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All Forum Posts by: James Slocum

James Slocum has started 1 posts and replied 4 times.

Post: looking for agent in Binghamton

James SlocumPosted
  • Investor
  • Binghamton, NY
  • Posts 4
  • Votes 0

I would reach out to Exit Realty for any real estate needs especially student housing.  I have worked with several agents there.  John Farrell, Robert Farrell, & Tommy Reid are all great.  Additionally they have an excellent staff supporting them.  I have personally bought/sold over 1 Million (Most Student Housing) through that office.  

John Farrell (607)760-5000

Originally posted by @William Morrison:

Did the dad co-sign?
If not he can't cancel for his son if as you said he's of legal age.
You don't have a contract with him.

 No the Dad did not co-sign.  He had his son send an email immediately after our conversation saying he was not going to live there and I had his permission to rent to someone else.  

Originally posted by @Roy N.:

I'm confused.  Is the lease signed with the son?  Is he of legal age?  Then he entered into a contract and has breached the terms of the agreement.

You probably could pursue this, but I would focus more effort on getting the unit re-rented.  If your application/lease process obtains consent for reporting rent payments to a credit agency (ours does an part of the consent to pull the applicant's credit history) I would report the default on their credit file. 

I would also check the landlord tenancy law to ensure that their default on the security deposit voids the contract and you will retain possession of the unit.  If not, then you may need to go through the motions of an eviction once they fail to pay rent.

 Yes, the son signed the lease and was of legal age.  But he had Dad call to say he would not be living there and will not answer me or respond to any communication.

I recently signed a lease with a local university student about 30 days ago.  Then I received a phone call today from his father informing me that his son was not going to live there even though I got a text message from the son about 5 days before about how excited he was to live there.  The father indicated a problem with the crime in the neighborhood which has crime statistics in line with the rest of our city.    I rented him the apartment during the big push for renting for the following semester and am now in fear that I can not get it rented to someone else.  The tenant is not answering my calls or returning calls or emails.  The lease does not actually start until June but he was required to pay last months rent and security upfront.  

Is it a crime in New York State to put a stop payment on a check for a security deposit if you change your mind?  He signed the lease and was mailing the check.  The lease had been signed for about 25 days and I had the check for about 15 days.  Will the police help?  

I do not have a current address locally, only one from "home" about 3 hours away so small claims would be difficult unless I can eventually find out where he ends up living next year.

The lease clearly states that the security deposit is lost if he does not live out the term of the lease at the property.  This includes subletting.  

I had emailed him the lease because he was a young man so he could forward it to his parents.

The property itself is top of the line and the crime they referenced is consistant with the rest of the city.

The majority of the housing stock in this city is from the early 1900's.  Its not the first time a parent has come into town to visit and driven by the apartment their child has rented for the upcoming semester and gotten a little culture shock but I they usually offer some sort of buy out.  This guy just put a stop payment on the check and went silent!

Thanks for your help!