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Mon
19
Feb
The Editors's picture

More Homeowners Will Be Matched With Long-Term Renters

More Homeowners Will Be Matched With Long-Term Renters

New research says demographic shifts and the sharing economy will lead to more homeowners with spare bedrooms being matched with long-term renters.

 “Home sharing will gradually take a sizeable dent out of housing demand,” write Mikaela Sharp and John Burns, of John Burns Real Estate Consulting. They say 44 million empty bedrooms await.

“Just like Uber matches car owners with passengers and Airbnb matches homeowners with short-term renters, new technology companies match homeowners with long-term renters. These sharing economy technologies will keep household formation and new home construction lower than most have projected,” they write.

Mon
12
Feb
The Editors's picture

Property Management Cyberattack Risks Overlooked, Underestimated

Property Management Cyberattack Risks Overlooked, Underestimated

The Grace Hill training tip of the week focuses on the issue of property management cyberattack which is often overlooked and underestimated.

By Ellen Clark

Due to lack of federal oversight and regulation, property management companies’ cybersecurity programs may be relatively less developed and less sophisticated than in other industries.

This could make them a more attractive target for cybercriminals looking for an easy way to steal personal data.

We hear a lot in the news about data being exposed or stolen by cyberattacks in healthcare, banking and retail industries. But we tend to hear less about such attacks in the property management industry, even though they have happened before and will likely happen again.

 As a result, the risk of cyberattacks in the property management industry may be overlooked and underestimated.

Mon
12
Feb
The Editors's picture

6 Types Of Fencing For Your Rental Property

6 Types Of Fencing For Your Rental Property

Fencing for your rental property is the maintenance checkup this week, provided by Keepe, who reports getting a record number of repair requests from property managers and tenants about weather-damaged and broken fences this winter.

When it comes to installing a fence on your rental property the kind of fencing you choose can make a serious difference on your finances, maintenance  and most of all, the safety of your tenants and your property.

Broken fencing can be an inconvenient and time-consuming expense. Being prepared against costly last-minute repairs is possible, and it begins with knowing how to best protect your investment.

6 types of fencing for your rental property

Different kinds of fencing materials have different maintenance needs, which are fundamental to explore for the purpose of selecting which fencing option really is best  for both your needs and expectations.

Fri
09
Feb
The Editors's picture

Rent Control Does More Harm Than Good New Study Says

Rent Control Does More Harm Than Good New Study Says

A new study by Stanford University professors of rent control in San Francisco concludes that it does more harm than good and can cause housing shortages that reduce the number of low-income people who can live in a city.

Economists Rebecca Diamond, Timothy McQuade and Franklin Qian did the study, “The Effects of Rent Control Expansion on Tenants, Landlords, and Inequality: Evidence from San Francisco.”

“Steadily rising housing rents in many of the U.S.’s large, productive cities has brought the issue of affordable housing to the forefront of the policy debate and reignited the discussion over expanding or enacting rent control provisions,” the report states.

 

Fri
09
Feb
The Editors's picture

Apartment Amenity Company Partners With Denver Property Manager

Apartment Amenity Company Partners With Denver Property Manager

A boutique apartment operator in Denver and Colorado Springs, Urban Phenix, has partnered with a lifestyle apartment amenity company, Amenify, to offer different types of on-site lifestyle experiences to residents, according to a release.

​​​​​​​​​​Urban Phenix, a boutique apartment operator in Denver and Colorado Springs, is partnering with Amenify to offer daily dog walks, apartment cleanings, massages, and personal training sessions. Urban Phenix is also building local partnerships with nearby gyms and yoga studios.

“We are thrilled with our properties’ participation rates. It’s wonderful to see that over 70% of our residents are enjoying their upgraded lifestyle with these amenity services” Nick Lazzarra, President of Urban Phenix, said in the release.

Fri
09
Feb
The Editors's picture

Company Acquires Lighthouse Apartments In Seattle Metro

Company Acquires Lighthouse Apartments In Seattle Metro

Freshwater Investments has purchased The Lighthouse Apartments, a 76-unit property in Kent, Washington, for $16.5 million, according to a release.

This is the second property in the Seattle metro area that Freshwater has added to its portfolio. The company also owns the 93-unit Stinson Apartment Homes in Everett, WA.

 “The Seattle metro area continues to be a sought-after location with high potential. With this acquisition, we have almost doubled our portfolio here and created new opportunities for our investors,” Alex Rozenfeld, Freshwater Investments Founder and Managing Partner said in the release.

Tue
06
Feb
The Editors's picture

Portland Mayor Flip-Flops On Small Landlords Exemption

Portland Mayor Flip-Flops On Small Landlords Exemption

After first saying he wanted more study on the issue, Portland Mayor Ted Wheeler now favors removing the exemption for small landlords who own only one property and require them to pay moving expenses if they evict a tenant for no-cause or increase rent more than 10 percent, according to reports.

Wheeler said in a statement last month  more information is needed before he would support removing the exemption for landlords who own only one property.

Tue
06
Feb
The Editors's picture

Multifamily Managers And Marijuana: Caught In A Pot Crossfire

Multifamily Managers And Marijuana: Caught In A Pot Crossfire

The Grace Hill training tip of the week focuses on the issue of marijuana and multifamily property managers and owners. Editor’s Note: “Grace Hill worked with our attorneys at Haynsworth Sinkler Boyd on this piece. We are grateful for their insights and expertise in navigating this tricky topic!”

By Ellen Clark

Multifamily property managers are often caught in a pot crossfire between state and federal laws when it comes to marijuana use in apartments, especially in states where marijuana use is legal.

Tue
06
Feb
John Triplett's picture

A Passion For Helping Tenants With Poor Credit Get Apartments And Homes

Bubba Grimsley with Liberty Rent Guarantee has a passion for helping tenants with bad credit get into apartments and homes

Bubba Grimsley founded his rent guarantee company because he had a passion to help people with bad credit get into apartments and homes, while guaranteeing the landlords and property managers get a good tenant.

 In a recent interview with Rental Housing Journal, Bubba Grimsley who has been a trial lawyer for 20 years, talked about how and why he got started in the business with Liberty Rent Guarantee and how it continues to expand to help both tenants and property managers.

Bubba Grimsley founder of Liberty Rent Guarantee

By John Triplett

Rental Housing Journal

Tue
06
Feb
The Editors's picture

Company Buys Two Multifamily Properties In Salt Lake City

Kennedy Wilson  buys two multifamily properties  for $93 million in Salt Lake City as the city emerges as a compelling market for real estate investment

Kennedy Wilson has purchased two wholly owned multifamily properties off market in Salt Lake City, Utah for $93 million, according to a release.

"With its dynamic economic climate, well-run state government and highly educated workforce, Salt Lake City consistently emerges as a compelling market for real estate investment,"  Shem Streeter, Managing Director at Kennedy Wilson (KW), said in the release.

 

Creekview Apartments in Midvale, Utah (Photo: Business Wire)

 "We continue to see strong interest from millennials and many other groups of renters in easily accessible suburban locations based on relative affordability and proximity to both high paying employers and outdoor recreation," he said.

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