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Tue
11
Sep
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Seattle Company Buys Tessera At Orenco Station In Hillsboro For $85 Million

Seattle Company Buys Tessera At Orenco Station In Hillsboro For $85 Million

Seattle-based Security Properties and Pacific Life Insurance Company have purchased Tessera at Orenco Station, a 304-unit multifamily property built in 2014 in Hillsboro, Oregon for $85 million, according to a release.

 Security Properties now owns a total of eight assets in the Portland marketplace.

The acquisition was made because, "Hillsboro has excellent fundamentals with convenient access to high paying employers.  With the combination of walkable retail and a location adjacent to the light rail station, we feel Tessera is well positioned to be the top asset in the market once our value-add upgrades are complete," Davis Vaughn, Senior Director at Security Properties, said in the release.

Tessera is located within the outlying suburbs of the Portland Metropolitan Area. Hillsboro, is currently the state's fifth largest city with over 100,000 residents.

Tue
11
Sep
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Nevada Landlords Settle With HUD Over Sexual Discrimination Allegations

sexual discrimination

A single mother of six filed a sexual discrimination complaint alleging that the manager of her building sexually harassed her and created a hostile living environment, including unwanted touching and sexual comments, according to the release from the U.S. Department of Housing and Urban Development (HUD).

HUD has approved a Conciliation Agreement between Reno, Nevada-based CMS Property Services, LLC, and its property manager and a female tenant, resolving the allegations that the manager sexually harassed the woman. CMS owns and/or manages close to 80 units in the Reno-Sparks area. 

In addition, the woman alleged that CMS attempted to terminate her tenancy and failed to return a rent overpayment of $1,000 because she was unreceptive to the manager's advances.

Tue
11
Sep
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8 Exterior Upgrades For Your Rental Properties

8 Exterior Upgrades For Your Rental Properties

Which type of exterior upgrades for your rental properties will both stay within the budget as well as look new and bright to tenants?

The maintenance checkup this week provided by Keepe focuses on 8 exterior upgrades to consider.

 

Here are 8 exterior upgrades for your rental properties that will improve your property’s value and curb appeal

No. 1 – A deep wash

A deep cleaning of your rental property exteriors can significantly refresh your space. Give your property a good power wash; wash the windows, shutters and sliding. Don’t forget to power wash any stains off driveways, walkways and parking lot areas.

No. 2 – A basic clean up

 General tidying up can go a long way to make your rental housing shine. Mow the lawn and conceal trash cans and recycle bins out of sight from the general public to organize the space.

Tue
11
Sep
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Raccoon Attack Leads To Lawsuit Against Portland Apartment Complex

raccoon attack on tenant and apartment sued

A tenant in a Portland apartment complex has filed suit after she was bitten by a raccoon on the property while she was walking her dogs, according to reports.

The tenant, Heidi Schultz, filed suit Aug. 31 against Prime Wimbledon SPE, LLC, doing business as the Wimbledon Square and Gardens Apartments, according to Multnomah County Circuit Court records.

Earlier this year a jury has found the same Portland apartment complex failed to make proper repairs to a walkway and awarded $20 million to a man who fell through the walkway.

“I saw something fuzzy under one of the cars,” Schultz told OregonLive.com. “I thought it was a cat. The next thing I know, this thing is launching itself at me and wrapped around my leg.”

Tue
11
Sep
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Multifamily August Rents Show Another All-Time High

august rents set record in multifamily

The average U.S. multifamily rent rose $2 in August to $1,412, yet another all-time high, according to a survey of 127 markets by Yardi Matrix.

“The multifamily market … shows no signs of being at the end of its cycle,” the report says, noting that the monthly average was the seventh consecutive all-time high.

Wed
05
Sep
The Editors's picture

97 Percent Of Property Management Companies Have Experienced Fraud

property management suffers fraud

A new report from Forrester Consulting shows that in the last two years alone 97% of property management decision makers have experienced fraud in the properties they manage.

On top of that, 83 percent of property management companies have experienced fraud 20 times or more in the past two years, according to a release from TransUnion which commissioned the survey and interviews with 153 property management decision makers.

59 percent of rental applications now online opening up property management to potential fraud

“Property managers responsible for managing thousands of units, particularly in urban corridors, have moved the rental application process online to cater to customer preferences for digital interactions.

Tue
04
Sep
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The LGBT Community, Sex Discrimination And Fair Housing

fair housing and lgbt community

Discrimination based on nonconformity with gender stereotypes is covered by the Fair Housing Act, so this week the Grace Hill training tip takes a look at the LGBT community and Fair Housing.

By Ellen Clark

In recent years, the LGBT community has earned additional rights under the law in many different contexts.

 From same-sex marriage recognition to restroom access corresponding to a person’s gender identity, the law is constantly evolving.

 The Federal Fair Housing Act (FHA) does not specifically include sexual orientation and gender identity as protected classes. 

However, discrimination against a lesbian, gay, bisexual, or transgender person may be covered by the FHA if it is based on nonconformity with gender stereotypes.

Tue
28
Aug
The Editors's picture

Facebook Engaging In Housing Discrimination HUD Charges

The Grace Hill training tip of the week focuses on a Facebook housing discrimination charge by HUD and how Fair Housing Laws apply to social media posts and property management.

Facebook is violating the Fair Housing Act (FHA) by allowing landlords and home sellers to use its advertising platform to engage in housing discrimination, the U.S. Department of Housing and Urban Development (HUD) charges in a housing discrimination complaint.

“Facebook invites advertisers to express unlawful preferences by offering discriminatory options, allowing them to effectively limit housing options for these protected classes under the guise of ‘targeted advertising.’

“The alleged policies and practices of Facebook violate the Fair Housing Act based on race, color, religion, sex, familial status, national origin and disability,” the complaint states.

Mon
27
Aug
John Triplett's picture

7 Issues And Answers About Renting To Felons

7 issues and answers about renting to felons

7 issues and answers about renting to felons that landlords and property managers need to know now that Portland is considering placing rules on tenant screening.

By John Triplett

Rental Housing Journal

Are “no-felony-ever” lease clauses dead? We decided to ask this question of an expert in the field of investigations and tenant screenings to follow up all debate last year over whether landlords are required to rent to someone with a felony record.

David Pickron, owner of RentPerfect, an investigative screening company in Arizona, says the days of saying “no-felony-ever” are over for landlords unless the felony is a sex offense.

Tue
21
Aug
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Portland May Propose Tenant Screening Rules On Criminal History, Credit

The Portland City Council may be asked to make changes in current rules applying to tenant screening and criminal background checks, credit checks or financial stability, according to reports.

Willamette Week is reporting that City Commissioner Chloe Eudaly wants the council to look into creating new tenant screening rules involving criminal background checks and credit reports.

Under the proposed rules, landlords couldn't set a policy requiring tenants to have an income that is more than twice their monthly rent when the current industry practice is usual 3 times or 2.5 times the rent, according to the newspaper.

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