Where should I begin? For the past 3 months (since June 1, 2010 actually) we have been dealing with a very sticky financial issue, all having to do with the MH Park that we have owned and operated for over a decade. The bank foreclosed on the Park on June 1, 2010. All attempts to solve the shortage in payments were denied. A new management company was hired to manage the Park. We still own the majority of homes in this Park. These were not foreclosed. So here we are, owning the homes and not the lots they sit on.
This “new” company, from Michigan, has no clue about how this Park was operated. So, to begin with, they seized all of the funds collected and to this day have not given us a full accounting of the monies collected from our tenants. For one month this amounts to thousands of $$. Nor have they provided us with a late tenant list so we can collect our delinquencies.
Into a third month (August), still holding our funds for home rents and six weeks of utility payments for which we are responsible. Therefore, we are behind in the utility payments we are responsible for (April 17 through May 31) being billed to us through the utility companies. The worst part is that we cannot pay our lien holders on these homes.
Over the last 2 months we have received eviction notices for all the homes we own that they claim are behind in rents. Then, they also had the nerve to send those same notices to our lien holders.
We have Section 8 tenants in some of those homes. This management company has said to some of those tenants that they will not honor those Section 8 contracts. They can’t do that by the way. They must honor them. Now Section 8 is holding all payments until this is settled.
The management company originally hired Tom to help in the “transition”. After 1 week they told him to leave the premises. It took them 1 month to pay him the agreed upon fee. And they have told him not to set foot in the onsite office. They take pictures of him while he is contacting tenants or trying to solve maintenance problems in the homes. We have had many of our tenants move out due to their unresolved problems or intimidation tactics by this new management.
Do the owners (B of A) know what’s happening to their property? Hell if I know, but I suspect not. Do they want to put us out of business? One might think so. Is there a little stupidity here? Or is it just plain vindictiveness? Yes, I really am taking this personally.
We have set up a collection center in one of our homes so that we can have a place for our tenants to pay their home rents. Yet, they are still being told they have to pay ALL their rent to the new management.
We have sought legal help. Last week the management company and servicing company were sent a notice of our intention to obtain a temporary restraining order. Before this was delivered we had not heard one word from their offices in response to our attorneys attempts to get a response from them for anything. The TRO told them we meant business. Hours before it was filed, there was a conversation between lawyers, setting up a conference call with attorneys, servicing company and their management company. It looks like they want to avoid a lawsuit. We should know more on Monday or Tuesday.
The entire situation is just bizarre. That management company even has the nerve to put 11 of our homes up for sale!! Who do they think they are?!!
Now I have to let it go.
