 Broker keeping deposite (by Don [VA]) Aug 11, 2020 11:17 AM
 Broker keeping deposite (by plenty [MO]) Aug 11, 2020 11:20 AM
Broker keeping deposite (by myob [GA]) Aug 11, 2020 11:25 AM
Broker keeping deposite (by WMH [NC]) Aug 11, 2020 11:58 AM
Broker keeping deposite (by TenantWhisperer [MA]) Aug 11, 2020 11:58 AM
Broker keeping deposite (by Nicole [PA]) Aug 11, 2020 12:38 PM
Broker keeping deposite (by Ken [NY]) Aug 11, 2020 1:16 PM
Broker keeping deposite (by Landlord ofthe Flies [TX]) Aug 11, 2020 2:50 PM
Broker keeping deposite (by Robert J [CA]) Aug 11, 2020 4:45 PM
Broker keeping deposite (by Hammer [TN]) Aug 12, 2020 11:37 AM
Broker keeping deposite (by Don [VA]) Posted on: Aug 11, 2020 11:17 AM
Message:
Real Estate Broker handled my 2 rental houses. This came to an end and 2 rental houses were turned back to me. Real Estate Broker now refuses to transfer tenants' security deposits back to me. He is not stating he has a claim to the deposits, saying he will inform the property management department. But he doesn't. Almost a month now and he no longer take my calls or responds to text. Tenants of both houses are still in the houses.
--70.158.xxx.xx |
Broker keeping deposite (by plenty [MO]) Posted on: Aug 11, 2020 11:20 AM
Message:
Report to state licensing for RE agents. --99.203.xx.xxx |
Broker keeping deposite (by myob [GA]) Posted on: Aug 11, 2020 11:25 AM
Message:
Is this a broker or agent? If agent report to the broker-- if its a broker report to local board of Realtors. When realtors keep deposits it's required to be in the managing brokers escrow account --- WHY because it doesn't belong to agency but to tenant. VERY STRICT LAWS. --99.103.xxx.xxx |
Broker keeping deposite (by WMH [NC]) Posted on: Aug 11, 2020 11:58 AM
Message:
VERY strict laws.
We had a property management company go OOB with big fines for improperly handling their escrow account. --50.82.xxx.xxx |
Broker keeping deposite (by TenantWhisperer [MA]) Posted on: Aug 11, 2020 11:58 AM
Message:
Time for a personal visit. Then a personal visit to the "management department". Bring a clipboard and conspicuously take names.
Do you have the docs to/from tenant verifying the existence of a security deposit?
--73.16.xxx.x |
Broker keeping deposite (by Nicole [PA]) Posted on: Aug 11, 2020 12:38 PM
Message:
who or what is the "property management department"? In other words, does he think he needs to turn the funds over to someone other than you for some reason? --72.70.xxx.xxx |
Broker keeping deposite (by Ken [NY]) Posted on: Aug 11, 2020 1:16 PM
Message:
I bet he kept the funds for himself and is scrambling to get them together to give to you or thinks you wont push it.I have seen it done before.I would call the state licensing board and put in a complaint,seems cut and dry,i dont see any excuse that would be acceptable --104.229.xxx.xxx |
Broker keeping deposite (by Landlord ofthe Flies [TX]) Posted on: Aug 11, 2020 2:50 PM
Message:
There are strict laws pertaining to deposits. Let the law do the work for you. If he's an agent, complain to his broker. If he's the broker, take it up with the state's Real Estate Commission and file a complaint. All will be handled quickly.
Those are the best options. Wouldn't even bother talking to him anymore. Go up the ladder to the next rung. --108.69.xxx.xxx |
Broker keeping deposite (by Robert J [CA]) Posted on: Aug 11, 2020 4:45 PM
Message:
When a real estate agent did a blunder and refused to cover any part of my costs, I called, wrote them a letter and waited a reasonable amount of time. Then I called their boss, the Broker. Then I called their bonding company. Then I reported them to the Department of Realtors. I had them dead to rights. No one cared.
So then I filed a case in small claims court.
Then I showed up at some of their listings and "Bad mouthed them" -- You know spilling the beans on their integrity.
Then I showed up in court. They offered to pay 50% in a settlement. I accepted. Their check came back NSF. I then went to the police and filed a "fraud" case. Then I contacted the Department of Realtors and filed a second complaint. Still they would do nothing...
When people don't want to pay, it's hard to collect. But with my judgement and bounced check I went back to court and filed for a debtors exam. They did not show up. I wanted to put out a Bench Warrant, but the courts gave them another chance to show up. --47.155.xx.xxx |
Broker keeping deposite (by Hammer [TN]) Posted on: Aug 12, 2020 11:37 AM
Message:
In TN that is a HUGE no-no.
If you report it to the officials there is a good chance the broker will get audited.
Call the broker, ask for it to be resolved immediately if you don't get any traction tell them you will consider it fraud and ask for an audit and investigation. --137.119.xxx.xx |
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