Diligent Property Management / Diligent Property Solutions

{Mods: posts split from another thread}

We are fully operational and doing great with our new systems Also exciting new service models for our clients. Will not expand as its not appropriate to promote a business as a member.

 

If you are up and operating again, does that mean all the people such as myself who lost thousands of dollars in rent due to your previous company being liquidated will be repaid?
It's a bit rich posting on here when you Owe thousands to many people. Care to share your side of the story since we all lost a lot of money?

 

We lost $46 k in lost income and assisted all individuals working with us to receive their funds from the frozen old trust account by the OFT.

We worked shifts at nights to fund the cost of re establishing a new business whilst working during the day as well. This is because we loved our work and wanted to set new systems right as per our wish from the start of the journey.

The core issue and our core learning was to trust to work in partnership with an external trust accounting specialist and to have the right software. We were working 14 hour days too afraid to outsource for fear someone would steal from our trust account. We are not specialist accountants and have learnt to outsource this which we have.

The old business was insolvent with our commitment to establish a new business with the right specialists working in partnership with us and with the right software.

This enables us to have a better work life balance and also to strengthen trust accounting software, systems and expertise.

It was due to the unwavering support of our owners and tenants that encouraged us to take the strength to move forward...we are most thankful for that.

From the dreadful experience we have learnt a lot and grown...humility is important when recovering from this experience.

Innovation has also emerged where our owners have broader PM service option available such as the full traditional PM service or a partial self management service where no weekly commissions are paid from rental income. Great for cashflow and great for owners with good tenants where owners can outsource PM activities as required at a very reasonable fee. We love supporting this cohort of owners with helpful advice as needed.

Our intention on the forum is to offer helpful comments and share and learn about our own investment property journey as fellow investors.

Really happy to be back with renewed energy, learnings and commitment o provide a great service to our clients.

We want to keep our ratio low of PM to number of properties to ensure we can be on the ground connecting with tenants, following up maintenance matters, inspecting properties, meeting owners etc.

Our half hour Open Homes with a sales approach has also ensured no long vacancies when comparing vacancy rates overall for properties time on the market. This stops owners losing thousands of dollars from lost rents.

In closing, it took courage to repost with more reasons not to however we decided to move forward with our commitment to apply our learnings into a strong future and most importantly offer a good service for the people we work in partnership with.

Cheers

Renee



Regards
Renee

 

Yes Kay Tea its a hard hit. Fortunately, our tenants are lovely

 

Stuff the tenants !

 

The tenants are caring really well for the properties which is a positive in a flat apartment market with rents sliding backwards. Situation could be worse...poor yield and poor quality tenants

 

If your back in business, and others are still at a loss, your doing the wrong thing, no matter how or where that money comes from, you have a responsibility to those people first.

Lucky I was not a client losing money, I would not play around with the toothless RTA or whatever.

You may be nice people, but that is beside the point.

I am very irritated your allowed here to continue to try and harvest clients, which is what you and many others are doing here.

And you thing the tenant is the important one ?

 

What part of stuff the tenants do you not understand ?

I am furious, and I am not a client, I am so perplexed that your allowed to even be here, mistake or malice, I do not care.

And you have the nerve to say the tenants support you....... my god.

 

Our core primary client is the owner and then the secondary client is the tenant.

 

Harvesting clients is not our focus.

I enjoy posting on this forum as I have done for almost ten years now as a Somersofter - offering helpful suggestions to others whilst concurrently learning from others as a fellow active investor.

We cap our properties with a very low PM to owner ratio hence do not need to 'harvest' lots of new clients - we will have a waiting list for if someone leaves to replace them with a new client though.

 

All owners received rents that were due to be disbursed by the OFT - the claim process was the OFT disbursing rental funds to owners that was still in the frozen trust account that has now been disbursed.

 

My apologies for being unclear, meant to offer more context - our tenants support our direction and recommendations as we work to build and sustain great relationships with tenants to achieve good outcomes for owners...apologies for vague post

 

Don't offer apologies to me, people say they are out of pocket still, spend your energy and funds on that & forget the tenant, they are contracted to pay for a supply of housing.

 

This is not correct. There was not enough money in the trust to pay everyone back. I'm out of pocket 3k due to this saga. To imply that everyone has been fixed up is rubbish.

 

You may have assisted the OFT but we have not received our payments. The poor accounting in your business "lost 46k" - this is woeful and we are still owed thousands as a result.
Posting on here about you overcoming your obstacles is an insult to people like me who trusted you to manage our properties in return for your management fees.
You may have had lots of hardship - as a result of your poor accounting, but the biggest losers in this are the innocent people like me who lost weeks of rent in this saga.
I chalked the whole thing up to experience and wasn't too phased but I'm genuinely annoyed that you post above that everything was fixed and it's all rosy.
I'll send you my bank details again if you'd like to fix me up for the few grand the tenant paid yet I never recieved when you went insolvent.
My question is - if the tenant paid and I never recieved it, who's pocket did it go into??

 

What's this story, I'm new to PC?

 

It is far from rosy. We are starting again.

Diligent Property Management is no longer an entity as is bankrupt.

People who steal from trust accounts go to gaol - we had poor systems in place that have been replaced. Please feel free to call us or private message if you wish to talk about the closed business some more.

 

So if no one stole the money, where is the thousands in rent that I am owed?
All I know is that I didn't get paid and it wasn't my fault. I definitely feel that someone stole from me.

 

Some owners were keen for us to request tenants to pay them directly within a self management model during the frozen trust account period where they took over responsibility to ensure rental payments were undertaken by checking their accounts each week...the rest of the owners had their rents disbursed by the OFT through the claim process. Happy for you to give us a call anytime to discuss any aspect of the closed old business.

 

And what about all those who are still out of pocket thousands?