Thank You National Apartment Association. I will do my best to get this very important information out ASAP to numerous owners, investors, huge property management companies (e.g., Riverstone Residential), attorneys, and judges, AND, of course, to the MANY people who are currently living in MOLD-INFESTED APARTMENT COMPLEXES right now! katy
By Erika Schnitzer, Managing Editor
Concessions—which are on the upswing—are being used by at least 70 percent of apartment communities throughout the metro area, according to Craig Rooney, CPM, CCIM, executive vice president for Southern California and Las Vegas, Riverstone Residential, which manages about 2,000 units in the Las Vegas metro area.
“Low rent rates and low occupancy rates are [presenting] a lot of operational challenges because the income isn’t there, so [managers] need to adjust their pro forma,” LoBello notes.
As a result, throughout the market, property managers are becoming more of a “cash manager,” that is, they are working with their clients to prioritize the order of bill payments. “Clients that had purchased assets in the last couple of years are having a tough time holding on to them or getting them to cash flow. What everyone is trying to do is break even and hold on,” reports Rooney.
“There’s just no cash surplus,” he adds. “We are nickel and diming every expenditure.” In addition, some management companies are being forced to give back properties, as owners are unable to pay them for their fee management services
more – multihousingnews
Information about Riverstone Residential, the Louisiana Housing Finance Agency, and the owners of Jefferson Lakes Apartments in Baton Rouge, Louisiana allowing tenants to be exposed to extreme amounts of toxins from molds by intentionally concealing evidence
Irrefutable evidence indicates that Riverstone Residential, Guarantee Service Team of Professionals, & plaintiffs’ attorney, J Arthur Smith III, must have agreed to exclude evidence that would have shown the owners of Jefferson Lakes Apartments & Riverstone Residential had knowledge of the severe MOLD INFESTATION at the complex before we moved in
Political Action Committee – National Apartment Association (NAA) files Amicus Brief in mold case (two infant deaths in mold filled apt – Wasatch Prop Mgmt) citing US Chamber/ACOEM ‘litigation defense report’ to disclaim health effects of indoor mold & limit financial risk for industry
“Changes in construction methods have caused US buildings to become perfect petri dishes for mold and bacteria to flourish when water is added. Instead of warning the public and teaching physicians that the buildings were causing illness; in 2003 the US Chamber of Commerce Institute for Legal Reform, a think-tank, and a workers comp physician trade organization mass marketed an unscientific nonsequitor to the courts to disclaim the adverse health effects to stave off liability for financial stakeholders of moldy buildings. Although publicly exposed many times over the years, the deceit lingers in US courts to this very day.” Sharon Noonan Kramer