A Rental Property Pool Safety Guide

March 26, 2019

As the weather starts to get warmer, it may be time to look at a rental property pool safety guide and what you need to know as this week’s maintenance checkup from Keepe.

And, a pool can be a great feature to keep your rental units in demand and current tenants happy. But pool and hot-tub maintenance is crucial to keep up, not just for convenience, but for safety as well. So you need to learn what types of maintenance can keep you from having a pool-related accident on your property.

Liability and fencing

Landlords are required to maintain pools and pool fencing located on rental properties.

A landlord or property manager can be held liable for tenant and non-tenant injuries. Also, if a person drowns in the pool or slips nearby, you could be responsible for the accident.

Dirty water can affect pool usability, and result in sick children or pets if access to the pool is not monitored.

Also, residential swimming pools must also be surrounded by a suitable barrier. It can be a fence or pool cover to ensure safety in the pool area, especially for children. If there is no preventative barrier, you can be held responsible for an accident, such as an unsupervised child falling into the pool.

State- and county-specific laws may vary on the specifics of the guideline, so refer to your local code to ensure you are not violating any pool fence laws that apply to your property.

Rental Property Pool Safety Guide And Maintenance

Also, poorly maintained pools can make a property less desirable and lead to numerous types of accidents.

So, keep the pool clean and safe with these tips.

Weekly tasks:

Remove debris, both from the surface of the water and the bottom of the pool
Maintain chlorine levels or salt levels
Check the water level and adjust as needed
Check the filter pressure and backwash as needed

Monthly tasks:

Test for water hardness (calcium content), pH, and dissolved solids and add chemicals as needed
Clean the pool filter
Check the operation of the pump and motor

Additional tasks, as needed:

Update pool rules and safety changes
Learn local laws and regulations surrounding pool areas
Schedule tasks and making sure maintenance services are carried out
Monitor access, chemical storage and pool furniture storage
Access the need for lifeguards and manage that staff if needed
Monitor restroom, locker and shower facilities and ensure they are clean
Monitor rule enforcement and field any complaints and issues

You can do all these chores yourself, or you can hire a handyperson to do it for you. Regardless, landlords and property managers should have a regular check-in with the pool system to ensure daily operations aren’t neglected.

A Guide To 4 Types Of Flat Roof Systems

By The Editors

March 23, 2019

The maintenance checkup this week provided by Keepe focuses on a guide to flat roof systems for your rental property.

Flat roofs can offer a clean look to an apartment building and add efficient space that tenants like.

But remember roofing is the first line of defense towards any natural disasters. Without a sturdy roof, your apartment and residents may be left at risk. If you are installing a roof on a new building or considering a replacement on an existing property, use this guide to help decide if a flat roof design fits your budget, geography, and style.

Pros of flat roof systems

Aesthetic: Flat roofs offer a clean aesthetic to a building. If your property is in the city or overlooks a beautiful landscape, a flat roof can complement the environment. Flat roofs are also a characteristic of modern design, so if your property is contemporary, this might be a priority for you and your tenants.

Useable Space: A flat roof allows for more efficient use of space both inside and out. Unlike a pitched roof, a flat roof offers rooftop space can be used as a rooftop patio, flower garden or give you the option to install solar panels out of view.

Cost: A flat roof is significantly cheaper than a pitched roof since the surface area of a flat roof is less than that of a sloped roof. Although installation is cheaper, depending on the amount of rainfall your property’s area receives, the maintenance costs might override the initial short-term costs.

Maintenance: The flat roof design makes it easier to inspect and maintain the roof. Issues can be addressed easier, but don’t underestimate the importance of regular maintenance.

Improved Energy Efficiency: Flat roofs may be more energy efficient depending on the climate and what materials are used for the roofing system.

Cons of flat roof systems

Climate Limits: Low slope roofs have an increased tendency to collect water. If you live in a rainy or snowy climate, this option might not be ideal for your property.

Increased Maintenance: Flat roof drainage is not as effective as a pitched roof. Without regular inspection, drains can become clogged, leading to damage and leaks.

Lifespan: Standing water, debris and clogged drainage systems may shorten your roof’s lifespan to as short as 10 years if not monitored regularly. Many flat roof leaks are due to the lack of regular inspection, so be sure you have regular maintenance checks if you choose a flat roof for your property.

Types of flat roof systems

If you decide that flat roofing is right for you and your property, take the next step and consider which material is best. There are several flat roof options – here are the three most common kinds of flat roof systems.

