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Tue
02
May
The Editors's picture

First in Time Lawsuit: Yim et al. v. City of Seattle

Evan L. Loeffler blog on the first time lawsuit and the city of seattle and landlords

By Evan L. Loeffler

The First in Time lawsuit continues. The City of Seattle filed an answer to the plaintiffs’ complaint in early April essentially denying all relevant allegations and claiming the matter should not be litigated. 

Tue
02
May
The Editors's picture

Deceleration In Multifamily Pricing Contributes To Slower Growth In Commercial Index

Multifamily in the West commerical price index from CoStar

Multifamily was the slowest growing property type index in the first quarter of 2017, according to the CoStar Commerical Repeat Sales Indices.

The report says amid slower rent growth and heightened construction levels at the top end of the multifamily market, pricing in the Multifamily Index advanced 1.9% in the first quarter of 2017, a moderate deceleration from its quarterly average pace of 2.9% over 2015 and 2016, according to a release.

The U.S. Multifamily Index increased by 1.9% in the first quarter of 2017, the slowest rate among the major property types, although recent annual gains of 9.1% in the 12-month period ending in March 2017 are still healthy.

Tue
02
May
The Editors's picture

Effortless Ways To Earn Extra Fees: Bike Rooms And Dog Park Equipment

Bike rooms and dog park equipment can be apartment amenities that allow you to add extra fees

Sponsored Blog

Bike rooms and dog park equipment can be the type of amenities renters are looking for in apartments these days.

By Robert Caston

Renters are willing to pay extra fees for bike rooms and dog park equipment because those amenities involve their favorite possessions – bicycles and dogs.

There are some simple strategies you can use to not only attract more renters, but justify charging them for extra services.

Let’s start with bike rooms. The number of bicycle owners in the United States is at an all-time high - 62 million.

Mon
01
May
The Editors's picture

Multifamily Fund Acquires 1,094 Apartments In The West

SARES•REGIS Multifamily Fund acquired more than 1,000 apartments in the West in the fourth quarter of 2016

A multifamily value-add fund acquired four rental communities totaling 1,094 apartments in Washington, Colorado and Arizona in the fourth quarter of 2016, according to a release.

The fund, which has $304.2 million in equity commitments, has acquired a total of nine communities since 2015.

"With 2,351 apartments under management in Fund II and approximately two thirds of the fund's equity invested, we're in a great position to selectively fill out the balance of the portfolio in 2017,"  Bill Montgomery, chief investment officer of the SARES•REGIS Multifamily Fund, said in the release.

 "The fund's equity commitments can be leveraged to acquire approximately $850 million in assets," he said.

Mon
01
May
The Editors's picture

Renters Can Buy Without Increasing Their Monthly Housing Costs

How much house renters can afford

Median rent is more expensive than the mortgage payment on a median valued home in the U.S., but many renters are struggling to come up with a down payment, according to a release.

Rent is so high that a typical renter in the U.S. can purchase a home nearly 50 percent more expensive than the median valued home and keep the same monthly housing budget, according to a new Zillow® analysis.

The median rent in the U.S. is $1,416 per month, which is enough to cover the monthly expenses associated with owning a $289,505 home. The median U.S. home value is $196,500.

Wed
26
Apr
The Editors's picture

Knopp Tackles Oregon Housing Crisis, Economic Growth

 Public hearings have begun on Oregon Senate Republican Deputy Leader Tim Knopp's package of bills to tackle the state's housing crisis which he said is driven by a lack of supply and high demand.

 Senate Bill 608 allows local governments to expand the Urban Growth Boundary when the number of new households in a jurisdiction exceed the number of new housing units and vacancy rates drop below six percent.

"Oregon's soaring rent prices and housing shortages are caused by an outdated government that restricts building new places to live," Knopp, of Bend, said in a release.

 "Rents are rising faster than incomes, and we have to do something about it that restores the balance of supply and demand. When we do that, we will change lives in Oregon," Knopp said.

Tue
25
Apr
John Triplett's picture

Can I Say "No Pot In My Apartments" When It’s Legal In My State?

Can I say no pot in my apartments when it is legal in my state?

Oregon Governor Kate Brown this month signed a bill that prohibits marijuana retailers from keeping or sharing customer's personal information. According to reports, she said she was concerned about the Trump administration's future actions when it comes to the legalized pot industry which employs 13,000 people in Oregon. So when pot is legal in a state, what issues does this present to property managers and landlords of rental properties?

By John Triplett

Rental Housing Journal

Property managers are often confused and seeking to better understand how to handle the issues of legal marijuana and medical marijuana when it comes to tenants and rental housing in their states.

Laws are changing all the time in many states as voters approve different levels of permission when it comes to marijuana. This leaves property managers trying to figure out what should be in their leases around the issue.

Tue
25
Apr
The Editors's picture

Should Your Company Have A Policy On Workplace Political Discussion?

Should your company have a policy on workplace political discussion?

Employees in the U.S. find it increasingly difficult to ignore political discussion in their workplace, and 31% believe political conversations among coworkers decrease their company's productivity, according to a release.

New findings in a survey by Clutch, a leading B2B ratings and reviews site, indicates many employees are distracted and negatively impacted by political discussions at work.

"I think we need to create some kind of policy which talks about behavior and how we communicate,"  Steve Albretch, Ph.D, human resources consultant and author, said in the release.

Tue
25
Apr
The Editors's picture

Internet More Important Apartment Amenity Than Laundry?

Internet a more important amenity than laundry

High-speed internet and Wi-Fi are among the most important amenity factors to apartment dwellers when making a rental decision, even more than in-room laundry facilities, according to a new survey.

Technology drives the multifamily industry, according to a release from Comcast’s multifamily development services division.

 The company’s new report, “Networking with Residents: Technology Drives the Multifamily Industry,” examines the state of technology in the multifamily industry by including input from property managers and developers across the country. The report can be downloaded here.

Mon
24
Apr
The Editors's picture

3 Bubble Signs That Could Be Brewing In The Real Estate Market

Are there signs of a real estate bubble out there?

Are there signs that bubbles are brewing in the home flipping industry, writes one real estate consultant, or in real estate careers or in mortgages that are getting more creative?

One sign may be that television reality shows about home flipping continue to expand. Also, when consultants hear flight attendants talk about getting their real estate licenses, it could be another sign.

Real estate consultant John Burns writes in his latest email newsletter that reality television shows have been fueling the home flipping industry. “These television shows captive audiences and have led to a potential bubble in the home flipping industry that is being financed by hard-money loans financed by non-banks,” he writes.

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