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Complaint Details
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Initial Complaint
06/11/2024
- Complaint Type:
- Delivery Issues
- Status:
- Answered
The company has no help system or contact capability in order to update the address of investor. I am an investor and have funds residing with your organization, but have no way of updating my mailing or physical address.
Business response
06/13/2024
Hello, you can easily update your name or address on our website by logging in, you can find instructions below, linked from our help section:
**********************************************************************************************
You can also feel free to email our customer support alias and we will assist you: **********************************
Initial Complaint
05/20/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I invested in Arrived approximately six months ago. It was NOT explained that investors MUST keep their money in the properties for 5-10 years, but merely recommended. There is no set date. This is even if Arrived does not perform as pitched on the website. They say Arrived is filing for a new FCC account that allows investors to cash out. But, Arrived has been saying this for months with no updates on status. They do not answer on-line chats or calls. I want a full refund of my entire account immediately, as they misled the investors on hold times, ROI and FCC filings.Business response
05/31/2024
We work hard to be very transparent with our clients about the investment holding period and liquidity options. The holding period and liquidity options are clearly stated in every property investment details page (sample: ********************************************************). We also require that each client check a box before every purchase saying they understand they must hold the investment for the full target investment period and there are no refunds after the 24 hour cancellation window. Additionally our liquidity policies are transparently stated on our HELP section: *****************************************************************************************************************************************************************Initial Complaint
04/24/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
03/02/2023 $100 purchase of part of company buying homes for rentals and vacation rentals 02/24/23 $100 purchase of part of company buying homes for rentals and vacation rentals Have been told I have to wait 5 to 15 years to cash out of my account all i want is my $200 back, this is pure and simple fraudBusiness response
04/25/2024
Good afternoon,
At Arrived we have designed our investment vehicles to maximize returns for our investors and that means that different products have different holding periods. Our Single *********************** adopted a redemption plan designed to provide investors with liquidity options. Once an investor has held their investment for six months, they can request a redemption of all or a portion of their shares. Our individual rental properties are meant to be held during their full holding period, which for Single Family Residential properties is estimated between 5 and 7 years.
We are very transparent about the holding period by including that in every property investment details page. We also require that each client check a box before every purchase saying they understand they must hold the investment for the full target investment period and there are no refunds after the 24 hour cancellation window.Customer response
04/25/2024
Complaint: 21620943I want my money back today
I am rejecting this response because: It is only $200 and I am broke with no money in my account. This is folding money to these fat cat rich cats. I have also filed a complaint against them with the SEC
Sincerely,
***********************Initial Complaint
04/11/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I made an investment into a company that buys rental and air bnb properties. I have since decided that this type of investment is not beneficial to me. I requested that the company refund my investment. The company has stated they do not have a way to refund investments until properties are sold, a period that *** last up to 15 years. I would like my shares of the rental properties refunded.Business response
04/15/2024
Hi ****,
We design our investment products to maximize returns for ********* and that results in different products having different investment hold periods. These policies are prominently displayed on our website. For ********* looking for short term liquidity we recommend investing in our funds which have liquidity options. It seems that you invested in individual properties, which currently do not have a liquidity option, We will update you once we have liquidity options for our individual properties. More info on our liquidity options for the different products:
For The Arrived Single ***********************
The Arrived Single *********************** has adopted a redemption plan designed to provide ********* with an option for liquidity. At any time after six months following a particular investment, an investor may request a redemption of all or any portion of their shares, which, if approved, will be redeemed at the then current Share Price (or NAV per Share) at the end of the quarter.
For Individual Rental Properties (Single Family Residences & ******************************* ********* will need to plan to hold their individual property shares for the full investment period until the property is sold and ********* are paid their proportional proceeds from the sale. Single family residences have an estimated hold period of 5-7 years, and Vacation Rental properties have an estimated hold period of 5-15 years (learn more here).Initial Complaint
02/29/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I need to withdraw (liquidate) my investment with arrive. It seems extremely difficult to get hold of anyone at this company, I have emailed, called (left voice messages). No one is answering calls. Please help.Business response
03/04/2024
Hello Fatima,
Clients who buy shares in individual properties must hold their investment for the full investment period until the property is sold. We do our best to make this policy clear to potential clients before they invest through various channels, including our asset investment pages (example: ************************************************************), during our investment checkout process, and in our FAQ (example: ************************************************************************************************************************************************************).