No. 1 – BUR (Built-Up Roof)

This flat roof systems contains layers of waterproof membrane, tar and gravel to seal the flat roof surface. This flat roof system is a great affordable option, plus it has fire resistant properties that are a great safety factor multi-family property. Built-up roofs are also very sturdy and efficient insulators due to their several layers. BUR systems can last 15 – 20 years and lasts longer in warmer climates. When installing this roofing system, your property must be empty and free of tenants during installation. BUR systems cost between $5 and $7 per square foot.

No. 2 – PVC (Polyvinyl Chloride)

PVC is one of the most popular roofing materials used for flat roofs. Sheets of PVC are an attractive option for waterproof performance as well as pedestrian traffic coating. PVC allows you to turn a flat roof into a usable space – ideal for multi-family properties. This type of roofing is also easy to install and maintain. It typically costs between $5 and $8.50 per square foot.

No. 3 – EPDM Rubber (Ethylene Propylene Diene Monomer)

EPDM is made of synthetic rubber made of recycled materials. Roofs of EPDM are durable, inexpensive and have a longer lifespan than metal roofs. EPDM roofs require seaming which means that there are more chances for water to seep through seams and lead to damage. If roofs are spray-applied, then the chance of damage is significantly lower. EPDM installation costs between $4 and $8 per square foot.

No. 4 – Modified Bitumen

Bitumen roofing is another long lasting option for flat roofs. This is a single ply roofing system that is rolled onto the roof surface. These roofs can last at least 20 years due to their durability. They are ideal for extreme weather climates that have high winds, hail and heat. Bitumen roofs range from $3 – $6 per square foot.

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Rent Prices Rising Faster Than IT Wages Even in Tech Hubs

By The Editors

March 22, 2019

Rent Prices Rising Faster Than IT Wages Even in Tech Hubs

Most people think of tech jobs as providing nice high salaries, but in many tech hubs rent prices are rising even faster than the tech salaries may be able to support, according to new research.

“While there are clear advantages to living in or near a tech hub, more people relocating to these cities can put a certain pressure on the rental market, leading to rising rents,” says a new report from RentCafe.

And with a new generation of startups going public soon, things will get scorching in America’s hottest housing markets, even for renters with high-paying tech jobs, the report says.

“Over a 3-year period, rents grew faster than the wages of IT employees in 10 of the top 15 largest tech hubs, according to our latest analysis of US Census, BLS and Yardi Matrix data.” And here’s the real kicker: half of the top 10 emerging tech hubs are already seeing this trend as well.

Rent prices rising in tech hubs: Quick facts from the study

San Jose, the pride of Silicon Valley, has the largest share of IT jobs, 12%, and is one of two metros where wages of IT employees have decreased while rents soared. So much so that metro San Jose exhibits the largest gap between rent and wage growth.
Other established tech hubs where wages didn’t keep up with rents were Seattle, Atlanta and Boston.
Looking at up-and-coming metros, Charlotte ranks first with a 37.5% increase in the number of IT jobs between 2014 and 2017. And the rental market is already reacting: Prices here jumped by 7.6% since 2016, outpacing wages in terms of growth. The same scenario applies to Salt Lake City and Miami.
For those looking for more affordable emerging tech hubs, Madison and Nashville are go-to destinations, thanks to healthy growth rates in IT of 26% and 22% respectively. (Though relocating here means you have to be happy with a lower wage than in other areas.)
The ubiquitous San Francisco is again the exception that proves the rule. With the priciest apartments among all tech hubs ($3,084/month) and a strong 5.8% rent growth, The Golden City has seen its pool of IT employees increase by 19%. Moreover, it managed to boost tech salaries by 13.9%, the biggest wage growth seen by any tech hub in the top 10 over a 3-year period. However, with expected IPOs, these positive trends might turn dire for some social groups.

Seattle near the top

Seattle is a top metro tech hub, where the presence of both Microsoft and Amazon has certainly helped the metro reach its high 6.8% share of IT jobs.

Salaries in the metro remain considerably high at $115,500, but so are rents, which increased by 11.7% in a 3-year period, reaching an average of $1,825 in 2019.

See the full RentCafe report here.

Methodology:

RentCafé used the ‘Computer and Mathematical Occupations’ from The Bureau of Labor Statistic database for IT jobs-related data and took into consideration the 2014 and the 2017 data at metro level (most recent BLS data). The average wages in IT jobs were calculated based on the most current wage data from The Bureau of Labor Statistics (2017) adjusted for inflation to 2019 dollars and rounded to the nearest hundreds. The rent data were provided by Yardi Matrix, a RentCafé sister company focusing on apartment market intelligence and providing up-to-date information on large-scale multifamily properties of 50 units or more in over 130 U.S. markets.

Multifamily Growth Shows No Signs of Slowing, New Report Says

By The Editors

March 21, 2019

Multifamily Growth Shows No Signs of Slowing, New Report Says

The multifamily market is entering the time of year when rent growth typically occurs and there is no indication of any slowing in the market, according to Yardi Matrix’s latest report.

