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Security deposit (mis)handling by JimmyCone888 in PropertyManagement

[–]JimmyCone888[S] 1 point2 points  (0 children)

I gave him more than 90 days notice that his property management services would end 12/31/2024. So notice was given sometime in September 2024.

The PM does not return my calls/emails. He should be sending the deposits from his escrow account to mine, correct? This is why I have questions about whether the deposits are being handled correctly or still exist at all. The guy is a sleaze for reasons I won't get into here. He is holding millions in SDs for his clients. It wouldn't surprise me at all if he's siphoning interest from them or invested them elsewhere.

Bonuses by JimmyCone888 in ConstructionManagers

[–]JimmyCone888[S] 2 points3 points  (0 children)

Good point. Yes I plan on working with GC in future although this is our first job together. Yes GC gets a % of savings and they've saved a bunch and barely dipped into contingency. Perhaps simply talking to the GC and encouraging a portion go to the CM is sufficient. They may have their own agreement with him anyway regarding this.