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Apartment Building company bankruptcy
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Author:  Gloopan Kuratz [ Thu Apr 21, 2016 11:53 am ]
Post subject:  Apartment Building company bankruptcy
I currently live in an apartment building with about 80 apartments. Yesterday in the mail I get a letter saying that the LC that owns the building filed for bankruptcy. I was already planning to move out soon. I owe one more month rent. With them going bankrupt, there is no way I'd get much of a deposit back. So should I skip paying the last month?
Author:  JORR [ Thu Apr 21, 2016 11:53 am ]
Post subject:  Re: Apartment Building company bankruptcy
Gloopan Kuratz wrote:
I currently live in an apartment building with about 80 apartments. Yesterday in the mail I get a letter saying that the LC that owns the building filed for bankruptcy. I was already planning to move out soon. I owe one more month rent. With them going bankrupt, there is no way I'd get much of a deposit back. So should I skip paying the last month?



I would. Let the trustee chase you.
Author:  Hatchetman [ Thu Apr 21, 2016 11:54 am ]
Post subject:  Re: Apartment Building company bankruptcy
Tell 'em you'll pay when you get your deposit back.
Author:  Hatchetman [ Thu Apr 21, 2016 11:54 am ]
Post subject:  Re: Apartment Building company bankruptcy
How the hell does an apartment company go bankrupt in this market?
Author:  rogers park bryan [ Thu Apr 21, 2016 11:55 am ]
Post subject:  Re: Apartment Building company bankruptcy
Pay it and 3 extra months to show them you mean business.
Author:  bigfan [ Thu Apr 21, 2016 12:02 pm ]
Post subject:  Re: Apartment Building company bankruptcy
Lotsa shit , but odds are a reciever will be assigned to manage the property who will act just like a Landlord, thats what they do, manage the building when it goes bad, they take a fee and they pay the bills, manage the grounds, etc and try to sell it.

We dd it for awhile, usually the property gets really bad though before a reciever is assigned.
Author:  Gloopan Kuratz [ Thu Apr 21, 2016 12:36 pm ]
Post subject:  Re: Apartment Building company bankruptcy
Once he's bankrupt, wouldn't I have to file with the court like any other person that they owe money to, just to get my deposit back?
Author:  billypootons [ Thu Apr 21, 2016 12:39 pm ]
Post subject:  Re: Apartment Building company bankruptcy
Gloopan Kuratz wrote:
I currently live in an apartment building with about 80 apartments. Yesterday in the mail I get a letter saying that the LC that owns the building filed for bankruptcy. I was already planning to move out soon. I owe one more month rent. With them going bankrupt, there is no way I'd get much of a deposit back. So should I skip paying the last month?


i like your angle

Image
Author:  Brick [ Thu Apr 21, 2016 12:40 pm ]
Post subject:  Re: Apartment Building company bankruptcy
Gloopan Kuratz wrote:
I currently live in an apartment building with about 80 apartments. Yesterday in the mail I get a letter saying that the LC that owns the building filed for bankruptcy. I was already planning to move out soon. I owe one more month rent. With them going bankrupt, there is no way I'd get much of a deposit back. So should I skip paying the last month?
Move.

Oh....
Author:  bigfan [ Thu Apr 21, 2016 1:51 pm ]
Post subject:  Re: Apartment Building company bankruptcy
You have no idea why the building is in BK.

Was it pledged in another loan and that deal went bad? and thus they are required to include this in the BK filing.

My guess, that is the issue.

I'd pay the rent.

Then when you dont get your sec dep back, go find some online rental lawer who will drop a 30K lawsuit on them. Shitty system, but you may as well use it.
Author:  denisdman [ Thu Apr 21, 2016 2:06 pm ]
Post subject:  Re: Apartment Building company bankruptcy
Not sure what class a renter's deposit would be in B/K court. I have to wonder if that is one of those protected buckets. But honestly, I wouldn't pay it. I'd send a certified letter saying you are using your deposit as an offset for last month's rent. Tell them they can keep the deposit.
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