How to claim our rents as promised by the agent?
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How to claim our rents as promised by the agent?
We purchased a multi family house from an agent about 6 years ago. In the agent’s brochure stated that the house were rented to 2 tenants each paying $600 per month total $1200/month. However, after purchase we found there was only 1 tenant in place paying $550 and the new tenant was never be placed on closing as stated in his brochure. On our requests, the agent promised many times to place a new tenant who will be paying $650 per month to make up a total rents $1200 per month for us. However, after 3 months the agent keeps delays on new tenant’s placement. Is this a breach of advertisement and mislead us to purchase this house? How can we claim back the rents promised in the agent brochure and make sure the new tenant will be placed?
Asked on February 19, 2019 under Real Estate Law, Ohio
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Based on what you write, the agent may have committed fraud: intentionally or knowingly misrepresenting an important fact (the occupancy and rent), upon which you relied in deciding the buy the home. Fraud would normally provide a ground or basis to sue, such as for the money you lost out on due to the fraud; unfortunately, it appears to be too late to take any legal action. All lawsuits must be initiated or filed within what is known as the "statute of limitations." The statute of limitations in your state for fraud is four years; however, if you bought the home six years ago as your write, that means that the fraud occured at least six years ago--when the agent represented that you had two tenants in the home paying $600 each per month in rent. You would have had to have started your lawsuit within four years of the fraud or misrepresentation; if six years have gone by, too much time has passed and you can no longer take legal action.
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