the trust as the owner. And as annoying as it is, this is not the reason why I want to try another property management company. 

I want to try a new company because communication with our current PM has been awful. I’ll call and leave voicemails and sometimes get emails back. Somehow I was lucky enough to get a phone call today. However, a point was reached where I needed more information from a 3rd party. I said I’d call back in 10 minutes and the PM assured she would be awaiting the information. I left a voicemail and never heard back from her. Hopefully I hear from her tomorrow.Between being unable to have a conversation when I have a question, or even in order to answer their questions, and them failing to issue a refund we were promised in May, I’m pretty done with this company. Adam sent another company and unless this is all resolved by tomorrow (or more realistically, Friday), I’m switching over. The idea of REI is to be passive, which it decidedly is not right now. 

Between being unable to have a conversation when I have a question, or even in order to answer their questions, and them failing to issue a refund we were promised in May, I’m pretty done with this company. Adam sent another company and unless this is all resolved by tomorrow (or more realistically, Friday), I’m switching over. The idea of REI is to be passive, which it decidedly is not right now.