Back Rent

Sorry for all the typos in my post. Typing and talking on the phone= bad grammar

Posted by: 7andfive at February 19, 2010 1:59 PM in response to Back Rent

Here's the update (abridged). Thanks for helpful and not so helpful advice. Yes, it was a typo- it's 400 over 3 months- which equals $1200
I spoke to the management company and told them that I thought both parties were of equal blame. Them for not doing their job and me for not checking. But every month they sent me an invoice with the rent amount and a zero balance from the previous month- I took that information at good faith.

I then told them I would of course start paying my regular rent amount as stated in my lease as of March 1, as long as they send me an invoice to reflect such. But as a good faith gesture I was willing to pay $300 of $1200- the $900 they would have "eat" for their mistake. The long and the short is that they threatened me with legal action and I said fine but who knows I could get a sympathetic judge- I was willing to take my chances. We got of the phone they called back an hour later, with a $700 offer- we settled at $500 which I think is more than fair. Hope this can be of help to other renters out there.

Posted by: 7andfive at February 19, 2010 1:53 PM in response to Back Rent

Thanks Pete. I think you were the only one that actually read my post. Seriously people if you want to lecture someone please find another post.

Raphael9- You obviously think you have the answer to your questions. Who am I to prove you wrong. Maybe you can find some bankers to lecture. I'll post as one and you and maxsdad can respond.
Like I said I'll report back. My find Anna has agreed to call the management company with me. You guys wouldn't like her, she has a rent stabilized apt. that she rents out for a profit.
Stay tuned update in the morning:)

Posted by: 7andfive at February 18, 2010 8:33 PM in response to Back Rent

Raphael9: In all honesty, I was expecting advice on how negotiate- or if there was room for negotiations on this matter. Also, lucky for me I have friends that are not landlords or aspiring landlords. I will try to work this out with the management company tomorrow and will update here.

Posted by: 7andfive at February 18, 2010 6:52 PM in response to Back Rent

maxsdad- I think that qualifies as a lecture.

Posted by: 7andfive at February 18, 2010 5:11 PM in response to Back Rent

Montose, I just wanted to make the posters aware of the realities of the neighborhood.
I love Bed Stuy (on most days) and I choose happily to live here. But I can't tell you how many times I hear complaints from people that just moved to area about a lack of amenities, lack of play space for kids, or lack of mailboxes-you name it, I've heard it.

I just wanted to give the poster a heads up. Who knows maybe they're moving into the duplex that just opened up below me and then I'll be real close to the possible complaints! But if they move here knowing it's not the Slope and have measured expectations then I think they will love the area and the fact that people in Bed Stuy are the nicest and most friendly in all the city.

Posted by: 7andfive at July 13, 2009 12:37 PM in response to Move to Stuyvesant Heights?

Oh and FYI- despite what the agent told you Stuy Heights IS Bed Stuy!! Right in the middle of all the glory of the 'hood.

Posted by: 7andfive at July 13, 2009 11:18 AM in response to Move to Stuyvesant Heights?

It really depends where in the heights. The really is only about 5 blocks of beautiful well kept brownstones. The downside is that outside of those 5 blocks there is not a lot commerce or anything else for that matter. You definitely will have less eating out and shopping options than in the slope.
As for the kids not too sure but there's not a lot of playgrounds for small kids. But then again this is just from my own observation of living in the neighborhood without kids.

Posted by: 7andfive at July 13, 2009 11:14 AM in response to Move to Stuyvesant Heights?

Dave- I agree with most of your post. But we're talking about housing prices and those still have much further to go down- regardless of the market.

The government is trying to head off the next bullet- student loans, starting today your payment can be determined based on income. All of these are good signs that the rope around consumers necks are loosing a bit but that does mean they have the means or the ability to go out and buy a home tomorrow.

Posted by: 7andfive at July 1, 2009 9:21 AM in response to Case-Shiller: Beware the Head Fake

What I'm with you on the use of the N-word. It's offensive and considering that Dave lives in Bed Stuy he should know better.
If Dave wants to discuss the use of the word, he should have a discussion with one of neighbors and be sure to say the word exactly how he spelled. And then he can come back to Brownstoner and tell us what he learned.

