Bedly, a short-term rental company that offers shared spaces in Bushwick, Bed-Stuy, Crown Heights, and Harlem, appears to have closed abruptly, leaving likely hundreds of tenants scrambling for a new place to live.
It’s an ominous development considering the booming growth of short-term and co-living companies in NYC, which aim to take the pain out of renting in NYC.
A tipster using a fake email address sent Brick Underground a copy of an email that went out Sunday evening announcing that Bedly was ceasing operation and “handing the relationship to the landlord of the building.”
The email touts the firm’s accomplishments while thanking tenants for “joining us, helping us accelerate the future of housing and having a positive impact.”
The firm operates similarly to a co-living business in that it matches you up with roommates and offers a turn-key approach to renting. It rents out privately owned apartments, which are decorated and outfitted with furnishings and appliances by the company.
Bedly landed a $2.7 million seed round led by Cambridge-based Accomplice in 2017 and also has listings in Boston and Jersey City. (Bedly received a total of $7 million in funding.)
A phone number associated with the company has been disconnected. When reached by email, Martin Greenberg, CEO and co-founder, offered to hop on a call next week. Brick Underground aims to bring you a fuller story then.
Benjamin Chester, the other co-founder, is still listed on the website, however his LinkedIn page shows he took another job in January. Neither he nor several other employees invited to comment chose to respond.
Below is the text of the email in full, sent by the tipster who claims to have been renting for over one and a half years at a Bedly building.
From: Bedly Support
Date: Sun, Jul 21, 2019, 6:12 PM
Subject: Bedly Transition
Dear Bedly Members,
For the past four years we at Bedly have worked tirelessly to accelerate the future of housing and make a positive impact on people’s lives. We’ve managed close to 1,000 rooms and provided housing for over 3,000 Bedly members across the east coast. We spearheaded the concept of co-living before there were any players in the space and have created a massive movement across the industry. With that said we’ve reached as far as we can go and we’ll be closing up our operation here and handing back the relationship to the landlord of the building.
We’ve outlined below what this means for you so you can have a smooth transition in your housing:
We’ll be handing back the property to the landlord and your leases with Bedly will no longer be valid. To stay in the apartment you will need to sign a new agreement with the landlord directly. If you had requested to room switch to a different room in the future that will no longer be possible since Bedly will no longer be operating those properties.
Your auto-billing will be turned off and you will not be charged for August via the Bedly Portal. If you are staying in your unit you will need to sign a new agreement with the landlord.
Our Support and Maintenance Staff will no longer be on call. This means you will need to reach out to the landlord directly to get a new lease or any maintenance related issues:
Utility accounts will be closed out in the next 24-48 hours, and you and your unit will need to register and open accounts for your unit.
Thank you so much for joining us, helping us accelerate the future of housing and having a positive impact. The momentum we’ve made together will have a lasting impact on the co-living industry and we will have impacted hundreds of thousands of lives in the process.
Editor's Note: Are you a current renter at a Bedly location? Want to tell us your story? Email us here. We respect all requests for anonymity.
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