Archive for April, 2011

and to keep your apartment communities calm and peaceful.

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Affordable Rental Housing Is Scarce in U.S.

The share of renters who spend more than half their income on housing is at its highest level in half a century and it’s no longer just low-income tenants who are feeling the pain, according to a Harvard University study scheduled for release Tuesday.

About 26 percent of renters — or 10.1 million people — spent more than half their pre-tax household income on rent and utilities in 2009.

That’s because incomes slipped dramatically from their peak at the start of the decade even as rents kept rising.

The study offers the latest in a series of grim statistics about the scarcity of rental housing, especially Click Here for Full Video/Article (Members Only)

How Landlords Should Handle Unauthorized Occupants

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John Grosmann in Dayton sent me this article


Tips to prevent A/C theft

As part of a local initiative to curb air-conditioner thefts, Nationwide Insurance offered these tips for property owners:

Use ultraviolet ink to mark pipes in the air conditioner with your name and contact information. Police and metal dealers can read the markings with a black light.Remove exterior ladders and trim trees to reduce access to roof-mounted units.Enclose air conditioners in secure metal cages and anchor ground-level units to concrete pads.If possible, attach your alarm system to your air conditioner or have a contractor install an alarm.Cut back greenery and adjust outdoor lights to deny cover to thieves.

Metal prices soar as improving economy boosts demand (Jan. 19)Scrap thieves now taking entire air conditioners (Dec. 4, 2010)Mechanic gets 4 years in prison for air-conditioner thefts (Sep. 16, 2009)Local scrap-metal companies won’t buy air-conditioner parts for the next 30 days, giving property owners time to mark their units with invisible ink.

Columbus officials announced that plan yesterday as part of a continuing battle with thieves who steal metal that can be sold for cash. After the voluntary moratorium ends, scrap dealers will check for the markings when people bring in air-conditioner parts.

Thieves have stolen 437 air-conditioners since November, Columbus police say, and they expect more thefts to be reported as the weather warms up and people find that their units have been gutted for their copper over the winter.

“I want these criminals and these thieves to know: You cannot get away with stealing these air conditioners because we’re onto you,” Mayor Michael B. Coleman said during a news conference at a scrap dealership on Joyce Road yesterday.

In March, a police officer spotted a man dismantling the air-conditioner atop the Westland Cinema, Franklin County Prosecutor Ron O’Brien said.
Robert Cline, 32, was indicted last month on charges from that crime, which caused $15,000 in damage.

O’Brien’s office has indicted four other men in connection with the theft of 16 air conditioners. Two of those men, Carl Alff, 47, and James Shearer, 31, were indicted together yesterday on charges that they stole 11 air conditioners from apartment complexes in the city.

A 2007 Columbus law requires scrap dealers to pay for a $500 license and to report their metal purchases to police every day. The people selling the scrap to the dealers must provide identification and their thumbprints. They must show proof of ownership if they want to sell more than two appliances or one catalytic converter per day, and dealers must hold some items for 30 days.

The moratorium announced yesterday, in combination with encouraging property owners to mark their metal air-conditioner parts, will add to an effort that was already helping nab thieves, said Councilwoman Michelle M. Mills, who leads the council’s safety committee. The council plans no further legislation, she said.

The city’s law took effect during the last wave of metal thefts, when international prices for scrap metal were skyrocketing. In the meantime, the law, the recession and lower scrap-metal prices seemed to be making a dent in the problem. But as the economy began to revive last year and metal prices climbed again, scrap thieves got bolder.

In December, police said thieves were taking off with entire air-conditioning units, and the thefts never stopped.

“One report was for 25 units,” said Cmdr. Robert Meader.

Robert Patterson, deacon of Emmanuel Tabernacle Baptist Church, has endured the theft of four air conditioners at his church. Replacing them, adding secure cages and upgrading lights cost the church $20,000, he said.

Josh Joseph, an owner at I.H. Schlezinger Inc., the scrap dealership where Coleman and other officials announced the initiative, said his employees soon will be able tell immediately whether air-conditioner parts have been stolen.

If an ultraviolet light shows that they’re marked, employees will call the police.
In the meantime, Joseph isn’t sure what the 30-day moratorium, agreed to voluntarily by the holders of 19 scrap-metal licenses in Columbus and Franklin County, will do to his business.

“We are happy to be part of the solution to metals thefts,” he said.



Thursday, April 14, 2011  03:08 AMBy Doug Caruso

Fannie Mae Offers Incentives to Real Estate Investor Buyers and REO Buyers’ agents can earn $1,000 bonuses on HomePath sales in 2 states

Fannie Mae is once again offering closing-cost assistance for buyers who close on a home in the mortgage giant’s real-estate owned (REO) inventory, but in most states will not bring back cash bonuses it previously paid to buyers’ agents.

Buyers who put in initial offers on or after April 11, and close on the sale of a Fannie Mae HomePath property by June 30, will be eligible to receive up to Click Here for Full Video/Article (Members Only)