Unrefunded Commercial Real Estate Deposit

1,663 Views | 4 Replies | Last: 3 yr ago by birdman
archangelus2
How long do you want to ignore this user?
We are dealing with a significant security deposit (> $10K) not being refunded due to the landlord not having the funds available. We are a very small business and while we can survive without it it will significantly impact our profitability and obviously we would very much like to get it back.

Can anyone recommend a lawyer to counsel on this? I'm thinking a strongly worded letter with potentially a new contract with terms of repayment before seeking legal recourse but not sure on best path forward hence the request for a recommendation. We are in the Houston area if that matters.

Thanks Texags.
Red Pear Realty
How long do you want to ignore this user?
If you are under $20,000 you can sue them in small claims court. The landlord has 30 days to deliver an accounting for your deposit after the lease ends, so if he can't prove he did that, (and you provided him a written notice of your forwarding address) it should be a pretty easy case.
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
birdman
How long do you want to ignore this user?
I think "entering a new contract" with landlord is a terrible idea. They already had a contract and aren't honoring it. Don't give them a chance to stall.

You can file the suit in small claims yourself. I'd walk in landlord office and give them an ultimatum. I am getting a check today or I'm filing this lawsuit today. Pay in full.

Odds are the landlord will give you half of it on the spot. Then repeat the same process in a month or two.
Furlock Bones
How long do you want to ignore this user?
follow Red Pear's advice and sue them in small claims and as birdman said do not enter into a new contract.

birdman
How long do you want to ignore this user?
I forgot a small tip. Go into landlord on 1st or 2nd of the month. That's when they will be flush.
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.