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Beware of working with this company
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Do not use this company for property management, they are disrespectful to their clients, rude, require way more from you than is required by law (my attorney said legally they can't ask for half of the stuff they tried to ask for) and are overall poorly managed by the broker Mike Shaar. I will screen print have emails from Mike Shaar the broker, belittling and accusing me of nonsense and acting like a child. I attempted to work with SIG to manage my property in La Crescenta. First off, they are significantly more expensive than any other property manager in the area. Second, they require more documentation than anyone I have ever. Most of it is fairly scary what they are requiring. It seems they want to control your entire financial life even if they are only just managing your property. I hired them ONLY to do that and NOT to pay bills, mortgage, taxes, insurance etc. First, if you do sign a management agreement with them read the contract thoroughly. They can get out of any situation that they are stuck in with numerous clauses to protect themselves. Example: if they hire a contractor and SIG breaks the labor laws in doing so, you as the owner are liable for that. Example 2: They stated in an email to me, that they are not responsible if the tenant stops paying rent. This is also in their property management agreement. Example 3: They are not required to get owner approval or even provide an invoice for maintenance work less than $1000. I am not sure about you, but incurring $1000 a month in fees with no support from the property manager seems extreme. Example 4: If the contractor they hire to do work on your house commits fraud or another type of negligence, you as the owner are liable even though they hired and screened the contractor. Insurance: They require to not just be able to file claims on your homeowner policy, they need full access to it. They would only allow me to work with them if I allowed them to be a "additional insured" on my policy. I called AAA and what this means is that they have access to change my policy, cancel my policy, pay my policy and have every right as I the owner of the property have on my policy. As I said, all I am hiring them to do is manage the property monthly for maintenance and collect rent. Why do they need this access? It seems highly suspicious that they need to be able to control my policy to this extent. Third, they are require an owner to fill out tax forms which both my CPA and attorney said are not required. Instead of calmly explaining why they are needed, Mike the broker proceeded to berate me for not filling it out. He actually said to me that I was cheating on my taxes and that I did not want to get caught and that is why I would not fill it out. Why would a broker who is running a legitimate business need to insult and accuse a potential client of such a thing? It makes no sense to me and is extremely unprofessional and very concerning. I would warn anyone to not use this company. There are so many more in the area that will treat you with respect, kindness and great customer service. There is too much risk for me in working with such a hostile and controlling company. I can only hope this review helps others to avoid my mistake in working with this company in the future.
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