CLARK REAL ESTATE & INVSTMNTS

Clark managed an apartment complex for our elderly parents beginning in 1998. When our father died in 2001, they continued to manage the apartments, reporting to our mother. We, her two children and their spouses, began taking a more active role in her affairs after she was swindled out of a very large sum of money by a handyman doing repairs after a major wildfire swept through her neighborhood in 2012. Looking into that matter, led us to the realization that her mental abilities were failing so we started reviewing other financial matters, and specifically the dealings she had with Clark Properties. It became clear very quickly that she was making little, if any, money from this relationship. It was very difficult to sort out the finances from the vague generic receipts included with monthly statements. Almost never was an actual vendor receipt supplied; instead, the receipts were completed by Clark employees, stating only generalities about what had been done in the apartments. The monthly statements themselves were unclear as to what money was coming in and where it went. Very often the ending balance of one month did not correspond to the beginning balance of the next. We found it impossible to track the path of rents and security deposits. One thing was obvious: reported maintenance and repair activities were never ending and EXPENSIVE. We learned later that our mother's accountant had advised her many times that she needed to look at changing management companies because something was wrong; she basically was making nothing off this investment. I wish he could have informed her family of this. Last summer we contracted with another management company and one of us became the contact person, relieving our mother of this responsibility. A thorough inspection of the apartments was made and their condition was shocking. The majority of the apartments had smoke detectors that were not even up-to-code, let alone functional, outside lighting was not working, exterior paint was peeling, and the grounds were in terrible condition. Also, a number of windows were cracked, a cabinet was missing here or there, a light not working (which the tenant says was reported repeatedly to Clark) etc., etc. One tenant was a hoarder--this had been reported years and years ago by Clark, but apparently not addressed. Another tenant kept a cat, which by the lease, was not allowed--the home reeked. When asked to supply the keys to the laundry room and another door, which turned out to be a maintenance room, Clark said they could not locate them. A locksmith was hired to gain access. The laundry room was filthy and a bird's nest had to be removed from the dryer vent. I think Clark employees figured out that our mother wasn't paying attention then began taking advantage of her diminished mental capabilities by overcharging her and charging for work that was never done. Clearly the condition of the apartments did not reflect the astronomical maintenance and repair charges Clark reported. We would never use this company again and are currently debating whether to report them to the State Real Estate Board. Please beware of them.