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☆ How I negotiated to lower my monthly rent in a tight housing market
▼ + stars: | 2024-05-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Conventional wisdom says you're more likely to be able to negotiate lower rent if there are plenty of local vacancies or when your rental is going for an above-market rate. As rental unit owners ourselves, we know how challenging it an be to find reliable tenants who will care for your property the way you would yourself. We'd like to continue being those renants for you, and respectfully request that you consider a renewable 6-month lease term at the current rate of $3,550 per month, or a 1-year lease term at a rate of $3,450. AdvertisementBe creative with your asks — and flexible with your expectationsPart of our initial ask included a variation on the lease term (6 months instead of a year), showing our landlords we were open to options other than a standard 1-year lease.

Persons: Zillow, it'd, we'll, We've Organizations: Service Locations: Santa Barbara , California, Airbnb

☆ Buying a dream home in Italy can be a nightmare. This couple says they have the answer
▼ + stars: | 2024-05-20 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +8 min

The couple has set up a flourishing business buying properties, restyling and reselling them, ready-to-occupy, helping foreign buyers every step of the way. They hunt for old houses in historical villages in need of a makeover, which once renovated make the perfect summer getaway. The BEFORE picture: The couple find old houses in need of a makeover. The old properties the pair handles are located in small towns where centuries-old traditions survive. I really like old houses and the idea of giving them a second chance: especially when they are abandoned buildings rich with history.

Persons: you’ve, That’s, Bruno Mongiardo, Ginevra dell’Orso, ” Dell’Orso, Dell’Orso, –, ”, “, they’re, Mongiardo, ” Mongiardo, dello Organizations: CNN, Graecia, Bruno Mongiardo Southern, Locals, Foreigners Locations: Italy’s, Calabria, characterful, Isca, Italy’s Calabria, Venice, Milan, Badolato, Calabrian, Sostene, Santa

☆ Your vacation was ruined, and the company apologized — with a heartfelt note written by ChatGPT
▼ + stars: | 2024-05-05 | by ( Monica Pitrelli | Poonam Binayak | ) www.cnbc.com time to read: +6 min

'A pretty good job'For all its faults, ChatGPT "does a pretty good job" responding to customer complaints, Natasha said. A screenshot of a discussion about using ChatGPT to write reviews on Airhosts Forum, a website for Airbnb hosts. His company, which counts Priceline, Hopper and AvantStay as customers, uses AI to help customer service agents sound more professional, he said. More discovering itMichael Friedman, CEO of the family-run vacation rental company Simple Life Hospitality, said his company does not use AI to respond to customers. But after learning that other travel companies are, she decided to test ChatGPT with a real-life problem she recently faced.

Persons: Natasha, Reddit, Luca Zambello, Brad Birnbaum, Hopper, Birnbaum, Michael Friedman, …, Aw, Tokudaw, ChatGPT Organizations: CNBC, Airhosts, Airbnb, Mt Fuji Locations: TripAdvisor, Yelp

☆ How to tell if you can actually afford a major purchase: 'Most people genuinely have no idea,' says self-made millionaire
▼ + stars: | 2024-05-01 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

Most people 'genuinely have no idea'The couple's recent major purchases include an awning and rack for their van and a vacation to Barbados. In both instances, they considered whether or not they could afford the purchase on a monthly basis, Sethi said. "This is very common, and most people genuinely have no idea how to decide if they can afford something." Like many people, Callie and Travis think about their budget on a monthly basis, rather than an annual one. "Until now, they would go on trips, charge up a bunch of stuff, and then get surprised at how much it all cost," Sethi said.

Persons: Callie, Travis, Ramit Sethi, Rich, Sethi, Skip Locations: Texas, Barbados, Alaska

☆ This Ohio cabin was just named one of the top 10 vacation rentals in the world—check it out
▼ + stars: | 2024-04-20 | by ( Annie Probert | ) www.cnbc.com time to read: 1 min

Tucked away in the forests of Hocking Hills, Ohio, is a luxury cabin that was recently named one of the hottest vacation rentals in the world by a panel of judges selected by eviivo, a property management system for hotels, vacation rentals and bed and breakfasts. The properties were chosen from hundreds of submissions and ranked against features like "design, history, amenities and visual aesthetics," according to eviivo's press release announcing the list. Known as The Rocky Villa, the Ohio property includes a two-bedroom, two-bathroom cabin and offers "the perfect blend of luxury and tranquility," according to the rental's website. It also features two waterfalls, "creating a serene and picturesque backdrop for your stay," the website says.

