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Why Customer Service Is An Important Part of Fair Housing

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By The Editors
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Why Customer Service Is An Important Part of Fair Housing

Here are 3 aspects that can lead to excellent customer service because when our customers or residents feel well-cared-for, they are less likely to file a fair housing complaint.

By The Fair Housing Institute

It’s easy to get hyper-focused on fair housing rules and regulations when it comes to property management. But we need to remember that an integral part of what we do is steeped in customer service.

Our residents and prospects are customers and need to be treated accordingly. In addition, it stands to reason that when our customers or residents feel well-cared-for, they are less likely to file a complaint. Let’s discuss three aspects that can lead to an exceptional customer or resident experience.

1. Effective Communication

Your resident is speaking, but are you truly listening? An effective communicator will listen intently. Listening intently requires that you are focused on what’s being said, not how you are going to reply. By doing this, not only do you get a better understanding of what’s needed, the resident will feel valued and understood.

Follow-up is another part of effective communication. Many issues raised by residents are seldom resolved in one visit or phone call. Make sure that you continue communicating with your residents until the situation is resolved.

Effective communication can come easily when everyone involved is in a good place or state of mind, but it may be particularly challenging when emotions are running high. What can you do? The next aspect we will consider is imperative to handling these types of situations.

2. Respect While Being Disrespected

There is a saying that respect is a two-way street. We naturally want to be treated with the same dignity and respect we show our residents. Unfortunately, this may not always be the case.

A common situation we see is when a maintenance request has not been handled in a timely manner, at least as far as the resident is concerned. Remember that it is imperative that you always stay calm. Reassure your resident that they have been heard, and you will take appropriate action to try and find a resolution. Hopefully, by showing them respect and maintaining your patience, you can defuse the situation and create an environment that encourages the resident to do the same.

Part of effective communication and being respectful is having a thorough knowledge and training of your company’s policies and procedures. It stands to reason that in order to help your resident, you need to know how to answer their questions. The final part of this article will detail why this is important.

3. Know Your Policies and Procedures, so You Know How to Answer

Imagine you are the resident, and you need information. Would you be happy if the person behind the desk or on the grounds gave you a vague or confusing response? Probably not. Being well-versed in your company’s policies and procedures allows you to answer quickly and efficiently, which can go a long way if the person is already agitated. It can also help us avoid giving out misinformation.

To that point, every person who has contact with your residents should be trained in your policies and procedures so that the information disbursed is the same and will help you avoid a potential fair housing complaint or accusation of discrimination.

Property management companies face many different and challenging situations every day. Training and role-playing can help you develop the skills of effective communication, respect, and a thorough knowledge of policies and procedures, which in turn will help you deliver the exceptional customer experience you want to give.

About the author:

In 2005, The Fair Housing Institute was founded as a company with one goal: to provide educational and entertaining fair-housing compliance training at an affordable price at the click of a button.

Why Renters Move: Affordability And How Your Property Can Compete

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By The Editors
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A look at why renters move, affordability and how your property can prove its value to renters in a time of skyrocketing rent rates.

A look at why renters move, affordability and how your property can prove its value to renters in a time of skyrocketing rent rates.

By Rachel Richardson

With rising inflation and rent costs, budget concerns are causing renters to start looking for new places. Property teams can address growing concerns and keep demand high by showing the value they offer renters.

Home seekers have laundry lists of needs when deciding on that final place. Yet, research has found one major deciding factor that is common among renters—affordability. Skyrocketing rent rates, big grocery bills and higher cost of living are hitting home seekers during this time of high demand for finding a new home. In a new survey from Redfin,1 64 percent of renters said that inflation is affecting their moving plans, and 62 percent shared that they are concerned about rising rent costs.

Many are turning away from overpriced units and toward new opportunities, with one in five renters saying they plan to move to find lower rent. This adds challenges for leasing teams that strive to maintain trust with renters and retain residents. Promotions, showcasing savings of onsite amenities, effective communication about rates and improving overall brand value are all ways to navigate this growing need.

Let’s get into how your property can prove its value to renters.

Make renters aware of move-in deals and specials

If you have move-in deals, weeks off rent, or any specials going on at your property, this is the perfect time to highlight them. Plus, there are ample channels to do so—whether that’s through listings, advertisements, your onsite team or even social-media marketing.

