Land Lord: Calgary’s Mainstreet Equity gambles on Edmonton

On its own, it was a simple real estate transaction between buyer and seller. But the purchase of City Square Tower, a 28-storey residential building on 104 Avenue in downtown Edmonton, by Calgary’s Mainstreet Equity for $40 million in early June, wasn’t on its own. Instead, it was the culmination of a strategy that the company has been pursuing since 2007– one that saw it scoop up 77 properties containing 2,218 units in an area bounded by the airport lands to the north, Jasper Avenue to the south, 124 Street to the west and 97 Street to the east. And it’s about to pay off in a big, big way.

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Ohio landlord again accused of spanking

CLEVELAND – An Ohio landlord and businessman charged with assault after police suspected him of spanking a tenant who owed him rent money is now being sued in civil court for a similar accusation by a mentally disabled man.

Mark Neace filed a civil lawsuit in Warren County Common Pleas Courthouse earlier this week claiming Ronald Kronenberger, 53, punished him “with a belt and paddle” on four separate occasions.

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Landlord Accused of Endangering Tenants

A Queens landlord who authorities said had packed nearly 50 people in illegally converted apartments, some in garages and cellars, was charged with reckless endangerment and other crimes on Wednesday, reflecting a growing concern about the kind of overcrowded housing that has been cited in several fatal fires in recent years.

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Meet America’s New Landlords: REITs

Three years ago Aaron Edelheit was working out of his living room, buying foreclosed properties, and putting them up for rent. Today he is CEO of The American Home Real Estate Investment Trust, one of the first REITs investing only in single family rental homes.

“We think the foreclosure crisis has allowed a couple of firms such as ours to get size and scale to start institutionalizing a very large market,” said Edelheit.

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