Famous Faces
Celebrities are already offered a whole slew of freebies, from cosmetics to designer gowns. Why not discounted condos?
A growing number of developers are offering celebrities price cuts or sweet deals toward the purchase of a new luxury condo, according to The Wall Street Journal. Developers then tout their celebrity residents to attract buyers. Huge billboards for Las Olas River House in Fort Lauderdale, Fla., highlight the building’s VIP resident: former football superstar Dan Marino.
–Rachel Z. Azoff
At Your Service
Prompt maintenance and repair play a key role in resident satisfaction, according to a new survey from Owens Corning (a manufacturer of building materials). Seventy-one percent of multifamily residents feel that efficient, prompt, and reliable maintenance and repairs is an important factor in choosing a living space. Plus, 67 percent said that satisfaction with their homeowners’ association or property management company would improve significantly if they showed a commitment to meeting maintenance needs more effectively and efficiently.
–Rachel Z. Azoff
Top Five Repair Requests
- Painting
- Plumbing
- Recaulking and replacing tiles on sinks and tubs
- Mounting or repairing doors and cabinets
- Caulking and sealing doors and windows
Winter Worries
The dreaded winter utility bills are starting to arrive. Heating fuel costs are expected to rise 69 percent to 77 percent for natural gas in the Midwest; 17 percent to 18 percent for electricity in the South; 29 percent to 33 percent for heating oil in the Northeast; and 39 percent to 43 percent for propane in the Midwest.
Expected Energy Cost Increases
(October 2005 through March 2006)
- Petroleum + 34 percent
- Natural gas + 52 percent
- Coal + 16 percent
- Electricity + 11 percent
–Rachel Z. Azoff
Fans in the Stands
All eyes were on basketball star Ron Artest when he returned from his suspension after going into the stands in a game in Detroit last year. When a fan sitting courtside started to poke fun at Artest during his first game back, everyone wondered what the player would do. Instead of charging into the stands, Artest walked over and high-fived his heckler, according to The Indianapolis Star. Who was Artest’s new heckler? Jorge Perez, chairman of The Related Group of Florida in Coral Gables.
–Les Shaver
Indicted
When Jose Padilla was arrested in June 2004, the story made headlines in the multifamily industry: Padilla was accused of plotting to blow up apartment buildings. But when U.S. Attorney General Alberto R. Gonzales announced Padilla’s indictment in December 2005, there was no mention of apartments. Instead, Gonzales accused Padilla of “providing–and conspiring to provide–material support to terrorists and conspiring to murder individuals who are overseas.”
–Les Shaver