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CalAttorney2
CalAttorney2, Lawyer
Category: Real Estate Law
Satisfied Customers: 10238
Experience:  I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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I rented a commercial location years then I sold my business

Customer Question

I rented a commercial location for 10 years then I sold my business but the management company required me to stay on as a guarantor until my lease was over my lease ended july1 2015 then the mangemnt allowed the tenants to stay on as a month to month basis they will not give me my deposit back they say because a new lease was not signed do they have the right to change the terms of the lease and then keep my deposit they have the other tenants deposit also
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  CalAttorney2 replied 1 year ago.

I am sorry to learn of this situation.

You have 2 remedies:

  • Sue the landlord for breach of contract in small claims court (CO allows small claims up to $7,500.00) https://www.courts.state.co.us/Forms/SubCategory.cfm?Category=Small
  • Short of filing a lawsuit, you can try to mediate the dispute with them - contact your local bar association and request referrals to mediators, a third party neutral can often help you reach a mutually agreeable resolution. Use the bar association's referrals to contact a mediator or two, the mediator will then contact the other party to set up a mediation session, and you can go from there - hopefully resulting in a formal or written settlement agreement, and save yourself the time and expense of litigation.

I would recommend starting with mediation, then filing suit (a good mediator should be able to help you resolve this, if they aren't then you can file suit, the only thing you would have lost is a half day with a mediator, and the potential upside is saving yourself 3-8 months in small claims court).

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