Posted by: 7andfive at June 26, 2009 1:23 PM in response to Open Thread: Michael Jackson Edition

DB, I don't know. Half the ladies in TH are men and half the men are ladies :)

Posted by: 7andfive at June 19, 2009 2:47 PM in response to Brooklyn Sales: Under a Million

@11217. I'm going to chime on BsAs since I just returned after living there for 6 months.
The city is amazing, the people are beautiful (but you obviously have not spent much time in Brazil, since Brazilians put the Argies to shame in the looks the dept).

Also, there is absolutely no diversity in BsAs, coming from NYC that was a major drawback.
As for real estate there seems to be extreme over expansion in Soho & Hollywood nabes- expect prices to start dropping even more next year. Argentina is no longer an economy on the move (unlike Brazil) and people are really hurting financially - run away inflation. Things will only get worse for most of the people there. But as a foreigner you can isolate yourself from the problems.

Posted by: 7andfive at June 19, 2009 2:06 PM in response to Brooklyn Sales: Under a Million

I don't get the harvard/Bed Stuy story. If she was not in the dorm at the time of the shooting and did not let the killer inside (he used another student's key card) then why is she being expelled. Harvard needs to explain exactly the reasons and was she only one expelled, because surely the student that gave the killer access should be out as well.

Posted by: 7andfive at June 3, 2009 9:07 AM in response to Wednesday Links

Not to be snarky but this could very well be one of the worse brownstone renos I've seen in a long time. How bad? Let me count the ways....kitchen, living room, curtains, paint, etc etc etc etc etc

Posted by: 7andfive at April 29, 2009 9:12 AM in response to Real Housewives: Simon and Alex's Renovation Revealed!

I still can't believe there are people out that still don't believe NYC real estate is a long way from bottom. The NYC job market is awful right now- in almost every industry. Less jobs means more foreclosures, more people forced to sale but to a limited buying pool-which means much lower prices.

Lower prices is not a BAD thing, unless you purchased from 2005-2007 and need sale within the next 2 years. If you have steady job, a nice savings and love your home, why would you care if prices dropped. Just live and enjoy, lower prices will probably bring more income diversity and much more interesting people to your neighborhood.

Posted by: 7andfive at April 23, 2009 10:19 AM in response to Lessons From the Foreclosure Front Lines

Maybe America will finally have its squatter movement- around 35 years after Europe.
In the 70' & 80's there was a real movement in European cities to occupy buildings. Basically what happened is that banks would let the buildings to rot-with the hopes of selling when the market picked up. The problem was that most of the cities had a major housing crisis-i.e lack of affordable housing. The squatters took over the buildings, later even gaining rights which are still on the books today.

Those laws are very helpful because banks know they can not leave a house empty otherwise a squatter could come and immediately gain rights of occupancy. Instead the banks try to really work with the owners before foreclosing. Once a property is foreclosed then, the bank must hire someone to live in the property-usually for free. I actually did this for a bank one summer in Amsterdam- it was great & I only had to pay the utilities.
Perhaps, coming soon to America!

Posted by: 7andfive at April 10, 2009 12:28 PM in response to Foreclosures Are Their Palaces

This is starting to look interesting. At a asking price of 530K, this could be had at 470-480K. I could see myself living on the waterfront......just need another reduction of 50K.
I think those with good credit, a job and a down payment will have some interesting options come fall- but of course those people are becoming few and far between. I only have 2 of the 3.

Posted by: 7andfive at March 18, 2009 11:50 AM in response to The Edge Tests the Price-Cutting Waters

Stonerqut, why didn't you regularly exterminate for roaches and bugs. It would have made the problem a whole lot better!

I'm currently subletting my place and I shudder to think of coming back to roaches. I did the best I could to find a tenant that is extremely clean but you never know- but I am having the place exterminated ever 6 weeks while I'm away.

