TULSA, Okla. — The Tulsa City Council is stepping up to help thousands of tenants who are worried about the future of their apartment complex.
Two companies both believe they are the rightful owner of 11 apartment complexes across the metro, and tenants are getting contradictory guidance on paying rent.
WATCH: Tulsa City Council announces informational session for Vesta/YSA tenants
When Vesta owner Marc Kulick defaulted on a loan to a company called YSA, YSA transferred the deeds to itself.
The contract included an irrevocable power of attorney, allowing YSA to “take whatever steps necessary to protect its interests.”
YSA then made an aggressive move: representatives came to Tulsa unannounced and started changing locks to force Vesta out.
Kulick believes YSA needed a court order, and they’re fighting it out in bankruptcy court.
The issue is so rare and complex that even the judge, in the thick of these types of issues, called it chaotic.
“When a judge who has been doing this 20 years is shocked, that’s saying a lot, right?” they said.
While the courts decide, the Tulsa City Council is hosting an information session, so connect them with resources like Legal Aid and Housing Solutions.
“This is all new to us as we navigate these waters with the residents, but we are going to do it hand in hand,” said Gilbert. “I’m sure a lot of residents are losing sleep, but we want them to know we are here to help them.”
Many residents just want to know whether to pay rent, and to which company.
Vesta is saying not to pay anyone right now. YSA is saying rent is due to them.
An emergency hearing is underway this week that will hopefully provide further clarity before the August 1 rent due date.
The information session is July 30 at 6:30 pm at LIFE Senior Services.
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