High Energy Prices Affecting Landlords? You Betcha…
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With many older apartment buildings, utilities are built into the rent as common furnaces are deployed. You see this much more in the northern cities where central air is not offered.
But with the sky high increases in fuel oil and natural gas, these landlords are taking a beating. This issue hit my radar screen when Warren Marcus LLC, a Wisconsin landlord, had to file Chapter 11.
If energy costs are the only increase, most landlords can probably ride it out till the next lease comes around. However, if there are any other unexpected business costs that arise, watch out below.
And traditional upgrades for rental units that have utilities included probably will be postponed. The money for improvements are going directly to the power and oil companies.
With a Chapter 11 filing, a company still can run its business, but the move allows it to restructure its business operations while preventing creditors from seizing its assets.
According to court documents, Warren Marcus ran into cash-flow problems last year, in part because of rental issues and also because of higher energy costs. via mlive.com.
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
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By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
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