Desert Investment Advisors

The attached Mutual Release was signed by both parties in this case DIA refunded half of the cancellation fees to the client This resolution was satisfactory to all parties and the complainant indicated that he would dismiss or indicate to Revdex.com that he was satisfied with the resolution if asked

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed a
The settlement date stated in Desert Investments response has already passedNow I am being told that I will be required to doccu-sign a release to get my fundsThis document could have been taken care of during their day delay tactic not the day after they stated payment would me made to me. The response that Desert Investment provided is irrelevent jibberishBouncing a check from a trust account is pure miss management of funds. Desert Investments is required to give the owner days notice before extending a leaseIt is not the owner who had plenty of time as they responded. Not doing inspections and claiming to save me money is not acceptableI have managed rentals for years and renters having a good payment record has absolutely nothing to do with how well they take care of the propertyTwo years have gone by and the condition of the property has never been looket at. Desert Investments is in breach of code tract and has not eared the early cancellation fee they are claiming not to mention that they are not returning money that is not disputable like the renters deposit and the reserve for maintenance funds
Regards,
*** ***

Thank you for bringing this former tenant's concerns to our attention The refund of a security deposit is probably one of the most contentious issues in property management In this case DIA began management of this home with the tenant in place Prior management did provide us
with a mochecklist, and I used it to compare it to current condition I attach pictures of condition at move-out, which included excessive trash and garbage left at the property, patio posts eaten and chewed by a pet and excessively dirty appliances, among other things Charges to repair these items were assessed against the deposit on a tenant ledger and sent to the tenant within business days of demand.Subsequent to the assessment, I did notice that the tenant noted on the mosheet that the first floor carpets were dirty, a charge that we assessed for However, also subsequently, we now see the owner has had to power-wash the garage floor to remove excessive oil stains as well as remove weeds from front and back yards.Considering the evidence shown on the mochecklist we believe that a full forfeit is still a fair solution for all involved, however, if your office believes we should arbitrate these findings (given the evidence I share here) I will be happy to cooperate

Thank you for bringing this client's concerns to our attention. It is clear in our management agreement that a line-item disbursement may be withheld if we as managing agents have information that might cause the subsequent months' final balance to become negative (in other words, incurring
expenses that will exceed the rents collected). We made it clear to this owner that the tenant was running delinquent and that we needed to void prior disbursements to pay for legal expenses and costs of eviction. We have made a disbursement to clear this clients account, less amounts needed to pay for the costs of removing the tenant from the property.We would be happy to answer any further questions you might have about this case

Thank you for bringing this customer to our attention. We try to honor our contractual obligations, in fact we have to. When we collect rent we are obliged to use the funds first to maintain the property (because we do not collect large maintenance deposits from our owners), then to
account for it (making sure checks are not returned, etc.), then to issue a statement to the owner and then to disburse to the owner what is on the statement. We do this successfully hundreds of times per month.The management contract is very specific -- the disbursement occurs after the accounting process has completed, and only if there are no circumstances which could overdraw the owner's account after the disbursement has occurred (such as replacement of an air conditioning system, for example). While the accounting process usually completes on the last day of the month, it doesn't have to. All open maintenance work orders also need to be compared to what is planned to be paid out, so no owner account is overdrawn. The management contract cannot state, specifically for example, that the owner disbursement must be paid out so the owner can meet his mortgage payment. Management companies in Arizona are firstly responsible for maintenance of the property (jointly with the owner), and that is sometimes not understood by the general public. Having to maintain the property in an emergency situation can overdraw an owner's account, and that is the next biggest problem: it can never, or isn't supposed to - occur. (Sometimes we're obligated to use our OWN funds to make sure repairs are completed so we can meet deadlines and a tenant move-in. As I recall we generously made this arrangement with this particularly owner.)Desert Investment Advisors is properly licensed and has a Designated Broker. *** *** is an employee of the firm and is not licensed and is not required to be.We understand that the complainant did not receive a disbursement in January, and when he made us aware of it we promptly remedied it on February 5. Our overall performance, however, has been compliant and we do not believe, other than what we paid to the owner on February 5, that further restitution be made.Please contact us again if we can give you any contract copies, canceled checks, proof of *** payment, etc.Desert Investment Advisors

I would recommend that anyone who is contemplating doing business with Desert Investment Advisors first go to the Arizona Department of Real Estate and check out the company CEO - *** ***'s record as a real estate brokerHis license (now revoked) is BR**SSN**It will definitely make you change your mind

We were leasing a home from Desert Investment Advisors and had an absolutely horrible experience dealing with them. They do not return calls or emails, did not fix items in the home, and were extremely difficult to get a hold of. When we left the home after 6 months, there were still items that needed to be fixed when we had moved in. I would absolutely not recommend them.

