I have been working with McCaw Property Management since September of 2015. They managed 11 of my properties throughout that time. Until September of 2017, there was generally a productive and positive relationship. The team at McCaw was generally responsive and quick to correct issues.
On April 6th, McCaw Property Management terminated their property management services with me due an invoice issue in January of 2018. I state this to be fully transparent as I was going to provide a 30-day notice to terminate their services with my properties due to the he issues I will outline below. I will also state, that Kyle McCaw was copied on most of the issues detailed below and did not respond until April 6th, 2018 at which point, his only communication was to end the partnership. I should also note, I have emails supporting the issues below both internally, Fort Worth Housing Solutions and the City of Forest Hill.
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OWNER STATEMENTS
From September of 2015 thru December of 2016, owner statements were generally received by the 16th of the month with a few arriving a day or two later. Payments would follow within a few days of each owner statement. Beginning, in January 2017, owner statements were not being received on a consistent schedule. Some would arrive on or about the middle of the month, while others would not be received t until the end of the month, The last three months, the owner statements were received during the last week.
In 2018, this trend continued, I received January's statement on 1/31, February on 2/23, March on 4/2 and April on May 3rd. I will grant a little leeway on the May statement as this was last one from McCaw. In fact, due to the lateness of the January 2018 statement, McCaw Property Management made a special deposit so that I would receive the funds faster for mortgage payments.
Further, most Statements had some kind of error, either in my favor or in McCaw's favor. When I brought these to the attention of McCaw, they were again quick to resolve the issue, but I had to go through each statement to ensure they were accurate. The last statement in May 2018 contained errors of over $2000.
Apparently, McCaw Property Management completed a system changeover that changed the Management Fee from 7% to 8%. When I brought this to the attention of McCaw Property Management, they acknowledged the error and made the corrections on the next statement in February. I also experienced issues with reconciling my owner's payment with the new Owner Statements and was never successful with matching the owner statement with the actual payment.
PROPERTY #1
In September of 2017, McCaw Property Management, allowed a tenant to pay their September rent later in the month. Needless to say, the tenant ultimately did NOT pay their September Rent and did NOT pay their October Rent. An eviction notice was filed and tenant was subsequently removed from the property order of the constable early in December 2017.
The make ready of the property was delayed due to a change over in personnel at McCaw Property Management and took a bit longer than it should have. McCaw Property Management recognized the internal issues and the delay in the make ready and offered to NOT take a leasing fee when the property finally did get leased. Though the waiving of the leasing fee was helpful, I did lose almost 5 months rent.
PROPERTY #2
In June of 2017, Property #2 received an inspection from the city as part of a normal rental inspection process. The due date for completed was July 24th, 2017. Repairs were not completed - but the city did NOT re-inspect until 12/4/2017 at which point the rent payments from the Fort Worth Housing Solution, were abated until the repairs were completed and verified. FWHS sent an email to McCaw Property Management on 12/4 and they did NOT respond until January 3rd, 2018. Apparently, McCaw Property Management changed their email address and this new email address was not on record with FWHS.
The repair and inspection were ultimately completed and the FWHS rent payments began again January 23, 2018.
PROPERTY #4
In late March, McCaw approved a tenant for this property. Prior to the occupancy, the city will do an inspection. In this particular case the inspection was completed on 4/5/2018 and as of 4/12, the issues noted by the inspector were not yet corrected. These were very small issues and were completed in less than one hour by a handyman I had procured. I only found out about the issues with the inspection, because the tenant could not wait any longer for the repairs to be made and as a result the tenant leased with someone else.
Though the early part of the relationship generally worked well, I felt the # of issues I experienced warranted a change in partners related to the management of my properties. read more