Persons: Rocky Villa Organizations: eviivo Locations: Hocking Hills , Ohio, Ohio

☆ Adam Neumann opens up about his billion-dollar plan to transform apartment living and explains why he wants to buy back WeWork
▼ + stars: | 2024-04-11 | by ( Ben Bergman | ) www.businessinsider.com time to read: +6 min

In August 2022, former WeWork cofounder Adam Neumann announced he was back, starting a new company called Flow to transform apartment living. I spoke with residents and staff, but my many requests to speak on the record with Neumann himself were always rebuffed. Whatever happens with Flow, Neumann will always be remembered for WeWork, which he resigned from in 2019. The launch occurs as Neumann is trying to buy back his bankrupt former company for more than $500 million. I think people are skeptical of how Flow is a tech company.

Persons: Adam Neumann, Andreessen Horowitz, Neumann, Neumann's WeWork, it's, We're, we're, It's, WeWork, You've, Ben, Horowitz Organizations: Business Locations: Fort Lauderdale , Florida, South Florida, Fort Lauderdale, Miami

☆ A real-estate investor who owns 110 units switched from residential to commercial properties because they make money faster. He shares his strategy for beefing up the cash flow they generate.
▼ + stars: | 2024-03-19 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Like most investors that use the method, he was initially fixing up residential properties and renting them out to tenants. Instead of buying homes to fix up, he started purchasing commercial properties like office buildings, warehouses, and retail spaces. Related storiesThe better a commercial property is, the more rent one can charge for it, which directly impacts its value. In seven of the commercial properties that Craig owns, he said he has a 100% occupancy rate. "I'm just grinding way harder than any commercial real estate broker would ever grind for me because they have 50 or 100 clients."

Persons: —, Adam Craig, it's, Craig, they're, he's Organizations: Service, Business Insider, Business Locations: San Francisco , New York City

☆ Student Housing Pioneer Faces Angry Investors, Irate Judges and a $115 Million Bill
▼ + stars: | 2024-03-18 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Patrick S. Nelson is a man under siege. An early player in the off-campus student housing business, Mr. Nelson built his property management company by raising money from big lenders and hundreds of wealthy individuals. But his business has soured in recent years, and Mr. Nelson — who has so far reneged on promises to pay back some of those partners — now faces more than a dozen lawsuits and a dogfight with a private equity firm. Mr. Nelson is on the hook for at least $115 million, which he has not paid despite escalating fines and interest and twice being held in civil contempt by judges over the alleged misuse of company money. His defiance has frustrated investors and lenders, and irritated some of the judges hearing those disputes.

Persons: Patrick S, Nelson, Nelson —, —, “, Melissa Crane, Justice Crane Organizations: Fortress Investment Group Locations: New York County, Utah, California

☆ The chef at London's Chishuru just won her first Michelin star. She started with a competition to open a pop-up restaurant.
▼ + stars: | 2024-03-10 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on an interview with the founder and chef of Chishuru, Joké Bakare, about pursuing her dream to open a restaurant. A year later, some friends spotted a competition run by Brixton Village in south London — they were offering the winner a three-month pop-up restaurant. In some ways, the Brixton restaurant was straightforward — it was a small site with just 18 covers inside and 14 outside. Harriet LangfordThe restaurant's success continued and in April 2022, Time Out named Chishuru as London's best restaurant. It's the food that my grandmother might have cooked, but with a London restaurant spin.

Persons: —, Joké, Covid, Jay Rayner, Matt Paice, Bakare, Harriet Langford, they'd, I've, We've, Cook, Chishuru Harriet Langford, It's Organizations: Service, Ahmadu Bello University, Business, Brixton, The Observer, Michelin, uda Locations: Kaduna, Nigeria, London —, Brixton, London, Matt, Chishuru

The construction industry added an estimated 23,000 jobs in February; however, the pandemic effects still loom large for businesses such as DreamOn Group, a San Antonio, Texas-based developer, general contractor and property management firm. When Julissa Carielo started the company 18 years ago as Texas Premier Building Contractor Inc., she did so with $75,000 pulled from her 401(k) and two employees. “The Baby Boomers retired; we had way too many retirement parties going on and not enough new folks coming in,” she said. Every week, we’re looking for workers, and we cannot find them.”DreamOn Group is one of many businesses affected by worker shortages in the skilled trades. DreamOn Group previously had an in-house crew to tackle projects such as demolition, concrete work, interior finishes, drywall and painting.

