Apartment rents are continuing their steady climb, as the growing demand for residential rental space keeps pushing up prices. The average monthly apartment rent in the U.S. was $1,048 in the last quarter of 2012. That’s an increase of 3.8% over a year earlier, according to research firm Reis, Inc., The year-over-year increase is the largest since 2007. A number of large communities saw year-over-year increases of more than 5% last year, including Seattle, San Francisco,

The number of people who rent a home or condo while on vacation – instead of a hotel or motel room – is skyrocketing. This can be a great thing for a vacationer, who may get a lot more space and convenience at the same or lower cost. But it’s not necessarily a great thing for neighbors, particularly if several homes in a neighborhood are rented on a frequent basis. On a quiet residential street, short-term

A federal government agency has issued new rules for home mortgages that will rewrite the way that banks decide who gets a home loan. The rules are designed to prevent a replay of the housing crisis that resulted from a flood of easy-money loans a few years ago. However, the new rules could have the effect of tightening the availability of mortgages, at a time when banks are already being extremely strict about granting loans. Under

Average rents for apartments, offices and retail space are continuing their upswing, but the rate of increase is flat or slowing down. The average apartment rent in the U.S. in the third quarter was $1,090, according to research firm Reis, Inc. That’s an increase of 0.8%, down from 1.1% in the previous quarter. The apartment vacancy rate was 4.6%, down from 4.7% in the second quarter. That’s a big drop from the roughly 8% rate in

New federal rules will make it easier and quicker for homeowners to qualify for a “short sale” of their property. A “short sale” occurs when a home is worth less than the amount owed on the mortgage. The lender agrees to accept less than the full amount of the loan, and the owner is able to escape the mortgage debt and avoid foreclosure. In the past, short sales have often bogged down in delays and cumbersome

A new 3.8% tax on investment income will take effect in 2013, and will affect many people who have rental income or who sell real estate. The tax was included as part of President Obama’s health care law. It applies to single filers with adjusted gross income over $200,000 and married filers with adjusted gross income over $250,000. (It also applies to trusts and estates with undistributed investment income of more than about $12,000.) The IRS

Mortgage rates have been at historic lows, but a lot of people still have trouble getting a mortgage because the lender makes them jump through hoop after hoop after hoop. What most people don’t know is that a big reason this is happening is something called “put-backs.” About 90% of the home mortgage loans in the U.S. are sold by the lender to federal agencies or to government-sponsored companies, chiefly Fannie Mae and Freddie Mac. These

Before the financial crash, the conventional wisdom was that it was almost always better to own a home rather than rent. It seemed like home prices always went up, so there was no reason to pay a landlord if you could pay a mortgage lender instead and build up equity every month. Since the crash, however, home price gains are more uncertain, and many people are crunching the numbers and concluding that they’re better off renting.

Most of the time, when an apartment is rented, the tenant pays a security deposit that can be applied if he or she damages the property. Usually, unless the lease says otherwise, the tenant is liable only for damage to the property…not for ordinary wear and tear. The landlord is typically supposed to maintain the property and perform routine upkeep. Security deposits are normally a small matter, but in some cases, tenant damage can be a

A Nebraska couple put down a $45,000 deposit on an $885,000 home, and signed an agreement saying the purchase was contingent on the couple’s being able to get a mortgage for the remaining $840,000. Sometime later, the couple told the builder that they weren’t going to apply for a mortgage and weren’t going to go through with the deal. The builder refused to return the $45,000 deposit, and the case went to court. The result? The