Stuart G Bku

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| map-marker Bel Air, Maryland

Poor Property Management

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I spoke with Patrick Kennedy of REMAX American Dream in early 2019 to manage an Baltimore Condo that I rented out. I purchased it for my mother. She passed away after living there 18 years. I rented it for 5 years after her death. I had no issues renting myself other than the time that it took to manage this rental, so I went to REMAX. Mr. Kennedy explained his fees and I told him that even with these fees, I could still make a small profit each month. The only thing that throw a monkey wrench into this plan would be a tenant who did not pay. Mr. Kennedy replied that "THIS NEVER HAPPENS" and when REMAX vets a tenant "YOU WILL NOT HAVE THIS PROBLEM". This was prior to the COVID crisis. Well this is exactly what happened, tenant paid a security deposit and a couple of other months. REMAX missed the chance to evict and then the COVID virus hit and evictions were stopped. REMAX assured me that they will sue and get all the money that is owed. I actually had to contact the tenant and got him to move out after 1 year. REMAX kept the security deposit, they kept the annual leasing fee that I paid even though only a couple of months rent was paid. REMAX kept a large part of the little rent that was paid as commission fees, late fees, legal costs, etc. REMAX collected commissions on rent that was not paid. Bottom line is for the year they made several $1000 and I lost over $4000. When I called months after the tenant left and how the lawsuit was going they told me that the letter they sent to the tenant was returned by the post office and they have no idea where now lives. They said don't call them again and should they find this guy they will call me. Don't let the fancy web site and smooth-talking sway you. The fees are high and REMAX will collect if their tenant pays or not.
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Loss:
$4000
Cons:
  • Charge for services when when rent was not paid

Preferred solution: Awaiting lawsuit on non paying tenant

User's recommendation: Keep in mind of whatg happends with delinquent tenants

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