• Report: #1129104
Complaint Review:

LB Property Management

  • Submitted: Fri, March 07, 2014
  • Updated: Mon, May 05, 2014

  • Reported By: Observer — California
LB Property Management
4730 Woodman Ave, Suite 200 Sherman Oaks, California USA

LB Property Management LBPM Watch Your Pocket Sherman Oaks California

*UPDATE Employee: LBPM operates with the contract terms.

*Author of original report: What Properly Managed means by LBPM standards

*Consumer Comment: Contract fees

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10 years with this company. Poor service all over, several Property Supervisors.

Recently found out they are charging fee's for services that were not included in our contract.

They increase their fees based on approving annual budget from Board of directors, not based on the contract they have which requires a mutual agreement in writing. They have done this to us for several years. Every year they told the Board, the increase is mandatory per terms of the contract. Finally this year we asked for a copy of the contract and we found out this is not true. We asked them for an amendment, they told us, since the Board approved the budget, you agreed to the fee increase. They further claim since we did not contest, we agreed.

There was no reason for us to consent when the property manager (Their employee) told us, this is "per contract". We trusted them and they took advantage of us. Now we found out that they are also charging fees left and right on items that were never agreed on. They do it in small amounts so people think it is not worth contesting. The reality is, if you are on the Board, get a copy of the contract, read it and make sure they do not abuse your finances.

Watch out for them. Looks like they are doing it on all their accounts. Don't be fooled with them being accredited by BBB. They are not graded and so far they ignored to answer to our complaint to BBB. So figure......

This report was posted on Ripoff Report on 03/07/2014 04:35 PM and is a permanent record located here: http://www.ripoffreport.com/reports/lb-property-management/sherman-oaks-california-91423/lb-property-management-lbpm-watch-your-pocket-sherman-oaks-california-1129104. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 UPDATE Employee

LBPM operates with the contract terms.

AUTHOR: Craig TIce, COO, LB Property Manage - ()

LBPM manages more than 300 HOA's throughout Southern California. The person filing this complaint does not identify the association or herself/himself.  I usually find that when one prefers to remain anonymous that the claim is not valid and the person is not really looking for a resolution but instead has some other personal agenda.  

All of our  management contracts contain the fees we will charge and any modfications to the contracts are done with our clients knowledge.  To contend that for 10 years fees were raised without the Board's knowledge is simply a notion that common sense refutes.  The fact that the party claims they were clients for ten years speaks to the fact that clearly they must have been satisfied with the service for many years.  One does not remian a client for ten years if they were being mistreated as this complaint describes.  

It has always been our policy to raise fees only when we have to do so.  When monthly fees are raised it is certainly done in a manner in which the client is properly notifed.  We always strive to find a beter and more efficient way of doing things for our clients.  One of the latest changes we have made was revisions to our management agreements.  Presently our newest contracts are all inclusive and clients that signed such a contract have no incidentals charged for things like, postage, photocopies, check stock and office supplies.  This avoids any conflicts over reimbursements or fees.  Things are clearly spelled out so our clients know exactly what they are paying and there are not fluctations from month to month.  

It is also our policy to always ty to resolve matters quickly, reasonably and professionally if mistakes are made.  We are in a people business and people make mistakes.  We do now and always have tried to fairly resolve any mistakes our staff has made.  We carry insurance to protect our clients as well so that our clients and we, can sleep at night knowing the assets are properly protected.  

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#2 Author of original report

What Properly Managed means by LBPM standards

AUTHOR: Observer - ()

Nothing is impossible, you very well might be happy, however our experience proved LBPM does not abides by, respects or follows any laws  or contract!

The notion that you feel the need of an annual review of a self renewing contract in itself  is  indicative of little or no trust to the other party, as opposed to what we did, which was based on trust to LBPM. Huge mistake on our part, we accept that. 

The objective of publishing  this report was to warn others to check their contract, and verify the charges. Although in our case apart from finding out who we are dealing with, the review did not make a difference, because when we notified them, they still continued to withdraw the excess from our account by writing checks to themselves. So we had to terminate them on the spot.

Since we terminated their contract, we found additional issues, such as they did not perform the required quarterly documented walk through per contract, as a result our property has sustained damage( see Photo Attached), the property manager signed our tax return without authorization, they were charging us for additional non-existent boxes, they filed our taxes with wrong TIN etc. Also, we found out we were charged way more by other lenders, do not know why, but may be due to the kickback to this company. One vendor reduced their fee over $100/ month more than 25% of the total monthly bill!

If you are already reviewing the contract and verifying the charges, this does not apply to you, you are doing great. BTW, sounds like you have been working with LBPM for a long time as you are using their favorite vocabulary as well........


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#3 Consumer Comment

Contract fees

AUTHOR: Gary Smith - ()

 Thank you for your report.  However, as a Board member of an HOA about to use LBPM, we would your Board not review the Contract each year?  If your Board did not know these terms then it's your Board's fault that these fees continued.  We have no such term in our contract with them and every amendment we asked for was agreed to.  They have been very amicable on all terms. 

No HOA Board should ever sign any contract without full review by and approval from the Board; that's just bad management on your part in my opinion.


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