“Our latest multifamily national report presents a $2 rise in average U.S. rents in February and year-over-year growth of 3.6% as evidence of the sector’s continuing strength,” the company says in the report.

“Our February survey of 127 major U.S. real estate markets shows that demand, bolstered by a strong job market, shows no signs of slowing. Rents averaged $1,426 for the month.

“The market has strength to perform well for a while, even if the economy or other commercial real estate segments slow down,” the report says. “Occupancy rates have ticked down slightly, but absorption has been no problem.”

Phoenix takes over the top spot in rent growth

Rent growth has steadily increased since bottoming at 2.2% in the fall of 2017. The consistent growth is a sign of the strength of the sector’s fundamentals and an indication that the cycle has a ways to run.
Phoenix (8.0%) has taken over the top spot in the rankings, edging out the former leader, Las Vegas (7.9%). Sacramento, Atlanta and the Inland Empire also have year-over-year growth topping 5.0%. Portland, Kansas City and Houston are the only metros below 2.0% growth year-over-year.

Multifamily continues to perform well despite a long market run

Demand has shown no signs of slowing, as the job market has remained very strong, with unemployment below 4% and wage growth accelerating to more than 3%, the report says.

Metros with strong population gains and healthy job growth have benefited the most from the demand picture. Phoenix and Las Vegas are well above the rest, with growth dominated by Southwest and West Coast markets. Other top rent-growth markets—such as Sacramento and the Inland Empire—are near the top due to the combination of robust demand and weak supply growth.

With the marketing entering the rent growth phase, all signs point to this year being no different.

Home purchases increased as some millennials start buying single-family homes

It is notable that the homeownership rate has climbed over the past year to 64.8% in the fourth quarter of 2018, from 64.2% a year earlier.

The most significant change came from 35-to-44- year-olds, whose homeownership rose 220 basis points year-over-year to 61.1% in fourth quarter of 2018.

“What’s interesting about this is that it could portend social change heralded by some analysts, who have forecast that millennials were merely delaying— not shelving—marriage and family. In this scenario, older millennials will increasingly settle down in the suburbs, have children and seek to re-create the picket-fence lifestyle of their parents. If that’s correct, there could be a weakening of demand for urban apartments, since these households will give up the more amenity-rich cities and inner-ring suburbs in favor of better schools and more privacy.

“Could this be the start of a longer-term trend? Possibly. The data would have to change more significantly and for a longer period of time before we can make any pronouncements with certainty,” the report says.

View the full Yardi Matrix multifamily national report for February 2019 for additional detail and insight into 127 major markets.

Yardi Matrix is the industry’s most comprehensive business development and asset management tool for investment professionals, equity investors, lenders and property managers who underwrite and manage real estate investments in multifamily, industrial, office and self storage. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn more.

About Yardi
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

Legislation Changing in Many States to Make Them Less Landlord-Friendly

By The Editors

March 19, 2019

Legislation Changing in Many States to Make Them Less Landlord-Friendly

Legislation recently passed or pending in many states is making them more tenant-friendly and less landlord-friendly, according to some new research by RentCafe.

With Oregon passing a first-in-the nation rent-control bill, and Washington State considering extending the amount of time before a landlord can evict a tenant, it is clear landlord-tenant laws are evolving in many places in the United States.

In a recent study, RentCafe compared and contrasted landlord-tenant laws in 50 states and the District of Columbia. The study focused on 10 common aspects of the landlord-tenant relationship, which includes security deposits, rent increases, the warranty of habitability and eviction notices. It also created a ranking system based on the best and worst scenarios for renters and landlords.

Most tenant-friendly states

Vermont ranked first among the renter-friendly states, followed closely by Delaware and Hawaii. Rhode Island, Arizona, D.C., Maine and Alaska statutes also seem to favor tenants over landlords, according to the analysis.

More landlord-friendly states

On the other end of the spectrum, the laws in Arkansas and West Virginia were the least friendly to their renters, with Louisiana, Georgia, Wyoming, North Carolina, Idaho, Ohio, Mississippi and Colorado following. Arkansas and West Virginia registered the same score on the scale, but since Arkansas is the only state where tenants can face criminal charges for failure to vacate, it earned the last place on the renter-friendly scale.

How rental laws were shaped by regional culture

The United States is in some ways a nation of nations, with each state having the right to create its own constitution and government. Over time, this facilitated the creation of very different laws and regulations, with local culture and sensibilities playing a huge role in shaping the state’s legislation.

