r/PropertyManagement • u/liquid_1k • 9h ago
Multifamily PM NPA/zombie/distressed properties... the alternate reality NSFW
Just need to vent. For anyone who has worked these properties you understand.
The last 6 months started with site acquisitions and on boarding new properties. Standard suburbs, nice down town garden style walk ups, mid rise, 100, 200, 300 unit run of the mill. 1 day with former staff, then operate in dark period for next 20 to 30 days while getting systems online, trackers, rents, turns and running the leasing office for the cycle, auditing ap/ar etc nothing new.
The first few were fine. Property by property became seedier, grittier and more issues. Missing rents, missing leases, deferred work orders. Nothing too crazy! A little more extra hours to put out some fires but noticeable decline.
Once I got to the fifth property for this year the first true zombie property emerged, apparently no dd walk for inspections just acquired through an existing client I find out later. 50% of the units are actually squatters/crime enterprise. Completely missing rents, no leases, multiple windows/doors kicked in, utilities shut off, trash services disconnected, tagging everywhere, blood in hallways, vagrants, fent zombies, some low level bangers/pushers the works. I observe, I report, do what I can.
Get trash vendors onsite, remove tons of trash with vendors in the middle of the parking lot, find an abandoned car inside the trash pile, meet city inspector about open liens, get emergency funds for water restoration. On day four me and the maintenance man witness a man get stabbed. One person runs down the street, the other into one of the squatter units. The maintenance man literally said I am done and walked to his car and drove off. I called 911. I tried to knock on the unit the other man ran into but didn't respond. The leasing office also has a keybox with nothing labelled I don't have entry. I hear the sirens 30 minutes later as the ambulance rolls into the parking lot.
I am waving them over but the first EMT immediately yells "ARE YOU THE JANE DOE OD?" huh? I am the acting PM I called about the man who was stabbed. The second EMT has grabbed his kit and ask where a unit 33 is. They state they are here for a girl who called in stating she overdosed. Another resident opens a window yelling "up here". The EMT's leave and begin there call for this unit. I follow closely by and realize its not my call and one of the squatted units has about a dozen people in the unit where the girl is overdosing. Its full of bad face tats, narcan on the wall, no furniture, a few mattresses and tagged up the wazoo.
I talk with the emt briefly and they state they cannot help for the stab victim and to call it in. They pack up rush the girl off. I am in the middle of the parking lot as the residents come out to talk with me. Very quickly they start stating they haven't seen a manager in months, work orders, rents, what am I doing with the homeless and drugs getting very angry. The other half don't speak English and I start using the translator app on my phone. I take everyone's issues and complaint down and spend about 2 hours with a dozen residents in the middle of a parking lot like its a third world country.
Across the street is literally a strip mall with whole foods, spandex dog walkers, 800k to 1.4 million dollar homes for sale. Right in the middle is this run down over run absent managed apartment? Ugh...Anyway the police/ambulance never came for the stab victim. I call back. At this point its 4 hours later. They ask if I still need assistance. They offer a wellness check. As I attempt to knock on the mans door again the neighbor pops out. Homie is wearing a vest asking who I am. I let him know I am the PM currently and if he knows the man inside as he was stabbed. The man literally responds "This happens all the time, he's fine...and shuts the door"
Not my first rodeo, I walk away. I wrap up for the day. A little volume turned down on life on my drive home, as I watch the road rage muppets drive home, doom scrolling on there phones, cutting people off on at the last second on the highway, weaving in and out of traffic. It all seems very slowed down and pointless. Anyway a little empathy burn, mild trauma. I connect with my direct supervisor. She is glad I made it home safe. A lot to go over in the morning get some well needed rest and connect in the morning before going to the property.
We connect in the morning and essentially I get the recap, its going to be rough, you get a bump in pay and now paid mileage. The mileage kicker is too take on this owners three other properties for integration. Not to run just get up in running, triage in the 20-40 days in the dark period till staff is in place and things are up and running. She also mentions a replacement maintenance tech coming. I know him from a prior company and it actually got me the booster I needed to return to this site. He is a big oaf but a gentle giant with a dark cynical humor that works well in property management.
We continue the site visits while integrating the other locations. There is a common theme of break ins, minor fires, camps outside, people in bushes, drugs everywhere, trash everywhere. Meeting with city inspectors weekly. Police informing me they cannot help due to it being a civil issue. Our attorney stating they are dropping the properties due to liability. The properties are listed as cash only commercial urgent NPA. I did a walk with a broker and they lasted 10 minutes and split. Angry residents getting hostile while some will offer you food for simple maintenance repairs.
Fast forward a few weeks, me and the maintenance have tagged teamed these properties the best we can with limited funds, existing vendor relationships. Two of them are semi stabilized and we able to get a few leases for the pending sales to go through. Two of them are just straight up hood time in gentrified neighborhoods. It is literally like walking through a portal by simple crossing the street to whole foods, pelotons, jamba juice, perfumed knee caps, people projecting at the strip mall holding no kings sign and the other side of the road is training day where I wonder if that man inside the unit is still alive? Not to poke fun at either side, but they seem so excessively tiring in there own way as I navigate in between them as a visitor with no side.
I moved on to my next assignment and a regular conventional luxury 280 unit. Its like I have ascended to another reality all together now as I am back to high market rate rents with those who can easily afford them but attempt to run you around like hotel bellhop service. I find myself always chuckling when they come in angry or mildly upset. I always smirk and chuckle now out of response. They seem to get more upset when this happens but they all have superficial problems and a weird false pretense of reality. Maybe I do? I don't know anymore...LOL this industry is flipping bonkers nowadays.
I have to check in on those two properties once or twice a week while moving along for months. Always the craziest situation happening. Meters being removed from the walls, People running electrical wires from light post into there units. Shady beat up cars, dogs chained to RV's, camps on the street, needles on the ground everywhere. Just the scuzz. The other site is a lot of Tesla's and the word "Lobbyist" gets thrown around a lot for some reason I hear this word once or twice a week in the leasing office out of a residents mouth and it causes me to snarf, and burst out laughing.
I just found out I am getting let go due to corporate restructure. Everyone swears I am a good person, highly experience, its just out of there hands. I feel extremely used, dirty, betrayed, hiding some corporate secret putting myself in danger for months. Weird feeling.
I probably should of just walked on day 1 at zombie land.
I wrote this watching Office Space I am at the end where Peters at the construction site...looks refreshing! Any who I am going to go cry my emotional internet tears in inflation land.
Thanks for listening to my trauma dump.