As for the bed bugs. Part of me thinks they have always been there and the problem is not particularly worse just that now the media is giving it more attention. I really think I would die or want to die if I ever got bed bugs. Fruit flies even creep me out.

Posted by: 7andfive at March 18, 2009 11:46 AM in response to Bed Bugs Experiences Sought

Wasn't the last 8 years about tax breaks- and we see how that worked out.

Posted by: 7andfive at February 26, 2009 10:30 AM in response to Home Sales Falling, Condo & Foreclosure Auctions Rising

Ok, I haven't posted in awhile because it seems that the same people are singing the same song despite our current outlook. I've really enjoyed your post bxgrl- you seem to be the only person of reason on this board.

I left NYC for a cheaper destination to ride this out. At the end of the day, this downturn is about jobs and keeping deflation and soon inflation in check. If we can get companies to start hiring again, then things will work themselves out. Although, the stimulus plan has a lot of holes, what it will do is put money back in play, so employers can pick up on hiring. We just need to stop the bleeding on the job loses- because as far as I'm concerned prices in housing still need to drop to get us to a point where people aren't maxed out (more than 30% of income to housing-which was also one of the problems).

Posted by: 7andfive at February 26, 2009 10:01 AM in response to Home Sales Falling, Condo & Foreclosure Auctions Rising

In an economic downturn renting does make for more happiness. There is no stress over mortgage payments. Yes, I can lose my apartment for not paying rent but for some reasons it doesn't carry the stress of having your home being foreclosed.

Also, as a renter I can pick up and leave if needed. Now, if I move away for a job as a owner, I have to find renters (and hope they don't get laid off), or try to sell my place. I have lots of friends who were laid off in the past few weeks who are going through this. All I can say is I'm happy I didn't buy.

Posted by: 7andfive at December 12, 2008 10:39 AM in response to Home Ownership Bad for Your Health

These are actually a better bargain and a better neighborhood than the MYNT

Posted by: 7andfive at October 27, 2008 4:57 PM in response to The Clermont Reborn As Rentals

nybk01 you're pathetic. If you don't like what's being said in the forum why are you posting? Are you so upset that one lonely guy post everyday on Brownstoner that the sky is falling. You must be a developer or a very sad individual (or perhaps one in the same).

Posted by: 7andfive at October 27, 2008 4:54 PM in response to Are you still in denial about the implosion of the Mutant Asset Bubble?

Dave,
The airlines problem have to do with deregulation and service. Why is that more people than ever are flying but none of those yahoos can make a profit? With deregulation the US carriers decided to go with the non efficient hub system. And they also decided to cut back on customer service- people are willing to pay more for good service (just ask Virgin Atlantic).

As for the steel nope also wasn't caused by unions. Those jobs got shipped overseas- they decided that nope we don't want to give US workers a living wage, a pension and healthcare. And our government gave them tax breaks to do it. SHAME

Posted by: 7andfive at October 24, 2008 3:25 PM in response to Oh no.. World markets collapse..

See Dave I always liked you until you said this:
"other straws in the basket can be attributed to the unions."
See if we had more unions then wages would not be stagnated in this country and CEO would not be able to steal as much. It was also stops the likes of Walmart and others from exploiting and enslaving undocumented workers.

No unions are not what caused the demise of the American car companies. Their lack of vision to the changing market is what really caused them to go under. FYI- every car I've ever owned was made in a union shop and I've never owned an American car.

Posted by: 7andfive at October 24, 2008 1:12 PM in response to Oh no.. World markets collapse..

Trading will probably be suspended before the end of the day.

Dave- everyone is hoping for a rally soon. but the job reports and company financials just won't make that possible.

Posted by: 7andfive at October 24, 2008 10:10 AM in response to Oh no.. World markets collapse..

Ok. So now I have everything liquid in Yen and Dollars.
I'm still holding some very bad stocks but can't get rid of them now. There in my retirement fund- so I try not to cry or look at them.

As for housing prices. It doesn't matter if they go down because at this point there are NO buyers. A close friend just got laid off from Morgan and will probably have to sell next year.
He will never get a job that paid as much- lucky for him he saved. But it will surely be a change in lifestyle. Which is good because this is the same person that spent 25K on a bachelor party in Miami.

