Property Management
Performance Asset Management LLCComplaints
Customer Complaints Summary
- 16 total complaints in the last 3 years.
- 3 complaints closed in the last 12 months.
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Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:10/04/2022
Type:Billing IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am a former investor/client seeking to have my remaining credit balance returned to me ($1518.04). This balance represents rents collected from prior tenants and account contributions from me, less fees/expenses charged by PAM. I have attempted to contact ************************* (a representative of the company) and I have also called/texted the companys direct line as listed on their website. Please note that when calling PAMs direct line, you are instructed to either leave a voicemail or a text message that will be acknowledged in 24 hours. I sent text message to **** on 9/28 and another to the companys direct line on 9/29 to ensure that there is proper audit trail of the timing of communications. Neither **** nor the company has acknowledged my messages.Additionally, my investor portal login is no longer active for me to leave a message. However, I saved a copy of my account dashboard as of 9/21 displaying my credit balance. I will also note that during the brief period that I was a client, communications with me and with prior tenants was poorly managed, and always required multiple follow-*** for responses. Tenants continued to receive messages of unpaid rent and late fees that were sent in error, even after I contacted PAM to correct in their system. I have saved all messages exchanged in the investor portal during my time as a client as well as messages from tenants to substantiate this commentary. I would appreciate a response and my balance returned so that this situation can be resolved amicably.Business Response
Date: 11/23/2022
Hello,
All available funds were transferred over to owner during the scheduled monthly draw on October 10, 2022. All owner payments are transferred over once a month on the 10th of every month.
PAM is a digital company and conducts daily communication online via the portal, or email at **************************************** and responds within 1-2 business days. Portal was disabled as the contract had ended. Our records show that all funds were paid out in full last month.
Thank you,
PAM Team
Initial Complaint
Date:09/14/2022
Type:Order IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
We have emplyed PAM over the past few years to manage a property we own at *******************************. Due to negligant care of the property, questionable expense charges and poor communication we notified PAM on 8/25 of termination of services. I am taking over the management of this property and requested all paperwork and keys necessary to take over the management of this property. Specifically I requested leases, onboarding paperwork with documentation of the units, contact information for tenants, keys to the proeprty, proof of insurance documentation etc. Normal information that would be shared with a new property manager.After I inquired several weeks later I was sent the names of the current residents, an onboarding documentation from a tenant who hadn't lived at the property for over two years and a lease for tenant who had left. There was nom mention of how to access the property. I contacted PAM and they said an error was made. I was sent current leases and told they were checking on the keys. A week later I still don't have the keys. There was no onboarding documentation. When I inquired they said the tenant must not have completed the form. I can't believe there is no documentation stating the condition of the unit upon starting the lease. This is unacceptable on any level and PAM is obviously stalling in providing me information. I can not make a smooth transition without all the information and as "professionals" in the industry they know how this works, or should know. Adddionaly the business kept the security depost as a fee for a new tenant when the agreement we signed says that if a residents does not stay two years they do not charge a fee. The past resident only stayed one year.Customer Answer
Date: 09/29/2022
I have heard from the company. The owner called me on 9/16/22 and we discussed my complaints. He told me he would be working Friday night and Saturday and would follow up with me which he never did.The company did send me the keys to the units. Outstanding is an issue with the security deposit for the lower unit. I also received copies of the lease and move in information.Our agreement states that if tenants do not stay for two years that the management fee is waived (this amounts to the security deposit amount). The tenants in the lower uit did not stay for two full years and PAM kept the security deposit as a management fee. I first notified PAM of termination of services on 8/25. There has been plenty of time to refund the security deposit AND pay us any monies held for expenses. PAM has not done this.This whole process has been difficult and I have had to persistently follow up with promises of getting back to me and no follow up from PAM.--How You Train Makes the Difference!!
**************************, Founder and Head CoachBusiness Response
Date: 10/20/2022
*****,
1. In August you repeatedly requested personal contact and application information for the residents at the property, which we refused to provide due to privacy and communication standards. After you continued to push back, we suggested you begin searching for a new property manager. Not all client relationships work out. We were grateful for your business. Based on your requests we were not the right company and felt it was best to transition you out of PAM.2. We rectified and resolved all billing errors and/or charge grievances during our management of the property which were few and far between over the course of 4 years.
3. All security deposits were transmitted to appropriate parties.
4. All requested documentation was provided. As previously mentioned to you, the residents were sent a check in form upon their move in, but never returned the form to us. We provided you timestamps and screenshots of this.
5. Keys were mailed out to the address you provided.
6. Overall, we successfully managed the property since late 2019, placed high quality residents with limited vacancy and provided consistent monthly income. We wish you the best on your real estate journey.
