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Colorado Evictions Pick Up, But The Long-Feared Tsunami Hasn’t Hit Yet

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More Coloradans faced eviction after unemployment checks shrank and bans on eviction expired, but a long-feared tsunami of court cases hasn’t hit the state so far.

The state courts accepted filings for more than 1,200 removals throughout July, and nearly 300 more in the first week of August.

That was a sharp acceleration from the earlier months of the pandemic when the courts were all but frozen. Still, it’s far short of the state’s typical evictions activity, and it indicates that relatively few landlords moved toward immediate eviction as initial protections expired.

The Colorado Apartment Association argues that the low numbers are a sign of success.

“While evictions may creep closer to normal rates in August, the number of evictions is far, far below Colorado’s averages, and we attribute this to the way the community has stepped forward to help renters,” said Mark Williams, executive vice president for the organization, in a released statement. 

Surveys of large apartment operators have shown relatively few renters have stopped paying their bills altogether, and the apartment association said that there was “not a crisis.” Emergency government housing funds and unemployment benefits may have blunted the edge of evictions up til now.

“We’ve been really fortunate over these last several months to see the stimulus that was put in place … really work I think the way they were intended and help people make their basic needs, including their rent payments,” said Tony Julianelle, president of Atlas Real Estate, which manages thousands of apartment units on the Front Range.

Still, he said, a sharp reduction in unemployment benefits could push more renters to the edge. The $600-a-week federal supplement expired in late July, and the $300-a-week replacement may not arrive for weeks more.

September “is definitely going to be the stress test, if you will, without the level of support we’ve had for the last few months.”

Read the full article on CPR 

Tony Julianelle Atlas Real Estate Denver CEO

Homeownership hit a 12-year high during COVID — or did it?

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Tony Julianelle is quoted in The Mortgage Reports. 

Homeownership is at its highest level in 12 years.

At least, that’s what a new report from the Census Bureau says.

Some experts doubt the data. Since the pandemic affected the survey, homeownership numbers might not be as high as they look.

But one thing seems clear: Home buying hasn’t gone away during coronavirus.

In fact, Americans are buying homes about as fast as they can be listed — even as the economy has stalled.

How is that possible? And what happens next? We asked the experts.

Read the full article on The Mortgage Reports 

Nick Mertens Atlas Real Estate VP of Property Management

Atlas VP of Property Management Nick Mertens Provides Insight on Evictions

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If you know you’re going to be evicted, it can be beneficial to move before the formal process begins.

“It makes it really hard to rent again if you have an eviction on your record,” Nick Mertens says. If you’re behind on payments and know you can’t catch up, a better option may be to strike a deal with the landlord or property management firm. They may be willing to drop the eviction proceedings if you agree to move out voluntarily and leave the unit in good condition.

However, if a formal eviction does take place, the best way to find housing later is to be honest about your previous situation. Most landlords will discover the eviction when conducting their background checks so it’s best to share that information before they find it themselves.

Read the full article on U.S. News & World Report 
Denverite

Tony Julianelle quoted in Denverite

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Renters are worried a pandemic-caused eviction crisis is about to hit Colorado
A statewide ban on evictions has expired, and an order giving tenants more time to pay the rent is running out.

Tony Julianelle, whose Atlas Real Estate manages properties for landlords in Colorado and Arizona, advocated against eviction relief efforts at the Capitol. Atlas’s CEO said he was troubled by the length of the moratorium — which would have lasted until October — that legislators had proposed. He was also troubled at the idea of denying property owners the legal recourse of eviction when the terms of the lease, a legal contract, are broken.

“It is going to be important at some point to post notices and move residents out of properties that can’t pay,” he said. “The contract isn’t canceled. The rent is still due. And that accrual of debt can be very difficult for some people.”

Julianelle said tenants who can’t pay the rent can take such steps as moving in with a friend or back home with parents. Many of his clients are landlords with two units or fewer who depend on rent for income and to pay mortgages.

“These aren’t wealthy people positioning their assets,” he said.

Amid the coronavirus economic slowdown, some property owners have waived rent or worked out payment plans. Atlas hired an employee charged with helping tenants file for unemployment or find rent relief programs, Julianelle said. He portrayed evictions as a last resort.

“An eviction is a horrible reality,” he said. “No one wins in an eviction. The owner is not winning. The resident is not winning.”

Read the full article in Denverite 

The Denver Post

Tony Julianelle quoted in Denver Post article on Colorado’s Eviction Moratorium

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“Eviction is a last and final solution in cases where someone has become unresponsive and uncooperative,” said Tony Julianelle, CEO of Atlas Real Estate, a property management and brokerage firm in Denver. “It is a traumatic experience for everyone involved and something we will do everything in our power to avoid.”