Persons: Julissa Carielo, ”, Read Organizations: DreamOn, Inc, Boomers Locations: San Antonio , Texas, Texas

☆ Key takeaways from the latest jobs report
▼ + stars: | 2024-03-08 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

“The economy remains strong, held up by a robust labor market,” wrote Christopher Rupkey, chief economist with FwdBonds, in a note Friday. Still, Friday’s jobs report also showed that the whopping gains initially recorded for January and December were revised down by a combined 167,000 jobs. January’s job gains now sit at an estimated 229,000 (down from the blowout 353,000); and December’s job growth at 290,000 (down from 333,000). In February, that included construction (up 23,000 jobs); transportation and warehousing (up 19,700 jobs); and retail (up 18,700 jobs). Friday’s jobs report showed that wage growth is indeed slowing.

Persons: ”, Christopher Rupkey, FwdBonds, “, ” Robert Frick, —, ” Diane Swonk, Swonk, February’s, ” Frick, Julissa Carielo, ” Swonk, Gus Faucher, Lydia Boussour, EY, Boussour, Janet Yellen, CNN’s Kate Bolduan, they’re, ” Yellen, Price, CNN’s Bryan Mena Organizations: New, New York CNN, of Labor Statistics, Navy Federal Credit Union, CNN, KPMG US, Health, Baby Boomers, Transportation Security Administration, DreamOn, Inc, Boomers, Fed, Labor, Federal, PNC Financial Services, “ Fed Locations: New York, San Antonio , Texas, Texas

☆ A W-2 employee who used real estate to reduce federal taxes on his $300,000 salary by 99% explains how to pick the right property to qualify for the tax loophole and maximize deductions
▼ + stars: | 2024-03-02 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

By then, he had sold his short-term rental property for a profit, but he still owned other long-term rentals. Therefore, they used the real-estate professional status and bonus depreciation to reduce their taxable income. The main one is through the short-term rental tax loophole (STR loophole). For example, Eileen pointed to Henderson, Nevada, which won't allow a short-term rental permit for a house if there is a permit for an existing short-term rental within 1,000 feet. Deductions would cancel out the taxes owed from the property's revenue, and what is left will reduce your W2 taxable income.

Persons: Michael Hyun, Joshua, Hyun, Eileen Kim, Eileen's, Michael, Brandon Ford, Eileen, Ford, Michael said, you'll Organizations: Business, CPA, IRS, Tax Relief, American Families and Workers Locations: Joshua Tree , California, New York City, San Francisco, Santa Monica , California, Henderson , Nevada, San Jose , California, Alameda County

☆ Activist Elliott calls for a big buyback at Mitsui Fudosan — 3 ways the company may create value
▼ + stars: | 2024-03-02 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Business: Mitsui Fudosan is a Japan-based company engaged in the real estate business. Even as a commercial real estate company, Mitsui Fudosan does possess some brand power, which translates to premium pricing power. Mitsui Fudosan is grappling with a low valuation and return on equity in absolute terms and relative to peers. Right now, Mitsui Fudosan has 0.65 times price to adjusted book value (for real estate companies) and the lowest ROE among its peers. There are three things Mitsui Fudosan can do right away to create value for shareholders.

Persons: Elliott, Palliser, ROE, debatably, Dai, Takashi Ueda, Ken Squire Organizations: Mitsui Fudosan, Mitsui Home, Mitsui, Nikkei, Oriental Land Company, Tokyo, Mitsui Fudosan's, Tokyo Stock Exchange, Keisei Rail, Dai Nippon Printing, Dai Nippon, Services, 13D Locations: Japan, COOs, ValueAct, OLC, OLC .

☆ A real-estate investor who says he lost $36,000 investing in turnkey properties shares 4 things he would have done in hindsight to avoid the headaches
▼ + stars: | 2024-03-01 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

When real-estate investors talk about "turnkey" rental properties, they mean a unit that is already habitable and ready to rent out. That's what Texas-based real-estate investor Aaron Logan expected when he bought several turnkey rental properties over the last five years or so. Since Logan bought it, he's had to replace the HVAC unit, the roof, and the sump pump. Logan said he trusted that the turnkey marketing company he was working with knew that the turnkey seller would be quality. "You need a good agent, a good need a good property manager, you need a good contractor — there are other ways to track that down other than using a turnkey company," Logan said.

Persons: Aaron Logan, Logan, he's, it's, Dan Lane, Lane Organizations: Business, Facebook Locations: Texas, Birmingham , Alabama

☆ 10 best places in the U.S. to buy a winter vacation home based on rental performance, cap rate and more
▼ + stars: | 2024-02-29 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Buying a vacation home, whether it's a beach house or a spot on a lake, can prove to be a smart investment. You, your family or friends can use the home whenever you want and you can rent out the space if you need some extra income. In February, vacation rental management platform Vacasa released a report on the best places to buy a winter vacation home in the U.S. based on the highest cap rates. To determine its ranking of the top vacation rental markets, Vacasa did the following:Analyzed home sales and vacation rental performance data and projections from the last 12 monthsUsed actual performance data for the market as a whole, where available, to determine average gross rental incomeConsidered the averages of the following in each market: property taxes, utilities, HOA fees, insurance, and property management fees to calculate the average cap rateVacasa suggests prospective buyers check current local regulations before buying a winter vacation house because different areas have their own set of rules about renting out a property.

