Avanath Capital Management LLC - Irvine, California

Jason Pike

Investors Beware – Corruption and Mismanagement at Avanath

Avanath Capital Management markets itself as a leader in affordable housing, but behind the scenes, it is riddled with corruption, financial mismanagement, and severe neglect of its properties. Anyone considering investing with this company should be extremely cautious.

Why Investors Should Be Concerned:
Rampant Corruption & Nepotism – Avanath frequently hires friends and family members for services without competitive bidding or cost comparisons. This results in inflated costs for subpar work, all while cutting corners on critical repairs. This unethical practice is well known within the company, yet leadership refuses to address it. Investors should ask: Where is the money really going?

Severe Property Neglect – Many Avanath properties are falling apart due to years of underfunding and poor maintenance. Widespread issues include water damage, mold, structural cracks, outdated plumbing, and failing infrastructure. Instead of making real investments in their assets, management opts for band-aid solutions that will only lead to greater liabilities down the line. Investors should question: How sustainable are these assets long-term?

Toxic Work Environment & High Turnover – The company’s mistreatment of employees, especially maintenance staff, leads to high turnover and worsening conditions at its properties. Overworked employees with little support cannot maintain a portfolio of this size, which directly impacts the value and profitability of these assets.

Lack of Accountability – Despite widespread knowledge of these issues, Avanath’s leadership has done nothing to correct course. This raises serious concerns about whether investor capital is truly being used to enhance assets or merely to enrich those at the top.

If You’re an Investor, Ask Yourself:
Are my funds being used efficiently, or are they being funneled into overpriced contracts with friends and family?
How much of Avanath’s portfolio is truly sustainable, given their neglect of core maintenance?
How much risk am I exposed to if these properties continue to decline in quality and reputation?
Investors Deserve Transparency
Before committing any capital to Avanath, investors should demand financial transparency and accountability. A deep dive into how funds are allocated would likely reveal mismanagement that could significantly impact returns.

Invest wisely. Do your due diligence. Avanath’s reputation for cutting corners today could mean significant losses for investors tomorrow.

Annalise Twothousandandone

This company comes in and turns multi-family buildings into literal slums. The first thing they did in our building was fire our security guards and stop using the HVAC to save money. They had to hire security back for obvious reasons, but this is how Avanath rolls. In the three years they’ve owned this building in DC, it’s gone from an older but nice apartment to a beacon of lawlessness and filth.

Andrew Lindsay

Do not ever apply or live with this company. Not only do they treat residents horribly and can’t keep up with the communities they purchase, but they are bias and racially profile everyone

Kim Wise

I have lived here going on my third year In this 55 and older community. It is not considered a luxury apartment but Up until now, it has been sufficient enough. The rent raises have averaged 3 to 4% since I’ve been here. This is understandable. However, this year the rent increase is 12%. But only for 4 apartments in this simplex (I was told by management). I am one. The average rent raises across-the-board were raised to an average of 10% for the rest of most apartments. This is a distinct hardship for every senior citizen who lives here Management explained to me that it was fair because it makes the company competitive in the current rental marketplace. And with Social Security providing a COL of only 3.2% this leaves most residents here facing further financial hardship in this economy.

My personal primary complaint is that the maintenance in our facility is abysmal. For the 12% increase visited on me through the cherry-picking rent-raising commission leaves with the following value for the extra money. My floors are cracking and buckling. There have been many dishwasher leaks that have left the floor dark and gray with what I fear is mold. The correction for the cracks that are also in the floor was to screw in a metal plate (crookedly) across the entrance to my kitchen. I just had hip surgery and use a cane. My cane slips on this piece of metal whenever I enter my kitchen. It has become a falling hazard. But I was advised by maintenance that they will not replace my floor. I am ready to contact appropriate authorities for these unacceptable conditions. In addition to a refrigerator that leaks, a stove that does not read appropriate temperatures, faucets that leak, my windows are crooked and will not shut tightly. This is the value I receive for 12% increase. I would highly recommend to everyone to be a BUYER BEWARE at Cascades Village/Avanath properties. I have seen all the monies in this complex going toward renovations to common areas and landscaping while our apartments fall apart. There are many many things wrong with this picture. Look elsewhere if you need a 55 and older community apartment dwelling.

Sandra Raafat

Avanath is an embarrassment to the entire real estate industry, truly. I encourage any prospective or current investors and tenants to ask Avanath to disclose the myriad pending lawsuits against them from tenant associations across the U.S.

Do Si

Avanath Management took over the apartments where I live in Sacramento, CA and initially, seemed promising. However, they are worse than the previous management .

Their balance ledger is frequently not up to date, so they will contact you, threatening late charges of $75. When their error is discovered they never apologize for the mixup.

They need frequent reminders to fix things, even though maintenance requests are submitted online. It takes about 3 requests to have someone come out and fix anything and they rarely send a professional, wasting your time, on having to keep requesting the same maintenance items fixed, repeatedly.

They set appointments for.pest control and after you're prepared by removing everything from your cupboards and covered it,
they cancel the.service. Then weeks later, demand you be ready on a whim. I could.go on and on. The point is, they are terrible, like most corporate owned management/owned services.

2023
Up date...they recently raised garage fees from $75 to %175. They even wanted to rent out parking spaces monthly as well, but were not allowed to, due to regulations in Sacramento
This management company is greedy and only cares about making a profit, not about affordable housing. Beware!! They want to stick it to the residents wherever they can, as I was informed by an insider. Smh.

J

Please believe every review and the issue is state wide. I don’t live is CA and I have the same issues. They deserve ZERO stars…..The absolute worst management company to live under. They do not care about their residents at all. Work orders never resolved and front office never communicates effectively….you have to keep emailing and calling to get answers. They don’t fix a thing just cover it up to make it look fixed. If you have a choice run away when you see this name on a property you will surely be disappointed. I am waiting patiently for my lease to end.

Tranasha Mcbride

Been trying to reach out to someone about Acclaim at Ford lake apartments. It is so much unprofessionalism going on. I will be going to court because the manager tried evicting me because I filed noise complaints against my neighbor. I was threatened with a gun and nothing was done. I was told that my neighbor didn't want to have a meeting so she is just going to evict us both. I have never heard of the victim being evicted. This lady has absolutely no business managing any apartments. If my issue continues to be ignored I will be reaching out to the Hall of shame news outlet.