UDR is in big trouble. Almost 15 percent of the R...

2009-05-26T10:54:18.815-07:00

UDR is in big trouble. Almost 15 percent of the REIT's national revenue is generated in Orange County, California.

It was recently discovered by a tenant advocacy group in California that the company is using expired DBA’s and false names to contract with tenants. The group claims that UDR did this to obtain and sustain a legal advantage over its tenants and diminish tenant based lawsuits.

The advocacy group’s owner and founder, Erin Baldwin, can be reached for comment 714-617-4703 or at octenanthelp@aol.com. Unfortunately, the group’s recent blog reporting this information was shut down.

UDR also fails to include the name of their agent for service of process in their leases as required by law, nor maintains an up to date address for the agent with the California Secretary of State.

UDR leases used in California contain unlawful and oppressive exculpatory clauses as well as liquidated damages clauses in violation of the California Civil Code as well as recent case law.

Finally, UDR Orange County property leases include a Ratio Utility Billing System (RUBS) policy and procedure that is extraordinarily uncertain, vague, unconscionable and oppressive to tenants.

The advocacy group claims that UDR is earning a profit off of their utility services by illegally selling water, a direct violation of the Public Utilities Commission.

Double,Thanks for stopping by. I am happy that you...

2008-09-10T06:19:00.000-07:00

Double,

Thanks for stopping by. I am happy that you liked the post.

Best Regards,

Dividend Growth Investor

I am very impressed with the analysis.

2008-09-09T19:29:00.000-07:00

I am very impressed with the analysis.

Comments on Dividend Growth Investor: UDR Dividend Stock Analysis

UDR is in big trouble. Almost 15 percent of the R...

Double,Thanks for stopping by. I am happy that you...

I am very impressed with the analysis.