Apartment Living News 02/2012
Parish Accused Of Limiting Housing For African-Americans
NEW ORLEANS -- The US Department of Justice has sued St. Bernard Parish, accusing it of a multi-year campaign to limit rental housing for African-Americans after Hurricane Katrina. Parish President David Peralta was not immediately available for ...
(Feb 1, 2012, WDSU New Orleans)
Tories urged to lend a hand to rental housing
Municipalities across Canada are calling on the federal government to support the construction and renovation of rental housing. The Federation of Canadian Municipalities said Tuesday that such action would help provide more affordable housing options, ...
(Feb 1, 2012, Vancouver Sun)
Commercial Mortgage Bankers Are Doing Deals As the Real Estate Market Breathes ...
Commercial Mortgage Bankers Are Doing Deals As the Real Estate Market Breathes ...
(Feb 1, 2012, Huffington Post (blog))
Apartments Market Reaching New Highs and Lows
(Jan Jekielek/The Epoch Times) The top two rental markets in the US are cities in Northern California: San Jose and San Francisco. On the east coast, New York comes in at third and DC is ninth, on Marcus & Millichap's index of 44major apartment markets ...
(Feb 1, 2012, The Epoch Times)
Apartment Industry Response to President Obama's Real-Estate Owned Initiative
"We are pleased to see the Administration explicitly recognizing the importance of rental housing in meeting our nation's housing needs through the Real-Estate Owned (REO) Initiative announced today. "We will be analyzing the President's proposal to ...
(Feb 1, 2012, MarketWatch (press release))
Tenant Troubles: Is My Rent Being Raised In Retaliation For My Repair ...
Tenant Troubles: Is My Rent Being Raised In Retaliation For My Repair ...
(Feb 1, 2012, The San Francisco Appeal)
Are student-only rentals on their way out in Evanston?
By KAREN BERKOWITZ January 31, 2012 8:38PM A firm that owns and manages an apartment building near Northwestern University in Evanston must drop its “students-only” requirement and open up rentals to families under a settlement reached in federal court ...
(Feb 1, 2012, Winnetka Talk)
Ivanhoé Cambridge buys rental buildings in London
Ivanhoe Cambridge, a real estate subsidiary of the Caisse de dépôt et placement du Québec, said Wednesday it is spending more than $150-million to buy four multi-residential rental buildings housing 207 units in some of central London's most ...
(Feb 1, 2012, National Post)
Essex Property 4Q Net Soars; Funds From Operations Rise
Essex Property Trust Inc.'s (ESS) fourth-quarter profit nearly tripled, while a key profitability metric for the West Coast apartment owner grew more quickly than expected on higher rental rates. Multifamily-housing operators have reported broadly ...
(Feb 1, 2012, Wall Street Journal)
Apartment Industry Response to President Obama's Real-Estate Owned Initiative
"We are pleased to see the Administration explicitly recognizing the importance of rental housing in meeting our nation's housing needs through the Real-Estate Owned (REO) Initiative announced today. "We will be analyzing the President's proposal to ...
(Feb 1, 2012, Sacramento Bee)
Occupancy standards tightened for housing aid
Changes to the Spokane Housing Authority's housing voucher program could make for some tight living arrangements. Because of budget cuts, the agency is implementing new occupancy standards and will pay rent based on one bedroom for every two people in ...
(Feb 2, 2012, The Spokesman Review)
Apartments Market Reaching New Highs and Lows
The top two rental markets in the US are cities in Northern California: San Jose and San Francisco. On the east coast, New York comes in at third and DC is ninth, on Marcus & Millichap's index of 44major apartment markets. San Jose climbed three spots ...
(Feb 2, 2012, NTDTV)
Olympic housing crunch: London landlords evict tenants to gouge tourists
Rent controls are almost non-existent in Britain and some Londoners told msnbc.com that the looming increase in housing costs will leave them with no choice but to leave the city for the summer. While the Olympic Village will house some 22000 athletes ...