Posted by: 7andfive at October 24, 2008 9:47 AM in response to Oh no.. World markets collapse..

So I'm actually here to get some advice from the What.
If things are going to get worse- what is the game plan? Try to be first in line at the food bank?

Posted by: 7andfive at October 23, 2008 6:42 PM in response to The prefect financial storm has hit land..

Wasder, I thought I answered your question. I agreed with you, the what would be much more effective without the obsession with ass.

Posted by: 7andfive at October 16, 2008 2:21 PM in response to End of the World (Or Maybe Not) Party

excuse the bad grammar in my previous post- my English professor mom will probably disown me now.

Posted by: 7andfive at October 16, 2008 1:37 PM in response to End of the World (Or Maybe Not) Party

"if he/she could uncouple their predictions from simplistic, reductionist sociological analyses?" Wasder your correct the What has absolute zero social skills- at least on the web.
It's funny that now the What is becoming the voice of reason on this blog. The mere fact that some took literally Oct 16th as the day of reckoning says enough. Yes, we are all still alive but many have seen there 401K wiped out, jobs lost, company out of business and banks on the verge of collapse. The What told of this scenario many months ago and many laughed him off. Now, instead of coming out and saying he was right and group of people want to celebrate that we weren't knocked off the planet by an apocalyptic attack?

The world has not come to an end but out way of life has......

Posted by: 7andfive at October 16, 2008 1:33 PM in response to End of the World (Or Maybe Not) Party

This obsession with the What has gone too far. The man or woman was for the most part right about his predictions. Dave for some crazy reason can't even admit that. Even the owner of this blog has said he's been right. And at this point, if we started a pool I would side with the What with his/her prediction that the trading will be halted at least once before the end of the year.

Now, I even took some of the What's advice on getting rid of my Euros- that's already paying off. Now people either take his advice or move on- nothing to see here except your housing prices falling.

Posted by: 7andfive at October 16, 2008 11:28 AM in response to End of the World (Or Maybe Not) Party

I guess it could be worse. But they should get rid of that fug door and the ugly A/C unit on the bottom unit. Oh and actually put some grass in the front instead of the concrete playground they have now.

Posted by: 7andfive at October 16, 2008 11:15 AM in response to The Charming Paint Peeler Reincarnated

Dave see my first post. These sells went into contract a while ago- I'm not saying the sky is falling but I would like to see the closings in two months.

Also the very high end of the market will stay strong. 5th Ave penthouses will not have a problem selling. I'm more concerned about the middle and upper middle class- those with homes under 1.5 million that want to sell.

And for the record Bed Stuy is getting killed right now. Remember that place on Putnam? Still there. Property Shark even had a few foreclosures listed in the historic district.
I guess the Babs buy didn't have the short term effect everyone thought it would have.

Posted by: 7andfive at October 14, 2008 12:22 PM in response to Mary Stuart Masterson Unloads State Street Abode

So that 450K is before agent fees, taxes, and cost put into the place. Still a good sum of money but more around 275K-300K. Which is good money, if you make it in a year.

Posted by: 7andfive at October 14, 2008 12:17 PM in response to Last Week's Biggest Sales: Closing Time at One BBP

I disagree be concerned with whatever you want.

As for this house, luckily she was only in it for a year and probably didn't take out any home equity loans. Those that took out those ridiculous home equity loans will have even more problems trying to get out of this mess with their shirts on.

Posted by: 7andfive at October 14, 2008 11:29 AM in response to Mary Stuart Masterson Unloads State Street Abode

Sorry I meant went into contract not closing after 15 September.

Posted by: 7andfive at October 14, 2008 10:20 AM in response to Mary Stuart Masterson Unloads State Street Abode

Dave this house closed before the meltdown. Let's only be concerned with closings after September 15th-that will give a better picture of the market right now.

