Property Management News

Warning: Application Fraud Is on the Rise

The National Multifamily Housing Council (NMHC) has released their Pulse Survey on Operational Impact of Rental Application Fraud and Bad Debt, which was conducted from November 15, 2023, to January 9, 2024, with some unsettling results. For instance, 93.3% of the apartment owners, developers and managers who responded to the survey stated that they had been subjected to some form of fraud in the past 12 months. Over 80% of respondents stated they had experienced applicants misrepresenting information on applications that included falsifying or fabricating pay stubs and doctoring employment references and income. 70% reported an increase in fraudulent activity over the past 12 months that... Read more

High mortgage rates and changing attitudes on ownership push people toward rentals. The American Dream has always included homeownership, but, in the face of an...

Taxes are perhaps one of the most boring and painful of all topics that one can choose to discuss. That is unless you are a real estate investor! The ability of...

Not only are more people renting today, more are doing this by choice. The reason? Housing prices and interest rates are making owning a single-family home more...

The multifamily sector could face a significant shock in the coming months. Despite the persistence of high rental prices, numerous renters are foregoing home ownership...

NY Credit Scores and Income Requirements

The source of income law is in limbo now because on June 27, 2023, a Cortland County Supreme Court judge ruled that the law is unconstitutional to the extent that it makes it an unlawful discriminatory practice to refuse to rent to any person because their source of income includes Section 8 vouchers. In other words, landlords are not required to accept Section 8. However, the NYS Attorney General has filed an appeal. A higher New York court could overrule the Supreme Court decision. There are prohibitions against: Income requirements for recipients of publicly funded rental assistance, other than those income requirements set by the housing voucher programs; Requiring that a... Read more

The past few years have been a rollercoaster for the IRS and taxpayers alike. In 2020, Congress passed two rounds of stimulus checks, and Tax Day was postponed until...

The California Apartment Association urged the court to hear a major property-rights challenge to tenant protections in NYC The Supreme Court on Tuesday declined to...

The benefits of having pets on property are extensive, from happier residents and increased social opportunities to providing a generally more attractive place to live....

Third, fourth, fifth bedrooms would be exempt from floor-area calculations. Los Angeles has introduced a bonus incentive to spur developers to build larger apartments...