DIA is in receipt of the above-referenced complaint, and responds below and references the attached property management contract of October 18, 2011.
 
1. Returned check.  DIA maintains a trust account at [redacted] and is willing to show balances and ledger reports to anyone...

of authority at Revdex.com who would like to view them.  DIA maintains a secondary trust account at [redacted] for the purpose of using that institutions ACH payment services. We did inadvertently issue a check from this account to Mr. [redacted] account that was not honored.  We promptly replaced it with an added $24 fee. DIA balances its trust account in accordance with Arizona statutes every 30 days and makes adjustments per these statutes.
2. 30-Day notice to renew.  Paragraph 4 of the contract is clear that the agent may execute leases in the owner's best interest to obtain the highest rent obtainable.  The tenants are excellent and we have renewed the lease to expire on January 31 of each of the last two years, plus January 31. 2015.  The owner has ample time throughout any given lease year to notify us of his intent not to renew.
3. Inspections. Paragraph 23 outlines DIA's inspection service, which is implemented at our discretion and bears a cost to the owner. In this case of a cost-conscious owner who has excellent tenants in place we chose to save the owner $300/year by not performing the inspections because the tenants ' payment patterns and willingness to report problems were excellent.
4. Owner payments.  Cash disbursements are made to clients once all bills have been paid and management fees calculated, per Paragraph 22.  Our accounting period ends on the last day of each month, which makes owner draws available at the beginning of the following month.  The owner makes reference to an Arizona statute that applies time limits to the depositing of tenant rents by proper ty managers into their trust account , which does not apply to property manager net payments to an owner.
The owner has canceled the property management contract effective September 1, 2014. Paragraph 19 governs the timeliness of final owner payments to protect all parties, this per Arizona statutes. 19(A) and 19(B) apply to this contract , with the final disbursement due by October 5, 2014. The final disbursement will include the final month 's rent less any applicable fees per the contract as well as the security deposit.
I believe DIA has conducted itself properly pursuant to the governing property management contract. I also believe we have made amends for any errors.
Please contact me again should you have any further inquiries.
Sincerely,
[redacted]

The attached Mutual Release was signed by both parties in this case.  DIA refunded half of the cancellation fees to the client.  This resolution was satisfactory to all parties and the complainant indicated that he would dismiss or indicate to Revdex.com that he was satisfied with the resolution if asked.

Thank you for bringing this client's concerns to our attention.  It is clear in our management agreement that a line-item disbursement may be withheld if we as managing agents have information that might cause the subsequent months' final balance to become negative (in other words, incurring...

expenses that will exceed the rents collected).  We made it clear to this owner that the tenant was running delinquent and that we needed to void prior disbursements to pay for legal expenses and costs of eviction.  We have made a disbursement to clear this clients account, less amounts needed to pay for the costs of removing the tenant from the property.We would be happy to answer any further questions you might have about this case.

Thank you for bringing this customer to our attention.  We try to honor our contractual obligations, in fact we have to.  When we collect rent we are obliged to use the funds first to maintain the property (because we do not collect large maintenance deposits from our owners), then to...

account for it (making sure checks are not returned, etc.), then to issue a statement to the owner and then to disburse to the owner what is on the statement.  We do this successfully hundreds of times per month.The management contract is very specific -- the disbursement occurs after the accounting process has completed, and only if there are no circumstances which could overdraw the owner's account after the disbursement has occurred (such as replacement of an air conditioning system, for example).  While the accounting process usually completes on the last day of the month, it doesn't have to.  All open maintenance work orders also need to be compared to what is planned to be paid out, so no owner account is overdrawn.  The management contract cannot state, specifically for example, that the owner disbursement must be paid out so the owner can meet his mortgage payment.  Management companies in Arizona are firstly responsible for maintenance of the property (jointly with the owner), and that is sometimes not understood by the general public.  Having to maintain the property in an emergency situation can overdraw an owner's account, and that is the next biggest problem: it can never, or isn't supposed to - occur.  (Sometimes we're obligated to use our OWN funds to make sure repairs are completed so we can meet deadlines and a tenant move-in.  As I recall we generously made this arrangement with this particularly owner.)Desert Investment Advisors is properly licensed and has a Designated Broker.  [redacted] is an employee of the firm and is not licensed and is not required to be.We understand that the complainant did not receive a disbursement in January, and when he made us aware of it we promptly remedied it on February 5.  Our overall performance, however, has been compliant and we do not believe, other than what we paid to the owner on February 5, that further restitution be made.Please contact us again if we can give you any contract copies, canceled checks, proof of [redacted] payment, etc.Desert Investment Advisors

The attached Mutual Release was signed by both parties in this case.  DIA refunded half of the cancellation fees to the client.  This resolution was satisfactory to all parties and the complainant indicated that he would dismiss or indicate to Revdex.com that he was satisfied with the resolution if asked.

