This is a Dallas news story, published by The American Prospect, that relates primarily to Cortland Management news.
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WindMass Capital PartnersThe American Prospect
•80% Informative
In 2021 , a Dallas -area real estate finfluencer made what was likely the quickest $50 million of his career selling the “Chronos portfolio” The economics of the transaction made no sense: Even at 95 percent occupancy, the five buildings were only generating 79 cents for every dollar in debt service they owed in early 2022 .
Since 2016 , rents have climbed 76 percent in Phoenix , 63 percent in Las Vegas , 80 percent in Atlanta .
Nearly $700 billion worth of multifamily properties changed hands in 2021 and 2022 .
Banks lent funds to investors looking to renovate apartment buildings in hot areas under the assumption that they’d be able to increase rents.
But Yieldstar proved landlords could grow their rental revenue without making any improvements whatsoever.
One client with 20 properties grew its revenue 21 percent in the first year it adopted the software.
RealPage controls the pricing of the vast preponderance of available apartments and rents have surged, despite vacancy rates hovering around 10 percent .
A former revenue officer at Cortland Management says leasing managers were expected to raise rents by at least $300 per year and were barred from offering discounts or concessions.
VR Score
79
Informative language
78
Neutral language
18
Article tone
semi-formal
Language
English
Language complexity
71
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
20
Source diversity
13
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