CitiApartments Put on Death Watch
Large San Francisco rental operator says it is broke
Friday, Jul 3, 2009 | Updated 9:38 AM PST
CitiApartments in San Francisco is facing foreclosure on several of its properties and is now telling tenants it is broke.
More problems over at CitiApartments... a reader sent us an email detailing his attempts at receiving his deposit back from CitiApartments. It's quite the horror story. After 21 days the unlucky fellow still hadn't seen a dime or heard a peep from them, even when he contacted the person in charge of handling tenants' security deposits. Shoot forward 20 days past the deadline required by law to return deposits, and he was signing a settlement agreement and they were writing him a check... for the wrong amount. At this point our reader was fed up and wanted some justice, so he refused to sign the agreement until he could speak to their general counsel.
When he finally got a meeting with their general counsel, they told him multiple times that CitiApartments was "broke" and that they can't pay everyone their deposits because they're under foreclosure action. They wouldn't budge on the settlement, so our reader's options were take the offer (a new check for the right amount) and sign a settlement or sue.
In the end he took the money and signed, mostly because it's time consuming and also because he was concerned that they'd file for bankruptcy before he could get his cash back.
Terrible, isn't it? So, dear readers, should we officially put CitiApartments and the Lembi Group on death watch, especially because of recent events and our own reader stories?
· Tales of Squalor at CitiApartments Building [Curbed SF]
Posted Friday, Jul 17, 2009 - 11:48 AM PST
