Real Estate | PropertyManager.com

Sky Scraper To Rival Empire State Building

Posted on 02. Sep, 2010 by Nora Betz.

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This Wednesday, the City Council approves the construction project to build a tower 1,200 feet high in New York City. With the support of Mayor Michael Bloomberg, development company Vornado Realty Trust is moving forward with the plans to construct a high-rise building at 15 Penn Plaza.

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Are Foreclosures a Great Property Management Opportunity?

Posted on 27. Aug, 2010 by Marc Courtenay.

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On top of recent news that housing activity is at it’s lowest since WWII comes the latest news about foreclosures all around the USA. This is what those of us watching the mortgage reset schedule have been anticipating, and it could spell unequaled opportunity for the property management business.
The number of U.S. homes lost to [...]

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The Downturn’s Upside: Low Income Housing

Posted on 06. Aug, 2010 by Nora Betz.

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In Seattle’s U District, there were plans to build a boutique hotel but with the economic downturn those plans were scrapped. Instead, the Low Income Housing Institute swooped in to purchase the project and create affordable housing.

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Bedbugs, Coming To A City Near You

Posted on 05. Aug, 2010 by Jonathan Brownfield.

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The largest bedbug survey ever conducted suggests that bedbugs have become more prevalent throughout the country, not just New York City.

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Indoor Garage in SoHo Turned Into Luxury Apartments

Posted on 29. Jul, 2010 by Aimee Miller.

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$6500 for a 1-bedroom apartment in what used to be an indoor parking garage! The apartments do sound amazing – much larger than the traditional NYC apartment and many have terraces, large glass windows and 10-foot ceilings.

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Real Estate Brokers Turn to Managing Properties

Posted on 27. Jul, 2010 by Jonathan Brownfield.

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The real estate market, as everyone knows, has been on the decline for years. The real estate industry is looking into other niches to make up for lost revenue; one of these niches is residential property management.

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Housing Activity Lowest Since World War II

Posted on 21. Jul, 2010 by Aimee Miller.

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Today we read some depressing news about housing activity on the WSJ.com blog – the “lowest level of housing activity since World War II.”

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Good News for Property Managers…Carpe Diem!

Posted on 13. Apr, 2010 by Marc Courtenay.

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These challenging times present many bargains, discounts and some exceptional opportunities for property managers. Although rental rates have dropped and vacancies soared in many areas of the country, there are many reasons to believe we are at or near the bottom.

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Apartment Vacancies Hit 30-Year High and That Can Be Good News

Posted on 16. Feb, 2010 by Marc Courtenay.

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Just as the number of apartment vacancies reached multi-decade highs, the number of homebuyers who are about to need apartments to rent will skyrocket. Reis, a New York real estate research firm, says apartment vacancies hit a 30-year high in the fourth quarter of 2009. Vacancy rates hit 8%, the highest level since Reis started tracking 79 U.S. real estate markets in 1980.

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The Bottom Line: Rents Now Cover Mortgage Costs!

Posted on 02. Feb, 2010 by Marc Courtenay.

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Few investors have noticed that rents are finally covering mortgage payments again in residential real estate. In many regions for the first time in years, rental income can pay the mortgage on smaller residential properties. We’ve waited a long time for this opportunity.

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Bigger Isn’t Always Better: The Trend Towards Renting Smaller Apartments

Posted on 08. Jan, 2010 by Heather Blume.

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When she was in 8th grade, as is tradition in my family, my sister got her first set of matched luggage. It was dark blue with tan piping and I remember it was from JC Penny’s. For 8th grade promotion, I think she received all the pieces to that luggage set that she hadn’t gotten [...]

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Rental Housing and Real Estate Market Trends for 2010

Posted on 06. Jan, 2010 by Marc Courtenay.

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If you thought 2009 was an unforgettable year for real estate, property managers and residents, wait till you see what unfolds in the year ahead. Here are two of the trends.

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What Current Home Prices and Foreclosures Mean for Property Managers

Posted on 23. Nov, 2009 by Marc Courtenay.

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The median home in San Francisco sold for around $800,000 at the market top three years ago. Then prices collapsed, falling 45% according to the Case-Shiller home price index.
But an interesting thing has been happening lately. Home prices in San Francisco appeared to have bottomed in March. According to the same Index, they’ve been up [...]

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Renting vs. Home Ownership in the Current Market

Posted on 27. Oct, 2009 by Marc Courtenay.

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Allow me to cut to the chase. Two million people have lost jobs since January 2008; and many economists say that only two-thirds will return to work by 2013. This year’s shocking 12% decline in manufacturing production underscores this reality.
For many workers whose jobs were tied to housing, autos, textiles, plastics, fabricated metals, furniture, appliances, [...]

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Green Incentives For Residential Property Managers – Part 1

Posted on 31. Aug, 2009 by Marc Courtenay.

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There has never been a better time for creative ways to attract and retain the kind of residents you want to rent or lease your properties. Appealing to thoughtful, conscientious and responsible people is actually easier than you think.
When I was a practicing counselor (I have an M.S. in Psychology with an emphasis in Marriage, [...]

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Property Management Best Practices to Protect Property Values

Posted on 23. Jul, 2009 by Agi Anderson.

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Property Documentation with Photographs
“A picture is worth a 1000 words,” holds true with protecting investments for your owners. Make certain you take first-rate photos prior to move-in, digital photography makes this a simple, effective task. Show the condition of the entire property inside and out. Include; appliances, fixtures, walls, flooring and every room of the [...]

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Challenges and Solutions for Residential Property Managers – Part 2

Posted on 14. Jul, 2009 by Marc Courtenay.

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What an exciting time for residential property managers! As successful people well know, a crisis can equal an opportunity.
In Part 1 of Challenges and Solutions for Residential Property Managers, I discussed how property managers can attract and retain residents, even in today’s economic climate. For this article I’ll turn my attention to owners.
One of the [...]

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The Credit Crisis and Its Impact on Rental Housing

Posted on 02. Jul, 2009 by Marc Courtenay.

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“When it comes to property management and the credit crisis, things are changing all the time…this is unprecedented in our 40 years of experience.”
This is a quote from an interview I conducted with a partner of a prominent Southern California residential property management company. She is also an owner of both single family and multi-family [...]