Southern states,which relied mostly on agriculture during the first days of our nation, valued land ownership above all else and subsequently shaped their laws to protect landlords and their properties.
Northern states, on the other hand, focused more on manufacturing and trade, encouraging constant immigration from Europe. Since most of the population worked in factories and lived in crowded cities, it only makes sense that eventually they developed more and more laws that regulated renting.
Mountain states also seem to mostly favor landlords, but probably because renting was less common and there wasn’t much opposition from renters. Conversely, in areas where renters outnumber owners, the laws lean toward protecting renters.

The best states for common renting issues

The relationship between landlords and tenants may sometimes prove tricky to manage, and problems emerge when either side doesn’t hold up their end of the agreement. That’s why it is important for states to have concise and unbiased legislation in place so as to avoid any misunderstandings.

The security deposit is an issue that every renter faces at the beginning of a new lease. There are 10 states that limit the security deposit amount to the equivalent of one month’s rent (for unfurnished apartments on a one-year lease). Among them are Hawaii, District of Columbia, Rhode Island, Massachusets, and Kansas.

Not having to wait forever to get your security deposit back (after any applicable deductions) at the end of your lease can also be a blessing, especially when you need that money to put down a deposit on your next apartment. Renters in Montana are the luckiest in that regard, as they’ll get theirs back in no more than 10 days. In Hawaii, South Dakota, Nebraska, Arizona, and Vermont, landlords are required to return security deposits within 14 days.

Length of time for termination for nonpayment of rent and rent increases

If you live in the District of Columbia, you get the longest termination notice for nonpayment of rent: 30 days.

In the following 5 states, renters receive a 14-day notice: Vermont, Wisconsin, Minnesota, Massachusetts, and Tennessee.

Renters in Georgia, Vermont, and Delaware receive a generous 60-day notice of rent increase for month-to-month contracts, while those in Maine, Hawaii, and Nevada receive 30 days.

The worst states for common renting issues

Vermont might have the best laws for renters, but it’s also one of 24 states that don’t set a limit for security deposits. Other examples are Georgia, Washington, Texas, Illinois, and New York.

Being able to withhold rent for failure to provide essential services (heat, hot water, and electricity) is another law that many would consider common sense, yet there are 11 states which don’t specifically allow this.

Furthermore, 14 states empower landlords to use harsh measures like serving an Unconditional Quit Notice against renters who violate their leases. Arizona, Hawaii, Virginia, Rhode Island, and South Carolina are some of them. To be fair, the situations in which this practice is allowed usually relate to serious breaches of the rental agreement, such as illegal drug possession, prostitution or other criminal activities. But there are also states where this type of notice can be used for simply being late on rent (Georgia, South Carolina, and West Virginia).

Also, in 8 states, including Maryland, Georgia, New Jersey, South Dakota, and Missouri, landlords have the option to immediately terminate a lease and file for eviction when the tenant is just a few days late on rent.

Methodology

This analysis was performed by RENTCafé’s research team, which analyzed Landlord – Tenant laws across the 50 states and the District of Columbia. This analysis does not discuss rent prices and does not include legislation that specifically regulates rent prices.

In order to rank the states, the following 10 common aspects of the landlord-tenant relationship were used.

Security-deposit maximums
Deadlines for returning security deposits
Rent-increase notices
Repair-and-deduct policies
Withholding-rent policies
Landlord’s access to the property
Termination notices for nonpayment
Regular termination notices for tenancies at will
Termination notices for lease violations
Abandoned tenant property

Wet, Cold Weather Means It’s Time To Check Your Seasonal Basement Maintenance

By The Editors

March 19, 2019

Wet, Cold Weather Means It’s Time To Check Your Seasonal Basement Maintenance

Wet, cold weather is a signal, in this week’s maintenance checkup, to look into your seasonal basement maintenance says Keepe .

Wet, cold weather can often lead to basement problems, so check your seasonal basement maintenance to avoid a wet basement.

Does your finished basement need foundation repair?
Have you noticed persistent leaks, dampness or cracks in the basement?

As a property manager, managing the waterproofing, plumbing, electrical and insulation work can take some extra maintenance planning on your part. Make basement maintenance a priority for your property by addressing the most common issues early on.

