Washington

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Tue
17
Feb
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Dupre & Scott Video Report: NEGOTIATING? THINK “LET IT BLEED”

According to the two finest philosophers of the past 100 years, when you are negotiating to buy an apartment building you have to decide on one of two strategies. The philosophers, Jagger & Richards in their 1968 treatise, “Let it Bleed”, identified the “Get what you want strategy” and suggested an alternate “Get what you need strategy.” Let’s start with the “get what you want” strategy.

Tue
17
Feb
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Landlady Katie: Spring Maintenance Checklist

In spring, focus on freshening up your rental property and protecting the dwelling against the season's strong winds and rains. Use this time of the year to thoroughly clean and care for the home's interior.

Outdoor Tasks:

__Clean gutters and downspouts.
__Inspect roof and chimney for cracks and damage.
__Wash the exterior of all windows.
__Install missing screens on windows and doors. Repair as needed.
__Fertilize the lawn.
__Check decks for loose boards, railings, or stairs.
__Professionally service heating and cooling units.
__Check the foundation for cracking as well as for insect damage.
__Remove foundation vent covers and spigot covers.

Indoor Tasks:

Sun
08
Feb
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Winter Worries: Roofs & Mold

It’s that lovely time of year -- rain, heavy winds, sleet, and snow are heading our way! Are your properties Winter ready?

Moss, debris, and overflowing gutters can cause leaks, flooding, and frustration for both the landlord and the tenant. I encourage you to be proactive this year and have the inspections done now, prior to an emergency. Even just a visual inspection can help. Look to see if anything looks out of place; missing shingles, roof debris, overhanging tree limbs (and dogs) can all pose potential problems in the winter. Ongoing preventative maintenance will save you time and money, and increase your roof life.

Emergency repairs are just that, an urgent call to your vendor for service. As you might imagine, you won’t be the only client calling, and even if it’s a vendor you consistently use, they will need to deal with every request as quickly as possible.

Sun
08
Feb
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Pierce-Kitsap-Thurston Rents up 4.8% in 2014

Seattle - Apartment Insights 4th quarter results show rents increased 4.8% in 2014 . The vacancy rate declined to 4.51%, according to Tom Cain of Apartment Insights. The data are from his Seattle firm’s nonrandom survey on 50+ unit properties in Pierce, Kitsap and Thurston counties.

VACANCY: 4.51%

The market vacancy for our nonrandom survey of conventional, stabilized 50+ unit properties in all three counties is 4.51%, down from 4.91% in the third quarter. The vacancy rate was 4.89% a year ago.

The rate for all properties including those in lease-up is 4.99%. The last time this overall vacancy rate was below 5% was in 2008.

Pierce: 4.59%

The current vacancy rate in Pierce County improved to 4.59% from 5.17% last quarter. The rate was 4.92% a year ago.

Sun
08
Feb
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Dupre & Scott Video Report: MORE PEOPLE… GOOD OR BAD?

We take a look at migration trends every month. They are important to our region's housing market so it pays for investors to keep tabs on what's happening. And month after month we have been reporting better news than the month before. You have to start wondering when the good news will stop. Well, maybe this is the month. There is good news. A lot of it. But we’ve found some bad news too. First, let’s look at the good news

Tue
27
Jan
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Dupre & Scott Video Report: IS DEFLATION PATRIOTIC?

A lot of investors are bullish on our region's apartment market. Others are worried that new development will increase vacancies and lower rents and values. The key is for investors to look at all of the inflationary and deflationary trends in the market, not just the one thing they might be fixated on today. It's like the Patriots letting air out of footballs. Let's take a look.

Wed
21
Jan
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On-Site (Seattle / Puget Sound) Rental Housing Journal - January 2015

On-Site Rental Housing Journal is published monthly for multifamily real estate investors, apartment owners, property managers, landlords and other real estate professionals . RHJ is the business journal for the rental housing industry.

Fri
09
Jan
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Dupre & Scott Video Report: RECORD SALES?

RECORD SALES? Yes, vinyl is popular again, but we don't mean that type of record sales. What we mean is apartment sales activity broke a couple of records in 2014. Sales volume reached an all-time high. So did prices. These are definitely bullish indicators. But that's it for the records. Other indicators aren't so bullish. They're not bad. They just aren't in record-setting territory. Let's take a look

Fri
26
Dec
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Our Apologies to Washington Rental Owners Association

In the December 2014 Edition of On-Site, Rental Housing Journal staff erroneously included an outdated advertisement for Washington Apartment Association (now Washington Rental Owners Association). We sincerely apologize to WROA staff, members and our readers for any confusion, embarrassment or other issues this may have caused. We view WROA as an invaluable resource and organization in the industry, and wish them well as they head into an exciting 2015.

The following is the message that should’ve been included in December On-Site:

Washington Rental Owners Association (WROA), formerly know as Washington Apartment Association (WAA), wants YOU to join US and here is why!

Fri
26
Dec
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Seattle: Market Slows, But Rents Up $100 in 2014.

Seattle - The latest Apartment Insights survey shows rents falling $5 per month per unit and vacancy rising to 4.55%. Yet rents increased $100 or 8.24% in 2014 according to Tom Cain of Apartment Insights. The data are from his Seattle firm’s 4th quarter statistics and trends on 50+ unit properties in the King/Snohomish market.

VACANCY: 4.55%

The vacancy rate for our nonrandom survey of conventional, stabilized 50+ unit properties in the King/Snohomish market is 4.55%. This is up slightly from last quarter's 4.30%. It was 4.63% a year ago.

The overall vacancy rate which includes properties in lease-up increased from 5.86% to 6.44%. King has a vacancy rate of 4.47% and Snohomish County is at 4.83%. The softening in the market took place in King County, since the vacancy rate in Snohomish was identical to last quarter.

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