When tenants on Liberty Lane came home from taking their children to summer school Tuesday morning, they found a letter taped to their front door informing them their duplex had a new firm controlling and managing its day-to-day operations. Rent was to be paid for July to the new firm, Balke Brown Transwestern.
While a letter taped to the front door of your home telling you to pay rent to someone else may seem like a hoax, this was not the case.
South Woods Properties has gone into receivership over a dispute with Commerce Bank, who holds the note on Fogle’s rental properties – about 80 units.
Officials at Balke Brown said they have had a few phone calls and Emails, however, they also noted that they are required by the courts to provide such a letter to tenants and required to tape it to the apartment’s front door.
“They will also be getting something from us in the mail,” said Balke Brown’s Carla Powell. “We are just the management firm who will be operating the rental units there until the ownership either goes back to South Woods or goes to Commerce Bank.”
According to South Woods owner Eric Fogle, he plans to retain ownership of the rental duplexes.
“I have personally continued to invest in South Woods Properties over the last few months,” Fogle wrote in a letter to his tenants, “with full anticipation of continuing to own and manage these apartments for many years to come.”
Fogle said he was surprised with the letters being posted on doors, but was working with his staff to make it as smooth of a transition as possible.
By Bruce Wallace
~ Get more of this story in today’s Journal ~