UPDATE: I have nothing good to say about these people. I had to threaten legal action before they finally returned my money--which they had no claim to at all. Although they have attractive buildings, and, in our case, a most attentive resident manager (Luis Landos), I won't recommend doing business with them.
These people are thieves. I post here because Yelp reviews seem to be among the few things that get their quick attention.
B&T has been holding nearly $5,000 of mine for two months with zero justification. This is not a simple security deposit matter. The company has no claim to the money.
I see from other reviews here that plenty of other people have similar problems with the company. I actually wrote a positive review in 2020 about the company. As you will see, my opinion has changed considerably.
Below is a letter I wrote to the top executives of the company on July 5, 2022, outlining the problem and asking for my money. I have received several subsequent notes from underlings assuring me that some money, the amounts vary, will be returned. But it's now a month later, and I have yet to see one dollar.
I wrote them again today (Aug. 8): "So when do you think your people are going to get around to sending me my money?"
Their reply: "We are following up to let you know we are still working internally to find a solution for your issue. We will keep you updated when more information is available. Thank you for your patience as we work on this pressing matter."
Here are the facts, as I explained to the executives a month ago:
Mr. Greg MacDonald, CEO
Mr. Ryan Brewer, Managing Principal
Ballast Investments
351 California Street, 14th Floor
San Francisco, CA 94104
Dear Messrs. MacDonald and Brewer:
I want to open what will ultimately be a most unpleasant letter with a note of great appreciation for the two years my wife and I spent in one of your apartments--the very special XXX Austin Street (XXXX Gough Street, XXXX). We moved in just as the covid crisis began, and we always considered the place our "pandemic palace," providing just the right levels of comfort and security that we wanted and needed in such a trying time. We also felt that B&T always treated us well and took good care of the property.
That said, however, I am outraged that B&T is holding nearly $5,000 of mine for no good reason.
We moved back to New York this spring, vacating the Austin Street apartment on May 5. We were caught in New York co-op approval limbo, and could not give proper 30-day notice of our departure. I wrote B&T on April 29, immediately upon learning that we had our final approvals in New York. I offered to pay the full 30 days of rent, but Mr. Ryan Razon graciously waived the 30-day period and instructed me to write a check for prorated rent, through the 5th: "Regarding your prorated rent here is how you can get it (Monthly rent 5125.00/31*5 Days $826.61) is your prorated rent..."
I gave the check to Luis Landos, the resident manager, on the day we left. I wrote "Prorated May Rent" in the memo line. B&T cashed it. Everything seemed to be in order.
After a couple of weeks, I received a Liveable [trash and sewer] bill for $193.45. Before I had a chance to pay it, however, I realized that I had failed to shut down my automated bill-paying service, and it had sent a $5,125 check to B&T for an unnecessary June 1 rent payment.
I immediately wrote Mr. Razon (May 25), informing him of the bill-paying error and asking him to deduct the Liveable bill from the total and to return the balance to me. He responded: "We wanted to let you know that if in case we receive it within the SDR refund time frame, we will send it back to you along with your refund." Again, everything seemed to be in order.
Then, a month later, I saw that B&T cashed the erroneous check, and, after much back and forth before and after the [Independence Day] holiday weekend, Mr. Razon informed me that B&T is charging me for the full month of May and "you will receive. $939.79 before move inspection charges."
No. That is not right. B&T owes me $4,931.55--the erroneous $5,125 check, less the outstanding Liveable bill. Anything less is unacceptable. We were excellent tenants, and this is no way to treat us.
I appreciate your attention to this matter and expect you to authorize the return of my money.
Regards,
XXXX XXXX read more