This week in property management: It turns out bed bugs are more resilient than we thought; U.S.-based affordable housing providers invests in the U.K.; Georgia condo owners get slammed with a $130,000 water bill; a Brooklyn court indicts a bookkeeper after she steals $750k from a property management company; and Long Island reports it could be facing a multi-family housing shortage in the next few years.
Bed bugs may be every tenant’s nightmare, but they’re a scientist’s dream. New York City scientists recently undertook a study of the nasty little mattress dwellers and uncovered some fascinating information about their genes, and their resiliency. Who knows, maybe this means a new bed bug repellant is on its way?
The United Kingdom has reinvigorated efforts to provide affordable housing to residents, supported by companies like Pocket, which provide efficient, modern homes for first-time buyers and renters. This week, U.S.-based Related Cos. invested in the company with a 50% stake.
When the property management company doesn’t pay the bills, who pays the price? At the DeKalb County condo community in Georgia, the owners are paying a $130,000 bill. If they can’t pay, they’ll be forced to move.
Over 4 years, Brooklyn-based bookkeeper Jennifer De Coteau Ulanov stole at least $755,000 from her boss to pay off mortgages on other properties in Syracuse. A Brooklyn judge hit her with a 34-count indictment for her actions.
A recent Long Island Index report says that the community could see 158,000 more households within the next 15 years. The problem? There’s only enough room in the current housing development plan for another 90,000 homes.Read more on Property Management Trends