Most ILS platforms allow you to highlight different specials that your property has. Platforms like rent.com and ApartmentGuide.com can even show when rent price decreases on your listing. This allows renters to instantly see that you offer added value compared to other properties in their area while they browse listings.

Good news can spread quickly, especially for properties that see spikes in move-ins during peak leasing season and have high demand among a specific group such as student housing communities. If your property has a referral program or other promotions, onsite staff can also share specials via word-of-mouth during onsite tours or follow-up communications. What better way to get the word out than renters who have already viewed the property and have high interest?

Share how your onsite amenities can help renters save

Look at your amenities from a different angle—how much they help renters save on extra expenses. People will often pay more for convenience, but the great thing about onsite amenities is the instant access residents have to fitness centers, common areas, pools or other amenities your community offers.

For instance, having an at-home gym can save renters time and money that would otherwise be spent offsite. Similarly, hosting a pool party or a gathering in the comfort of their community allows residents to remain social while avoiding the cost of going out.

Here are a few fun ideas for showcasing savings. You can even share creative and free ideas on your property’s social media that relate to onsite amenities:

  • Gym work-out groups or classes
  • Pet grooming
  • Pool parties and barbecue
  • Afternoon walk clubs
  • Book clubs that can be hosted in common areas

Don’t forget about work-from-home culture

Another major factor in savings is the trend of many renters working remotely. Working from home saves time in commuting and getting ready, money on travel, and let’s face it—often peace of mind by avoiding the morning traffic. If your community offers units with space for an at-home office, business rooms, printing stations, or smart home features that make work-from-home a breeze, share the value of those benefits.

Educate staff on responding to pricing questions

Rates and budget can be sensitive topics, so it is important to educate staff on your team’s policies. Make sure your team aligns on the best ways to approach conversations on any rate increases that occur, whether that’s in initial communications, during property tours, or even in review responses.

This is also critical for reputation management, because rates can be a topic that renters bring up in their reviews of your property. Your property’s responses to reviews that mention rates are opportunities to address questions around fair pricing and show prospects that you take these matters seriously.

Raise the perceived value of your property with branding

Every expense comes with the question of “Is this worth the cost?” If rates are higher or there are added fees, renters will want to know why. Your property’s brand is often the answer to that question.

In a multifamily master class, branding maven and RentPath CMO Kathy Neumann talked about the importance of brand value for properties. She shared that weaving brand value into every detail is critical—especially when it comes to affordability-focused renters.

For example, if you’re known as a luxury community with best-in-class service, those elements stand out to renters, from the way staff answers the phone, to the website design and the apartment features.

Elevate the currency of your property’s brand by looking at it through the lens of what you offer renters. Opportunities to strengthen a renter’s perceived value of your community are in every detail, including onsite operations, your apartment listings, the community itself, and marketing.

About the author:

Rachel Richardson is a Demand Generation Specialist with RentPath, a digital marketing solutions company.

Why Customer Service Is An Important Part of Fair Housing

No Wonder Smaller Landlords Want To Call It Quits

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By The Editors
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No Wonder Smaller Landlords Want To Call It Quits

Many smaller landlords are compelled to call it quits and get out of town as the more the rental market is regulated, the more “unintended consequences” arise creating more problems.

By Ron Garcia
Rental Housing Alliance Oregon

June is here. The Portland Rose Festival is happening at Waterfront Park. The NBA playoffs, Stanley Cup finals, and Indy Car races are all running at full speed. Golf courses and hiking trails are packed, and rush-hour traffic is at a standstill, exaggerated by summer roadwork and detours. Google calendars are jammed with happy hour events and networking groups and business coffees and lunch appointments. Zoom meetings are now arranged only for their convenience rather than their necessity. Everyone seems to be making vacation plans despite higher gas prices, while real estate values continue to rise.

It could easily lead us to forget that the COVID-19 pandemic ever happened. Except that it did, and it is still threatening, and there are reminders everywhere we turn. Its negative effects linger in cautious handshakes and arise every time someone sneezes in public or stands apart while wearing a mask.

