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Here's an analogy of what transpired over the last 3 months...
Upon reaching the highest level locally, TFG called us for a meeting to resolve the numerous issues.
1st meeting: The appointed person dealing with us portrayed an intent to resolve the multiple long-pending issues. Many points were agreed upon and it all seemed innocent just like sheep.
2nd meeting: The back-tracking started and it was like V.R (virtual reality) - we could almost see the docile sheep losing it's woolen coat.
3rd meeting: The sheep disappeared and it was the big bad wolf once again.
So, it turned out to be more of the same. Check online for more reviews from REAL investors.
Our Owner's Stay request was denied. The reason given was that the unit was under several months renovation.
Upon investigating, I found out that the unit was leased out for 6 months - PROOF ON HAND.
So, TFGAM was benefitting by leasing out the Owner's Stay unit and denying Owners their entitlement as per the Purchase Agreement!
Firstly here's an extract from TFGAM website:
"TFG Asset Management is led by an expert team of asset managers with more than 75 years' combined experience..."
With such a claim of being an expert team, they have totally mismanaged my unit and depreciated the value of it.
Upon inspection of my unit last week, I found it to be in a very very bad condition... eg. Missing ceiling tiles and light covers, burnt kitchen cupboard, oil stains, etc.
This is such a basic requirement to manage (let alone 75 years expertise) that even TFGAM cannot answer for this.
It begs many questions... was there a proper handover from the last tenant, was money taken for the rectification of the defects, how long has this been going on for, how are the rest of the 289 units in this Community being managed, how many potential tenants saw this Unit and were put off by the condition, etc, etc. The unit is vacant for two years!
In the meanwhile TFGAM is patting itself on the back and taking management fees for mismanagement!
Yet another reason to stay far away from TFG
I have also experienced poor service like many of those who have posted here. If you are looking to invest with TFG, please do your research.
Among the many pitfalls are false promises as per the SPA and Wealth Builder documents, poor management of units, delayed statements, delayed rent income, service agents using deceptive tactics, non-delivery, not taking responsibility, non-transparency, etc, etc. (all FACTS: have the evidence to back these claims).
Adip S.'s review of tfgassetmanagement.com earned 4 Very Helpful votes
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