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Tue
18
Jul
The Editors's picture

Majority Of Rental Property Investors Are Small Entrepreneurs

most rental property investors and owners are small entrepreneurs

Most rental property investors and owners are small landlords who own five or fewer single-family rental housing units, according to a new study.

The study showed that landlords and real estate investors lease 44 million rental households that house about 60 million people across the U.S., according to a release from Real Property Management. The study found this means there are about 10 million real estate investors representing 98 percent of all rental property owners and about 80 percent of all rental properties.

“The single-family residential investment market has long been misunderstood and dismissed as only an option for those wealthy enough to use real estate investing as a business,” Bob Pifke, CMO of Property Management Business Solutions, LLC, the franchisor of Real Property Management, said in the release.

Tue
18
Jul
John Triplett's picture

7 Questions And Answers On Canine Liability Insurance

7 questions and answers about canine liability insurance

Debbie Turner got into the canine liability insurance issue after she adopted a schnauzer, named Jazz,  who had personality issues.

She began to learn the different aspects of canine behavior so she could try and figure out why Jazz was so broken.  Jazz led a long and healthy life and ultimately died of old age.

“But somewhere it just hit me that the insurance industry is not underwriting the canine exposure," she said. She became interested in canine behavior and "found insurance companies just do not know how to underwrite this risk,” she said in an interview about what led her to start Dean Insurance Agency and the website dogbitequote.com.

Jazz the Schnauzer

Fri
14
Jul
The Editors's picture

Why Is The Internet In Apartment Complexes So Bad?

Why is the internet in apartment complexes so bad? Can a multifamily internet system with wifi installation be the ticket?

Sponsored Blog

Can A Multifamily Internet System With WiFi Installation Be The Ticket?

By Hart Steen

 

Tue
11
Jul
John Triplett's picture

Portland Landlords Lose First Round In Suit Against Relocation Ordinance

Portland landlords lose first round in suit against city relocation ordinance

A judge has ruled in Circuit Court in Portland against landlords who had challenged the city’s relocation ordinance passed earlier this year.

Judge Henry Breithaupt, a tax court judge sitting in Circuit Court, upheld the relocation assistance ordinance and ruled against the landlords’ argument that the relocation ordinance amounted to rent control and illegally sought to stop no cause evictions.

The city’s law allows tenants to collect between $2,900 and $4,500 when landlords use no-cause evictions or raise rents more than 10 percent in a year. Portland’s ordinance is set to expire in October along with the City Council’s housing emergency declaration.

“There were three things happening at the same time to put it in perspective,” John DiLorenzo Jr, the attorney representing landlords, told Rental Housing Journal.

Tue
11
Jul
The Editors's picture

Colorado Developer To Build Luxury Apartments Atop Arizona Whole Foods Market

Colorado developer to build luxury apartments atop whole foods in Arizona

A new mixed-use project in Arizona will feature 286 luxury apartments on top of a Whole Foods Market 365 store near Arizona State University, according to a release.

The Forum Real Estate Group, based in Glendale, Colorado, is the developer of The Local  a luxury, multifamily development in the heart of downtown Tempe.

“Situated at the marquee intersection of University and Ash, adjacent to the Mill Shopping District, The Local is a celebration of authentic Tempe – the history, the culture, the music, the people,” according to a release.

Tue
11
Jul
The Editors's picture

Rents Stable At Mid-Year New Report Says

Cities where rents rose the most in the first half of 2017 according to Abodo.com

Rents were relatively stable through the first six months of 2017, according to a new report.

While the national median rent fluctuated, but it ended up exactly where it began at $1,016 for a one-bedroom, according to Abodo.com.

Prices fell from January to March, bottoming out at $1,003 before creeping back up in the spring. In all, the national median rent always stayed within 1.3% of its starting value.

"Mid-year rent trends are an important metric to follow when analyzing the rental market across the U.S. And while San Francisco and New York City stand at the top of the most expensive rental market rankings, as usual, it's important to analyze the average monthly change on the coasts and in the Midwest," said Sam Radbil, senior communications manager for Abodo.com

Mon
10
Jul
The Editors's picture

Seattle Property Management Firm Integrated Into Security Properties

Seattle property management firm integrated into Security Properties

 Madrona Ridge Residential, a property management firm and affiliate of Seattle-based Security Properties, is being fully integrated into Security Properties and rebranded as Security Properties Residential, according to a release.

 As part of this integration, Security Properties is also announcing that Mike Voorhees, formerly of Holland Residential and Holland Partner Group, has recently joined Security Properties Residential as President.

Fri
07
Jul
The Editors's picture

House Speaker Promises To Finish Housing Issues In 2018

Housing issues will be back in 2018 Oregon House Speaker promises

Oregon House Speaker Tina Kotek (D-Portland) says the failure of a bill in the legislature to regulate no cause evictions and allow local rent control means trying again in 2018 “to finish unfinished business,” in housing issues,  according to a release.

“We made good progress, but we need to do more to protect renters from staggering rent spikes and no-cause evictions. In 2018, we will push to finish this session’s unfinished business on housing,” Kotek said in the release.

 “The depth and breadth of Oregon’s housing crisis has finally made this issue too big to ignore. We will keep fighting to ensure all Oregonians have a safe, decent, and affordable place  to call home.”

Fri
07
Jul
The Editors's picture

Rent Control And No Cause Evictions Bill Dies In Senate

Rent control and no cause evictions bill dies in Oregon Senate

Controversial legislation to remove the state-wide ban on rent control in Oregon and to set new rules for no-cause evictions has died in the Oregon Senate, according to reports.

The bill, HB 2004 , passed the Oregon House 31-27 in April, but lacked support in the more conservative Senate and failed after several attempts to amend it.

Thu
06
Jul
The Editors's picture

South Seattle Apartments Sell For $109 Million

South Seattle apartments sold for $109 Million

A south Seattle 576-unit multifamily property, apartments that were acquired for $58 million in 2014, has sold for $109 million, according to a release.

Rock Creek Landing, a wholly-owned 576-unit multifamily property in Kent, Washington, was sold by Kennedy Wilson, a global real estate investment company. The cash proceeds of $73 million from this transaction were used to fund the previously announced acquisition of 90 East, an office campus in greater Bellevue.

 “This sale demonstrates our ability to leverage our vertically integrated investment platform to identify undermanaged investments where we can create value through the execution of our asset management program,” Shem Streeter, Managing Director of Kennedy Wilson Multifamily Investments, said in the release.

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