Nationwide

Fri
09
Jun
The Editors's picture

Current Economic Data Supports Multifamily Investments

The macro data suggests that multifamily investments and properties continue to be a strong performing asset class, says the CEO of a specialty investment bank focused on real estate, according to a release.

Multifamily is still supported by strong economic fundamentals, generally outperforming most other property sectors, David Blatt, CEO of Capstack Partners says in the release. Lenders have recently begun to express caution about financing new multifamily investments because of concerns that there is too much inventory. Many banks share the belief that the added supply will cause vacancies to increase and rents to drop, especially those lending into primary and high growth markets, which have been seeing the most investment activity over this last market cycle.

Thu
08
Jun
The Editors's picture

Apartment Management Company Steps Up Airbnb Lawsuit

Landlord and property management company steps up Airbnb lawsuit

A large landlord and property management company has amended its Airbnb lawsuit to seek class action status on behalf of all property owners harmed by Airbnb, according to a release.

Apartment Investment and Management Company (Aimco), headquartered in Denver, Colorado,   has filed an amended complaint against Airbnb in the Superior Court of California seeking injunctive relief and restitution under that state's Unfair Competition Law and broadening its claims to include all apartment owners whose properties have been rented without Airbnb's first obtaining their permission. Aimco also filed an amended complaint in its second lawsuit against Airbnb in Miami-Dade County, Florida, Circuit Court.

Tue
06
Jun
The Editors's picture

Now Seattle Wants To Require Landlords Give Tenants Voter Information

Seattle wants to require landlords to give tenants voter registration information

The Seattle City Council is proposing another ordinance putting yet another requirement on landlords in the city this time to provide information to tenants about how to register to vote and how to update voter registration information.

Under a new ordinance proposed this week, landlords would have to provide new tenants with voter-registration information. Landlords are already are required to give tenants a packet of information on housing laws that’s prepared by the city’s Department of Construction and Inspections, according to reports.

Tue
06
Jun
The Editors's picture

Seattle Company Buys Echo Lake Apartments in Shoreline

Seattle company buys Echo Lake Apartments in Shoreline, Washington

A Seattle company has bought the Echo Lake Apartments, a 289-unit apartment complex in Shoreline, Washington, according to a release.

Security Properties and Intercontinental Real Estate Corporation ("Intercontinental") announced the purchase of the property, which also has almost 9,000 square feet of retail built in 2009.

This brings Security Properties holding to 18 assets in the Puget Sound region.  The asset was purchased in the fourth joint venture between Security Properties and Intercontinental.

"Echo Lake Apartments falls right in line with our strategy of buying in the best micro-location in a submarket,” Davis Vaughn, Director at Security Properties, said in the release.

Tue
06
Jun
John Triplett's picture

3 Things Proactive Property Managers Want To Know About Roofs

3 things proactive property managers need to know about roofs

Multifamily property managers have two interests at heart - they don’t like their roofs to leak and they don’t want to spend any more money on them than they have to, according to a multifamily roofing expert

By John Triplett

Rental Housing Journal

“Regular maintenance and a good roofing contractor can help. If, for example, property managers have their roofs walked at least annually, and preferably semi-annually, the roofer can verify all roofing penetration areas are water-tight and sealed as needed,” Eric Skoog, owner of Sunvek Roofing in Phoenix, said in an interview with Rental Housing Journal. “Also, on pitched roofs, valleys need to be cleaned out so water or snow can move quickly off the roof, resulting in less chance of damage and water entry.

Thu
01
Jun
The Editors's picture

Philadelphia Apartment Rent Hikes Lead The Nation In June

Apartment rents in June top 10

Although nationwide one-bedroom apartment rent has nearly returned to the January 2017 mark of $1,016 — after a March low point of $1,003 — in certain cities, rent prices have been more volatile, according to a new release from Abodo.com.

For the first time this year,New Orleans has fallen out of the nation’s top 10 for greatest rent rises. In its stead, Philadelphia, PA, leads the pack with an 11.7% increase — one of the largest rent hikes this year, second only to an 11.8% increase in NOLA for April 2017.

The substantial rise in Philly rents is surprising, since for much of the year, the City of Brotherly Love has seen only decreases in rent prices.

See all the apartment rent charts from Abodo.com here.

Tue
30
May
The Editors's picture

Landlords Sue Seattle Over Tenant Move-In Fees Ordinance

Landlords sue City of Seattle over ordinance for second time in past few months

For the second time in recent months, Seattle landlords have filed suit against the City of Seattle this time over an ordinance that requires them to allow tenants to pay security deposits and other move-in fees in installment payments over time.

The Rental Housing Association of Washington (RHAWA), with more than 5,000 members, has filed suit in King County Superior Court to overturn Seattle’s ordinance regulating tenant move-in fees and requiring landlords to extend payment plans to tenants, according to a release.

Tue
30
May
John Triplett's picture

Solving The Pet Pee Needs In An Urban High-Rise Apartment

A new company helps solve the pet pee issues in high-rise apartment buildings

How to solve pet pee needs in the middle of the night when you live in a high-rise apartment can be a real challenge. A San Diego start-up company has come up with a unique product that helps both property managers and tenants.

By John Triplett

Rental Housing Journal

As an individual living in a high rise condo or apartment, one can imagine how difficult it can be when your pet needs to go out to pee in the middle of the night.

Tenants don’t have the option of opening the back door to a large grass backyard. It requires getting dressed, leaving the unit, going in the elevator, and eventually outside.

In a city like San Diego that is embracing and building denser multifamily housing, moving from suburban environments to urban neighborhoods creates issues and difficulties for dogs and their owners when they need a grassy spot.

Some dogs handle the adjustment to high rise living without incident. For others, it can be a challenge.

Mon
29
May
The Editors's picture

Tenants United Protests Portland Property Managers Awards Ceremony

Protests at last year's ACE awards in Portland held by Multifamily NW

Protests by Portland Tenants United  happened for the second year in a row at the annual awards ceremony of a Portland property management association as pickets showed up at the event, according to various reports.

The protesters were at Multifamily NW’s annual recognition ceremony for outstanding work by property managers in the Portland area, called the ACE awards, held by Multifamily NW which is an association promoting quality rental housing.

Demonstrators lined the sidewalks around the event. There was no report on how many demonstrators were at the event.

Mon
29
May
The Editors's picture

Seattle Company Buys Arizona Apartments For $85 Million

Arizona apartments purchased for $85 million by Seattle company

A Seattle company has bought a 576-unit complex of Arizona apartments in the Ahwatukee area of Phoenix, Arizona for $85,250,000, according to a release.

The multifamily property purchase of the Andante Apartments was done by Security Properties and Pacific Life Insurance, making this the fifth asset in the Phoenix marketplace for Security Properties.

The Andante Apartments are located in the Phoenix suburb of Ahwatukee, on the south side of South Mountain Park. Ahwatukee is characterized by its affluent demographic, low crime rate, strong school district and close proximity to employment corridors.

Pages

Subscribe to RSS - Nationwide