Raises Concerns About Reduced Government Involvement

The Poverty & Race Research Action Council (PRRAC) today applauded many of the recommendations of the Bipartisan Policy Center Housing Commission, which issued a report proposing a national housing policy that seeks to further the nation’s economic recovery and meet the housing needs of America’s most vulnerable households.

Have you been considering whether or not to build mobile websites for apartments you manage?
You can’t afford to wait any longer.

A major survey of 1,500 renters published a few months ago by Apartment Finder revealed that 40% of apartment hunters used a mobile device for their last apartment search. What really stood out was that 85% of those who did not use a mobile device this time around said they would consider using a mobile device in their next search.
This means that 91% of all apartment shoppers are likely to use mobile devices during the next apartment leasing cycle.

Default Risk Among Renters Decreased Year Over Year

By Nick Frantz,
One Call Now

don’t know a property manager who doesn’t grapple with parking issues. At best, they’re a hassle. At worst, they threaten resident safety, satisfaction and retention. They can even send you to court.
Towing may alienate a resident… but failure to act on a parking problem could alienate many residents. The best solution is a proactive approach that maximizes compliance and minimizes your need to have to make the tough decision. Here are seven tips to help ease parking woes on your property.

The CoreLogic® SafeRent® Renter Applicant Risk (RAR) Index Report, formerly known as the Multifamily Applicant Risk (MAR) Index Report, provides market-based benchmarks for evaluating credit quality and risk of default for renters applying for apartment homes in multifamily housing units. The index also includes data from single-family rentals. Using a mean of 100, an index value above 100 indicates decreased risk, and a value below 100 indicates increased risk.

The 2013 Utah legislative session is in progress. This year the legislature is considering several issues that dramatically affect our industry. The UAA Government Affairs staff has been hard at work advocating for and protecting our industry.

Demand for apartments has brought the developers back into the market. Albany and Corvallis have a number of new construction project either proposed or permitted for this coming year.
Albany has a vacancy factor under 5% and currently Corvallis is reporting “negative” vacancy with waiting list on many properties.
Albany Update
Albany currently has a 90-unit apartment complex permitted and ready for construction on 34th and Hill. There is a proposed 120 unit development in North Albany at North Albany Rd. and Hwy 20, near the North Albany Village retail center.

Builder confidence in the 55+ housing market for single-family homes showed continued improvement in the fourth quarter of 2012 compared to the same period a year ago, according to the National Association of Home Builders’ (NAHB) latest 55+ Housing Market Index (HMI) released today. The index increased 10 points to a level of 28, the fifth consecutive quarter of year over year improvements.

his month, WMFHA held their 3rd annual Emerald Awards celebration. The Emerald Awards gala is an industry event which allows our members to recognize the hard working and dedicated individuals who represent the multi-family industry so well. The best and brightest talent gathered to share a celebration of industry members who were nominated for award categories such as Community Manager of the Year, Maintenance Supervisor of the Year, Leasing Consultant of the Year, and many other categories.

Dear Maintenance Men:
I have a large brick patio with a number of flower containers on the brickwork. The gardener is not careful enough when he waters and this has resulted in some calcification of the bricks. I want to clean up the patio bricks and remove the calcium buildup with a solution that will not kill the grass surrounding the patio. Thanks for your advice.
Douglas

Dear Douglas:

What’s more to love than a cuddly bundle of joy who greets you every day after work? On the other end of the spectrum, what is worse than finding out one month after settling into the perfect apartment that your allergies don’t agree with the previous tenant’s pet?

After a seven-quarter run, expansion moderated for apartment markets according to the National Multi Housing Council’s (NMHC) January Quarterly Survey of Apartment Market Conditions. For the first time since 2010, two of the four indexes – Market Tightness (45) and Sales Volume (49) – dipped below 50, though just barely. The two financing indexes show continued improvement for the 8th consecutive quarter, as the Equity Financing (56) and Debt Financing (57) Indexes remained above the breakeven level of 50.

Seattle - Apartment Insights 4th quarter results show the Thurston County market rebounding a bit after a period of decline, according to Tom Cain of Apartment Insights. The data are from his Seattle firm’s statistics and trends on 50+ unit properties in Pierce, Kitsap and Thurston counties.

Pierce, Kitsap, Thurston 4Q12
VACANCY: 6.6%
The market vacancy for conventional, stabilized 50+ unit properties in all three counties is 6.6%, down slightly from 6.74% last quarter. The vacancy rate was 7.02% a year ago. The vacancy rate for all properties, including those in lease-up is 7.68%.

the news reporters keep reminding us, Congress returns to session in January and will be considering a long list of legislative priorities, including deficits, tax reform, and the reauthorization of the federal Violence Against Women Act (VAWA). For those who missed the notice, VAWA died last September and is on the agenda for a proposed resurrection this spring.

What is VAWA?

Generation Y, or Millennials, are those born in the mid-80s, and after. They have grown up in the digital age, love technology, and environmental awareness. There are about 70 million Generation Y renters that come with very specific wants and needs that you must know about if you want to start attracting them as tenants. Use these helpful tips to begin attracting Gen Y renters to your community today:

Get Connected

The market vacancy rate in the Puget Sound region is 3.8%. That's the lowest it has been since 2007. It doesn't get that low very often. In fact, it has been that low just three other times in the past 30 years. These are some of the findings of our just-completed survey of 20-unit and larger apartments in the Puget Sound region.

It’s just MOLD, clean it up…..  Maybe use bleach, that should be enough, right?  
Have you heard this, or heard this statement?  This is defiantly one of those “What were you thinking moments” 

News and information for landlords, apartment owners, property managers and real estate investors. The Landlord Times is the business journal for the multifamily and rental housing industry.

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Trends To Watch Brought to You By Dupre & Scott

Here are seven stories about apartment market and investment trends in the Puget Sound region. This is a summary of our presentation on Wednesday to the Rental Housing Association of Puget Sound at their annual Spring Workshop. Fasten your seatbelts. That presentation was 70 minutes, but we'll whisk you through the key points in this 8 minute video.