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Tue
22
May
The Editors's picture

The Pros And Cons Of Renting to College Students And Maintenance Tips

The Pros And Cons Of Renting to College Students And Maintenance Tips

The how and why of renting to college students is a practice that deserves special attention and precautions and is the maintenance checkup from Keepe this week.

In most cases, properties located on or near college campuses are extremely profitable.

As new students come and graduates go, the need for practical housing remains.

 Most college-age renters prioritize proximity and accessibility to convenient transportation when looking for a place to live in while attending school. Also a large number of universities report a growing trend for graduates to remain in their college towns as opposed to relocating home whenever possible.

Tue
22
May
The Editors's picture

Stick To The Facts In Documentation At Your Property

Stick To The Facts In Documentation At Your Property

When dealing with accusations of discrimination, documentation at your property is key. The Grace Hill training tip of the week focuses on documentation and what you need to know.

Tue
22
May
John Triplett's picture

7 Drivers Affecting Multifamily Growth Going Forward

7 Drivers Affecting Multifamily Growth Going Forward

The drivers affecting multifamily growth in the next two to five years involve several issues that were discussed by leading experts from Yardi Matrix in a recent webinar.

The Yardi Matrix 2018 U.S. Multi-Family Market Update was presented by  Jack Kern, Director of Research and Jeff Adler, Vice-President of Yardi Matrix, who discussed what they see upcoming in the multifamily market in the next few years.

“The apartment markets are not in bad shape but localized. If you are an asset manager, what is your key issue going to be? Adler said. Some of his key takeways about multifamily growth from the webinar which can be downloaded here.

Tue
22
May
The Editors's picture

Man Awarded $20 Million After Fall Through Portland Apartment Walkway

Man Awarded $20 Million After Fall Through Portland Apartment Walkway

A jury has found a Portland apartment complex failed to make proper repairs to a walkway and awarded $20 million to a man who fell through the walkway, according to reports.

The man, Robert Trebelhorn, plunged waist-deep into a rotting, second-story walkway in February 2016, according to the lawsuit. He tore the meniscus in his knee, causing ongoing pain and therapy even after he underwent surgery.

Trebelhorn filed suit against Wimbledon Square Apartments and its parent company Prime Group, a Los Angeles-based real estate firm, after construction crews discovered serious dry rot and cracking concrete in the walkway.

His attorneys Jason and Greg Kafoury said Prime Group refused to make repairs for at least a decade.

Tue
22
May
The Editors's picture

Seattle Investment Company Buys Phoenix Apartments For $59 Million

phoenix apartments purchased by Seattle company

A Seattle investment company has purchased a 254-unit Phoenix apartment community on the light rail line along Central Avenue for $59 million, according to a release.

Security Properties and funds managed by Oaktree Capital Management, L.P. purchased Pavilions on Central, to bring the company’s holdings to nine assets totaling over 3,700 units in the Phoenix marketplace.

 "Pavilions on Central was appealing to us because of the combination of the rare townhome-style product type and the location on a light rail.  As Midtown continues to develop, these long-term competitive advantages should create value for our investors," Davis Vaughn, Senior Director at Security Properties, said in the release.

Mon
21
May
The Editors's picture

Mural Of Geese Flying Over Portland At New Apartment Community

Mural Of Geese Flying Over Portland At New Apartment Community

A hand-painted, 60-foot tall mural of two geese flying over Portland in the courtyard is a highlight for people living at a new apartment community called North Hollow, according to a release.

"Being at one with nature is important here at North Hollow," Terry Roberts, property manager, said in the release.

 "Living here is within an easy walk to the natural wonders of Washington Park with its hiking trails, thousands of rose bushes and Japanese Gardens. Alternatively, residents can enjoy the tones and textures of our expansive community lounge with its courtyard featuring the fabulous mural or go up to our rooftop terrace to enjoy views of downtown

Pacific Northwest artist Olivia Knapp created the mural

and West Hills."

Tue
15
May
admin's picture

Share Of Millennials Living With Mom On The Rise

living with mom

More millennials ages 24- to 36-years-old live with their moms than at any time in the past decade, according to the latest Zillow analysis.

Nearly a quarter of U.S. millennials are living at home with their mom, which translates to about 12 million young adults nationwide.

Despite a strong economic recovery, the share of millennials living with their moms has been increasing since 2005, when just 13.5 percent lived with their moms.

 

Rapidly rising rents and living with mom

The combination of rapidly rising rents and slow income growth over the past half-decade drove many young adults to either move back in or never move out of their parents' home, but the trend has been persistent even as the U.S. labor market has improved.

Tue
15
May
The Editors's picture

Portland City Commissioner Seeks To Regulate Tenant Screening

Portland City Commissioner Seeks To Regulate Tenant Screening

Portland City Commissioner Chloe Eudaly is seeking to regulate tenant screening by following a similar path to Seattle’s first-in-time ordinance and require Portland landlords to take a first-come, first-served approach to tenants, according to reports.

Eudaly’s proposal is similar to one passed by the Seattle City Council, called first-in-time. That ordinance was struck down in April by King County Superior Court Judge, Suzanne Parisien, who said in her ruling that “choosing a tenant is a fundamental attribute of property ownership.”

Willamette Week first reported that  Eudaly is working on a measure to require landlords to rent to tenants on a first-come, first-served basis. 

Tue
15
May
The Editors's picture

Reasonable Accommodation vs. Modification And Who Pays?

accommodation vs modification in rental housing

When a potential tenant asks for a reasonable accommodation or a modification for your apartments, do you know the difference? The Grace Hill training tip of the week focuses on reasonable accommodation vs modification and what you need to know.

By Ellen Clark

Knowing the difference between an accommodation and a modification when you get a request from a tenant is important.

Mon
14
May
The Editors's picture

California Landlords Settle Over ‘No Criminal Record’ And Discrimination

California landlords settle with HUD

California landlords have reached a settlement and agreed to pay $8,000 after a complaint alleging they used a policy of “no criminal or police record of any kind,” and in addition discriminated on the basis of race and national origin.

The U.S. Department of Housing and Urban Development (HUD) charged in the conciliation agreement that the landlords discriminated on the basis of race, national origin and prior criminal history, according to a release. The agreement names the Grand Oaks Apartments and Sierra Vista Apartments in Atwood, California, and MacBeth Apartment Systems in Carlsbad, California.

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