We do anticipate filing a secondary trading market with the U.S. Securities & ******************* (SEC) as an option for early liquidity for individual properties and I will personally let you know once you can exit your investment.
Thank you for understanding
Initial Complaint
02/04/2024
- Complaint Type:
- Order Issues
- Status:
- Answered
I was mislead when signing up for this product and now they refuse to let me cancel. They are informing me I am locked in with them for 5 years or more. I have been trying to cancel bi was not aware this was something I had to stay in for over 5 years. Ii think they also need to be reported to ************************ If they had done small print that was not clear I did not read this. I was misled and I want a refund. I do not want to do business with this company.Business response
02/06/2024
Hi ******, To clarify, your investment in the single family residential fund is not locked in for 5 years. You can exit that investment after 6 months if you choose to do so. You can learn more about our liquidation options for the different products in our FAQ linked below: ************************************************************************************************************************************************************
Those policies are also disclosed in all of the investment pages as well as the checkout process when investors must confirm that they understand the below statement: "I am investing with the intention of holding my securities for the target investment period, and that Arrived will not offer refunds on my investment outside of the 24 hour cancellation window."Customer response
02/06/2024
Complaint: 21245710
I am rejecting this response because: I was misled with unfair disclosure practices. I had no ideal I could not cash out and cancel. I did not know I was locked in. This should be reported to the consumer financial protection bureau. I am requested a refund. I was not aware of these disclosures that I could not cash out at any time. Please refund.
Sincerely,
*****************Initial Complaint
01/25/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I am an account holder for **********************'s investment platform. During the course of the past two years, the Company has failed to meet expectations, yet does not allow disengagement from their failed investment platform. I am seeking an immediate account closure and return of funds.Business response
02/05/2024
Thank you for your inquiry *****, it was a pleasure to speak to you earlier this week.
As we have discussed through email and phone over the past week, clients who buy shares in individual properties must hold their investment for the full investment period until the property is sold. We make this policy clear to potential clients before they invest through various channels, including our asset investment pages (example: ************************************************************) and our FAQ (example: ************************************************************************************************************************************************************).
We do anticipate filing a secondary trading market with the U.S. Securities & ******************* (SEC) as an option for early liquidity for individual properties and I will personally let you know once you can exit your investment.
On the question of the expectations, we are sorry to hear that the investment returns have failed to meet your expectations. Like some other asset classes, real estate investment returns can vary year to year, hence why long term holds are important so clients can see the aggregate performance over many years.Customer response
02/05/2024
Complaint: 21198194
I am rejecting this response because: requesting funds to be returned and account closed.
Initial Complaint
05/23/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I have a notice that my rent is going up $754.00 without any options, this increase is unacceptable. When i spoke to the Manager she simply said she was from ********** and they have laws in place to protect you, **************** does not offer those protections. I told her that she would force me to move my family out of the apartments even thought we are good tenants with %100 of all rent payments on time.Business response
05/23/2023
Hello, We believe this complaint is meant for another company and not **. We do not have a record of any tenant ***********************. Additionally we do not own rental properties in **************** and actually we do not own or operate any apartments anywhere. We only operate single family rentals and vacation rentals, none of them in ****************, our website is www.arrived.com. Can you please remove this complaint from our BBB listing as this is likely meant for another company with a similar name.
Thank you
Customer response
05/24/2023
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***********************Initial Complaint
10/31/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
The investment was misleading and not accurate and no customer service number to contact anyone from the business.Business response
11/10/2022
We were able to get in touch with this user and fix the issue. The investor was attempting to access our website from a browser that needed to be updated and as a result, they were not able to access their account. We helped troubleshoot their issue, which included updating their browser, and they were able to access the website and their account. We were able to come to a solution quickly and they mentioned that they so appreciated the call. For support-related questions, we provide an email alias ************************************ which anybody can contact at any time and we will respond in less than 24 hours.Customer response
11/11/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
*********************
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Get a QuoteCustomer Complaints Summary
9 total complaints in the last 3 years.
7 complaints closed in the last 12 months.