What constitutes mismanagement by property mangagement firm

[zioneye]

I own a rental home and approximately a year ago I entered into an agreement with a property management firm to handle managing it. The agreement states that they handle all aspects of obtaining tenants, running reference and credit checks, inspections etc. Since the tenant has moved in (over 7 months ago) only 1 months rent has been obtained, today the tenant was evicted and it appears the tenant was never credit worthy. I obtained a court judgment that most likely will never be satisfied because he is and was on disability. Other factors lead me to believe the property has been mismanaged and I'm trying to determine if I have grounds for a lawsuit against the management firm.

I have correspondence from the firm stating they stand by their selection of the tenant and where they were going to evict him several months ago etc. I think they took a chance hoping the tenant would work out and didn't do their homework which has lead to my not being able to earn income on my investment.

Any advice is appreciated.

ZE

 

[Gail_in_Georgia]

You didn't notice that rent was not collected for six months?

Gail

 

[zioneye]

Yes I did. There is a lot more detail to the situation than what I placed in my post including the terms of the agreement. I'm not sure how you think your comment would be helpful in answering my questions.

 

[army judge]

I own a rental home and approximately a year ago I entered into an agreement with a property management firm to handle managing it. The agreement states that they handle all aspects of obtaining tenants, running reference and credit checks, inspections etc. Since the tenant has moved in (over 7 months ago) only 1 months rent has been obtained, today the tenant was evicted and it appears the tenant was never credit worthy. I obtained a court judgment that most likely will never be satisfied because he is and was on disability. Other factors lead me to believe the property has been mismanaged and I'm trying to determine if I have grounds for a lawsuit against the management firm.

I have correspondence from the firm stating they stand by their selection of the tenant and where they were going to evict him several months ago etc. I think they took a chance hoping the tenant would work out and didn't do their homework which has lead to my not being able to earn income on my investment.

Any advice is appreciated.

ZE

You have elements of a lawsuit.
Your best bet is to speak with a local attorney for additional guidance.
A word of caution - I'd sue them both.