Word: hre
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Harvard Real Estate (HRE) has filed with the Cambridge Rent Control Board to raise the rents on 169 apartments in Harvard Square one year after the board cut those rents deeply in a city-wide assessment of landlords' costs...
...HRE president Sally H. Zeckhauser claimed that the rent cuts were done by a formula which did not take into account the real operating costs of the three buildings, which house all 169 units. "We are hoping to recoup all of that, plus some," said Zeckhauser...
Last year's general assessment cut rents at 9-13A Ware St. and 472-474 Broadway by 15 percent and cut rents at 18-20 Ware St. by four percent. HRE has already filed for rent increases at the three buildings. In addition to the increases to cover day-to-day operating costs, HRE has filed for a 15 percent raise in rents on 472-474 Broadway to cover long-term capital costs...
...assessment, several local landlords took the rent control board to court in an attempt to force the board to alter the formula. The Cambridge District Court upheld the formula, which does not affect the right of landlords to seek increases based on each property's real operating cost. HRE, which did not participate in the lawsuit, is expected to win its rent increases if it proves that the three buildings' real operating costs are greater than the assessed costs...
Harvard Real Estate (HRE), which manages theproperty, pays between a 17 and 20 percent tax onapartments and commercial holdings. "TheUniversity has an agreement with Cambridge wherethe city takes some of our gross revenues," saidSheldon G. Tandler, treasurer of HRE...