I've had a poor experience with a security deposit. The company is BMRE Management or Benchmark 425LP. First, last year they were very difficult about re-sending the deposit when the first was lost in the mail. I ended up getting my deposit check about 2 months after moving out (no issue here). My next issue was that I forgot to deposit the check (between all the checks I had after the last move,... [more]
I've had a poor experience with a security deposit. The company is BMRE Management or Benchmark 425LP. First, last year they were very difficult about re-sending the deposit when the first was lost in the mail. I ended up getting my deposit check about 2 months after moving out (no issue here).
My next issue was that I forgot to deposit the check (between all the checks I had after the last move, it got lost in the shuffle). The total was for $3200. Here, less than a year later, I realized I did not deposit the check in the first place. My bank would not accept it since it had been over 6 months. I asked BMRE Management to replace the check, even volunteering to go into the office. They are saying no. They are claiming that 'because they sold the building (200 East 30th Street), we do not owe you anything'.
Not focusing on the shoulds (because clearly they SHOULD refund me), I would like to know if anyone has insight into legal rights here. Because the checks are supposed to be kept in a separate account, shouldnt the money still be with the original company (i.e. the sale of my old building should not matter)? Second, because it is still technically MY money, can't I make a legal claim for it? I saw nothing in my lease about time of depositing mattering.
Obviously I made a mistake here, I still find it pretty putrid that a multi-million dollar company is trying to withhold $3200 from an individual.
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Response by NWT
over 10 years ago
Posts: 6643
Member since: Sep 2008
Look at the money Benchmark 425 LP made on that building:
02/10/2015 (Entire Building) $68,250,000 Recorded Closing 66,403 ft²
09/25/2012 (Entire Building) $44,000,000 Recorded Closing 66,403 ft²
That partnership has most likely dissolved itself, so nowhere to go to get the money it owes you. You were landlord fodder, so just figure it as $x per month extra rent.
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Response by fieldschester
over 10 years ago
Posts: 3525
Member since: Jul 2013
>Obviously I made a mistake here, I still find it pretty putrid that a multi-million dollar company is trying to withhold $3200 from an individual.
I find it pretty putrid that a non multi-millionaire is more cavalier about $3200 than a multi-million dollar company. You don't care about it? Well, nobody else does either. Take your lumps. Who are you even trying to shame?
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Response by Flutistic
over 10 years ago
Posts: 516
Member since: Apr 2007
I can be harsh, FS, but not that harsh.
This is so easy to solve. You call them up and say you will report them to the DOS [Department of State] unless they issue you a new check within 14 business days.
Be sure to talk to the right department, and get the name of the person, and then repeat your request in an email or (better) a letter sent certified mail. If they don't pony up, then google it and file the complaint, and presto, you will have your money.
The reason is, security deposits in New York State are not to be trifled with. Most property managers know this. If these folks don't, then you can educate them. Easily.
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Response by apt55
over 10 years ago
Posts: 127
Member since: May 2012
Checks are usually good for one year from date of issue unless, it is printed on the check " void after XXX days. Try another bank or even perhaps a check cashing place, although they charge a fee.
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Response by fieldschester
over 10 years ago
Posts: 3525
Member since: Jul 2013
The bank rejected the check that was not deposited in 6 months. There is a reason they do this. The bank's actions don't reflect a harsh opinion on my part.
The property was sold. How - realizing this is $3200, not some large amount - is the OP going to figure out if the old management company still has the deposits or if the new owners have it?
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Look at the money Benchmark 425 LP made on that building:
02/10/2015 (Entire Building) $68,250,000 Recorded Closing 66,403 ft²
09/25/2012 (Entire Building) $44,000,000 Recorded Closing 66,403 ft²
That partnership has most likely dissolved itself, so nowhere to go to get the money it owes you. You were landlord fodder, so just figure it as $x per month extra rent.
>Obviously I made a mistake here, I still find it pretty putrid that a multi-million dollar company is trying to withhold $3200 from an individual.
I find it pretty putrid that a non multi-millionaire is more cavalier about $3200 than a multi-million dollar company. You don't care about it? Well, nobody else does either. Take your lumps. Who are you even trying to shame?
I can be harsh, FS, but not that harsh.
This is so easy to solve. You call them up and say you will report them to the DOS [Department of State] unless they issue you a new check within 14 business days.
Be sure to talk to the right department, and get the name of the person, and then repeat your request in an email or (better) a letter sent certified mail. If they don't pony up, then google it and file the complaint, and presto, you will have your money.
The reason is, security deposits in New York State are not to be trifled with. Most property managers know this. If these folks don't, then you can educate them. Easily.
Checks are usually good for one year from date of issue unless, it is printed on the check " void after XXX days. Try another bank or even perhaps a check cashing place, although they charge a fee.
The bank rejected the check that was not deposited in 6 months. There is a reason they do this. The bank's actions don't reflect a harsh opinion on my part.
The property was sold. How - realizing this is $3200, not some large amount - is the OP going to figure out if the old management company still has the deposits or if the new owners have it?
Send a letter to BBB , follow up with DA's office
Why throw a good 98c after a bad $3200?
Start with the NY Attorney General's office. Here's a link to their rent deposit complaint form https://www.ag.ny.gov/sites/default/files/pdfs/complaints/cns003web_rentsecurity.pdf
You can call them for assistance--they're quite responsive.