Foundation cracking can occur any time of the year, but often occurs during the cold and rainy months, when heavy rains and floods occur. If you are considering finishing your basement or are currently managing a finished basement, consider the following solutions to ensure your basement remains safe and functional:

Seasonal basement maintenance check list

Replace Defective Gutters: Make sure the property’s drainage systems including gutters and spouts are working effectively and diverting water away from the property. Gutters must be sized large enough for the amount of rainfall your property gets. Compromised drainage systems are often easy to identify; if your property needs a drainage system cleaning, it can significantly improve your property’s safety.
Fix Ineffective Grading: The mulch beds and soil around the foundation of your property should slope away from the exterior walls, redirecting any water flow. Similarly, ensure that other material surrounding the property, such as driveways and sidewalks, are installed at a slope that goes away from the basement.
Repair Interior Water Leaks: Basement windows should be installed above ground level with waterproof seals. Inadequate seals can easily put your property at risk of being damaged by water. Prevent damage by waterproofing windows and features across the interior walls to ensure leaking doesn’t occur.
Combat Condensation: When warm, moist air interacts with the cool basement walls and floors, condensation can occur. To combat this issue, you want to reduce the humidity in the air; make sure the the exhaust of your dryer is sealed so that moist air does not enter the basement, and make sure the central air conditioner drains properly. Next, make sure problem areas such as walls, pipes and ducts are covered with insulation. For further protection, install an exhaust fan, a dehumidifier, or an air conditioner to promote increased air circulation.

Maintaining regular maintenance across these four areas is vital to protecting your property from a compromised basement.

Cleanup costs for basement-related issues tend to be higher than preventative expenses, due to extended damage to furniture, utility equipment and interior room walls. Schedule regular preventative maintenance to make cost-effective improvements to your property every season.

7 Ways To Build A Sense of Community In Your Apartment Building

Holly Welles

March 14, 2019

7 Ways To Build A Sense of Community In Your Apartment Building

How to build a sense of community in your apartment building has become a more important job for many property managers in the multifamily industry. Here are 7 ways to potentially build a sense or community.

By Holly Welles

Running an apartment complex is a gift and a challenge all wrapped in one box. On one hand, you get to interact with different people every day. You provide them with a sense of home and safety in what may be an entirely new city. Tenants trust you and your skills to make your community the best in your area. It’s a big responsibility, and one every property manager should feel honored to provide.

On the other hand, property managers are responsible for the feeling of community in their apartment complex. People may live side by side, but that doesn’t mean they get the chance to know each other outside of regular work or school hours. It’s difficult for people to break their routine when they’re busy, which is where the property manager can step in.

Read on to learn some easy ways you can build a sense of community in your apartment building. Tenants will appreciate getting to know their neighbors while also being cared for by the management team. You can go all out or start with baby steps, depending on your budget, but there’s always something you can do to encourage a sense of community.

1. Designate an Outdoor Space

If your complex doesn’t have one already, find a way to designate an outdoor space for your tenants to use as a community center. This could look like a pool, a garden or even a plot of grass with some picnic tables. Many apartment communities are also building dog parks, if they have the infrastructure.

Consider the average life experiences of your tenants to determine what outdoor space they would enjoy best. You don’t want to spend your money on an amenity that tenants will likely ignore. It’s more important to build the right outdoor space than to jump to provide anything at all.

2. Set Up Regular Events

A great way to get tenants to interact with each other is to set up regular events that will make them want to step out of their possible comfort zones and meet new people. Events can be centered around fun holidays, like the Fourth of July or Halloween, so everyone can participate. Encourage tenants to come out and have fun at a cookout or networking event, for example.

This is a great way to encourage residents to establish neighborly ties. If you manage a city rental, post local activities every week or so to see if your tenants want to form a get-together — . Encourage tenants to come out and have fun at a cookout or networking event, for example.
When your tenants get to know each other, your business benefits.

When your tenants get to know each other, your business benefits. Not only will familiarity make them more considerate of each other’s space and quality of life, but you’re likely to reduce tenant turnover in the long run. Creating community events doesn’t have to be resource-intensive, and it results in connections that will help you and your tenants enjoy the rental experience more.

3. Host Contests

If you have the budget, you may want to try engaging with tenants through fun contests. Contests can range from food-drive competitions to costume contests to even who can get the most likes on a pet picture on social media.

Think about what your tenants might like and pitch ideas with the management team to come up with ideas. Your community will love the interactive side of contests without necessarily having to carve out time from their schedule to participate.

4. Create a Social-Network Page

Most businesses automatically get social-network profiles to represent themselves online. After all, people want the online experience of seeing 3D models, floor plans and pictures. In addition to your main profiles, create a unique community page where only residents are allowed into the group.

This is a great way to encourage residents to establish neighborly ties. If you manage a city rental, post local activities every week or so to see if your tenants want to form a get-together. For more suburban regions, where commutes are often 30 minutes or more, set up carpooling threads to help tenants save on driving costs. Social media is a powerful tool for helping residents feel like they have a community they can rely on.

