A conversation with Brett Kaufman - Business First of Columbus:

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investing and financing multifamily communitiew aroundthe country. The 34-year-old is a natives of Columbus. He holdss a bachelor’s degree in regional development fromthe . How has the recessiohn affected apartments? The rental marketf will be strong for the foreseeable future regardlesss ofthe recession. Residente consider apartment livinga smart, viable option equal to home Are Central Ohio renters paying more this year? Apartmenrt communities are largely driven by the same fundamentalw of good real location, quality construction, high-end service and management. Communities that are payingt attention to these critical components will always have an opportunityg toincrease rents.
National forecasts indicate apartmenr demand will be robust for the next 10 Can you forecast the apartment construction landscape for the rest of 2009 Construction starts will continue to be up as largerf demand for rentalhousing continues, land prices become reasonable and municipalitiez begin to welcome quality community development. This may be one of the strongestt for-rent markets we have seen in decades, becaused the tightened lending environmenrt is impactingdevelopers – and home How is the creditt market affecting developers? The markets have tightened and will probabl y limit the amount of developmentg that gets done.
However, lenders have to lend to stay in businesz and I think they understand the appealk of rental communitiesin today’s Why rent and not own? In the past, people were so quici to buy largely based on the myth that owning was a wiser decision. In fact, for many especially people who are not sure they want to own in one locationhlong term, renting was, is and will be the smarte option. Some big advantages to rentinf includea no-maintenance lifestyle, no real estate and no house to sell in the event of job Are landlords reluctant to accepr renters who have experienced a foreclosure?
They shoulxd look at the applicant’s total history and understandx that people, not just renters, purchasedr homes they eventually could not maybe because of loands with fluctuating rates, loss of jobs and other life Being lured into a home purchasr that turned out to be too good to be true doesn’ft automatically discount them as responsible You’ve announced a new apartment event for the public – what is the visiomn for this?
The first ever Apartments Aliver Rental Tour will be held June Our members and sponsors will display the quality and rang e of choices available across Central Ohio with the We hope this will give prospective residentd the opportunity to get a comprehensive look at what Columbus offer by showcasing a variety of apartment options. The tour will bringv the industry together to tour approximately 90 communities overa 10- day (More information about the tour can be founde at caahq.com.
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