Forest Citys core values are advertised as encompassing intergrity & openness this was not our experience with the company instead The Drake and Forest City Residential misinformed, misguided and then wrongly kept our $500!!
My husband and I signed the Agreement of Application stating a APPLICATION DEPOSIT was not refundable
The Drake's leasing consultant said the line in the "Agreement of Application" was referring to a $100 Application Deposit that we had paid. The Forest City Residential Agreement doesnt state anywhere that it is actually referring to the $500 and not the $100 that is paid. At home we checked our receipt of the $100 we paid and it said Application Fee so we believed the leasing consultant. BIG MISTAKE THEY LIE!!
The Drake leasing consultant said... The $500 was part of the security deposit and would hold the apartment until we signed the leasing agreement. Our receipt from the $500 deposit states that it is a "Holding Deposit" the receipt doesnt indicate anywhere that it is in fact an application deposit.
Furthermore we were never even given a copy of the application or able to see the bottom of the application and what the leasing agent filled out. (I had to returned to the Drake yesterday and demand copies of my file paperwork and the items we signed) Furthermore...the leasing agent gave us a Rental information sheet list all deposits and fees required to rent the apartment. No where does it list this supposed application deposit for $500. I asked the leasing consultant which deposit on this list I was paying for with my $500 he said it is part of the security deposit and I would pay the remainder of the security deposit when I move in
ON THE SHEET it indicates that the security deposit and holding deposits are refundable. Where's my refund'''''

The Drake and Forest City Residential Management have avoided my calls, not returned my Numerous messages and when I did talk to one person in head office they were hostile over the phone. I believe that the companys wording of various fees and deposits do not line up in accordance to the reps usage of them, the breakdown on the Rental Information sheet and the specifics in the application we signed. Therefore it is very easy for them to lie and steal people's money like they did to us!!
We then sought clarification from a trained consultant he further misinformed us on more than one occasion. If there was any doubt in his mind he should have been honest and up front. Instead he led us to believe everything was fine.
A 7.4 billion company you can afford to lose $500 more than they can afford to lose their reputation.
We put our faith in The Drake that being a professionally run company they would have thoroughly trained consultants, after all that is there job to consult clients BIG MISTAKE!!!!!

User Responses
From: ouch3	Date: 08/05/2005
THERE IS HELP FOR FOLKS LIKE YOU THAT HAVE BEEN MANIPULATED AND HURT($).TENANTS' ACTION GROUP LOCATED IN PHILADELPHIA, PA.THE NUMBER: (215) 575-0700.GOOD LUCK.
From: TURN	Date: 04/20/2008
The Tenant's Action Group is now the Tenant Union Representative Network. The new number is 215-940-3900.
From: Anonymous	Date: 12/23/2008
At the bottom of the application, it clearly states that if you cancel the application within 72 hours, your application deposit ($500) is returned. If you cancel after that, your deposit is forefitted. The $500 becomes part of the security deposit once you are a resident. Before that, it is called the "application deposit" not the security deposit. The security deposit is refunded at the end of the lease, as the paperwork states. Its been understood by literally hundred's of people over the years. Some people are just not happy when they don't get what they want, very unfortunate.

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