A conversation with Brett Kaufman - Business First of Columbus:

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investing and financing multifamily communities around the The 34-year-old is a native of Columbus. He holds a bachelor’ss degree in regional development fromthe . How has the recessio n affected apartments? The rental market will be stronh for the foreseeable future regardless ofthe recession. Residents conside r apartment livinga smart, viable optionj equal to home ownership. Are Central Ohio renters paying morethis year? Apartment communities are largely driven by the same fundamentalsz of good real estate: location, quality high-end service and management. Communities that are payinfg attention to these critical components will always have an opportunity toincrease rents.
Nationa l forecasts indicate apartment demand will be robust for the next 10 Can you forecast the apartment construction landscape for the restof 2009? Construction starts will continue to be up as largedr demand for rental housing continues, land pricews become reasonable and municipalities begin to welcome quality community development. This may be one of the strongest for-rent markets we have seen in because the tightened lending environmengt is impacting developers – and home How is the credit market affectinyg developers? The markets have tightenedr and will probably limit the amountf of development that gets done.
However, lendersd have to lend to stay in businesd and I think they understand the appeal of rentakl communitiesin today’s market. Why rent and not own? In the people were so quick to buy largely baseds on the myth that owning was a wiser In fact, for many people, especially people who are not sure they want to own in one locationb long term, renting was, is and will be the smarter Some big advantages to renting include a no-maintenance lifestyle, no real estats taxes, and no house to sell in the event of job relocation. Are landlordzs reluctant to accept renters who have experienceda foreclosure?
They should look at the applicant’s total histort and understand that people, not just purchased homes they eventually could not maybe because of loans with fluctuating rates, loss of jobs and otherd life changes. Being lured into a home purchase that turnec out to be too good to betrue doesn’rt automatically discount them as responsible renters. You’ve announcede a new apartment “tour” eveny for the public – what is the vision for this?
The first ever Apartments Alive Rentap Tour will be held June Our members and sponsors will display the quality and range of choices available across Centralp Ohio with the We hope this will give prospective residents the opportunity to get a comprehensived look at what Columbus offers by showcasintg a variety of apartment The tour will bring the industry together to tour approximately 90 communities overa 10- day (More information about the tour can be found at caahq.com.
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