extortionNot extortion at all. This is only in the case where owner has good cause to believe that David's won't honor contract. Owner can cancel reservation, sell it to someone else, ask renter to make up the difference from David's, etc. Owner does have to return the funds it received though, but other than that can do whatever it wants to make itself whole or mitigate the damages.
Pronunciation /ikˈstôrSH(ə)n/ /ɪkˈstɔrʃ(ə)n/
NOUN
- The practice of obtaining something, especially money, through force or threats.
You can call David's and say you want paid what the contract stipulates. You cannot contact the renter and ask for more. You are threatening to cancel their reservation if they don't pay more than the contract that you signed agreed to. It's extortion. Period.
I think you misinterpreted what I was saying. No, I'm not going to pull the rug out from anyone. Because I have a second renter, the broker needs to keep me "happy", right? On the second rental, well I have no leverage. I also indicated that if I have to, I will take a hit on the 30%. Please read my post again - maybe I was not articulate, but I have always been a good negotiator and expect that a phone call, if needed would at least get October paid in full. Sorry again if my post was unclear.
My reply was to the person that replied to you about reviewing the later contracts and using them to get payment for the earlier contract. My comments really had nothing to with what you are planning.