MultiFamilyAssociates.com

Iowa Supreme Court upholds Residential Co-op law

Bob Randklev, CCIM — Thu, 04 Aug 2011 16:39:24 +0000

A number of landlords, looking for property tax relief, have been waiting for this Iowa Supreme Court decision.

It is a very favorable decision for those wanting to convert to residential co-op status

http://www.iowacourts.gov/Supreme_Court/Recent_Opinions/20110729/09-0654.pdf

Are you considering a co-op or need more information? Contact us for a private consultation.

Another article apartments continue to be a good investment!

Bob Randklev, CCIM — Wed, 03 Aug 2011 14:06:22 +0000

GlobeSt.com reported multifamily apartment investments will continue to be strong through 2015

The entire article can be read here: http://www.globest.com/blogs/streetsmart/-312587-1.html

The article reads the outlook is very good, demand for rentals continues to swell.

Contact us for a private consultation

We have a number of apartment buildings coming on the market in the coming months. If you are a buyer looking for properties stay tuned.

If you are an owner and you’d like to plan your future sales strategy, taxes and more, contact us for a private consultation!

Apartment Rents to rebound in 2011

Bob Randklev, CCIM — Sun, 06 Mar 2011 16:08:22 +0000

Multifamily indicators continue to move upward and here’s an interesting article from a couple weeks ago about increasing rents in 2011

http://multifamilyexecutive.com/rents/outta-sight.aspx?rssLink=Outta+Sight

Have you raised rents in the past year or left them the same?

96% increase in apartment sales in 2010

Bob Randklev, CCIM — Thu, 10 Feb 2011 23:10:54 +0000

The MultiFamilyAssociates.com team had a great year in 2010. We helped buyers and sellers with a number of properties and we really feel we are seeing an upturn in Iowa and the midwest.

This article form MultiFamilyExecutive.com only confirms what we are seeing happen right now!

http://multifamilyexecutive.com/dispositions-and-transactions/sales-of-apartments-in-2010-jumped-96.aspx?rssLink=Sales+of+Apartments+in+2010+Jumped+96%25

If you are looking to buy or sell a multifamily apartment building be sure to contact us!

Updates on tax cut extension in 2011

Bob Randklev, CCIM — Tue, 18 Jan 2011 16:46:00 +0000

2010 was a brisk year for sales. Some of that due to owners worried about the increase in capital gains and cost recovery taxes. The tax cuts were extended but for how long?

This article offers more insight: http://multifamilyexecutive.com/government-entities/tax-cut-extension-provides-some-advantages-for-apartment-industry.aspx

Are you planning to sell your investment properties soon? Have you calculated your current ROE or Return on Equity? Contact us to learn more

Multi-family Hot Markets in 2011

Bob Randklev, CCIM — Mon, 17 Jan 2011 16:32:12 +0000

MultiFamily Executive magazine has a great article on the hot markets for 2011. A shortage is brewing in the multifamily market as there have been very few new building projects the past few years. Over time this will catch up and create a need for more units… they predict this has already started

http://multifamilyexecutive.com/development/the-5-hottest-markets-for-2011-apartment-development.aspx?

Are you seeing this kind of growth in your markets? Are there new multifamily projects in process right now?

MultiFamilyAssociates.com

“We Sell Apartments”

Bob Wilkes
Broker Associate
BobW@MultiFamilyAssociates.com
319-540-1178

Mike Shaffer, CCIM
Investment Broker
MikeS@MultiFamilyAssociates.com
319-360-6118

Bob Randklev
Commercial Realtor
BobR@MultiFamilyAssociates.com
319-775-0045

Licensed in the state of Iowa

Skogman Realty
411 1st Ave NE Ste 300
Cedar Rapids, IA 52401

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Cedar Rapids Ia market update as read at Forbes

Bob Randklev, CCIM — Tue, 09 Nov 2010 16:26:05 +0000

Forbes recently posted a very interesting and upbeat article on what we in Cedar Rapids already know but not everyone around the country does!

First read the article here: http://blogs.forbes.com/kurtbadenhausen/2010/10/29/names-you-need-to-know-in-2011-cedar-rapids/?ref=nf

This is a testament to the the investment market we have in Cedar Rapids. Combine that with solid multifamily investment properties and you can’t find a better combination!

Any comments? Post them here.

Wall Street Journal reports Apartment Rents Rebound

Bob Randklev, CCIM — Thu, 07 Oct 2010 13:05:57 +0000

The Wall Street Journal reported apartments rents have rebounded making apartment owners happy!

Vacancies are down which has allowed some owners to raise rents

You can view the entire article here:

http://online.wsj.com/article/SB10001424052748703298504575534473154081764.html?mod=residential_real_estate

IT’S APARTMENT TIME!

Bob Randklev, CCIM — Fri, 01 Oct 2010 16:49:57 +0000

My associate Bob Wilkes wanted me to send this to everyone:

The $8,000 tax credit for home buyers expired April 30th. That credit pushed home sales forward and as expected June and July home sales declined rather drastically.

It’s our opinion that most of the would be buyers are gone and that leaves the renters. Some people simply prefer to rent.

For whatever reason that’s always been the case and we are seeing that played out in the Cedar Rapids and Iowa City markets. Vacancies are down substantially and well maintained units are getting good results. Aiding this pleasant state of events is our unemployment rate. Linn County is 6.5% and Cedar Rapids proper is 6.4%. We don’t have to look very far to realize our area is in much better shape than other parts of the country.

In addition, and of no small matter, are recent statistics ranking cities on their ability to withstand recessions. Nationally, Cedar Rapids and Iowa City are ranked 5th and 6th respectively.

Last but not least are the historically low costs of borrowing. In 36 years of managing and selling apartments I’ve never seen commercial rates below 5%, but they are now! In short, we believe this is an opportune time to buy apartments.

The spread between cap rates and loan rates is very favorable and the tax deductions are still in place and will remain so even if the Bush tax cuts are allowed to expire.

Do you have a comment? Post one below

C.R. landlords face registration deadline

Bob Randklev, CCIM — Thu, 30 Sep 2010 16:45:47 +0000

CEDAR RAPIDS – The city is reminding landlords they have until Oct. 31 to register rental units with the city or face a penalty of $1,000 for each month they fail to register.

GOVERNMENT NOTES

The one-time license fee is $50.

The city is particularly concerned that small landlords – those perhaps renting a part of their home to one person – do not know about the new landlord licensing and rental housing registration program recently implemented by the City Council.

The program is aimed at giving the city enforcement powers to clean up problem properties. But the requirement applies to all landlords.

License applications are available at the Code Enforcement Division’s office in the Public Works building, 1201 Sixth St. SW.

Applicants must submit a list of all rental unit housing to be associated with the license.

In addition, all rental housing must be registered annually.

The registration fees range from $30 for single family dwellings or duplexes to $25 for multifamily dwellings plus $8 for individual apartments or units.

All rental units transferred or purchased after July 19 must be registered within 30 days of the transaction. There is a $1,000 penalty for each month of a delinquent license or rental unit registrations after Oct. 31.

Landlords also are required to use a Crime Free Lease Addendum/Agreement with tenants.

The addendum is available on the City’s website (www.Cedar-Rapids.org) and at the Code Enforcement Division’s office.

The new program is expected to be implemented by October. For more information, visit the Housing Inspections section of the City’s website.