When hiring a property management company you need to do your due diligence to be sure that you are dealing with a reputable company.
This article entitled “Woman Hired To Collect Rent Checks, Pockets Money” appeared on the News Channel 5 website on June the 16th, 2009:
‘CLARKSVILLE, Tenn. – A woman was hired to collect rent checks, but police said she pocketed the money instead of delivering thousands of dollars to property owners.
More than a year ago, Oscar Pancheco bought this home as rental property with the help of agent Gwen Abbott.
“Since I had known her for awhile and actually bought my house from her I thought we had a pretty good working relationship and to know that she sat there and lied to my face – it’s pretty upsetting,” said Pancheco.
Pancheco said he hired Abbott through her business ‘Real Living Properties’ to manage his Clarksville rental home. He said his relationship with Abbott changed when months went by where he never saw a rent check, even though the tenants had receipts of payment.
“They’re working hard to pay the rent I’m working hard to pay off my mortgage and then you’ve got somebody on the side collecting from both of us,” said Pancheco.
Clarksville police said Pancheco was not alone, that several other victims from Maryland, California, and South Carolina came forward with similar stories. They claimed they had also been ripped off $8,000 by Abbott.
Abbott moved the property management business to her home, where we were unable to get any answer at the door.
“I don’t think it’s fair, she’ll get what deserves in the end,” said Pancheco.
Police said Abbott was operating her business and acting as a Realtor on an expired license. Clarksville police arrested her last week on felony theft charges.
Detectives said there was no telling how many more victims are out there.’
I have all of my personal residential properties managed by Summit Property Management and my commercial properties are managed by Cumberland Commercial Partners.