(Feb 2, 2012, msnbc.com)
Lenders pay dirt in Brooklyn apartment market
In Greenpoint, just north of Williamsburg, rental prices (studio, one-bedroom, two-bedroom) shot up 11.51 percent; in Boerum Hill, separated from the waterfront by Cobble Hill, rents increased by more than 15 percent. Manhattan apartment rental rates ...
(Feb 2, 2012, Real Estate Weekly)
Equity Residential's FFO rises 48 pct. in 4Q
Apartment real estate investment trust Equity Residential said Wednesday that its results improved in the fourth quarter as rental income increased and its one-time charges declined. Management struck an optimistic tone about the apartment market, ...
(Feb 2, 2012, BusinessWeek)
Apartment rents hit all-time high
By Michael Davidson DENVER - Landlords in Boulder and the Denver area continue to cash in as demand for apartments remains tight. The average rental rate for an apartment in Boulder and Broomfield counties hit an all-time high in the fourth quarter of ...
(Feb 2, 2012, Boulder County Business Report)
MAA Reports Fourth Quarter Results
Net income results for the quarter ended December 31, 2011 included $7.9 million, or $0.21 per diluted common share, related to a gain on the sale of an apartment community. For the year ended December 31, 2011, net income available for common ...
(Feb 2, 2012, MarketWatch (press release))
European Vacation Rentals are Attracting More Travelers Overseas for Vacation
A Paris vacation rental apartment, for instance, that sleeps four people can be leased for $103 nightly, or $717 for the entire week. A Barcelona vacation rental apartment with a two bedrooms and one bath apartment that sleep six is available for $100 ...
(Feb 3, 2012, PR Web (press release))
Impostor landlords fake rental housing
The big-time grifters are cashing in on a rental market gone wild, thanks to the owner-occupied housing crisis that has cost many families their homes and prevents others from obtaining a mortgage, according to a consumer alert from the California ...
(Feb 3, 2012, The Salinas Californian)
New Assistant Vice President For For Rent Media Solutions(TM)
He has been actively involved in multiple New England apartment associations over the years including his current membership in the New Jersey Apartment Association as well as the Rental Housing Association, Apartment Association of New Hampshire and ...
(Feb 3, 2012, Daily Markets (press release))
Rent regulation ruling cannot be used to scuttle deal: court
NEW YORK, Feb 3 (Reuters) - A real-estate firm cannot back out of a $6.2 million deal for an Upper East Side apartment building after a court ruled that several of the building's rental units had been wrongly converted from stabilized rent to ...
(Feb 3, 2012, Thomson Reuters News & Insight)
City looking at rental inspections
By Ray Gronberg DURHAM – Neighborhood Improvement Services officials are ready to ask the City Council for permission to launch a “periodic rental inspection program” targeting areas with crime and housing problems. Council members are scheduled to ...
(Feb 3, 2012, Durham Herald Sun)
Meadows housing decision delayed again
GLENWOOD SPRINGS, Colorado — Developers of a 60-unit low-income rental housing project on Wulfsohn Road will have to wait a little longer to get their approvals and start construction on what would be the first residential units at the larger Glenwood ...
(Feb 4, 2012, Glenwood Springs Post Independent)
Government officials testing plan for foreclosed homes
With 3716 of these homes, Ohio ranks seventh on the list of states where the Federal Housing Administration or government-sponsored Fannie Mae and Freddie Mac own foreclosed properties. Converting the houses to rental units might raise the hackles of ...
(Feb 4, 2012, Lancaster Eagle Gazette)
Foreclosures converted to rentals
With 3716 of these homes, Ohio ranks seventh on the list of states where the Federal Housing Administration or government-sponsored Fannie Mae and Freddie Mac own foreclosed properties. Converting the houses to rental units may raise the hackles of ...