5. Remember to Say Thanks

People need a place to live, so tenants may feel like they’re taken for granted by property managers. One way to get around this feeling and continue building a sense of community is to always remember to say thanks. Put notes on doors or in mailboxes that remind residents you care. Celebrate their six-month or one-year move-in anniversaries to show that you pay attention and value their choice to stay with you. Tenants will be pleasantly surprised to have an interactive and caring management team, leading to feelings of community and worth.

6. Communicate With Maintenance Workers

People will only admit so much to management staff. You may send out emails with surveys, asking for people to give their honest opinions about what they like and what they think should change. That doesn’t mean tenants will feel comfortable enough to be totally honest. That’s where the maintenance team comes in.

The maintenance crew has the advantage of getting one-on-one interactions with tenants. They get to hear what people like and don’t like about their apartment in very honest conversations. They’ll be able to feel out the mood of tenants regarding community upgrades or apartment changes more than office staff could. Meet with your maintenance workers and keep the line of communication open with them. They’ll provide valuable feedback you can use to keep your community tight-knit and happy.

7. Encourage Community Feedback

Whatever kind of community outreach you decide to do, make sure to encourage feedback from those who participate. A contest or event might seem like a fantastic idea to you, but would it really enjoyable for the tenants it was created for? The only way to know that is to be open to feedback.

At physical events, provide slips of paper that residents can fill out anonymously and drop in a locked box. Online events or emails can include a survey link that people can take online in just minutes. The key is to make these surveys quick and anonymous. You can always include a note that people are welcome to visit the management office during regular business hours to speak about an issue or concern more in-depth, too.

Summary: Build A Sense Of Community in Your Apartment Building

Never forget that the community is why you’re looking to do these things. Whatever event you put together, your tenants should be just as excited about it as you are. A younger generation won’t enjoy a potato-salad cookout as much as an older generation would, much like older tenants may not participate in social-media outreaches.

Consider your tenants, think about their needs and get feedback. Feedback may come from the tenants themselves or people like the maintenance crew, but it will all be valuable. You’ll quickly be able to find what your community enjoys and continue to build that sense of family between everyone in the future.

About the author:

Holly Welles writes about real estate market trends from a millennial perspective. She is the editor behind The Estate Update, a residential real estate blog, and keeps up with the industry over on Twitter @HollyAWelles

Eviction Bills Moving Forward In Washington Legislature

By The Editors

March 14, 2019

3 Areas Where Congressional Legislation Falls Short, Could Be Detrimental to Rental Housing Market

Bills that would extend the time a landlord must wait before filing an eviction due to non-payment of rent in Washington State are continuing to move through the legislature.

HB 1453, which extends the number of days a tenant has to pay or vacate after failing to pay rent from the current three days to 14 days, has passed the house. Senate Bill 5600 has also passed. Here is a summary of SB 5600:

Extends the 3-day notice for default in rent payment to 14 days’ notice for tenancies under the Residential Landlord-Tenant Act.
Requires the 14-day notice be written in plain language and include information on civil legal aid resources available, if any, to the tenant.
Extends the mandatory-notice period from 30 to 60 days when landlords propose a rent-change amount. Requires a landlord to first apply any tenant payment to rent before applying the payment toward other charges.
Prohibits continued tenancy and relief from forfeiture to be conditioned upon tenant payment or satisfaction of any monetary amount other than rent.
Provides the court with discretion to provide relief from forfeiture or to stay a writ of restitution.
Requires a landlord to provide a tenant with documentation regarding any damages for which the landlord intends to retain any of the deposit amount.

Seattle Democratic Representative Nicole Macri says the state is facing a true eviction crisis

“I can think of no other instance where somebody can lose their home so quickly,” Macri said on the House floor ahead of a vote on her bill, HB 1453. “It’s important to note that nine out of 10 evictions in our state are related to non-payment of rent. In a recent study in Washington State we found that when folks have been evicted, only close to 10 percent of them have been able to find another home. Meaning that eviction is directly related to the crisis of homelessness that we’re experiencing.”

Summary of support for the bill

“Until recent work by Mathew Desmond of Princeton and Timothy Thomas of the University of Washington, the enormous impact of evictions was not understood. Rents have soared in the last decade. More than 70 percent of low-income residents pay more than half of their income towards rent in our state. Average rents have increased from $1,034 in 2010 to $1,725 in the central Puget Sound region today; this equates to $8,300 in extra cost per year. The crisis is reaching all corners of our state. It was once thought that eviction was an outcome of poverty, but it is now known that eviction can be a cause of poverty. When people are evicted, they have to leave their neighborhoods and children must leave their schools. The impact is severe,” the bill summary says.

