Monthly Archives: September 2013

Affordable Housing And Public School Choice

baltimore property management companies When it comes to neighborhood choice we realize that keeping people trapped into neighborhoods and schools they would rather leave is not going to improve things, and we should apply that same reasoning to schools. The empirical evidence backs this up too. Despite all the complaints you hear about choice hurting public schools the evidence really does not show that competition hurts them. There is in fact more evidence that it helps. Another argument against more public school choice is that it is costly to parents to have to transport their children to schools farther away and not all parents will be able to afford this. But we dont worry that with more neighborhood choice only some families will be able to afford to move.
For the original version including any supplementary images or video, visit http://www.forbes.com/sites/modeledbehavior/2013/09/26/affordable-housing-and-public-school-choice/

Housing discrimination alleged in Tucson foreclosures

Artistic Images Studio

The findings come as no surprise to Evelia Martinez, project manager of Dont Borrow Trouble Pima County, a program of the Southwest Fair Housing Council. None of it surprises me, and I would venture to say this is probably something that is the rule and not the exception, she said. Clearly there is a pattern, and it is systemic.
For the original version including any supplementary images or video, visit http://azstarnet.com/news/business/realestate/housing-discrimination-alleged-in-tucson-foreclosures/article_2653735b-d59b-5297-bacd-cf445d794a87.html

Car Rental Companies Cracking Down On Gas Refills

Hertz lowers earnings forecast

Both readings are printed on the customers rental receipt when the vehicle is returned. Through this method, customers can clearly see exactly how much fuel they are being charged for and the amount of such charge. Avis deleted the fuel charge when Freeman complained. According to the Washington Post, Avis isn’t the only car rental company that’s now measuring fuel down to a tenth of a gallon. Over the next few months, Hertz is also installing the technology, known as “electronic fuel metering.” Hertz’s chief executive, Mark Frissora, said Hertz loses $50 million per year in fuel.
For the original version including any supplementary images or free video, visit http://www.jsonline.com/blogs/news/224940902.html

Gas fill up

The U.S. car rental industry is tied inexorably to domestic travel, which has been hit this year by budget cuts that have also reined in travel spending in the defense industry and other key government suppliers. We are revising full-year 2013 guidance primarily because of weaker-than-anticipated volume in the U.S. airport car rental market, our largest business, Hertz Chief Executive Mark Frissora said in a statement.
For the original version including any supplementary images or video, visit http://nypost.com/2013/09/26/hertz-lowers-earnings-forecast/

MassPort unveils car rental center at Logan

Nine rental companies will operate out of the 120,000-square-foot customer service center and four-level garage. The new rental car center is being introduced with a new unified bus shuttle system at Logan. Starting Wednesday, diesel rental car buses will be eliminated from the airport’s roadway, Massport said. As a result, the airport’s bus traffic will drop from 100 diesel buses per hour to 28 hybrid buses per hour.
For the original version including any supplementary images or video, visit http://bostonherald.com/business/business_markets/2013/09/massport_unveils_car_rental_center_at_logan

Wheeler Real Estate Investment Trust Inc Acquires Free-standing Retail Property For $11.4 Million

The Company acquired the property through a sale-leaseback purchase contract with Reasor’s Foods. The property is secured by a 20-year, single-net lease expiring in 2033 with Reasor’s Foods, one of the grocers with 17 locations throughout Oklahoma. With this purchase, Wheeler will have fifteen properties in seven states across the Mid-Atlantic, Southeast and Midwest. Latest Developments for Wheeler Real Estate Investment Trust Inc
For the original version including any supplementary images or video, visit http://www.reuters.com/finance/stocks/WHLR.OQ/key-developments/article/2836423

Indian Real Estate Has Found New Sanctuaries of Growth

Integrated and cohesive condominiums being preferred in the metro cities 3. Green and smart building solutions on a significant rise in the commercial realty sector 4. Senior citizen housing segment is being explored by the developers 5. Aerotropolises- the airport cities like Bangalore more.. ranks high on the chart for FDI investments 6.
For the original version including any supplementary images or video, visit http://www.siliconindia.com/realestate/news/Indian-Real-Estate-Has-Found-New-Sanctuaries-of-Growth-nid-154761.html

