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Charles Blumenkehl of Blue Asset Management LLC Sees Demand for Residential Rentals Increasing

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Charles Blumenkehl of Blue Asset Management LLC Sees Demand for Residential Rentals Increasing Powered By Docstoc
					Charles Blumenkehl of Blue Asset Management LLC Sees Demand for
Residential Rentals Increasing

Charles Blumenkehl, managing partner for Blue Asset Management LLC says his company is seeing
more demand for residential rental properties and believes this trend will dramatically increase in
the next few years.

Wayne, NJ, January 19, 2011 --(PR.com)-- While sales and rental markets have softened these last two
years according to the National Association of Realtors, Charles Blumenkehl, managing partner of Blue
Asset Management LLC and CEO of Blumenkehl Properties, managers of investment properties
throughout New Jersey, says his company is seeing more demand for residential rental properties and
believes this trend will dramatically increase in the next few years.

Blumenkehl points to statistics released by the National Association of Home Builders at the International
Builders Show, which had only 114,000 multi-family homes started in 2010, which the Association states
is less than the number of multi family homes removed from the market during the same period. NAHB
further stated that while they anticipate another 133,000 multi family units will be started in 2011, they
too predict that number will be far less than the expected demand.

According to Blumenkehl, “With a large part of the population reaching rental age, combined with the
number of home share and live at home arrangements already in place due to the economic contraction of
the last few years, the demand for rental housing is becoming greater as the country moves toward
economic recovery.” Blumenkehl, whose properties have a 96% occupancy rate in New Jersey at current,
continued, “Rents have already began climbing in some of our markets, and a shortage of new
multifamily units coupled with a rise in prime renter-age households will give landlords clout they haven't
seen since we emerged from the last housing recession in the mid-1990s.”

Blumenkehl Properties and Blue Asset Management LLC are managers and buyers of performing and
non-performing mortgages and distressed and investment properties in New Jersey. For more information
about Blue Asset Management or Charles Blumenkehl, log onto the company website at
www.blueassetmanagementllc.com

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Contact Information:
Blue Asset Management LLC
Charles Blumenkehl
973 835 1400
cblue@bluerealty.com
blueassetmanagementllc.com


Online Version of Press Release:
You can read the online version of this press release at: http://www.pr.com/press-release/291334




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Description: Charles Blumenkehl, managing partner for Blue Asset Management LLC says his company is seeing more demand for residential rental properties and believes this trend will dramatically increase in the next few years.
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