As a landlord, you may still be feeling the throbbing headache of your tenants’ unpaid rent as they continue to be protected under Oregon’s Safe Harbor regulations. Today it’s not uncommon for tenants who had been approved for Emergency Rental Assistance, and who were already paid thousands of dollars for back-owed rent by the state, to still be delinquent either for recent months or for some gap that occurred in 2020 or 2021 that remained uncovered and unpaid by any assistance dollars.

It is frustrating especially to smaller landlords who are straddled with mortgage payments and burdened by a lack of income from their investment property. They are unable to terminate the tenancy to either sell or re-rent the unit and they can’t do much about raising old, below-market rents beyond the small percentages now prescribed by state law.

Many tenants are equally distressed because they have been incentivized by the state to not pay rent. They have fallen behind beyond any amount they might qualify for, even if their applications for assistance get approved. Those dollars are drying up and OHCS announced that the portal has closed. Meantime, the market has tightened up with very few vacancies and higher rents, so tenants are now left with limited alternatives for replacement housing when that day finally comes, and they are forced to pay up.

How did we get here? The more the market is regulated, the more “unintended consequences” arise creating more problems. The pandemic was not the only catalyst creating bad regulations, but it sure piled a lot more of them on! Hello – is anybody home?

One example is a law passed last year called SB 291. It’s a requirement to lower screening guidelines stating that criminal backgrounds should rarely be used as they do not indicate an applicant’s ability to pay rent.

Consider this: When an existing tenant feels threatened by a newer neighbor’s behavior, they are also generally too intimidated to testify against it, thus providing the landlord with little or no ability to terminate the bad actor for cause. So, what happens? The existing neighbor moves out and is now forced to pay a much higher rent for a new unit. Then, what happens to that vacancy? The landlord renovates it and raises its rent, of course, to cover their losses. Is this any way to solve affordable housing issues? Are lawmakers so far removed that they don’t see what is actually happening at home?  And even though both the landlord and the existing tenant were each negatively affected by this forced arrangement brought on by a convoluted regulation, some advocates try to use these optics to “prove” that discrimination exists and that the only thing that matters to landlords are higher returns.

Many affordable housing advocates are now using the homeless crisis to demand even more regulation. As they re-brand the problem as “houselessness,” it’s easy to see where they expect to find solutions. Wide-ranging, all-encompassing statutes that claim to defend and protect classes of people who are disproportionality affected and who are rent-burdened due to long-standing social injustices are having the exact opposite effect on the people they claim to be defending.

No wonder so many smaller landlords are compelled to call it quits and get out of town. We need a break!

Affordable and safe housing is paramount to a thriving community. We elect lawmakers to help create solutions to improve the well being of us all. As we collectively relax this summer in our re-opened social endeavors, let’s all agree to write a postcard to our representatives at the state house and tell them our stories of frustration. Maybe let them know that “we wish they were here” to protect us, too.

About the author:

Many smaller landlords are compelled to call it quits and get out of town as the more the rental market is regulated, the more “unintended consequences” arise creating more problems.
Ron Garcia

Ron Garcia is Executive Director of Public Policy at Rental Housing Alliance Oregon. He can be reached at [email protected]

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Changes to Tenant Screening in Senate Bill 291

Portable Cooling Devices and the ORLTA: How SB 1536 Affects You

Application of Rental Payments – A Reminder About ORS 90.220(9)

Multifamily Rent Growth Continues To Defy Gravity

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John Triplett
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Multifamily Rent Growth Continues To Defy Gravity

Multifamily rent growth continued its strong run in May even as year-over-year rent growth decelerated slightly to 13.9 percent. However, demand remains robust and regionally broad-based, according to Yardi Matrix in its May multifamily report.

“Multifamily rents continue to defy gravity, increasing a robust $19 in May to a U.S. average of $1,680,” the report said.

“Decelerating economic growth and concerns about gas prices and inflation have not eroded multifamily demand much, nor slowed down the upward climb of rents.”

Some highlights of the report:

  • Multifamily performance continues to outpace every year other than 2021. The average U.S. asking rent rose $19 in May to an all-time high of $1,680.
  • Year-over-year growth decelerated by 40 basis points to 13.9 percent. That’s 130 basis points off the peak last summer, but still exceptional performance.
  • Demand and rent growth continue to increase throughout the country. Rent growth rose at least 10 percent year-over-year in 26 of Yardi’s top 30 metros.
  • The average single-family asking rent increased by $19 in May to $2,038, as year-over-year growth dropped by 70 basis points to 12.7 percent. Although the national occupancy rate fell 0.2 percent, the sector will continue to ride strong demand, especially as home sales wane due to higher interest rates.