Real Estate Investing Requires A New Way Of Thinking About Your Money

Be sure to ask for past performance. Most pros will happily submit to you a portfolio of their past projects, their personal and business balance sheets and even let you pull their credit. Dont be afraid to ask for it. Remember, there is no such thing as risk free investing or easy money.
For the original version including any supplementary images or video, visit http://www.washingtonpost.com/blogs/where-we-live/post/real-estate-investing-requires-a-new-way-of-thinking-about-your-money/2013/03/26/d0c6f0c0-956f-11e2-ae32-9ef60436f5c1_blog.html

What Is FIRPTA, and How Does It Affect My Commercial Real Estate Investment?

Although the seller owes the taxes, placing the onus on the buyer allows the IRS to collect its tax revenue when, after disposing of the U.S. real estate, the seller may have no connection to the US. The 10 percent withholding represents a significant cost to a potential foreign buyer of your property: upon subsequent sale of the foreigner’s investment, he or she will have to transfer 10 percent of the sale price to an escrow account. This regulation is particularly costly to a foreign seller if the sale will be at a loss or if the foreign seller’s tax liability will be less than the 10 percent withholding. The foreign seller can apply to the IRS property management jobs in maryland for a reduction of the withholding; however, the IRS review can take up to 90 days, during which time the seller will not have access to the funds that exceed the amount he or she will ultimately owe in taxes.
For the original version including any supplementary images or video, visit http://www.huffingtonpost.com/phil-jemmett/what-is-firpta_b_3982816.html

Rental Subsidies For Operators Opening Pre-schools In Heartlands

Rental subsidies for operators opening pre-schools in heartlands

Previously, only government-owned buildings were eligible for the development grant. A new Teaching & Learning Resources Grant will also be extended to support a childs holistic development, offering up to S$4,000 per year to purchase materials and equipment. All five pre-school operators contacted welcomed yesterdays announcements. Ms Lynn Ng, Marketing Director company website of Cambridge Child Development Centre, said the schemes could potentially help pre-schools with two issues they face when setting up a new centre high rentals and a shortage in teachers.
For the original version including any supplementary images or video, visit http://www.todayonline.com/singapore/rental-subsidies-operators-opening-pre-schools-heartlands

Are rental yields high compared to UK interest rates?

Are rental yields cheap compared to UK interest rates?

There are many different aspects to take into consideration which will now cover in order to give you a broad outline of the issue. Rental yields When you bear in mind that rental yields across the UK vary from under 3% in the luxury end of the London property market to in excess of 6% in many areas of the UK, these do not look overly attractive on the surface. When you also take into account the fact that inflation recently fell to 2.7% the situation is perhaps a little unsettling under traditional guidelines. However, the markets that we live in today are not traditional and valuations have been impacted accordingly. Quote from PropertyForum.com : The subject of a new high-speed rail link (HS2) between the North and South of England is something of a political hot potato at the moment with concerns that property prices are being impacted in some of the more affluent areas of the country. The key to this situation is the yield currently available on savings which is minimal to say the least with UK base rates steadfast at 0.5%. In effect, when you take into account inflation, there are very few if any savings account which would allow your money to grow in real terms or even to retain relative value going forward.
For the original version including any supplementary images or video, visit http://www.propertyforum.com/property-in-the-uk/are-rental-yields-high-compared-to-uk-interest-rates.html

Us Housing: Content To Rent?

By Anjli Raval Americans are increasingly abandoning property ownership as investment increases in the rental sector You have viewed your allowance of free articles. If you wish to view more, click the button below. The Financial Times Ltd 2013 FT and (visit site) ‘Financial Times’ are trademarks of The Financial Times Ltd. Printed from: http://www.ft.com/cms/s/2/5ba8d6f6-220e-11e3-bb64-00144feab7de.html Print a single copy of this article for personal use. Contact us if you wish to print more to distribute to others. The Financial Times Ltd 2013 FT and Financial Times are trademarks of The Financial Times Ltd.
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Comment: Flats Affordable — So Why Is Hdb Building More Rental Flats?