Posted by: 7andfive at October 14, 2008 10:19 AM in response to Mary Stuart Masterson Unloads State Street Abode

Sebb for every home you show going above asking (I challenge you to show some that have actually closed in the last 30 days). I can show you ten that have had dramatic price cuts and that are still sitting on the market. Brownstoner has a few up today.

Posted by: 7andfive at October 13, 2008 12:19 PM in response to Dead Cat Bounce or the Bottom?

Sebb- I don't understand your post. It just seems that some buyers with prime real estate priced their places accordingly/below market. But let's talk when these places actually close. It was smart for the one couple to choose the cash offer.

Posted by: 7andfive at October 13, 2008 11:38 AM in response to Dead Cat Bounce or the Bottom?

Miss Muffett your right in your concern over the Morgan deal. It almost didn't go through last night- they had to give the Japanese, Warren Buffet type rates to make this thing happen.

Posted by: 7andfive at October 13, 2008 11:35 AM in response to Dead Cat Bounce or the Bottom?

opps. I actually hope Paul Krugman will be Sec of Treasury not Fed.

Posted by: 7andfive at October 13, 2008 11:33 AM in response to The last hurrah..

So does this mean that the dollar will fall against the Euro & Pound?

What, for the most part I usually agree with you. But today I'm feeling pretty good about things and I think we will start our recovery early next year.
Housing prices will continue to fall but banks will become more regulated and stable. And jobless rates will go down. And out new Fed under an Obama administration- Paul Krugman will be a breath of fresh air, a Fed without ties to wall street.

Posted by: 7andfive at October 13, 2008 11:32 AM in response to The last hurrah..

I thought it was funny that the people who purchased in the Belltell thought they got a deal. They could have got 85K off the asking 6 months ago.

Posted by: 7andfive at October 13, 2008 10:22 AM in response to Developers Sweeten the Deal for Buyers

Dave- he predicted exactly what is happening. You can call it a recession, a depression or whatever. But let's give some credit he predicted the utter collapse of the financial markets and the utter failure of the real estate market. Now, some will say that New York has not fallen but let's be real here, prices are seriously declining.

Posted by: 7andfive at October 10, 2008 12:26 PM in response to I told you so...

Ah, see I came here especially today to hear what the What had to say. I even followed some of his financial advice and got rid of some Euros the other day. He's actually smarter than my dumb broker who keeps saying hold while he sold everything three weeks ago.

Posted by: 7andfive at October 10, 2008 10:13 AM in response to I told you so...

Wasder this place has great bones. I'm sure it's going to look great when you're done.
Is your place in Bed Stuy? If so, great to have a production studio in the neighborhood.
Welcome!

Posted by: 7andfive at October 9, 2008 12:08 PM in response to Interiors: Expanding the Space But Not the Debt

Wasder that's crazy talk. If places like Clinton Hill, Park Slope and even Prospect Park become more affordable do you really think people are going to consider the further out Stuy Heights?

Now Stuy Heights may not be as cheap as the crack house on Lexington but it won't be that much more expensive. Stuy Heights is far- there is nothing near that area. If given the economic choice -which soon many will have, they will chose more conventient Brooklyn neighborhoods. Or even more convenient Bed Stuy neighborhoods.

Posted by: 7andfive at October 8, 2008 3:47 PM in response to A Brownstone for $272,000?

Here we go again. I guess only country livin' white people live in Brooklyn

Posted by: 7andfive at October 8, 2008 3:41 PM in response to Country Living at The Flea

"We will survive this thing and never make bad loans again". This all happen early in 2007. HSBC is one of the best banks in the world with billions of dollars in assets but they too can get hit again."

So this is to the peanut gallery but especially dave and the what. Do you think that if everyone would have come clean last year we would be out of this mess. And if everyone just came clean now things would get better. The market is already diving why not have it dive for good reason and then move on?

There are still some banks that are on shaky ground that are not coming clean! I'm looking at you Citibank. No way they should be allowed to get their hands on Wachovia.

Posted by: 7andfive at October 8, 2008 2:02 PM in response to Game Over..

