Housing and Urban Development (HUD) Secretary Shaun Donovan and HUD Northwest Regional Administrator Mary McBride recently announced the renewal of $636,640 to the Downtown Emergency Service Center under HUD's Housing Opportunities for People with AIDS (HOPWA). The Center's three-year renewal award was part of a national announcement providing $32.3 million in HOPWA funds to 30 projects in 20 states.
The number of U.S. housing markets on the mend rose by five to a total of 263 in June, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today. The list includes entrants from 49 states and the District of Columbia.
Would you like an easy way to track the performance of your property management SuperStars? Will a large on-site activity board really make a difference? You bet! This article will give you three easy ways to improve the performance of the properties you manage because what you see is what you get!
Setting up your on-site
Moving to a new house, condo, or apartment this spring? Before filling your home with furnishings, there's something you might want to do first: paint. Experts of every stripe - from realtors to authorities on painting -- say that one of the very best times to do interior painting is just before moving into a new home. Here are six reasons why, according to Debbie Zimmer, paint and color expert for the Paint Quality Institute:
The guide to successfully turning units
City Leads by Example by Reporting Building Energy Use
The On-Site is published monthly in conjunction with IREM, Washington Apartment Association and Washington Multifamily Housing Association. Delivering industry news and trends to landlords, property managers, apartment owners, multifamily executives and other real estate professionals, The Landlord Times is the business journal for the Puget Sound rental housing industry.
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Springfield has a number of noteworthy transactions for the years of 2009, 2010, 2011, 2012 and 2013. The market correction that occurred in 2008 and 2009 had a significant impact on the number of transactions and the availability of financing for apartment acquisitions. However the demand for multifamily properties has been high as the failure of the housing market has driven demand for apartments as a viable choice for housing. Decreasing vacancy factors, increasing rents and high tenant demand has made apartments a preferred investment property.
The nation's largest mortgage servicers have distributed $1,168,242,476 in direct relief to 15,508 distressed homeowners in Washington state or about $75,332 per homeowner as part of the National Mortgage Servicing Settlement according to an update released today by Joseph A. Smith, the Settlement administrator.
What’s the best way to handle move in, move out and billing efficiently?
A: Portland General Electric has several suggestions to make all of these processes easier for multifamily property managers and owners.
Move-in/move-out account transfers
You should contact PGE five business days before a tenant’s move date, so we can record account and meter information. There are two ways to contact us with this time-sensitive information:
The most common competency listed for virtually all job descriptions is good communication. A new white paper just published by the Institute of Real Estate Management (IREM®), explores just what it takes for real estate managers and practitioners in other fields to become effective communicators, and therefore better leaders.
Today property management is a different industry than it was 20 years ago, much different. As managers progress technologically so do their clients. These clients want 24/7 access to their property data and expect constant communication. Managers who are accountable, flexible and work to integrate new technology into their process are poised for immediate and future success
As market conditions change, many leasing consultants are eager to use rent concessions and other incentives to entice people to rent at their communities. Yet even when there are few vacancies, it’s hard to break the habit of readily promoting a “bargain,” rather than the value received for the price. The following concern was recently brought to my attention by a property management company:
Following the strongest cement consumption gains in seven years in 2012, cement consumption growth will continue in 2013 with a 6.2 percent increase. According to the latest forecast from the Portland Cement Association (PCA), the majority of market recovery will occur in the second half of 2013.
"Recessions correct imbalances generated during boom periods," Ed Sullivan , PCA chief economist said. "Few economists doubt the generation of a large pent-up demand during the past several years. The question is, when the economy will unleash its potential for strong growth?"
Highlighting the economic strength of the apartment industry in front of Congress, Tom Bozzuto, Chairman and CEO of the Bozzuto Group, represented the National Multi Housing Council (NMHC) and the National Apartment Association (NAA) before a House Energy and Commerce Subcommittee recently.
In addition to rent, property managers must also often collect other damages from their residents. Physical damages to the property can be such things as broken doors or windows, carpet covered with stains, or markings on the apartment walls. Additionally, there can be rent owed for the balance of the contract and lease break fees. Of course, the owner/manager must always try to mitigate or reduce their damages by using reasonable efforts to re-rent the apartment and to repair instead of replace items if possible.
Can’t attend the 2013 NAA Education Conference & Exposition in San Diego, or are going to miss a great session? Don’t despair—you still can enjoy the best education sessions in the apartment industry, including video!
NAA and NMHC unveiled a new integrated campaign targeting policymakers on May 6.
Titled “Apartments. We Live Here,” the campaign utilizes print, radio and digital ads, direct mail and an informational storytelling website experience. It highlights the 35 million apartment residents building their lives and the $1.1 trillion economic contribution the industry and its residents add to the economy each year.