On July 10, the Orem City Council voted unanimously to lift the city’s ban on accessory apartments. The ban had been in effect since 2003. It prohibited homeowners from renting any part of their house out for profit (i.e. the basement).

Social media is the most prevalent channel of communication among Generation Y but is not the initial way to attract the target audience most property management firms are aiming to please. Marketing is the multi-step process that is fundamental in keeping your properties at the top in such a competitive market. It has become more and more difficult to stand out in the swarm of traffic on Craigslist and what seems to be a disarray of Google searches available to individuals seeking a comforting place to call home with accessibility and excitement within reach.

Gross possible rents for three of the four conventional rental apartments examined (elevator; low-rise with 12 to 24 units; and garden) rose within a range of 0.2 percent to 8.3 percent in 2011 versus 2010, whereas those for low-rise buildings with 25-plus units dipped a mere 1.5 percent. Net Operating Income (NOI) for the three apartment types for which data was available rose between 2.9 and 7.5 percent from the prior year.

The Multifamily Applicant Risk Index (MAR Index) Report indicates an increase in national renter credit quality and applicant pool quality for the second quarter 2012 and now includes renter trends. The second quarter 2012 MAR Index value increased six points from the first quarter 2012 and three points from a year ago.

Here is how Seattle-Tacoma-Bellevue, WA performed in the second quarter compared to last year:
• Seattle-Tacoma-Bellevue, WA: 2Q12 MAR Index = 127
• Seattle-Tacoma-Bellevue, WA: 2Q11 MAR Index = 125

Though still increasing, effective rent growth reflects recent weak job growth reports; wave of
new apartment units also hitting market

Despite employment training and other programs, many veterans face housing affordability challenges

All Property Management’s Nationwide Survey Shows Return on Investment With Professional Management of Rental Properties

Successful investment in rental properties often depends on keeping vacancy rates low, both by minimizing tenant turnover and by quickly re-renting properties when tenants do depart. According to a recent survey conducted by All Property Management, the largest network of property management companies on the internet, professional property managers can help investors substantially on both counts.

The Multifamily Applicant Risk Index (MAR Index) Report indicates an increase in national renter credit quality and applicant pool quality for the second quarter 2012 and now includes renter trends. The second quarter 2012 MAR Index value increased six points from the first quarter 2012 and three points from a year ago.
Here is how Portland-Vancouver-Beaverton, OR-WA performed in the second quarter compared to last year:
• Portland-Vancouver-Beaverton, OR-WA: 2Q12 MAR Index = 115
• Portland-Vancouver-Beaverton, OR-WA: 2Q11 MAR Index = 114

For the sixth quarter in a row, the apartment industry improved across all indexes in the National Multi Housing Council’s (NMHC) Quarterly Survey of Apartment Market Conditions. The survey’s indexes measuring Market Tightness (76), Sales Volume (54), Equity Financing (58) and Debt Financing (77) all measured at 50 or higher, indicating growth from the previous quarter.

Student housing research proves that service, security, and well-apportioned apartments trump razzle-dazzle amenities