Rental unit fee draws ire at City Hall

Most heavy borrowers in Singapore have above average income levels, which means they are less likely to default on their loans, Channel Newsasia reported Mr Wong as having said. And just last week, the Sunday Times reported that those who have been defaulting on their Housing Board (HDB) home loans has halved from five years ago. So, the question is obvious: If HDB flats are affordable to anyone with as low a salary as S$1,000 a month, if our household debt-to-income ratio are not more stretched than they were in the last decade, and if fewer people are defaulting on their housing loans, why are we seeing an increased demand for cheaper rental flats, and especially in the past five years or so? The reversal from Mr Mahs vow in 2006 to not provide large numbers of rental flats, even if low-income families are clamouring for them, to Mr Khaws urgent promise in 2011 that actually we need to build by tens of thousands, and the earlier the better, it seems that there is an underlying problem with the affordability of our public housing flats for the lower-income, contrary to what the government may claim. If more have to turn to rental flats which is a housing option of last resort, as Mr Mah put it then perhaps we should take a deeper look and get to the root cause of this. Will building more such flats, which is a welcome move, solve the problem of more Singaporeans having to depend on such housing?
For the original version this website including any supplementary images or video, visit http://sg.news.yahoo.com/blogs/singaporescene/flats-affordable-why-hdb-building-more-rental-flats-041224208.html

1 Marie Szaniszlo A large, sometimes raucous turnout by landlords at a City Hall hearing yesterday turned up the heat on Boston lawmakers to repeal an ordinance that requires rental property owners to register and pay a $25 fee for each apartment they own and submit to an inspection every five years. I believed it would benefit tenants, City Councilor Charles C. Yancey, who is running for mayor, told the crowd of more than 100 people who filled the council chambers. But he said, This may well be viewed more as a revenue generator than an ordinance to deal with problem properties. As of last week, 95,000 of the citys 140,000 rental units had been registered under the new law, which is designed to prevent tragedies like the death last spring of a Boston University student in an overcrowded apartment that hadnt been inspected in years, said Brian R. Swett, chief of environmental and energy services. Skip Schloming, executive director of the Small Property Owners Association, said the ordinance is destined to be ineffective because problem property owners will not register with the city.
For the original version including any supplementary images or video, visit http://bostonherald.com/business/real_estate/2013/09/rental_unit_fee_draws_ire_at_city_hall

Unconventional Play on Rental Properties

Altisource Residential (NYSE: RESI ) (NYSE: RESI ) (NYSE: RESI ) purchases distressed mortgage loan portfolios with a strategy to work with borrowers to modify and refinance loans to either keep them in their homes or convert the unmodified loans into renovated rental properties. Instead of competing in one-off auctions, the traditional method of acquiring homes and the one preferred by Silver Bay Realty Trust (NYSE: SBY ) (NYSE: SBY ) (NYSE: SBY ) and American Homes 4 Rent (NYSE: AMH ) (NYSE: AMH ) (NYSE: AMH ) , the company is obtaining non-performing loans in pools that include thousands of loans. The ultimate outcome of these different models is unknown, but the market hasso far supported Altisource Residential.
For the original version including any supplementary images or video, visit http://www.fool.com/investing/general/2013/09/23/unconventional-play-on-rental-properties.aspx

Rent Increase Approved For 2014

For rent sign

(Kevin Yarr/CBC) TheIsland Regulatory and Appeals Commission on P.E.I. has approved an increase for residential rentals in the province. Starting Jan. 1, rent for heated units can go up two per cent, while the allowable increase for unheated units and for mobile home sites is one per cent. IRAC chair Moe Rodgerson said the commission considers a variety of factors when setting allowable rent increases. “We take into consideration submissions that are made by both landlords and tenants,” said Rodgerson.
For the original version including any supplementary images or video, visit http://www.cbc.ca/news/canada/prince-edward-island/rent-increase-approved-for-2014-1.1864876