Customer Answer
Date: 10/20/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
Pam is delusional in how they think they managed the property. The landlord has the right to know who resides in their place of residence. You sited Privacy Laws but don't state the law (because there isn't one). All management companies provide copies of applications to owners of the property.You did not succesfully mange the property. You over charged for services, allowed for duplicate bills to be made which I had to catch, the resident in the lower unit trahsed the blinds and didn'tn pay for the last months rent. The current resident tried to get these replaced and you didn't respond to them. I just paid to have them replaced at a cost of $408. This is something you should have managed. The furnace in the basement was last serviced in 2012. Twice I had to notify you that the lawn was not being taken care of, once after the city of M<******** sent my mother a letter. So don't kid yourself that you did a good job.
It took me two months of arguing with you to start to return the security deposit which you INCORRECTLY kept. I can't begin to tell you how many times you told me it was returned and it wasn't. Just last week you told me it was paid out on the 10th. After I threatened a lawyer the money magically appeared in the ledger on the 17th as pending.
You deserve every complaint and bad social media post I have provided and will continue to provide. A quick review of your ****** reviews shows I am not the only unhappy property owner or tenant.
Best wishes to you, I'm glad to be done with your servicesPlease type your response here.]p
Regards,
***********************Initial Complaint
Date:08/18/2022
Type:Service or Repair IssuesStatus:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I've made calls and communications via portal about fees charged to my account that are unlawful. I've asked for invoices and have documented time stamps that proves no invoices were uploaded or provided as deemed necessary on the PAM website for Vendors. My dryer was repaired, I needed a repair in the past-no charge. 2 months ago I created a meld (6/19). I see a charge on 8/9 for almost $500.00 and late fees accruing. No one has responded to me with documentation or reasoning on this charge. It should have been disclosed prior to maintenance. If I wanted to pay that much for a repair, I would have just bought my own dryer. I've never had issues with PAM before, but taking advantage of a resident is absolutely unacceptable. To continue to bill me for "late fees" for an initial fee that was never disclosed while my questions are being ignored. Creating unnecessary nuances to ANY residents peace of mind should not be taken lightly. I genuinely hope this will be resolved; as a resident of 2 years I am dismayed by the lack of communication. My outlets were not up to code, no GFCI in the bathroom this was very concerning and I simply reached out to have it corrected. I asked for an explanation because it couldve caused me electrical shock if I was not careful. I never received an explanation or anything regarding this issue. Thankfully, it is repaired now, but it almost seems like retaliation of some sort that they are now charging me for a dryer repair that couldnt have possibly added up to the amount Im being charged.Business Response
Date: 09/02/2022
Hello,
We apologize for any miscommunication or confusion over the charges. The repairs were requested for dryer and washer which is not the owner's property, nor is it included in the lease or the listing that was advertised. This means any dryer/washer repairs are the resident's responsibility. Invoice was added to the ledger as a maintenance charge with a description included. A notice should have gone out to you about this charge via the portal, we apologize if it was not received. After reviewing the situation further, we have agreed to remove the fee from your account. This charge was already removed from your ledger. We appreciate your patience and understanding.
Thank you,
PAM Team
Initial Complaint
Date:07/29/2022
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am not extending my lease and have informed the management company of that. I received a call from a man named ******* that he was outside of my house for an inspection. I did not receive any notice and I just received an inspection 3 months prior which showed there was no insulation in my house and I was told by the management company that there should be a credit to my account for the freezing conditions I had to live on all winter. No such credit was ever given. It even states unsafe conditions of my basement door being padlocked from the outside and loose railings and steps. Such unsafe conditions were never fixed. My kids and I have fallen down the steps and had to go to the emergency room. I asked why they were doing my walk through a month early and ******* stated it was not a walk through and he wont be filling out paperwork that it was an inspection for them to get ahead of things and if repairs need to be done that they will do them prior to me moving out for one, I am being harassed. Never in my 30 years of renting has a management company ever refused my walkthrough or done any unwarranted inspections just because I chose not to renew my lease. Please help me schedule my walk through August *****, 2022 at 2:00 pm on any of those days. Hopefully this does not have to go further and the management can respect my home and not harass me while I am already under enough stress of moving. I have PTSD and that is a disability. So to not cause a flare up of my condition I would like my walk through scheduled and they can do whatever inspection they want at that time. Thank you Im advance for your help.RespectfullyCustomer Answer
Date: 08/05/2022
Hi. I did submit a document for rent verification to the management company via their portal today. I need this filled out to move forward with my housing needs. Do I submit another complaint to have this attached to the file? Or how do I include it with the documentation on the bbb website?
This is the form I asked to be filled out.Business Response
Date: 09/13/2022
Hi ****,
We do apologize if there was any miscommunication or inconvenience during your transition out of the unit. Our team does prepare rental listings prior to a resident moving out as we promise our investor clients ******************** and no vacancies, so we do appreciate your cooperation and patience while our agent inspected and listed for rent.
Our agent, ****, has since completed the walkthrough with you and any documentation needed and you have since vacated. If anything is still needed, feel free to email us at *************************************
We wish you the best in your new home!
Thank you,
PAM Team
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