Summary in opposition to the bill

“Affording 21 days to pay or vacate is too long, but the discussions should continue. Other issues in the bill are problematic, such as a definition of rent that does not include utilities. In one situation, it was only after the unlawful detainer action was filed that the tenant paid their $6,000 utility bill. Many landlords will leave the business with these changes. One national entity reports the loss of 30 percent of its portfolio of housing in the last several years. That is a huge loss. People need to be encouraged, not discouraged, from being landlords. Only four states afford more than 10 days. The focus should be upon education and also upon the provision of sources of money to pay. There needs to be common sense brought to this issue. Most landlords try to work with tenants. The loss of rental housing will only lead to a bigger problem. A landlord in Tacoma with over 34 years’ experience as a residential landlord reports over 550 rental contracts and zero evictions. The five-day notice to pay or vacate that is found in House Bill 1463 is what is needed. The problem is affordability of land and the cost of building permits,” the bill summary says.

Among those testifying in opposition to the bill were Kathryn Hedrick, Washington Multifamily Housing Association; Kyle Woodring, Rental Housing Association; and Lyle Crews, National Association of Rental Property Managers.

Resources:

Concerns linger as eviction reform bills advance in Olympia

Washington State Senate Passes Eviction Reform with (gasp!) Bipartisan Support

Lawmakers in Olympia look to eviction reform to tackle homelessness

African-American legislators called white supremacists over eviction reform

Photo credit designer491 via istockphoto.com

20 Easy, Affordable Maintenance Projects To Update Your Rental Property

By The Editors

March 13, 2019

easy affordable maintenance projects to update your rental property

Easy affordable maintenance projects that improve the look and feel of a rental property can make it feel welcoming and really help when it comes to landing that next tenant, the maintenance checkup from Keepe this week.

This week’s post will list easy affordable maintenance projects to update every room. These small improvements and investments really go a long way.

Easy affordable maintenance projects to improve the front and outdoor

1. Repainting the front door – a fresh and crisp coat of paint does wonders for a property’s exteriors, especially when opting for bright or bold colors. Due to its exposure, the front door can be prone to discoloration and chipping, and a new coat of paint can completely transform it into a cheerful and appealing detail.

2. Replacing the property’s numbers – Over time, those number sets can rust and look worn. Replacing the existing set with a new one is inexpensive and makes the exteriors look neat.

3. Sanding and refinishing railings – Harsh weather and temperatures can take a toll on metal fences and railings. Rust, oxidation and discoloration are unappealing, but can be easily taken care of by sanding, repainting and sealing.

4. Resealing and treating wooden fences – Wood fences and gates are prone to rotting, discoloration and moss growth. Regularly sealing and treating the wood not only prolongs its life by protecting it from moisture and the elements, but also restores the beauty of a uniform and natural-looking finish.

5. Repainting or replacing mailboxes – Tenants will notice and appreciate the look of their updated mailbox, and will be even more excited about having newer models installed, as those offer include safe features for protecting your tenants mail.

5 easy affordable maintenance projects for the kitchen

1. Installing a fun and modern backsplash – a tiled backsplash protects the exposed walls from moisture and staining from food spills and splashes, while also making the space look more appealing. Most hardware and home improvement stores offer a great variety of tiling combinations for backsplashes, which are generally rather inexpensive while also being highly customizable and adaptable to the existing color schemes and features of a kitchen.

2. Updating cabinet and drawer handles – Swapping handles with newer and slightly more elaborate ones is a very easy and inexpensive hack that makes the space look more appealing and curated.

3. Turning recessed lighting into accent lighting – A maintenance professional can modify existing recessed lighting into hanging lighting, which can completely transform the space by adding a distinguishing accent with a touch of color.

4. Sleek-ifying and modernizing appliances with a coat of liquid stainless-steel – Having a painting expert recoat your appliances with a kitchen-safe liquid stainless steel paint makes outdated or discolored appliances look modern and sleek.

5. Adding molding on top of cabinets – Molding makes the space look polished by giving cabinets a custom, built-in look. Different styles of molding exist to match different decors.

5 bathroom maintenance projects

1. Restoring grouts – Over time, tiling can look worn and dirty as the grout becomes stained and collects dirt over time. A tiling professional can easily scrape off old grout and regrout the space, which makes it look clean and neat.

2. Restoring caulking – Just like grout, caulking in sinks, tubs and showers can stain and start looking worn or even moldy over time. Recaulking resolves this issue while updating the overall look of the bathroom.

3. Sealing cracks – Cracks are not a pleasant sight on tiling and fixtures, making them look worn and damaged. They can be concealed by being filled in with sealant.

4. Upgrading showerheads and faucets – Installing a new showerhead and faucet set modernizes and updates the space while also treating your tenants to the enjoyable features of newer showerheads models, such as improved water pressure settings and even integrated lighting.

