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May 20, 2009
Verbal Agreements with Landlords
Over the past week, through an agent, I was supposed to sign a lease on an apartment today. After agreeing and negotiating a set rent and filling out an application(again through an agent)and was accepted. I was supposed to sign a lease this evening. Went to the bank and had cashier's checks drawn for the deposit. I then just received a call from the agent telling me that the apartment was rented to someone else at a higher rent.
Now, I asked the agent if they needed a deposit to hold the apartment as we were filling out the paperwork and was told that it wasn't necessary. Do I have any legal recourse? I find this completely unprofessional. Is there a way I can find the landlord's contact information? The building is on 567 Warren between 4th and 3rd. I believe the landlord's legal structure is 565-596 Warren LLC.
I am so annoyed.
Thanks
Comments
You don't have any legal recourse until the lease is signed. You can maybe look up the owner on Property Shark but what are you gonna do, send out a hit squad?
In this market I don't think you need to work with an agent anyway. Plenty of deals out there. The more you can eliminate from the food chain, the less opportunity for misunderstanding.
Posted by: denton at May 19, 2009 6:05 PM
D-bag move but probably no recourse. Certainly not that's cost effective.
Landlord's MO is to have a backup figuring that someone might drop out. Better you be inconvenienced than them - from their perspective of course.
But if both parties went through same broker, might be good to post that info - once you've found your apartment. Since they were complicit.
Denton's right. Deals to be had. Good luck!
Posted by: Johnny at May 19, 2009 6:09 PM
I agree you can't do anything. But it is really awful. Be patient and you will get a better deal. I agree you should take a look around without an agent. it is a buyers market these days and you'll find something better. Shame on them.
Posted by: donatella at May 19, 2009 6:12 PM
an oral agreement is worth the paper on which it is printed...nada
Posted by: eman1234 at May 19, 2009 8:06 PM
Nothing's final until the lease is signed.
As a landlord, tenant's back out all the time after verbally committing to sign a lease. I don't hold grudges. I just move on.
I understand your frustration, but it works both ways, and in real estate, a deal has to be in writing or it's just "words."
Posted by: IronBalls at May 19, 2009 8:43 PM
Tell everyone who the agent was.
Posted by: daveinbedstuy at May 20, 2009 7:57 AM
Thanks for all of the comments. Was just feeling extremely angry and frustrated as I have never been confronted with a situation like this.
I totally understand the issues that landlords face, but was surprised by the lack of professionalism. I have been a renter in Manhattan for years (from small to corporate landlords) and never had something like this happen.
The property was listed by a few agents (some seem reputable, others not so much), but by pure bad luck, chose the one that seemed the least experienced.
I seems that the decision was the landlord's, as someone allegedly offered $200 more a month for a place on Warren between 3rd and 4th. Go figure.
Posted by: Bravens at May 20, 2009 9:51 AM
actually, i think you CAN have an oral agreement to lease for less than a year - 364 days. but your problem will be proving that you actually had an oral agreement, since clearly the landlord, at least, thought there were still additional steps to be taken (deposit given, lease signed) before the the agreement was finalized. i agree you just need to move on.
Posted by: i disagree at May 20, 2009 10:59 AM
If it's worth the $20 (or whatever it cost), you could also take either the agent or the landlord (or both) to small claims to recover the cost of securing the certified check, as you relied on the deal when you undertook to secure the bank check.
That's assuming you were told that the deposit had to be in the form of the certified check.
Posted by: Boerumresident at May 20, 2009 11:04 AM
"someone allegedly offered $200 more a month for a place on Warren between 3rd and 4th. Go figure."
Let the punishment fit the crime...
Posted by: northsloperenter at May 20, 2009 11:29 AM
Isn't there a logical inconsistency between "deals to be had" and "someone swooped in and took my apartment in crappy neighborhood at $200 more per month."?
Just asking.
Posted by: likes2lurk at May 20, 2009 11:49 AM
Meh. Landlord probably rented to a friend/relative and the whole "$200 more per month" thing was just a story to make Bravens go away without causing too big of a stink.
Posted by: northsloperenter at May 20, 2009 12:59 PM
On the other side I've had prospective tenants agree to take apartment and then not show up to sign lease. It happens. Annoying.
Posted by: Putnamdenizen at May 20, 2009 1:26 PM
Welcome to NYC, where most people involved in RE are pretty much scumbbags.
Never use a broker/agent to rent a place... If you need an unhelpful tour guide, I'll bill you by 100/hour, and it will be cheaper.
Posted by: goodoleboy at May 20, 2009 1:35 PM
Blessing in disguise. Rental market is in freefall. You will thank the landlord later. Trust me.
True as stated above: You aint got nuthin til that lease is signed. Suspense all the way up to that moment. Don't hate the landlord. Hate the game.
***Bid half off peak comps***
Posted by: Brownstones Half Off at May 20, 2009 2:09 PM
"most people involved in RE are pretty much scumbbags"
That distinction is slowly shifting to the other side. The renter/buyer side. That's what they will be calling US as it is now OUR turn to engage in head-fake indecisiveness as the options pour in.
***Bid half off peak comps***
Posted by: Brownstones Half Off at May 20, 2009 2:13 PM
Yes, of course - as you always hear on these forums, the narrow - minded comments as the ones expressed by Denton et al. And Goodoleboy, what a character you are? At $100 an hour, I assume the leases and background check are included. Why do you assume it was the Broker and not the landlord that changed his mind. It sucks what happened but brokers get shafted by greedy landlords as well, it happened to me and I never worked with that landlord again. As for 567 Warren, I know that it's represented by small broker in Park Slope and they always take deposits before they will even process an application so I am curious to know what company your agent worked for? Was it a co-broke? I'm sorry to say Bravens but you do not have any recourse. If you're saying that they accepted your application but then gave it to someone else, you should express your feelings by calling the manager.
Posted by: Crownlfc at May 20, 2009 4:50 PM
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