Business ProfileforMMT Property Services

We also have had troubling experiences with MMT (******* **********) who managed a large portfolio of properties from Aug 2022 – Jul 2023. The following items were never addressed, despite raising them dozens of times. Poor communication – Outside of the first few weeks, communication has been horrible. MMT does not respond timely to e-mails or phone calls and when they do, they rarely address the issues brought up. Very concerning recordkeeping –Transactions are not logged timely and when they are, there was little detail behind it, especially for repairs. Upon changing management companies, there are also many thousands of dollars of rent that were paid by tenants that are unaccounted for in our MMT ledger. Not obtaining approval– Outside of 3 larger repairs, MMT did not obtain approval for any repairs they performed (repairs over $250 required approval), despite us requesting a repair list with estimated costs. Not remitting owner funds – We only received 4 distributions that totaled less than $20k (out of an expected $80k). These were also not received until May 2023 despite asking for all funds 6 months prior. Like others, Michael said the accounts were being “reconciled”, which was not the case. To date, we still have not received any additional funds owed or final accounting of our income and expenses. Lack of diligence – We had numerous issues and fines from the city for violations that were not corrected and repairs for C of O’s were not fully complete. Upon changing companies, they found immediate repairs needed that should have been brought up months earlier. We are still owed tens of thousands of dollars from MMT; however, the exact amounts are in question due to poor recordkeeping and findings by our new management company. The complaints and reviews here are not one-off issues. We have unfortunately lost a year of time and will have to spend hundreds of thousands of dollars cleaning things up from the year of awful management by MMT.