Thursday, October 12, 2023

Bait and switch

The retail place I was going to lease was listed at $2.50/sf/yr. I should have known something was up when the person at the property management company drug his feet and, even though he knew I was ready to sign the lease before I met with him on Tuesday, sprung "there's an application proceess" on my at our meeting, and said he'd email me a link. The whole process started via email, and I had already met his maintenance person, so why would he wait to spring this on me? Disappointed, but still OK. I had been talking about how a big driver for me was the low cost of the lease, and he never corrected me, so we never discussed price other than what the "modified gross" term of the lease included and didn't include. So, we're walking out of our meeting, I'm a little bummed about not having signed the lease and taken possession at our meeting, and he springs the cost on me which comes out to over $14.50/sf/yr. It's not like he had it listed at the lower price on one site. No. It was listed that way on several sites. Because it is still listed that way, despite having over 48 hrs to have had it corrected, I'm going to assume it's an attempt at bait-and-switch, and this is why it's sat empty for so long. Debating reporting it to the state AG to force corrective action with the listing, as it is deceptive and wastes a ton of time for any interested party. My guess the manager drags his feet and wastes so much time that it's not worth it to walk away from, but I was going to lease it more because I'm a hobbyist who needs space, not because I actually need it for commercial reasons, so I had no choice but to walk away from it when it significantly more than I expected. Bummed, but oh well. With the additional utilities and such, it may have spread me a little thin, so he probably saved me from a bad decision ;)

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