The report also points out the continued growth of metros in the Sun Belt – especially Florida, Texas, and Arizona – which are benefiting from migration due to the inflow of population and jobs. Gateway metros continue to rebound from the pandemic slump, backfilling the renters who moved to suburbs and/or more affordable places during the pandemic. Now there are a new set of households that want an urban experience.

Multifamily rent growth continued its strong run in May even as year-over-year rent growth decelerated slightly to 13.9 percent

Interest rates are affecting transactions

The increase in interest rates shows that transaction activity is slowing.

“Buyers using leverage of 70 percent or more are finding that financing is drying up, and deals with aggressive bids have fallen through. Property values—which rose around 20 percent in 2021—are down 10-15 percent, based on reports from investors and sellers.

“However, the change in pricing has been slow to be recorded because many sellers are holding out rather than accepting lower bids,” the report says.

Conclusion

“The expectations for solid rent growth in coming years should prevent acquisition yields from ballooning, even if rates keep increasing.

“Even taking the bullish expectations into account, however, investors and lenders must heed the lesson of the Global Financial Crisis and maintain discipline, avoiding underwriting unrealistic assumptions into transactions,” Yardi Matrix says.

Read the full report here.

About Yardi Matrix:

Yardi Matrix researches and reports on multifamily, office and self-storage properties across the United States, serving the needs of a variety of industry professionals. Yardi Matrix Multifamily provides accurate data on 18+ million units, covering more than 90 percent of the U.S. population. Contact the company at (480) 663-1149.

Multifamily Rents Defy Expectations And Keep Climbing

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Seattle Mayor Vetoes Plan To Make Landlords Report Rent They Charge

By
John Triplett
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See the article from the Washington Multi-Family Housing Association on what owners and investors say about new rent control in Washington.

Seattle Mayor Bruce Harrell has vetoed a Seattle City Council ordinance that would have required landlords twice a year to report the rent and other fees they charge for each rental.

The council can override the veto but observers say that is unlikely because it would take 6 votes and the original proposal passed by a 5-4 vote.

Testifying before the council when the original ordinance passed, landlords said it would require them to reveal confidential business information and could contribute to property owners deciding to sell their rentals. It was also unclear has to how accurate the reporting would be.

In a letter to the Seattle City Clerk, Seattle Mayor Harrell said, “I have the utmost respect for the legislation’s sponsors who seek quality data to make policy decisions. However, I do not believe CB 120325 will achieve its stated aims; the reliability of the data’s accuracy will be questionable according to the University of Washington; it will be costly to create with no funding source identified; and it will be difficult to implement in enough time to inform the update to the City’s Comprehensive Plan.”

Harrell also wrote in the letter that James Young, Director of the University of Washington’s Washington Center for Real Estate Research, “makes a convincing case that a mandatory system compelling landlords to provide commercially sensitive business information about the size, characteristics, price, and occupancy status of rental units is unlikely to yield reliable data.

“Beyond problems with the approach, the likely financial costs associated with designing a mandatory reporting system are too high. City department staff provided estimates that the costs to stand up a new system and provide staffing support could be at least $2 million and as much as $5 million – money that could otherwise directly serve people suffering in the ongoing homelessness crisis.”

City Councilmembers Alex Pedersen and Tammy Morales  expressed disappointment in Mayor Bruce Harrell’s veto of their legislation to collect data about rental rates in the City of Seattle.

“I am deeply disappointed our solution to collect housing data helpful for preventing displacement of economically vulnerable people was not signed into law. Similar laws to collect rental housing data are already in place throughout the nation, so the veto means Seattle is still behind the times,” Pedersen said in a release.

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Seattle Landlords May Have To Report How Much Rent They Charge

What Does Landlord Insurance Cover?

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By The Editors
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What Does Landlord Insurance Cover?

Owning and renting real estate can prove to be one of the best decisions you make in your financial life. Yet, in order to protect your investment, you have to have proper insurance in place. Many more people are renting than used to, and each one needs a quality place to call their own. While the number of rental units grows, it is the responsibility of the investor and landlord to do what they can to minimize the risk of financial loss. One component of that is having landlord insurance coverage in place.

