Property Management News
Apartment rent fraud is rapidly emerging as a major concern for property owners and managers in the real estate industry. This deceitful practice involves applicants using fake documents to misrepresent their financial status, affecting all types of multifamily properties, from affordable units to luxury apartments. The financial repercussions are significant, with eviction costs averaging between $20,000 to $25,000 per apartment. Despite these high costs, only 17% of multifamily property owners have implemented comprehensive fraud prevention systems, underscoring a critical need for improved measures. The Evolution of Rental Fraud As Mendowa Martin, senior vice president at JLL, explains... Read more
The New York Good Cause Eviction law, enacted on April 20, 2024, significantly affects the rights and obligations of landlords and tenants by limiting evictions,...
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Evictions seem on the rebound after an extended period of moratoriums and pandemic economic aid to tenants. According to data across 34 cities in 10 states from the...
A landlord can sue for unpaid rent even without a lease in place. If a tenant fails to pay rent, a landlord has the right to take legal action to recover the unpaid rent...
According to Princeton University’s Eviction Lab, cities across the Sun Belt — a region where many flocked in 2020 and thereafter in search of fewer COVID restrictions and lower costs of living — are seeing a massive increase in evictions, with filings up 35% compared to pre-pandemic levels. Blame it on the pandemic-driven shifts in where Americans moved, lived and worked, which pushed rent prices through the roof — especially for area locals, whose salaries weren’t on par with the new arrivals. Nashville, a prime example, has seen evictions spike 31% since 2019. Fort Worth, Texas, and Jacksonville, Florida, aren’t far behind, with increases of 25% and 14%, respectively. The... Read more
When pandemic-era tenant protections expired, rents immediately soared, and eviction filings surged last year more than 50% over pre-pandemic levels in some U.S....
More and more owners are filing for evictions in some Sun Belt cities as tenants increasingly struggle to pay rent. Evictions are up by more than 35% compared to...
Tenant scams take advantage of unassuming landlords who fail to implement the right procedures for screening renters, writing contracts, and collecting payments....
Managing a multifamily property efficiently often involves optimizing how rent is collected. For property managers, automating resident payments means creating a system...