If this is your first visit, be sure to
check out the FAQ by clicking the
link above. You may have to register
before you can post: click the register link above to proceed. To start viewing messages,
select the forum that you want to visit from the selection below.
One more thing that occurred to me - they have 4 listings on TradeMe at the moment, with the most recent having been listed on 31'st of May. So it would seem that _somebody_ has been around fairly recently.
You could try using TM to email them, although I guess it doesn't guarantee that anybody will read it.
From Jericho to owners: By email last night
--------------------------
It's with great regret we have to inform you Jericho is ceasing to trade as
of today, 10 June 2011.
I must apologise for any inconvenience this process brings to you.
We've decided it's best to close off our rent account immediately. We've
sent a letter out to your tenants apprising them of the situation. We've
included your bank account details in the letter, and instructed them to
forward any and all rent payments to you in future.
We've indicated to them that someone will be in touch with them soon. We've
also provided them with your email address, that they might have a point of
contact should anything pressing come up. This should smooth the transition
into whatever new arrangements you might make.
We've prepared a handover pack for you - including documentation you might
need (Lease, Tenant Ledger, Bond Transfer Form etc) and any keys we might
have. We'll send the pack out to any NZ address you nominate. We've set up
an email account for you to send address information to:
We've been advised that a Liquidator will be appointed in time to settle up
Company finances. They will have access to our records, be informed as to
which of our Creditors are still owed funds, and be in contact with each of
them in due course. If there is anything in particular you'd like to bring
up with them, we've set up an email account for this too.
Emails sent to the above address will be made available to them. We are
unsure of timeframes at this stage, but from what we gather, the process
will likely take months rather than weeks. Your patience is appreciated.
What you need to do from here:
1. Send an email to [email protected] advising us of the New
Zealand address you'd like your handover pack sent to.
2. Contact your tenants, or have a representative contact them in the next
few days. Their contact details are listed below.
Though we didn't renew our membership with the IPMA this year, I can't
recommend the organization enough. They're doing good things in the
Industry. Consider one of their members if your looking for a new PM.
On a more personal note we'd like to thank you for your support over the
years, and wish you well in the future.
The Tenancy Tribunal on-line system shows a number of cases against them for not paying the bond to the bond centre, and landlords we are in contact with have 2-4 weeks rent missing. There are also apparently tradies unpaid as well.
But yes.. the email does appear at first glance to be attempting to wind up as gracefully as possible.... so we'll wait and see.
Running a trust account? How, other than improper usage of funds, can a PM company get into financial strife? Creditors are paid (in your PM accounting system) as the bills come in and then disbursed monthly. Operating costs should be at an acceptable level to allow for the runnung of the company and paid for out of income generated. Maybe I'm not seeing the whole picture.
Being members of the IPMA they would have to have passed a stringant application process.
There is more to this story. It will be an education to those of us interested.
I'm sure there other things I abhor more, but their
names escape me, just now . . . However, over-
use of the trite slogan "the team" is very close
to the top of the list. (in all its forms)
Who was the representative signing off the e-mail?
Who the hell knows? It's a great cop out. Some one
called Jerry Team? Yeah, right.
I suspect that one person sent that e-mail. And
I'm prepared to bet his name wasn't Jericho. How
many "team members" can cluster around a com-
puter keyboard at once? 2? 6? Ten?
Hi, we are in exactly the same situation with Jericho. I googled them to find out if anyone else had complaints and am glad to have found this thread. We were due rent on the 2nd of June and it still hasn't been paid. Email, phoning etc is useless as they never reply or answer the phone. We need to pay our mortgage! We haven't received the above email but I'm not surprised they've gone into liquidation as they ran the business terribly and we were about to terminate the contract anyway.
I'm not sure where we go from here, I guess we get in contact with the tenants directly and ask them to deposit money straight into our account.
What happens to the money that our tenants gave to Jericho to be given to us?
Just hope you get lucky, Sarah. As far as
I can see, there's no way of knowing until
after-the-fact. Whenever 'after' may be
and whatever the 'facts' may be, are just
unknown quantities, for now.
Comment