Huntsville Apartment Oversupply | Are there too many apartments in Huntsville? New report looks at the boom

Are there too many apartments in Huntsville? New report looks at the boom Huntsville’s apartment boom has led to an oversupply of units in the fast-growing metro area, according to a recent report. We got ahead of ourselves. ...“Huntsville is currently overbuilt with apartments, and until that excess supply is absorbed, we’re going to see a slowdown in new multifamily construction,” Realtor Matt Curtis added. “ We’re seeing the effects of oversupply — one to two months of free rent incentives, declining rents, and higher vacancy rates. That’s not a climate where developers are eager to build. ...“Occupancies are down, values are down, expenses are up,” Wilson said ” Reference: www.al.com
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Gov. Kay Ivey | The Alabama anti-squatting law will take effect June 1, 2024

Gov. Kay Ivey | The Alabama anti-squatting law will take effect June 1, 2024

House Bill 182, sponsored by Rep. Craig Lipscomb, to strengthen homeowners’ rights against squatters who illegally occupy their property.

“It has been said that a person’s home is their castle, yet after a national rise in illegal occupations of homeowner’s private property, it is apparent that more must be done to halt criminals from commandeering people’s homes,” said Governor Ivey.

The new law creates penalties for falsifying real estate documents and establishes a process, administered by local law enforcement, to quickly remove individuals who are occupying a dwelling without authorization.

“In Alabama, private property rights are paramount. This new law puts would-be squatters on notice that any attempt to hijack and take over someone’s home will be met with swift action by law enforcement. The best dwelling for an illegal squatter is a jail cell, and we in state government should never rest easy until all Alabama homeowners’ rights are fully protected.”

The anti-squatting law will take effect June 1, 2024.

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Reference: governor.alabama.gov

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