Just a few months ago, I was approached by the Senior Vice President of Peloton. He wanted me to renew my lease and offered me some incentives. He told me that if I did not stay they would allow me to leave without paying rent as a courtesy of being there as long as I had. Shortly after that, he left Peloton. I decided to not renew my lease. This was based on many reasons including lack of response to basic care and upkeep as detailed below.
In general the management does not take care of the buildings. Examples of poor management include 1. Taking over 4 years and 20 emails by me to repair the front sign in the front building that was damaged years prior, 2 Lack of cleaning the premises. The garbage can had for many years trash all around it and a broken down fence around it. 3. Water damage that occurred frequently from broken pipes and rain damage, 4. Animals including rats in the building that are still there, 5. Broken water sprinkler system that despite me telling them about over months was never fixed. All of this occurred while I was paying about $6,500 a month.
The current management, Gardner Peavy, did not honor the offer that was given to me and told me the Senior Vice President did not have any authority to abate my rent. Despite my paying about $1.7 million dollars in rent over 23 years Peloton’s management would not offset six weeks of rent as promised. I asked why and was told “as we still need a return on the capital expenses we have spent over the years.” It is true that Peloton gave capital improvements, but that was to keep me there seven years earlier. The money also went back into the building and when divided over the seven years turned out to $142 a month. So after paying $1.7 million in rent Peloton felt they did not have their $142 a month back? By the way, when I left, they still keep the improvements.
Professional, responsive & transparent. Peloton operates with integrity rarely today. I have had especially wonderful experiences working with the property management side of the business.
I have rented from Peloton Real Estate for 23 years. I cannot in ANY way recommend you deal with them.
The best property management company around!!!
Save yourself the problems of dealing with a company that does not honor their word and does not repair the building you are in.
Peloton Commercial Real Estate is a US Real Estate Agency based in San Antonio, Texas. Peloton Commercial Real Estate is located at 250 W Nottingham Dr, San Antonio, TX 78209, USA.
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