Property Management News
In 2019, the New York Legislature enacted a so-called reform of rent regulation. Owners of 1 million rent-regulated apartment units found themselves almost out of business. Now the coronavirus pandemic — including New York’s responses to it — threatens to finish the job. Last year’s “rent reforms” started by almost entirely preventing owners from raising rents, even if tenants moved out or an owner invested in a new boiler, a new roof, new bathrooms and kitchens, renovations, or other improvements. The legislature removed a “loophole” that enabled property owners to liberate some apartments occupied by high earning tenants. In 40,000-plus words, the legislature rewrote the... Read more
Property management is a long-standing industry that historically has a reputation for being slower to adopt modern, cutting-edge solutions for their businesses....
Rent is due for most California apartment dwellers today, and their landlords are expecting to see even fewer payments than they saw in April as the economy remains...
Multifamily housing performed exceptionally well over the course of this cycle, driven by the affordability of renting an apartment relative to owning a single-family...
Now is the time to prepare for when non-essential businesses will be allowed to re-open after the various state and local COVID-19 shutdown orders are lifted. We do not...
Dan Michaels, of the Los Angeles-based real estate investment firm Stockdale Capital Partners, had a gut feeling late last year that it was time to launch a commingled distressed debt fund. Prior to January, few knew anything of the novel coronavirus from Wuhan, China. But more than 10 years after weathering the 2008 downturn, the moment seemed right, said Michaels, a managing director at Stockdale. The new fund went on to close $550 million in commitments from investors, including sovereign wealth funds and public pension plans, in the second week of February. It’s now targeting an 18 percent to 20 percent return on investments in troubled assets, including multifamily properties in... Read more
Apartment owners were happy with April’s rent payment results—which found that 89 percent of renters made rent payments through the 19th of the month, down only 5...
The coronavirus outbreak has impacted renters and homeowners alike from all corners of the U.S. But for those living in affordable housing and low-income rental...
Financial relief and other emergency measures will bolster the U.S. apartment sector as local governments and federal agencies adapt to the economic turbulence unleashed...
It’s never easy to buy or sell a home—even in the best market conditions. During the Covid-19 pandemic, it’s become nearly impossible. I know this firsthand. My...
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