Cobblestone management group

Dear Revdex.com,In reference to the complaint of *** *** regarding our property management agreement, we do not dispute the delay in payments or the amount of deposits made to *** being short of his expectationWhat we do dispute is his knowledge of these actions and his authority
provided to Cobblestone Management Group to deduct expenses via the management agreementSpecifically “Section ARESTRICTION on AGENTS AUTHORITY: It is further expressly understood and agreed between OWNER and AGENT as follows: A, Without the written approval and consent of OWNER, AGENT shall have no power or authority to make any structural changes, major alterations or major repairs to the Property, involving a total cast or expense to Owner in excess of Three Hundred Dollars ($300.00) except where such charges, alterations or repairs are necessary or proper, in the AGENT'S sole opinion and discretion, to avoid damage or destructions of the Property, to preserve the health and safety of any tenants in the Property or to fulfill any duties and responsibilities of either OWNER or AGENT under the Deed of Lease for the Property."At no time did the expense amount deducted from the rent received, in addition to the management feeexceed $threshold without ***'s knowledge or approval.Regarding the delay in payment*** was present at the lease signing with the current tenant, where *** agreed to receive the rent payment split in payments on two dates, the beginning of the month and the middle of the monthHe was also aware that Cobblestone Management would hold payment 5-days to ensure the payment cleared the bank before paying out the ownerAfter late payments from the tenant, causing payment to the owner to be delayed longer than usual and discussion with the ***’s, Cobblestone Management proactively took steps to change the payment arrangement with the tenantPayment is now' received the first Friday of each monthThis change has been communicated to *** and payments made to him accordinglyA monthly payment has NEVER been missed being paid to ***The “flux” described in the complaint is a direct result of terms agreed to by *** in an effort to work with the tenants ability to pay the rent.It is the position of Cobblestone Management Group that this issue has been satisfactorily resolved

Review: We agreed Cobblestone Management would manage our property around May 2012. Starting in October 2012 Cobblestone Management group began depositing our payment after the agreed upon date. On more than one occasion the agreed on rent amount was short. We would find out after the fact that the issue had arisen with the property and the money had been deducted from the rent. Finding out after the fact is unsatisfactory. Now, 19MAR14, with rent do by the 6th and still no payment. Over the past 24 hours we have written Cobblestone Management and received no response. We are paying for a service and a quality service isnt being returned. We are in constant flux as to when we will receive our payment from our rental property. I have written Cobblestone Management group multiple times notifying them of a missed payment. The excuses range from technical issues to "I thought it was done already". As a customer who is paying for their service I shouldnt be held responsible to notify them of missed deadlines. I thought this issue was settled when Cobblestone moved to a new payment schedule, it isnt.Desired Settlement: I would like to be released from the remainder of the contract.

Business

Response:

Dear Revdex.com,In reference to the complaint of **. [redacted] regarding our property management agreement, we do not dispute the delay in payments or the amount of deposits made to **. [redacted] being short of his expectation. What we do dispute is his knowledge of these actions and his authority provided to Cobblestone Management Group to deduct expenses via the management agreement. Specifically “Section 5 A. RESTRICTION on AGENTS AUTHORITY: It is further expressly understood and agreed between OWNER and AGENT as follows: A, Without the written approval and consent of OWNER, AGENT shall have no power or authority to make any structural changes, major alterations or major repairs to the Property, involving a total cast or expense to Owner in excess of Three Hundred Dollars ($300.00) except where such charges, alterations or repairs are necessary or proper, in the AGENT'S sole opinion and discretion, to avoid damage or destructions of the Property, to preserve the health and safety of any tenants in the Property or to fulfill any duties and responsibilities of either OWNER or AGENT under the Deed of Lease for the Property."At no time did the expense amount deducted from the rent received, in addition to the management fee. exceed $300.00 threshold without **. [redacted]'s knowledge or approval.Regarding the delay in payment. **. [redacted] was present at the lease signing with the current tenant, where **. [redacted] agreed to receive the rent payment split in 2 payments on two dates, the beginning of the month and the middle of the month. He was also aware that Cobblestone Management would hold payment 5-7 days to ensure the payment cleared the bank before paying out the owner. After late payments from the tenant, causing payment to the owner to be delayed longer than usual and discussion with the [redacted]’s, Cobblestone Management proactively took steps to change the payment arrangement with the tenant. Payment is now' received the first Friday of each month. This change has been communicated to **. [redacted] and payments made to him accordingly. A monthly payment has NEVER been missed being paid to **. [redacted]. The “flux” described in the complaint is a direct result of terms agreed to by **. [redacted] in an effort to work with the tenants ability to pay the rent.It is the position of Cobblestone Management Group that this issue has been satisfactorily resolved.