Laurel Realty

Initial Business Response /* (1000, 10, 2015/06/18) */
Contact Name and Title: *** *** Agent
Contact Phone: XXX-XXX-XXXX
Contact Email: ***@laurelrealtysf.com
Laurel Realty has been renting properties for the past yearsThe "Property Management Agreement" that Laurel Realty uses is
the same for every propertyThis is the first "owner" complaint we have received regarding security deposits and rental incomeThis complaint is completely unfoundedLaurel Realty has all records to prove there was no breech of contract and the "owners" have received all their money
This "owner" was referred to Laurel Realty by a long time client and customer in April The "owner" wanted to sell this property so Laurel Realty conducted a market analysis and inspected the propertyAfter discussing the tax consequence from selling the property with the "owners", the decision was made to rent property instead of selling
The property was in need of maintenanceLaurel Realty was asked to obtain estimates to bring property into a rent able conditionJuly 5, the property was inspected and an estimate was given of $for necessary repairs/improvementsOwners reviewed estimate and did not want to spend such a large sum of money out of pocket
After months of back and forth and wasting time by the "owner" Laurel Realty was given approval to have the minimal amount of work completed"Owner" gave approval to do $worth of workWhich is less than half of what was advised by Laurel Realty"Owner" did not want to pay for this work out of pocketA verbal agreement was agreed upon by the "owners" and Laurel Realty that the payment for this work completed prior to rental of property would be deducted from the 1st months rent and security deposit
The work was completed on October of and the property was rented in December of The following chart will show the cash flow for the Security Deposit and December rent that is in question
1st months rent December $
Security Deposit $3,
$4,
Owner Approved Repair Work ($2,100.00)
Total remaining from 1st months and Security Deposit $2,
Deductions Per Property Management Agrement
Property Insurance paid by Laurel Realty ($141.15)
Management Fees ($50.00)
Leasing Comissions ($1,850)
Remaining Balance after all deductions $Check #paid to owner
Due to the sub par conditions of the property, the 1st tenant moved outA new tenant was found who was willing to move into the property immediatelyAdditional work was completed while the new tenant lived in the propertyThe "owners" didn't incur one day of loss rent as a result of the diligent work of *** *** finding a tenant to move into a sub par property
To date, all rent and security deposit monies have been accounted for and given to the "owners"Monthly statements were given to the "owners" and an attempt to review these statements with the owners was refusedEach credit and deduction is accounted for in black and white, but the "owner" refused to take minuets to review this with *** *** of Laurel Realty
The "owner" who is accusing Laurel Realty of taking their money, has yet to pay for the $5,of additional repair/improvements that were completed in April
Again, this complaint is completely unfoundedLaurel Realty has all records to prove there was no breech of contract and the "owners" have received all their moneyLaurel Realty is open and willing to discuss this matter with the "owners" at any time that is convenient to them