Property Management News

Leasing agent faced criminal prosecution A property management company based in Meriden, CT has agreed to pay a $276,000 penalty for violating federal lead-based paint disclosure requirements. EPA alleged that the property management company violated the federal Lead Disclosure Rule when it failed to disclose information about lead paint to at least twenty tenants who rented their multi-unit residential properties between 2001 and 2003. Specifically, the company failed to provide records or reports regarding lead hazards, failed to make sure that the lease included a Lead Warning Statement and a statement disclosing the known or unknown presence of lead-based paint, and failed to provide a... Read more

A look at fees, bids and financing options by Tom Kelly, Inman News Not all real estate auctions are sad and anxious moments synonymous with desperation and bankruptcy. For years, auctions have been a convenient, private and efficient method of moving inventory in a hurry — especially for companies that need to clear properties from their books by a specific date. For them, it’s simply a matter of sound business economics. Corporations, public agencies and institutions routinely liquidate “real estate-owned” portfolios to free up cash for other projects. These sellers are not usually affected by interest rates or economic environments, but the past few years have... Read more