Persons: Vacasa Locations: U.S

☆ Commercial real estate services firm restructures debt after default as industry's problems widen
▼ + stars: | 2024-02-26 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +6 min

The announcement came after S&P Global Ratings lowered Avison's credit on Friday and reported that the company had defaulted on the loan. Weeks earlier, S&P had downgraded the credit rating of Cushman & Wakefield, another major services firm. Higher interest rates have dislocated property values and stifled sales transactions, cutting off a major revenue stream for these firms. Leasing activity across major property types, meanwhile, including office, remains diminished. A push into US real estateAvison sought to rapidly grow in the US over the past decade, including in major commercial real estate markets such as New York City.

Persons: Avison Young, Weeks, Cushman, –, Mark Rose, Avison, Rose, CDPQ, Arbour, MSCI, doesn't, that's Organizations: Cushman & Wakefield, Business, Leasing, Caisse, Federal Reserve Locations: Toronto, Avison, Lane, Stamford , Connecticut, New York City

☆ Simon Property Group CEO David Simon sits down with Jim Cramer
▼ + stars: | 2024-02-06 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Simon Property Group CEO David Simon sits down with Jim CramerSimon Property Group Chair, President and CEO David Simon joins 'Mad Money' host Jim Cramer to talk its 30th anniversary as a public company, quarterly results, the property management space and more.

Persons: David Simon, Jim Cramer Simon, Jim Cramer Organizations: Simon Property

It allows the city to suspend a landlord’s rental license if police answer four or more “nuisance” calls in a year. Minnesota law meanwhile prohibits landlords from limiting or preventing calls for emergency services and also preempts local ordinances penalizing landlords over such calls. She later learned the calls ran afoul of Peoria’s nuisance ordinance. Last year, Maryland prohibited landlords from evicting tenants over the number of emergency calls to their addresses, as well as prohibited cities and counties from penalizing landlords for emergency calls. Jose Cruz Guzman, who serves on the board of Minneapolis’ Sky Without Limits Cooperative, said emergency calls to an apartment would prompt support from fellow residents.

Persons: ”, Elizabeth Sauer, Jeff Weaver, Sue Abderholden, Scott Baumgartner, Baumgartner, Tina Davies, Davies, they’re, “ I’m, Kate Walz, Jose Cruz Guzman, ___ Hanna, Steve Karnowski Organizations: U.S . Department of Justice, Central Minnesota Legal Services, City, FBI, DOJ, Anoka, National Alliance, Mental, Associated Press, Fair Housing, Peoria, American Civil Liberties Union, New, New York Civil Liberties Union, National Housing Law, Housing, Prevention Locations: Minneapolis, Anoka, Mississippi, ”, Minnesota, California , Ohio, Illinois, Peoria, New York, Hesperia , California, U.S, Maryland, California, Topeka , Kansas

LOS ANGELES (AP) — Graffiti has risen to high art in downtown Los Angeles: Taggers have covered at least 27 stories of an unfinished high-rise development. The towers were going to house a hotel and luxury condos, but the project stalled in 2019 when the Beijing-based developer ran out of money, the Los Angeles Times reported. Photos You Should See View All 45 Images“The measures will be implemented immediately and the graffiti will be removed,” it said. On Thursday, suspects were reported spray-painting a site on the 30th floor and officers were told the suspects fled in a vehicle. Officers ultimately stopped the vehicle and cited the driver for failure to yield, police said.

Persons: Taggers Organizations: ANGELES, Los Angeles Convention Center, Los Angeles Times, Police Department's Locations: Los Angeles, Beijing, area's City

☆ I was thrilled to live in a tiny home. But it got too expensive, and now I'm moving out.
▼ + stars: | 2024-01-29 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

Elizabeth Illing moved into a tiny home believing it was a long-term solution to Austin's high rents. Illing said her rent and utility bills went up during the two years she's lived in the tiny home. I thought moving into the Casata tiny home community was a good idea for my family due to the affordability. I'm paying $600 to $700 more each month than I was before moving into the community. AdvertisementFor others considering moving into a tiny home, I would advise paying attention to your lease and definitely knocking on doors to talk to current residents.