5. Covering exposed bulbs – Exposed light bulbs aren’t particularly appealing, actually making space look rather unpolished. Plenty of inexpensive lighting fixtures are available for purchase, and can be installed over exposed bulbs to improve the look of the space.

5 ideas for living rooms, bedrooms and home offices

1. Upgrading or replacing baseboards – Like molding for cabinets, baseboards polish and add a finishing touch to the interior of your rental property. They can be a helpful addition as they protect walls in high-traffic areas from abrasions and contact, but can easily start looking worn if left unmaintained for long periods of time. Repainting, repairing or replacing older baseboards completely uplifts the spaces where they are installed.

2. Repainting the interior walls – Spring and Summer are the ideal time for scheduling major painting projects, as the weather and temperatures are typically paint-friendly. Refreshing the walls with a new coat of paint or opting for a new color is one of the most immediate ways to update the look and feel of the unit, especially considering that some walls can be prone to staining and discoloration over time.

3. Deep-cleaning carpet and sealing hardwood – Both procedures will restore flooring to a like-new condition, which will make the unit feel and look clean and cared-for.

4. Replacing outlets – Swapping older outlets with newer, multi-outlet and usb-friendly models modernizes the unit and lets your tenants to enjoy their practicality and efficiency.

5. Considering smart gadgets – Smart home systems with integrated high-tech gadgets offer a variety of innovative ways to make units more efficient and comfortable. Some of the more popular systems include voice-controlled task assistants, user-friendly energy-use monitors, intelligent thermostats and interactive lighting.

Easy affordable maintenance projects summary:

Prioritizing functional maintenance jobs such as gutter cleanings, plumbing and HVAC checkups, emergency repairs, preventative inspections is fundamental maintenance. However, minor maintenance projects for the improvement of its aesthetic qualities should not be underestimated or forgotten.

Often times, investing in easy affordable maintenance projects that tackle the aesthetics of a rental property seems superfluous because they are not repairing or improving the actual amenities, which are the distinguishing factor attributing value to a property. While it’s definitely smart to prioritize functional maintenance jobs, home improvement projects can also add some serious value to a property.

Improving the look and feel of rental property space not only makes the overall unit look more appealing, but it can help with making up for those elements that might be lacking or slightly outdated. Aesthetic improvements showcase attention to detail and make tenants feel good about living in a place that looks well-kept and welcoming.

About Keepe:

Keepe is available in the Greater Seattle area, Greater Phoenix area, San Francisco Bay area, Portland, San Diego and is coming soon to an area near you. Learn more about Keepe at https://www.keepe.com.

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Seattle Rents Increase Moderately Over The Past Month

By The Editors

March 12, 2019

Seattle Rents Increase Moderately Over The Past Month

Seattle rents have increased 0.3% over the past month, and have increased marginally by 0.6% in comparison to the same time last year, according to a new report from Apartment List.

Currently, median rents in Seattle stand at $1,330 for a one-bedroom apartment and $1,650 for a two-bedroom.

This is the second straight month that the city has seen rent increases after a decline in December of last year. Seattle’s year-over-year rent growth lags the state average of 1.1%, as well as the national average of 0.9%.

Rents rising across the Seattle Metro

Throughout the past year, rent increases have been occurring not just in the city of Seattle, but across the entire metro. Of the largest 10 cities that we have data for in the Seattle metro, 9 of them have seen prices rise. Here’s a look at how rents compare across some of the largest cities in the metro.

Lakewood has the least expensive rents in the Seattle metro, with a two-bedroom median of $1,450; the city has also experienced the fastest rent growth in the metro, with a year-over-year increase of 3.9%.
Over the past year, Marysville is the only city in the metro that has seen rents fall, with a decline of 3.5%. Median two-bedrooms there cost $1,640, while one-bedrooms go for $1,320.

Other large cities nationwide show more affordable rents compared to Seattle

As rents have increased marginally in Seattle, a few similar cities nationwide have also seen rents grow modestly. Compared to most other large cities across the country, Seattle is less affordable for renters.

Rents increased slightly in other cities across the state, with Washington as a whole logging rent growth of 1.1% over the past year. For example, rents have grown by 1.7% in Vancouver and 0.7% in Spokane.
Seattle’s median two-bedroom rent of $1,650 is above the national average of $1,170. Nationwide, rents have grown by 0.9% over the past year compared to the 0.6% increase in Seattle.
While Seattle’s rents rose marginally over the past year, many cities nationwide also saw increases, including Phoenix (+3.6%), Austin (+3.1%), and Denver (+2.4%).
Renters will generally find more expensive prices in Seattle than most similar cities. For example, Spokane has a median 2BR rent of $890, where Seattle is more than one-and-a-half times that price.

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Other large cities nationwide show more affordable rents compared to Seattle