Month: February 2012

Bedbugs a returning problem in rental housing

Posted on: February 28, 2012 by total

February 5th, 2012 Bedbugs are a growing problem in the Chicago area, according to the Chicago Reader, and may be in the state and the nation as a whole as well.

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Landlord Rating Service Now Offering Rental Property Certification

Posted on: February 20, 2012 by total

ShareThis Want to show tenants how you rate as a landlord? The online landlord rating service CheckYourLandlord.com is now offering landlords the opportunity to show off their low-risk ratings. The new “Certified Property Verification Seal” from CheckYourLandlord.com provides renters with assurance that a rental property–and its owners have been independently investigated, reducing risks for both tenants and property managers

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Real Estate Rental Business Growing, Adding Jobs

Posted on: February 18, 2012 by total

January 27th, 2012 The multifamily sector has strong prospects for growth and job creation, according to the National Apartment Association Education Institute (NAAEI). With a growing number of Americans renting, the demand for property managers is rising rapidly. Investors have been drawn in by the industry’s strong fundamentals, according to the NAAEI.

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Defining “Visitors” v. “Roommates”

Posted on: February 17, 2012 by total

January 30th, 2012 When a visitor or guest stays in a rental property long enough, it can begin to have a significant impact. Water, sewer and other bills may go up. If the tenants are paying these bills, then rental managers and owners in this situation may not have a problem.

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How to Select a Lock

Posted on: February 16, 2012 by total

This is a discussion on selecting door locks for apartment communities. Having this conversation ten years ago our consensus was that early in the 21st century we will all have paperless offices and key-less locks. Guess what; didn’t happen. Is your office paperless? Are your communities key-less? The likelihood is low. Electronic locks are the future. They provide a myriad of benefits to commercial multifamily property owners. New developments with on-site management must consider the benefits of electronic locks. Then there is everyone else; those with assets new and old that have 100 year-old technology (older really)- the lock and key

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Tenant Scams to Watch Out For

Posted on: February 16, 2012 by total

Posted by Teresa on January 27, 2012 under Eviction , Tenant Screening & Background Checks | Landlords, have you ever been the victim of a scam pulled off by a “professional tenant?” There are always a few lurking around in the shadows. We’ve heard a few stories lately about landlords who have suffered losses because they unknowingly fell victim to a pro

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Multifamily and Crime

Posted on: February 16, 2012 by total

There is no way to avoid it. If you are in any way involved with income property management then sometime during your career path you and the assets under your management will be impacted by crime. Sometimes, violent crime. I am not exactly sure why crime is such a big seller on television. There are more Cops and Robber shows than ever. Perhaps it is because even a single act of crime impacts so many lives. When crime comes to your doorstep it is usually unexpected and seldom perpetrated by in-place residents. People forget that criminals have cars too. They are mobile

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Tenants’ finances may be stretched by rent growth

Posted on: February 16, 2012 by total

February 7th, 2012 Multifamily Executive reports that data from sources (including rental data firms MPF Research and RealFacts) suggests rental managers may need to stop increasing rents soon. Property management companies and rental owners increased rents an average of 2.3 and 4.7 percent during 2010 and 2011, MFE notes, but the Bureau of Labor Statistics only reported 2 percent growth in wages year-over-year during the third quarter of last year. This suggests rents may significantly outpace wage growth, analysts say, threatening to price residents out of their units.

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Real Estate Finance and Demographic Trends

Posted on: February 16, 2012 by total

With pent up demand for multifamily why is the construction pipeline slow to respond? Credit underwriting. With a plethora of real estate assets available for sale why is sales volume year-over-year about the same? Credit underwriting. Real estate finance is not for the faint of heart. The credit pipes “frozen” in 2008 continue to un-thaw three years later. And reading demographic trend tea leaves is becoming a tricky business. With no end in sight to the current credit crisis, multifamily construction is hampered to the Nth degree. Multifamily owners benefit now, yes, with less product in the pipeline and pressure on rents. However, the need persist for more multifamily housing even as economy begs for construction jobs. With the lingering glut of foreclosures and limited consumer demand for new homes, housing starts have few friends. “Since the beginning of this recession the home ownership rate in the United States has dropped from 69% to 66%” – RBC Capital Markets Do we really need the housing starts going forward? Is there a pending housing shortage? Here are some facts: • Fact: U.S. population growth is slowing to around one percent • Fact: The average age is increasing to over 35 years old • Fact: The U.S.

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When Tenants Sublease Without Your Knowledge

Posted on: February 15, 2012 by total

Posted by Teresa on January 20, 2012 under Eviction , Landlord Tips | Just because you don’t allow subleasing in your rental units doesn’t mean your tenants won’t do it —for a number of reasons.

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