Apr 09

Tenant ordered to pay $42,500 in Triple Damages

Collections, Crime, Filling Vacancies, Landlording No Comments »

“In this case, Gwen Smith runs a scam pattern,” attorney Lisa Gygax said in a trial brief filed in Sonoma County Superior Court. “She seeks a kind landlord, moves in and never intends to pay anything but the first month's rent,” the attorney said in her filing.

After a months-long legal battle to recoup unpaid rent and utilities, Sonoma County Superior Court Judge Elliot Daum on Thursday ordered Smith to pay Wilt $42,500 in damages — agreeing to a requested tripling of actual damages on grounds Smith acted with “malicious and manipulative” intent, according to court documents.

via PressDemocrat.com.

Apr 07

Rents Rise Vacancies Remain High

Filling Vacancies, Housing Stats, Landlording No Comments »

Apartment rents rose during the first quarter, ending five straight quarters of declines and signaling the worst may be over for the hard-hit sector.Nationally, the apartment vacancy rate stayed flat at 8%, the highest level since Reis Inc., a New York research firm, began its tally in 1980.

via WSJ.com.

Mar 25

Stacking: Would-be renters move in with friends

Collections, Filling Vacancies, Housing Stats No Comments »

One in five renters was behind on rent in the fourth quarter, down from 23 percent of people in the third quarter. The report concluded that decline, in the “non-luxury” segment, was “probably due to more vigorous collections efforts.”

via | StarTribune.com.

Mar 04

Landlords not so quick to evict in slow economy

Evictions, Filling Vacancies, Strategic Planning No Comments »

Landlords know they’ll have trouble finding new tenants if they lose the ones they have, industry observers say, so some of them are more willing to give struggling tenants a break.

“The economy has hit the apartment industry in a lot of different ways,” said Brad Cathers, past president of the Tennessee Apartment Association

via The Tennessean.

Feb 28

Discusses Revenue Management

Filling Vacancies, Strategic Planning No Comments »

“For those unfamiliar with RM systems, they price apartments kind of like hotels price their rooms. Prices can change daily.”

via Multifamily Technology 360°

Feb 26

Multiple Generations Sharing Homes = High Vacancies

Filling Vacancies, Housing Stats No Comments »

Over the last 12 months, 37% of Coldwell Banker Real Estate real estate sales professionals noted an increase in buyers looking to purchase homes to suite more than one generation of their family, according to a recent Coldwell Banker survey of its network of professionals.

via Read More.

Feb 25

Rental nightmare: Tenants face trespassing, bad check charges

Filling Vacancies, Landlording, Screening, Tenant Responsibility No Comments »

Bakersfield landlord said people moved into his rental home without his permission after paying the deposit with a bad check. That started a much bigger case that ended with the arrests.

via Bakersfield Now

Feb 21

Finding Rent-to-Own Tenants in Today’s Market

Evictions, Filling Vacancies No Comments »

So how can you make sure that you don’t get stuck with a tenant you’re eventually going to have to evict? How can you find the perfect tenant? Well, here’s how I do it. Recently, I had a tenant move out of one of my properties. And while most people freak out and quickly call the newspaper to begin running classified ads, I do something else.

Read More.

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