Consider the risks to your investment. A storm could lead to a lightning strike that causes a fire. That could damage your property considerably, and the repairs would have to come from your pocket. What if someone vandalizes your property? There is no way to prevent all types of risks from occurring, but there are steps you can take to ensure your financial integrity.

What Is Landlord Insurance?

Landlord insurance provides financial protection for rental property owners. It covers the financial losses you suffer as a result of covered incidents. When a tragedy strikes, you want to know your property is going to be repaired or replaced for you.

Keep in mind that most insurance companies require you to alert them if you are renting the property owner. This may change your coverage needs as well as your costs.

A landlord insurance policy is often the best choice. It provides ample coverage for many of the risks you are most likely to face. Consider some of them.

Coverage in a Landlord Insurance Policy

Insurance companies vary significantly. Many of the following coverages are a part of landlord policies. There are three main components of these policies. Within each type are several ways the policy can help you.

Dwelling Coverage

This component of landlord insurance typically covers the physical damage to the property. Some coverages include:

Fire Damage

If your property suffers fire damage that you did not cause, the policy may apply. In this situation, it may cover the damage to the structure so you can make repairs or rebuild it in some situations. It also covers your contents – the items you own that are within the structure.

Water Damage

Many types of water damage may be covered under your policy. That includes the water heater breaking or the pipes freezing in the middle of the winter. It may not cover all types of flooding, though. You’ll need flood insurance in some areas to minimize this risk.

Windstorm, Hail, and Lightning 

Most of the time, landlord insurance covers damage brought on by storms. That includes falling tree branches that damage the roof of the home. It may cover damage to windows and the roof from hail strikes. If lightning hits your home, causing damage or a fire, this component of property damage will help you recover by paying for those losses.

Riot and Civil Commotion 

Your landlord insurance may also cover the cost of repairing the damage that is brought on by rioting and civil commotion. Be sure that you verify that this is a part of your policy if it is a valued feature to you. Policies vary in terms of what they will and will not cover under this.

Vandalism 

Should someone cause damage to the property as an act of vandalism, your landlord insurance policy may be able to help. This could include repairing broken windows, cleaning off graffiti, or handling other types of damage caused by vandalism. Keep in mind that this applies to vandalism done by a person that does not live within the home.

Burglary 

Should a person break into your home or otherwise steal your personal property, your insurance policy may help to cover those losses. This includes damage to the property – such as a broken door or window to get in – as well as the loss of your belongings. Your policy may offer actual value coverage or replacement cost (depending on what you select). Be sure to know that your landlord policy covers the loss of your belongings, but not the loss of those of your renter. They can purchase a separate renter’s policy to cover their losses.

Liability Insurance

Another component of your landlord policy covers liability risks. Liability occurs when someone files a claim against you because of an accident or incident that occurred while on your property and believes you are responsible for making it right. Legal liability is a critical component of your property. In some situations, your renters, a person walking by the home, or even a visitor on the property may be hurt while there. If they fall and hit their head, they could be facing thousands of dollars in loss. You could be responsible for those costs if they show that the property was unsafe and caused that accident to occur.

Liability insurance helps you in several ways. It may help to pay for the individual’s losses. It may also help you in a court of law, helping to provide you with an attorney who can defend your case. If a settlement or a judgment occurs, the insurance company pays that up to the maximum coverage of the policy.

Umbrella Coverage 

Umbrella coverage is a type of liability insurance that goes up and over the amount of liability policies. Today, lawsuits often lead to a significant amount of loss. A basic liability insurance policy may not be enough. This type of policy adds another layer of protection for you in this situation. It could help cover more of the medical losses a person has as well as the settlement or judgment against you.

Loss of Income Insurance

The third type of coverage provided by landlord insurance is loss of rent or loss of income, which is applicable as part of a covered claim. When something significant occurs to the property that makes it unable to be rented out at least for a period of time, this component of the insurance policy works to help you. It can help to cover a portion of the rental income you were getting prior to the incident, allowing you to meet your financial obligations while you cannot rent out the property.

Additional Components of Landlord Insurance

There are other components that may be applied to your landlord insurance. If these situations apply to you, be sure to speak to your real estate agent about your needs for this type of custom coverage.

