Case Study
Jayce Kadire and Dilraba Ibrahim, a husband-and-wife team of out-of-state investors, were faced with a significant challenge regarding their investment properties. The properties consisted of two quadruplexes with a total of eight rental units. Unfortunately, the properties had been managed by a former property manager who had neglected maintenance for an extended period of time, ranging from 6 to 12 months. This negligence had led to deteriorating property conditions, which in turn caused dissatisfaction among the tenants. As a form of protest, the tenants had stopped paying rent altogether, exacerbating the financial strain on the investors.
Recognizing the urgent need for intervention, Jayce Kadire and Dilraba Ibrahim engaged the services of 1836 Property Management. The primary goal was to assess the current situation and devise a comprehensive strategy to address the various issues. The options presented by 1836PM included:
Despite the concerted efforts to rectify the situation, the investors encountered several challenges along the way. The tenants, who were already upset due to the neglect, continued to withhold rent payments, leading to a prolonged and complex legal process. Over the course of 8 months, from November 2022 to June 2023, the following outcomes were observed:
The case of Jayce Kadire and Dilraba Ibrahim serves as a cautionary tale for out-of-state investors who may face challenges when entrusting their properties to negligent property managers. Despite their efforts to rectify the situation, the extensive neglect, tenant non-compliance, and legal complexities led to difficult decisions. 1836 Property Management helped them navigate the complicated situation and ultimately recover their investment capital.
This case underscores the importance of diligent property management, proactive maintenance, and regular communication with tenants to ensure the success of real estate investments.
