Property Management News

New York landlords, angered by new restrictions that would end short-term rentals, have ‘lawyered-up’ and are seeking to overturn the measure which goes into effect in May. The ban is aimed at short-term tourist rentals, as well as transient hotels in permanent residential buildings. According to a report by Courthouse News Service, landlords are challenging whether this new ban on short-term rentals in multi-family buildings violates their ownership rights under the Constitution. The new law prohibits rentals of less than 30 days. Property owners are objecting because it has been a long-standing practice to offer apartments for short-term or vacation rentals. In fact, many of... Read more

The American Dream Redefined by Drew DeMasters A recent survey found that more than a quarter of Americans currently renting houses and apartments have no intention to ever buy a home. The survey, by real estate search site Trulia.com, found 27 percent of renters do not plan to ever buy a home. Although 72 percent still expect to buy eventually, that proportion is down from 77 percent just six months ago. So, is the American Dream of owning a home fading away? No. But it is being redefined. People are taking an extra hard look at the pros and cons of home ownership. And for many, renting a place that really fits their needs is the dream. This is an opportunity for landlords! It means three... Read more