Persons: Elizabeth Illing, Illing, she's, —, I've, It's, rollerblading, we've, it's, that's, we're Organizations: Service Locations: Austin , Texas, Pest

The lawsuit alleges that school personnel at Taylor Allderdice High School failed to provide adequate supervision and care of the girl during school hours and during transportation to and from school. The painful result was her sexual assault.” said attorney Alec Wright, who represents the girl and her mother in the lawsuit. The lawsuit alleges that Starbucks employees witnessed the male students taking turns entering the bathroom with the girl and did not intervene. The girl's mother notified school officials that her daughter would need help adjusting to high school and with taking public transportation to school, according to the lawsuit. The lawsuit alleges that Starbucks employees allowed students largely unrestricted access to its bathrooms partly because the students increased the store's sales.

Persons: ”, Alec Wright, Taylor, Taylor Allderdice, It’s Organizations: Starbucks, Pittsburgh Public Schools, Taylor Allderdice High, Kappa Drive, Kappa, Pittsburgh Department of Public Safety, Associated Press, Tasers Locations: Allegheny County, Pleas, Seattle

☆ Evergrande’s Hong Kong court ruling is big reprieve
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Dec 4 (Reuters Breakingviews) - A Hong Kong court on Monday adjourned to next month a hearing over a petition for the liquidation of China Evergrande (3333.HK). It lobs the ball back to Beijing: the judge told Evergrande to hold direct discussion with “relevant authorities” on the revamped terms. Options are limited following the detention of the company’s Chair Hui Ka Yan in September on suspicion of unspecified crimes. It also defers a high-profile test on whether Hong Kong liquidation rulings over mainland companies would be implemented across the border more efficiently following the introduction of a limited mutual recognition pact in 2021. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Evergrande, Hui Ka Yan, Chan Ka, Neiman Marcus, Una Galani, Thomas Shum Organizations: Reuters, Hong, HK, X, Saks, Barclays, Thomson Locations: HONG KONG, Hong Kong, China, Beijing

As a financial planner, I have clients asking about investing in real estate on a regular basis. Real estate shouldn't be seen as passive income — it takes a lot of work and a lot of risk. But most people who are curious about investing in real estate have a lot of false assumptions and little knowledge or experience. Start Investing in Real Estate without Getting a Mortgage Fundrise is one of the best real estate investing apps for non-accredited investors looking to make long-term investments in real estate. But virtually no real estate investment is truly passive income.

Persons: shouldn't, — Organizations: Service Locations: Real

With his rental earnings and increased salary, Vij was able to buy more rental properties in southern Ontario. Investing in rental propertiesVij's first rental property was a two-story detached home with seven rentable rooms, two miles away from McMaster's main campus. Otherwise, whatever money Vij made from his job and rental property went straight into savings for more rental properties. "I want to own as many assets as possible that generate cash flow and use any extra cash to buy more assets." In 2023, Vij broke even on his rental properties.

Persons: Karun Vij, Vij, —, I'd, Karun, Jeremy Applebaum, I'm, Seema, Vij Vij, He's Organizations: CNBC, aha, McMaster University, McMaster, Fortune, Fiverr Savings, Spotify, Amazon Prime, Google, Walt Disney Locations: Hamilton , Ontario, Canada, McMaster's, Cambridge, Ontario, Chicago, Brampton , Ontario, Toronto, Mississauga, Hamilton, Milton , Ontario, Windsor , Ontario

☆ China Evergrande unit commences legal proceedings against parent
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 28 (Reuters) - Evergrande Property Services Group (6666.HK) said on Tuesday one of its units had commenced legal proceedings against Hengda Real Estate Group Company and embattled developer China Evergrande (3333.HK), among others. The proceedings are related to the enforcement of Evergrande Property Services' deposit pledge of about 13.4 billion yuan. Jinbi Property has also commenced legal proceedings against Shenzhen Qihang Metals Materials Company, Guizhou Guangjuyuan Real Estate Development and Hengda Real Estate Group Guiyang Property. In February, parent Evergrande had said it was in talks with Evergrande Property Services to repay the funds.

Persons: Aly, Evergrande, Echha Jain, Devika Organizations: China Evergrande Group, REUTERS, Evergrande, Services, HK, Hengda Real Estate Group Company, China, Jinbi Property Management Company, Shenzhen Qihang Metals Materials Company, Development, Real, Guiyang, Evergrande Property, Property Services, Guangzhou, People's, Thomson Locations: China, Shenzhen, Guangdong province, Guizhou Guangjuyuan, Guangdong Province, Bengaluru

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