The management company more than likely has in-house counsel who spends a significant amount of his/her time in housing court dealing with landlord tenant issues (every management company in NY that I have dealt with has). You could try to get your friend Anna to negotiate, but chances are they are not going to budge. Please remember that your first rent payment is short paid by $400 which is 120 days past due, the second is ninety days past due etc. The management company is perfectly entitled to report these past due amount to the credit reporting agencies. Do you really want to screw up your credit score for a few hundred dollars?

Your friend Anna is violating her rent stabilized lease and I hope she gets caught because it is people like her that are screwing up the whole NYC rental market making it unaffordable for working families. If she gets caught her subtenants are entitled to claim three times the difference between the legal rent and the amount she's charging them. I have friends illegally subletting an apartment in Manhattan from someone like Anna, I've been encouraging them for years to go to housing court and have the lease transferred to them and get the back rent damages.

Posted by: bohuma at February 19, 2010 5:49 AM in response to Back Rent

"I've been encouraging them for years to go to housing court and have the lease transferred to them and get the back rent damages."
bohuma, exactly which law would entitle your friends to assume the propitiatory lease in their situation? Hopefully your friends will get some real legal advice before they jump. Furthermore Housing court would have no jurisdiction (to award damages) over an illegal and defective contract between these two parties.

Posted by: modsquad at February 19, 2010 8:26 AM in response to Back Rent

Gosh, is this for real? You want advice on how to negotiate? You clearly do not want to do the right thing. Are you blind to the negative consequence? Good Luck.

Posted by: Rick at February 19, 2010 9:50 AM in response to Back Rent

Modsquad, I believe you meant proprietary, but see: http://www.housingnyc.com/html/resources/dhcr/dhcr7.html
7&5 (your age & shoe size?): Get a clue—the world is full of observations and opinions that differ from yours, which do not constitute lectures, and which are guided by a moral compass that appears lacking in your own character.

Posted by: vinca at February 19, 2010 9:53 AM in response to Back Rent

vinca thanks for the spell check. What do I owe y?

Posted by: modsquad at February 19, 2010 10:35 AM in response to Back Rent

Yes, under "Illusory Sublets" bohuma is right. My apologies. My bad.

Posted by: modsquad at February 19, 2010 10:45 AM in response to Back Rent

You owe the money. A statute of limitations would most likely run to years, and more than one year. You signed a lease and you knew they made an error- in court the judge will simply tell you to pay- and possibly add fines and legal fees. Don't be a fool.

Your friend Anna is breaking the law. Hope she gets caught.

Posted by: bxgrl at February 19, 2010 11:06 AM in response to Back Rent

Modsquad: choice of ritual is yours, preferably involving a Funk & Wagnalls.
propitiate |prəˈpi sh ēˌāt| verb [ trans. ]
win or regain the favor of (a god, spirit, or person) by doing something that pleases them : the pagans thought it was important to propitiate the gods with sacrifices. See note at pacify.

Posted by: vinca at February 19, 2010 11:09 AM in response to Back Rent

I can't believe you wouldn't be embarrassed to even post this! Where is your integrity? You knew the invoice was incorrect and now you want to "negotiate"? You should be ashamed of yourself.

Posted by: jewel at February 19, 2010 1:05 PM in response to Back Rent

Here's the update (abridged). Thanks for helpful and not so helpful advice. Yes, it was a typo- it's 400 over 3 months- which equals $1200
I spoke to the management company and told them that I thought both parties were of equal blame. Them for not doing their job and me for not checking. But every month they sent me an invoice with the rent amount and a zero balance from the previous month- I took that information at good faith.

I then told them I would of course start paying my regular rent amount as stated in my lease as of March 1, as long as they send me an invoice to reflect such. But as a good faith gesture I was willing to pay $300 of $1200- the $900 they would have "eat" for their mistake. The long and the short is that they threatened me with legal action and I said fine but who knows I could get a sympathetic judge- I was willing to take my chances. We got of the phone they called back an hour later, with a $700 offer- we settled at $500 which I think is more than fair. Hope this can be of help to other renters out there.

Posted by: 7andfive at February 19, 2010 1:53 PM in response to Back Rent