(Feb 4, 2012, Fremont News Messenger)
Foreclosures converted to rentals
With 3716 of these homes, Ohio ranks seventh on the list of states where the Federal Housing Administration or government-sponsored Fannie Mae and Freddie Mac own foreclosed properties. Converting the houses to rental units may raise the hackles of ...
(Feb 4, 2012, Fremont News Messenger)
Wanted: Rooms to rent (VIDEO)
“We would like to see all different types of housing developed in Thief River Falls, but that entry rental housing is our greatest need,” said Rick Trontvet, Digi-Key vice-president for human resources. “Entry apartment rentals are the greatest need ...
(Feb 4, 2012, Grand Forks Herald)
Rental demand exceeds supply
"We have been inundated with people wanting to rent it." Max Martin, franchise owner of Harcourts Advantage Realty, said demand for rental property had been high across the board but particularly in the upper price bracket. An apartment listed at $800 ...
(Feb 5, 2012, The Bay of Plenty Times)
For-profit daycare to partner with apartment landlord
Alyshah Hasham Staff Reporter A for-profit daycare provider based in Calgary is expanding into the GTA with plans for at least two new centres located in apartment buildings. Edleun Group Inc, is partnering with apartment rental giant, ...
(Feb 5, 2012, Toronto Star)
For-profit daycare to partner with apartment landlord
Alyshah Hasham Staff Reporter A for-profit daycare provider based in Calgary is expanding into the GTA with plans for at least two new centres located in apartment buildings. Edleun Group Inc, is partnering with apartment rental giant, ...
(Feb 5, 2012, Toronto Star)
Rental units need regulations
However, I wanted to make a comment on the housing in Fredonia and every other college town. My daughter has been in Fredonia for five years and has rented a few apartments. Please note that she loves that town, but there really need to be some sort of ...
(Feb 5, 2012, Evening Observer)
Why is Austin's Apartment Occupancy at 95 Percent?
You also need to have JavaScript enabled in your browser. Austin's rental housing market is getting tighter as people flock to the city. The apartment occupancy rate is now close to 95 percent and expected to get higher. “The Austin metropolitan area ...
(Feb 6, 2012, KUT News)
Foreclosed homes may be sold as rentals
With 3716 of these homes, Ohio ranks seventh on the list of states where the Federal Housing Administration or government-sponsored Fannie Mae and Freddie Mac own foreclosed properties. Converting the houses to rental units may raise the hackles of ...
(Feb 6, 2012, Marion Star)
Feds shed foreclosures as rentals
With 3716 of these homes, Ohio ranks seventh on the list of states where the Federal Housing Administration or government-sponsored Fannie Mae and Freddie Mac own foreclosed properties. Converting the houses to rental units may raise the hackles of ...
(Feb 6, 2012, Bucyrus Telegraph Forum)
YOUR MONEY: Office And Home Rent Will Keep Rising And Rising
It's also bad timing for people who have been spooked by, or pushed out of, the residential housing market and have decided to rent instead of buy. Home ownership in the United States is at historic lows, but at the same time rental prices are on the ...
(Feb 6, 2012, KHQ Right Now)
Portland apartment vacancy rates drop
"The improvements in the economy are really driving where the apartment market is going today," said Cassie. At The Gentry on 12th & Taylor in downtown Portland, the 60-unit building is a reflection of today's apartment market. "They rent quickly" ...
(Feb 6, 2012, kgw.com)
Why one-cheque rent payment bounces badly on Palm Shoreline
The 'good life' has turned into a nightmare for some tenants of the Shoreline Apartments on the Palm Jumeirah who paid their rent upfront in one cheque. If these tenants have landlords who have defaulted on service charges, then not only are they now ...
(Feb 6, 2012, Emirates 24/7)
New Rentals Under Stress
Many people have turned from buying to renting in an uncertain economy, which has helped drive rents and vacancies to 2007 levels. The vacancy rate now sits at 1.27% and rents have continued to rise to on average $3984 for a one-bedroom apartment in a ...