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed a

The settlement date stated in Desert Investments response has already passed. Now I am being told that I will be required to doccu-sign a release to get my funds. This document could have been taken care of during their 30 day delay tactic not the day after they stated payment would me made to me. The response that Desert Investment provided is irrelevent jibberish. Bouncing a check from a trust account is pure miss management of funds. Desert Investments is required to give the owner 30 days notice before extending a lease. It is not the owner who had plenty of time as they responded. Not doing inspections and claiming to save me money is not acceptable. I have managed rentals for 30 years and renters having a good payment record has absolutely nothing to do with how well they take care of the property. Two years have gone by and the condition of the property has never been looket at. Desert Investments is in breach of code tract and has not eared the early cancellation fee they are claiming not to mention that they are not returning money that is not disputable like the renters deposit and the reserve for maintenance funds.

Regards,

DIA is in receipt of the above-referenced complaint, and responds below and references the attached property management contract of October 18, 2011.

 

1. Returned check.  DIA maintains a trust account at [redacted] and is willing to show balances and ledger reports to anyone...

of authority at Revdex.com who would like to view them.  DIA maintains a secondary trust account at [redacted] for the purpose of using that institutions ACH payment services. We did inadvertently issue a check from this account to Mr. [redacted] account that was not honored.  We promptly replaced it with an added $24 fee. DIA balances its trust account in accordance with Arizona statutes every 30 days and makes adjustments per these statutes.

2. 30-Day notice to renew.  Paragraph 4 of the contract is clear that the agent may execute leases in the owner's best interest to obtain the highest rent obtainable.  The tenants are excellent and we have renewed the lease to expire on January 31 of each of the last two years, plus January 31. 2015.  The owner has ample time throughout any given lease year to notify us of his intent not to renew.

3. Inspections. Paragraph 23 outlines DIA's inspection service, which is implemented at our discretion and bears a cost to the owner. In this case of a cost-conscious owner who has excellent tenants in place we chose to save the owner $300/year by not performing the inspections because the tenants ' payment patterns and willingness to report problems were excellent.

4. Owner payments.  Cash disbursements are made to clients once all bills have been paid and management fees calculated, per Paragraph 22.  Our accounting period ends on the last day of each month, which makes owner draws available at the beginning of the following month.  The owner makes reference to an Arizona statute that applies time limits to the depositing of tenant rents by proper ty managers into their trust account , which does not apply to property manager net payments to an owner.

The owner has canceled the property management contract effective September 1, 2014. Paragraph 19 governs the timeliness of final owner payments to protect all parties, this per Arizona statutes. 19(A) and 19(B) apply to this contract , with the final disbursement due by October 5, 2014. The final disbursement will include the final month 's rent less any applicable fees per the contract as well as the security deposit.

I believe DIA has conducted itself properly pursuant to the governing property management contract. I also believe we have made amends for any errors.

Please contact me again should you have any further inquiries.

Sincerely,

Thank you for bringing this former tenant's concerns to our attention.  The refund of a security deposit is probably one of the most contentious issues in property management.  In this case DIA began management of this home with the tenant in place.  Prior management did provide us...

with a move-in checklist, and I used it to compare it to current condition.  I attach pictures of condition at move-out, which included excessive trash and garbage left at the property, patio posts eaten and chewed by a pet and excessively dirty appliances, among other things.  Charges to repair these items were assessed against the deposit on a tenant ledger and sent to the tenant within 14 business days of demand.Subsequent to the assessment, I did notice that the tenant noted on the move-in sheet that the first floor carpets were dirty, a charge that we assessed for.  However, also subsequently, we now see the owner has had to power-wash the garage floor to remove excessive oil stains as well as remove weeds from front and back yards.Considering the evidence shown on the move-in checklist we believe that a full forfeit is still a fair solution for all involved, however, if your office believes we should arbitrate these findings (given the evidence I share here) I will be happy to cooperate.