All Forum Posts by: Chris B.

Good evening,

I've been a Boston-area landlord over several years now, and in the past have never had any issues finding tenants all too eager to pay rents that have invariably increased from the preceding lease year.  However, this past summer, demand seems to have slowed, I've had fewer showings, and my rental agents tell me that the rental market in the Boston area has "changed" and they're not seeing the same level of demand.

Has this been the experience of other Boston landlords, or is something else at work that explains the decline in interest?

Hi, everyone. I'm a lawyer in the Boston area with more or less equal measures of experience in litigation and transactional law, both of which have occasionally verged into the real estate domain.  My litigation experience has touched on financing deals gone wrong, and the occasional landlord/tenant dispute, and my transactional work on behalf of myself and my own real estate investments has given me some experience with lease drafting and analysis of state landlord/tenant laws, such as warranties of habitability, security deposit regulations, and so on.

I'm focused on accumulating properties in the Boston, MA using Warren Buffett's mantra of "buy and hold."  In today's economic environment it's hard to find better-performing asset classes outside of real estate.  

Glad to be aboard.  Just to be clear, this is merely background about myself; I'm not advertising or soliciting requests for professional services.

On the subject of success stories, I acquired a multifamily home in the greater Boston area a few years ago.  Since then, my agent told me that property values in the area have appreciated over 20%!  This was welcome news.  Even if his opinion is overstated, it's hard to beat that kind of value appreciation in today's markets:  equities are overvalued, interest rates ensure fixed income investments don't yield much, and alternatives remain inaccessible to most investors due to investment minimums and securities law requirements like accreditation.

What's more, there has been a flurry of development throughout the Boston area, including in my neighborhood.  I hope that presages more appreciation to come.  Generally my rents have increased between $100-$200 per year, although this last time has proven a bit more difficult.

Well, that's my success story!  Best wishes to everyone else.