Archive for June 2008
U.S. Unemployment Rate Showed Dramatic Increase in May
Washington, D.C.–The U.S. unemployment rate rose to 5.5 percent in May–the largest increase in more than two decades, the Bureau of Labor Statistics said Friday.Workers already struggling with the housing decline and rising energy prices rise are now also facing an increased risk of unemployment, the New York Times said. Payrolls have declined every month…
Read MoreTraining Days
By Tanya AdairFrom the applicant search to the interviews to the job offer, hiring quality property managers is no small task. Recruiting solid employees takes time and hard work. One of the best ways to retain good property managers once they’re hired is to provide valuable training.Dominium Management Services (DMS), a privately owned apartment management…
Read MorePlans Unveiled for 28-Story Condo Tower in Windy City
By Myles McBride, ReporterChicago–Plans for Solstice on the Park, a new 147-unit condominium project in Chicago’s Hyde Park neighborhood, have been unveiled by Englewood, N.J.-based developer, Antheus Capital.The 28-story tower, located at 5532 S. Cornell Ave., will be the first new condo development to come up in 30 years in this Windy City neighborhood.Architect Jeanne…
Read MorePayment Integration for Check Scanning
Provo, Utah– Property Solutions has announced that payments processed through ResidentPay Check Scanning will integrate with most popular property management software. The company has been integrating online credit card and ACH payments for several years. The Check 21 system now allows managers to scan and post payments made paper checks and money orders electronically, reducing…
Read MoreSperry Van Ness Enters into 10-Year Area Development Agreement with Coast Real Estate Services
By Erika Schnitzer, Associate EditorSeattle–Sperry Van Ness has signed a 10-year area development agreement with Tom and Shawn Hoban, the owners of Coast Real Estate Services, an Everett, Wash.-based real estate company.“We have chosen to co-brand in this market to make sure people are aware that both the strength of the local company at Coast…
Read MoreDEAL OF THE DAY: Gebroe-Hammer Associates Arranges Sale of 329 Units for $37.725M
By Anuradha Kher, Online News EditorPhiladelphia–Gebroe-Hammer Associates recently closed the sale of two Philadelphia rental properties totaling 329 units. The Courts (pictured), a 167-unit apartment complex located in the University City neighborhood, was sold for $22.35 million, and Fairmount Terrace Apartments, a 162-unit garden community near Center City, was sold for $15.375 million.Powelton Avenue LLC…
Read MoreMulti-Housing Executives on the Move
By Anuradha Kher, Online News EditorARA Hires Robert Ryan in its National Affordable Housing Practice GroupAtlanta–Robert Ryan has joined Apartment Realty Advisors’ (ARA) recently launched National Affordable Housing Practice Group, based in Dallas.According to ARA’s Cliff McDaniel, a principal in the Affordable Housing Group, “The addition of Ryan to our team solidifies our service delivery…
Read MoreTips for Award-Winning Performance
By Teresa O’Dea Hein, Managing EditorMills Properties Inc. recently took home a total of seven prizes at this year’s “Rising Star of the Year Awards” banquet, organized by the St. Louis Apartment Association (SLAA). Among Mills’ honors is the prestigious title of Management Company of the Year, which it has won a total of five…
Read MoreUnemployment Numbers Mean Trouble for Housing
Yesterday, we talked about how the housing decline was costing Hispanics construction jobs–but, according to today’s unemployment report, the whole industry is suffering. That’s not to say that Hispanic workers are any better off than they were earlier this week, as evident by the number of articles that have popped up in the past few…
Read MoreNew HUD Secretary Selected
Washington, D.C.–The Senate confirmed President Bush’s pick for the new head of the Housing and Urban Development Department, the New York Times reported Thursday.Steven Preston–former Small Business Administration Administrator and prior executive at ServiceMaster Co., a network of more than 5,000 home care businesses–will be the new housing secretary.Preston will serve as a key representative…
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