Companies help boat owners rent their vessels

<img src='http://ww2.hdnux.com/photos/23/64/54/5196593/3/628×471.jpg&#039; width='200px' alt='ADVANCE FOR WEEKEND OF SEPT. 21 – This Sept. 6, 2013, shows Aabad R. Melwani, investor with Boatbound.co and President of Rickenbacker Marina, Inc., in Key Biscayne, Fla. Boatbound.co is a "boat sharing" company from Silicon Valley that has recently expanded to Miami. Also known as a "peer to peer" company, the company puts together a network of boat owners who want to share their boats when they are not using it and make some money. Photo: url The Miami Herald, Al Diaz’ style=’float:left;padding:5px’ />

While there are no reliable numbers on vacancy rates or turnover among rent-stabilized units, we know that Manhattan’s overall vacancy rate is between 1 percent and 2 percent, and that tenants in rent-stabilized units hold onto their apartments, on average, for twice as long as occupants of non-stabilized apartments (they’d be stupid not to; Kenny has been in his since 1997). All of which means that there is fierce competition for the apartments specifically designated for people who would otherwise be priced out of the market. Last year, the Times reported on how difficult it is to find one : I have people all the time who come to me and ask me to find them a rent-stabilized apartment, said Alexis Fleming, a broker at Citi Habitats. I tell them good luck. It is a needle in a haystack. In seven years, she said, she has rented just seven stabilized apartments. More than 10 years ago, New York magazine chronicled some of the more egregious injustices the rent-stabilization scheme promotes : A not uncommon story is that of the couple who live in a brownstone on East 87th Street owned by a client of real-estate lawyer Howard Stern.
For the original version including any supplementary images or video, visit http://gawker.com/this-megabank-lawyer-pays-lower-rent-than-you-for-no-go-1335865489

This Megabank Lawyer Pays Lower Rent Than You For No Good Reason

21 – This Sept. 6, 2013, photo shows… ADVANCE FOR WEEKEND OF SEPT. 21 – This Sept. 6, 2013, shows Aabad R. Melwani, investor with Boatbound.co and President of Rickenbacker Marina, Inc., in Key Biscayne, Fla.
For the original version including any supplementary images or video, visit http://www.sfgate.com/news/article/Companies-help-boat-owners-rent-their-vessels-4832160.php

Apollo Commercial Real Estate Finance, Inc. To Present At Jmp Securities Financial Services And Real Estate Conference

There will be a replay available following the presentation which will remain on the Company’s website for thirty days. About Apollo Commercial Real Estate Finance, Inc. Apollo Commercial Real Estate Finance, Inc. ( NYSE : ARI ) is a real estate investment trust that primarily originates, invests in, acquires and manages performing commercial real estate first mortgage loans, commercial mortgage-backed securities, subordinate financings and other commercial real estate-related debt investments throughout the U.S.The Company is externally managed and advised by ACREFI Management, LLC, a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, LLC, a leading global alternative investment manager with approximately $113 billion of assets under management at June 30, 2013. Additional information can be found on the Company’s website at http://www.apolloreit.com .
For the original version including any supplementary images or video, visit property management companies maryland http://finance.yahoo.com/news/apollo-commercial-real-estate-finance-200000443.html

This Megabank Lawyer Pays Lower Rent Than You For No Good Reason

The median income in Manhattanthe number that half of Manhattan’s workers are above, and half are below is $67,000 . Michael Kenny’s compensation exceeds that by a minimum of 70 percent, and visit this page perhaps by more than 300 percent. Given his occupation as a corporate lawyer for a $155 billion global banking conglomerate and his pedigree as a graduate of two Ivy league schools, he is by any measure a verified member of the city’s elite. And yet he pays less than $2,000 per month by virtue of a set of regulations designed to prevent landlords from sharply raising rents on people who are, by birth or by circumstance, excluded from that elite. There are 1,025,214 rent-stabilized units in New York City , constituting nearly half of available renting stock.
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Rent or Buy? Playing With Trulia’s Price Calculator

First, there’s the part that Trulia took care for us: looking at the average rental and sale prices for comparable properties and adding in the average monthly fees associated with renting or buying. Then there’s the part that we get to change around. Will we be owning/renting the property for 3, 5, or 7 years?
For the original version including any supplementary images or video, visit http://dc.curbed.com/archives/2013/09/rent-or-buy-playing-with-trulias-price-calculator.php