realestate

Tech Firm Pays Rent in Error for 16 Months

Yardi Systems sues Hoehn Management Group for $750,000.

A
real estate software firm, Yardi Systems Inc., is suing its former landlord for $750,000 after allegedly overpaying rent by $240,000. The company claims it accidentally sent checks to Hoehn Management Group every month from November 2023 to February 2025, totaling $14,996 each time.

    Yardi leased space at Highland Place I in Centennial for 11 years before moving out in September 2023. According to the lawsuit, Hoehn Management knew about the overpayments but didn't contact Yardi about them. When Yardi discovered its mistake in March of this year, it demanded a refund, which was ignored.

    Yardi's lawyers argue that Hoehn Management breached their contract and committed civil theft by failing to return the overpaid funds. The company is seeking $750,000 plus interest. In response, Hoehn Management has vowed to defend itself against the allegations and may file a counterclaim for additional damages.

    The dispute comes as Hoehn Management prepares to purchase the neighboring Highland Place II building in July for $7.1 million, a significant discount from what it paid for Highland Place I.

Tech firm pays rent in error for 16 months in downtown office building.