Even with reports of the apartment industry faring better than the rest of the economy, the said sector is not exempt from having its own horror stories. Some apartment managers and owners, in fund shortage, leave their complexes neglected and the bills unpaid – in the end, the residents are the ones who suffer. One apartment complex in northeast Houston is a shining example.
The Angel Ridge Apartments in Sterlingshire had been unable to bills leading to water shut off. And with no working water supply in the complex, residents are …

The housing market sure needs a lot of work before it can fully recover and pick up from the effects of the recession. This is why most developers and real estate firms are looking at bringing in more business. Surprisingly, the current trends are very different from what they used to be.
The growing trend in today’s housing market is the rise of apartment complexes that are geared towards the older adults. Bennett & Co. demonstrates that trend very well: it currently has ongoing constructions in three locations – Prattville, Opelika, …

Looking after our health is very important nowadays, not just because the economy makes it hard to be sick but also because a lot of chemicals are in the air and the food we eat that the risks of contacting sickness is higher. This is the reason some apartment complexes and condos are now banning tenants from smoking – not just in the common areas but in their own units as well. Tenants in some apartment complexes and condos where smoking are permitted are now also asking for the same …

If you’ve been closely following the real estate business in the last few months, you would know that the money nowadays is with the apartment rental side. In the Dallas-Fort Worth area, this has never been more apparent than in the third quarter. Renters in the Dallas-Fort Worth have taken twice as many apartments in the area for the said quarter.
There was a 1% increase in rental demands in the just concluded quarter. This is the first gain in more than one year, says Carrollton-based MPF Research Inc. Even the …

With the economy still in its recovery state, companies are doing all they can to attract more business. And BRE Properties, Inc. is not exempted.
Owner and manager of 75 apartment units, BRE Properties, Inc. announced its activities for this week. September 13th and 14th are reserved dates for one-on-one meetings with various investors by President and CEO Constance B. Moore and Chief Financial Officer John A. Schissel. This series of meetings will be held in Boston and New York.
With the BMO Capital Markets Annual North American Real Estate Conference in …

Rent-control has a long history, especially in New York. These days, though, rent-controlled apartment units are slowly becoming history. And, increasingly, the elderly is left clinging to these rent-controlled apartments that are cramped and rotting.
Though supposedly cheap, rent-controlled apartments in New York City have turned out to be more expensive. Complains some of tenants in rent-controlled units, landlords may have been keeping rents low but landlords are also leaving the units in decrepit conditions.
Let us take the case of 97-year old Magnus Saethre and his live-in caregiver Devron King. They …

Manhattan’s largest privately-owned apartment complex has attracted numerous investors and buyers. Now, a building developer and boutique investment bank is planning to buy the property and offer the tenants to become owner of their units.
Condo Recovery LLC, specifically created to purchase distressed properties and included investment bank Westwood Capital, plan to purchase the 80 acre-spread of 56 buildings with 11,227 units on Manhattan’s East Side. They also intend to offer the tenants to buy their units.
Condo Recovery partner Gerald Guterman said, “We believe 8,500 to 9,500 of units will buy …

The ongoing housing crisis proves that another man’s loss may be another one’s gain. While the housing sector continues to lose sales, the apartment trade is continually getting renters. The growth, though, may not be sustainable given the current economic state.
In Orlando, the apartment sector fared well during the first half of the year. The number of vacant apartments went down in January to June of 2010 as those who lost their homes via foreclosure went to seek refuge in renting houses. Real estate investment services firm Marcus & Millichap, …

There’s nothing more frustrating than being on vacation mode only to find out that the apartment you rented out over the Internet and paid for in advanced was not reserved to your name because it was part of a scam to milk you of your money. And there are a lot of these scams out there on the Internet nowadays.
A French tourist and her Swiss friend were victimized by such a scam. After reserving a spot in Manhattan’s Camelot apartments and paying in advanced through wire transfer, they were told …

When you have experienced numerous incidents of bad treatment, it is but normal to walk away from another potential case of bad treatment. This is why it’s understandable how some tenants of several foreclosed East Harlem apartment buildings are staging a sort of protest against the new potential buyer of their apartment units. Having had to go through two landlords who neglected their properties, the tenants are now planning to thwart a non-profit organization’s plans of taking over.
Harlem-based affordable housing group Now Hope Community Inc. made known its intent of …