Hi,
I am a new REIN member as of June 2014 and wanted to get started. I have a JV partnership with a Toronto REIN member for 4 mons now. I am the money partner along with my husband. We purchased a rental property in Oshawa closing Dec 31 2014. She found the property and renters. She has not given me a copy of the keys,leases or rent cheques. I wanted to set up an account for the rent to be deposited in and have the bills paid from this account in my name. She insisted that she needs to be on the account because she will be taking care of the rent. She had an account set up with a bank she deals with and has several accounts with other people with the same bank and said it is cheaper that way. I have asked several times for a copy of the above items and have asked her about the rent being transferred from her account to the account we all share. She does not answer my calls or call me back when I have asked her to. She replys to my text messages after 1-2 days, usually 2 days and only addresses 1 of my concerns. She refuses to let me know when I can pick up the keys and leases. She has transferred money from the account with notifying me what it is for by email or text. To date the rent for April is not in our account and she says its in her account but the bank is holding it for some reason. I at this point am very unsatisfied with my partnership, in that I feel I am not considered a partner at all. She has total control over everything and I am totally responsible for the debt payments and expenses of the house. Our JV agreement was not signed yet. I wanted this to work out but I feel I can't trust her do to her actions and lack of communication with me. How can I end this and what should I pay her for her contribution.
Please can someone reply to my personal email. ([email protected])
Thank you,
YWilliams
I am a new REIN member as of June 2014 and wanted to get started. I have a JV partnership with a Toronto REIN member for 4 mons now. I am the money partner along with my husband. We purchased a rental property in Oshawa closing Dec 31 2014. She found the property and renters. She has not given me a copy of the keys,leases or rent cheques. I wanted to set up an account for the rent to be deposited in and have the bills paid from this account in my name. She insisted that she needs to be on the account because she will be taking care of the rent. She had an account set up with a bank she deals with and has several accounts with other people with the same bank and said it is cheaper that way. I have asked several times for a copy of the above items and have asked her about the rent being transferred from her account to the account we all share. She does not answer my calls or call me back when I have asked her to. She replys to my text messages after 1-2 days, usually 2 days and only addresses 1 of my concerns. She refuses to let me know when I can pick up the keys and leases. She has transferred money from the account with notifying me what it is for by email or text. To date the rent for April is not in our account and she says its in her account but the bank is holding it for some reason. I at this point am very unsatisfied with my partnership, in that I feel I am not considered a partner at all. She has total control over everything and I am totally responsible for the debt payments and expenses of the house. Our JV agreement was not signed yet. I wanted this to work out but I feel I can't trust her do to her actions and lack of communication with me. How can I end this and what should I pay her for her contribution.
Please can someone reply to my personal email. ([email protected])
Thank you,
YWilliams