(Feb 6, 2012, Wall Street Journal)
Plan for more rental property inspections put on hold after landlords speak out
Of the 21099 housing units in Belleville, 8176 are rental, according to the US Census Bureau. The proposed change would apply only to those that are more than 5 years old, but information on how many of the city's rental units fit that criteria was ...
(Feb 6, 2012, Belleville News Democrat)
Renters on the rise as homeownership declines
Katherine Adderley, 11, works on a school project with her friends outside her apartment building at the River Walk complex in Shreveport on Friday afternoon. / Val Horvath Davidson/The Times Despite historically low home prices, Americans are renting ...
(Feb 7, 2012, Shreveport Times)
Saugus Police log Feb. 3
At 10:53 am a lieutenant investigated an Internet posting for an apartment rental on Craig's List. He reported the Beech Street listing was fraudulently posted and the residence wasn't for rent. At 10:56 am an officer reported issuing two citations to ...
(Feb 7, 2012, Wicked Local)
Sterling Heights, MI 48310 - The Ann Arbor News
Laurel Valley Apartments in Sterling Heights, Michigan offers spacious one and two bedrooms for rent. MANY HOMES NEWLY REMODELED! Each apartment rental home features private entry, gourmet kitchens and washer/dryer. Our apartment community features ...
(Feb 7, 2012, MLive.com)
Rental REITs Look Ready to Reverse Course
While the next several years look to be good for the apartment rental business, Anderson said rent looks to be "plateauing" and that the chance of something "[derailing] momentum" is a distinct possibility. "We are positive on the business of the ...
(Feb 7, 2012, TheStreet.com)
Jigsaw Holidays Announces New Luxury Cotswold Apartment for Holiday Rental
Witney-based Luxury Cotswold Cottage agent Jigsaw Holidays announced the new addition of "The High Room" to its portfolio of premium Cotswold Cottages, available for short and medium term rental. One bedroom contemporary apartment "The High Room" is ...
(Feb 7, 2012, DigitalJournal.com (press release))
Monthly Rents Rise 2.6% in 2011 from 2010: BOK
The cost of renting a house or apartment has become increasingly burdensome for many young people in Korea. The Bank of Korea says monthly rental fees, known as 'wolsae' in Korean, rose 2.6 percent in 2011 from the previous year the highest jump ...
(Feb 7, 2012, Arirang News)
The Apartment Hunt: An ironic ending
By Steven Overly This is the fourth and final installment in a multi-part series about one reporter's search for a rental in the District. After three long months of searching for an apartment, Steven Overly finally found a home. The hunt for a rental ...
(Feb 7, 2012, Washington Post (blog))
Fed's REO-to-Rental Experiment Begins
“Mismanaging these rentals would make an even bigger mess out of our already struggling housing sector,” said Cindy Chetti, president of Government Affairs for the Washington, DC-based National Multi Housing Council, in a joint statement with the ...
(Feb 7, 2012, Apartment Finance Today)
Crown Point seeks input on proposed rental ordinance
Currently the city has a moratorium on new apartment buildings. “I don't want people to think of this as a prelude to more apartments,” Clemmons said. Under the proposed ordinance, any new rental unit would have to be registered with the city before it ...
(Feb 7, 2012, Post-Tribune)
Rental prices climbing, experts say
Southwest Florida's rental market took a major hit when the economy tanked five years ago. "It's been excruciating - nothing like I've ever envisioned in my life before," said Realtor David malt. But, he says, home and apartment rental prices are ...
(Feb 7, 2012, WZVN-TV)
Augusta mixed-income development Legacy at Walton Oaks filled fast
By Meg Mirshak The Augusta Housing Authority's first mixed-income housing development reached its rental capacity three months after the first residents moved in – and about two months ahead of the target date. Construction continues at Legacy at ...
(Feb 7, 2012, The Augusta Chronicle)
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