News and Views
Amid the jobless recovery, some landlords are showering flat-screen TVs, cash, rent cuts and other incentives on tenants to encourage them to renew their apartment leases and thus avoid the expense of filling empty units.
"Fueled by persistently high unemployment rates, completed foreclosures surged 56.7 percent over the first half of the year, placing foreclosures on pace to surpass their recent high in 2008, according to figures released Tuesday morning."
A Pennsylvania city considers charging property owners for building inspections, as a means to address both habitability issues and budget concerns.
Unable to afford Hawaii rents (the highest in the nation), tenants of Kalihi home lived in substandard conditions because it was all they could afford. The home recently collapsed and displaced the tenants.
Citing high unployment and the weak economy, Los Angeles City Councilman Richard Alarcon called Wednesday for a one-year moratorium on increases for rent-controlled units.
Approximately 30,000 tenants gathered in East Point, a suburb just outside of Atlanta, to stand in line for a Section 8 housing application. There are 455 newly available Section 8 vouchers, which renters can use anywhere in the country.
Judge Green orders FL-based special servicer LNR Property to make $2.5 million in repairs at 10 foreclosed buildings in the Bronx.
The Massachusetts State Senate is considering the woes of tenants victimized by the foreclosure crisis. It recently gave unanimous support to a law that targeted stabilization of the neighbourhood by giving protection to the tenants from eviction due to foreclosure. The Senate gave the nod to Act to Stabilize Neighborhoods.
California-based management company Proresidential has failed to pay the water bill for its tenant-occupied apartment complex in Oklahoma. The city has moved to shut off water service, and tenants have until Christmas to vacate.