Commercial & Residential Property Blog

As banks become accidental multifamily property landlords more than ever before through foreclosure and other unfortunate economic events, third-party property management is stepping in to be of service. Even in a recession, someone’s going to make money, and multifamily property managers want it to be them.

Bill Gray is an independent consultant who has been assisting landlords and property management companies nationwide in addressing the issue of tenant debt since 1997.

Rentals are rising in Greenwich, Conn., a town synonymous with luxury housing.

The housing market in this pricey community is in trouble. Single-family sales in Greenwich declined 48 percent to 167 this year through July, according to Shore & Country, based in Greenwich.

I just updated my Squidoo page: Commercial Real Estate Market Phases / http://tinyurl.com/lvz65q #

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The employment base in and around Providence, R.I. could be both a bright spot and potential problem for the apartment market in the city, asserts Richard Robinson, partner in ARA’s (Apartment Realty Advisors) Burlington, Mass. office.

On the one hand, Providence has a number of universities and health care companies that could prove positive for the market. Furthermore, “I think Providence still has pretty good proximity to Massachusetts’ employment base from the south, with all the companies around 495,” Robinson notes. “We found we sold a property recently in southern Massachusetts where some tenants worked in Rhode Island and some worked north, so I think Providence is always positively impacted by its proximity to Boston.”

With housing prices still in the dumps, many Americans are finding themselves in the uncomfortable position of landlord.

Some have been forced to relocate for a job and can’t sell their houses. Others have moved, but are holding on to their previous homes, hoping for prices to rebound before selling. Many are finding that rent checks don’t come close to covering their mortgage payments.

Reading the Market – Part 1 http://bit.ly/npEPd via @AddToAny #

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With demand for apartments falling and vacancies rising in the past 12 months, multifamily owners and managers have had to come up with innovative ways to attract renters. While rents have fallen across the country, concessions have also become increasingly popular. Most renters walk into leasing offices with information on what is being offered by competitors, and owners and managers have to respond with equal if not better deals to retain the existing tenants and attract the new prospects.

Purchase Agreement delivered for mixed use / retail building…waiting on signatures before we get into the due diligence! #

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researching 3 new properties and preparing an LOI on one! #

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