Rental Real Estate Industry News – January 24, 2013
In this week’s rental industry headlines, find out why rents are predicted to rise even more, and why some think big-city micro-apartments aren’t the solution. Be aware of the latest real estate scams, and know the problems you can’t afford not to fix on your rental property.
Tenants pinched by rising rents shouldn’t expect relief soon from the new apartments for a simple reason: Demand is likely to outpace supply for some time.
City officials said the micro-units will help to meet the changing needs of New Yorkers and are “critical to the city’s future economic success.” But some have called the micro-units tenements for the 21st century, though at the price, they would certainly not be housing large, low-income families.
Toll Brothers, the nation’s largest builder of luxury single-family homes, making a bigger push into the condo market with the purchase of land near Washington, D.C. The company is also expanding its rental operations.
The Better Business Bureau says St. Louis real estate agents are being victimized in a “shakedown” run by operators of a “phony” complaint website.
There are lots of crappy situations you can run into when you’re living in multi-unit housing. But we can’t think of anything crappier — literally — than your apartment filling up with raw sewage. This raises the question: Doesn’t the landlord have to fix this problem?
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