When I first hired Richard Leedy of Axxent Realty and property management he seemed like a nice guy and a good fit to handle the C- properties that I had. I had two adjacent 4-plexes, one of which was boarded up while the other one had a couple of vacancies. He promised to fill both and raise the rents from the $550/mo to $675/mo. My mistake was not only trusting him, but allowing him to take down $200/mo flat fee for his services. He had no motivation to rent the vacant units and over the course of 2.5 years of management he made 10 times what I received in distribution. Why? He had no interest in renting the units and when he did he would charge me several fees for background checks, etc. Tenants would stay about 2 months before skipping and leaving me with another $150 to clean and turn the unit which went to his services. Bottom line, he never did fill the units without taking most of the income one way or another. The rents went from $550/mo to $450/mo. I would visit the properties and they would be in OK shape its just that he couldn't get the place to cash flow with any long term tenants. There were always bills, expenses and excuses for tenants that skipped or couldn't pay that month. He failed time and time again to live up to any of his promises that he made to me on our first meeting. My suggestion is to just not hire this guy as he is horrible at managing properties or creating any kind of a cash flow for the owner. Not a bad guy, just not a business guy.
Posted: 6/08/2012 • Link to this review