Julianelle said Atlas has a person dedicated to helping tenants find sources of income or obtain rental assistance. They will even sit down and help them craft a budget and work out a repayment plan. Once they received stimulus payments and obtained the full range of unemployment benefits, many renters were able to get back on track.

Read full Denver Post article

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Denver Post Real Estate Ryan Boykin

Co-founder Ryan Boykin Provides Insight on Metro Denver Rental Market

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Metro Denver apartment rents were on the rise before the pandemic

Click here for the full article in The Denver Post

For the last several years, property managers have focused on recruiting tenants to fill empty new apartments or homes. For the past month, they have focused on reaching out to tenants and setting up payment plans for those who have lost income. Next month and in the months to follow, they will likely focus on trying to keep units and homes from going empty.

“We are trying to protect against vacancies,” said Ryan Boykin, co-founder of Denver-based Atlas Real Estate, which provides property management and brokerage services, on a webinar last week. “I’m very curious about what May looks like.“

Erika Ojeda-Louvier Atlas Real Estate Denver Colorado

Atlas Real Estate Bolsters Community-Oriented Initiatives To Combat COVID-19 Impacts

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To address the pandemic’s adverse effect on the real estate community, the firm has launched an educational webinar series and created a Resident Resource Manager role.

DENVER, April 20, 2020—Atlas Real Estate, a full-service real estate company specializing in investment brokerage, property management and institutional acquisition, today announces the launch of its webinar series every other Friday starting on April 24, and a new Resident Resource Manager role to guide the communities it serves through these unprecedented times.

In an ongoing effort to cultivate strong community, the Atlas team is actively monitoring public health and government agency recommendations, finding resources to support residents, owners and community members. With this goal in mind, Atlas has promoted Erika Ojeda-Louvier to a newly-created role, Resident Resource Manager (RRM).

As RRM, Erika strives to increase understanding and access to resources for community members during the COVID-19 pandemic. She also helps residents identify the benefits they qualify for, apply for those benefits and utilize them as effectively as possible.

Erika works diligently to minimize the impact of COVID-19 for industry stakeholders and provide resources and guidance for residents. Together, Erika and the Atlas team have developed a strategic action plan to ensure all community members have access to as many resources as possible.

“As an abundance-minded company, we crafted this role for someone who has the caliber of talent and passion that perfectly aligns with our values-driven culture,” said Tony Julianelle, Atlas CEO. “By lending a virtual helping hand, Erika will guide community members to necessary resources, achieving the highest positive outcomes for the residents we serve.”

Community members can schedule virtual meetings with Erika, who is also fluent Spanish, to discuss possible resources such as unemployment filings, stimulus packages and local aid. In times of hardship, the Atlas team comes together to create synergies with community partners and residents.

To coincide with Atlas’ steadfast mission to support, guide and inspire the communities it serves, the executive leadership team has launched a webinar series for owners and community members to tune in and get the latest market updates.

Every other Friday morning, Atlas thought leaders Tony Julianelle and Ryan Boykin will share insights on numerous topics ranging from how to navigate the real estate market amid uncertainty to short and long-term investment strategies. These webinars aim to inform and connect community members without ever having to leave their homes.

The next webinar is scheduled for Friday, April 24 at 9:00am MT. Owners and community members interested in joining the conversation can register here.

“There is a lot of uncertainty in the world right now and the best way to add value is by sharing what we know,” said Ryan Boykin, Atlas Co-founder and Partner. “We hope our efforts help move the needle toward rebuilding and strengthening the community we love and serve.”

About Atlas Real Estate: Atlas is a distinctly different real estate company specializing in: Investment; Property Management; Institutional Acquisition; a full-service Buy/Sell Brokerage; and a Zillow Offers Partner Agent. Serving Colorado, Arizona and Nevada, the group transacts more than $1 billion in real estate annually and manages more than 3,200 residential units. 

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Denver Business Journal Logo

Atlas Team Comments on Protecting Investments and Renters During Triage Mode

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The Coronavirus pandemic has created a situation that no one could have predicted. As we approach the first of the month when rents come due, unemployment applications are skyrocketing as many businesses have been forced to close their doors and entire industries to grind to a near halt. Meanwhile, landlords must manage the concerns of their tenants while simultaneously ensuring they can cover their own mortgages.

Nick Mertens, vice president of property management for Atlas Real Estate, which manages roughly 3,200 units across Colorado and Arizona, said the company hasn’t had many people call in yet saying they won’t be able to pay rent. For the ones that do, the company is sending links to resources and trying to deal with each resident on a case-by-case basis.

“We’ve been impressed with organizations such as FirstBank who have already said they will look at deferring a month’s payment for multiple types of loans,” Atlas CEO Tony Julianelle said. “It’s also important to remember that it’s never to a lender’s advantage to take back a property or end up in foreclosure. It’s an expensive process.”

See the full article

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