Fix n’ Flip and Builder’s Risk Insurance

It is not uncommon for investors to purchase a property that they plan to fix and then flip. This type of process is difficult because you may not know exactly what types of problems will exist when you start working on the project. Builder’s risk insurance may offer the help you need. It helps to cover certain types of property damage that occur during the repairs. It may provide protection while the property is under construction, including damage from fires, lightning, vandalism, theft, explosions, and others.

Short Term / Vacation Rental

If you are planning to rent your property out for short-term rentals, especially for vacation rentals, it is critical to have a policy that defines that specific type of use. Vacation rentals are a higher risk to insurance companies than a typical renter who is more likely to care about the property itself. Your insurer wants to be sure that they fully understand the risks associated with the property, so they can be sure you have enough coverage for those risks.

What Does Landlord Insurance Not Cover?

When it comes to selecting the right type of insurance for your needs, you need to know what is covered and what these policies do not cover. The only way to know that for sure is to read the terms and conditions of the policy you are selecting. This can vary from one policy and one insurer to the next.

Some of the most important exclusions to landlord insurance include the following:

  • The tenant’s property – most policies do not cover the tenant’s property, and many landlords require or encourage renters to obtain their own policy for these items.
  • The tenant’s car – the same applies here, as the tenant should seek out their own coverage
  • Landlord insurance does not cover repairs to major systems
  • It does not cover damage caused by the property owner, such as if a property owner causes damage to the rental itself
  • It does not cover anything that stops working due to normal wear and tear or a lack of maintenance

How Much Can You Expect to Pay for Landlord Insurance?

The only way to know what you can expect to pay for landlord coverage is to request a formal quote. Your location, the type of property the risks present, and more factors all play a role in the costs. Landlord insurance is typically based on risks present, as well as the value of replacing your policy or the amount of coverage you want to purchase, in the case of liability protection. A general rule of thumb is that landlord insurance costs 20-25% more than traditional homeowners insurance.

Get a quote with Steadily in minutes to determine what the best level of insurance coverage is for your needs.

 

How A “Property Specialist” Can Streamline Your Rental

By
By The Editors
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https://www.rentalriff.com/

By Phil Schaller

Being a landlord can be challenging. Finding the right tenants, navigating pandemics, ever-changing landlord/tenant laws, fixing the kitchen sink that’s leaking, the list goes on. Luckily here at RentalRiff, we’ve come up with a cost-efficient solution to take a lot of the burden from landlords.

What exactly is a property specialist?

A property specialist is a licensed/insured general contractor or professional handyman who serves as the main point of contact for the tenants and can help out with any repairs or property-level support. Every RentalRiff property specialist goes through a lengthy interview, trial, and training process before starting to work with our customers.

We put a huge emphasis on customer service, punctuality, and communication skills as it is critical to providing a successful solution (we also leverage quite a bit of technology to assist with this). At the end of the day, property specialists are simply good people who communicate well and can fix just about anything.

What kind of work can a property specialist do?

Our property specialists are very well-rounded and can tackle just about anything themselves. The services a property specialist can provide fall into ad-hoc repairs/maintenance, preventative maintenance, turnovers, showings, improvement projects, and tenant support (if a tenant can’t program the thermostat, for example). Here is a more detailed list of skills property specialists possess.

Of course, there will always be situations where outside help will be needed (replacing a sewer line, for example), but in 2021 our specialists were able to complete 91% of all tenant/owner requests themselves. We have a large team of specialists who can hop in and help, or we can tap into our network and bring in outside folks.

How exactly does it work?

It’s a pretty straightforward process – when a new customer signs up, we assign a property specialist who is on-call for the property (or properties). Tenants can reach out directly to their property specialist with any questions or property needs, and the specialist will head over to the property and address the situation.

No more fielding tenant requests, finding a handyman or pro, and coordinating the whole process. Your property specialist will know the property, know what to do, and the tenants know who’s coming over to help – the landlord can sit back and relax.

How much does it cost?

There are a few different plans landlords can choose from (based on the amount of included maintenance and based on property type), but overall our service is significantly less than hiring a property manager. Take our Standard Plan for a single-family home: the cost is $140/month and includes 1 visit to the property every month. If you were to hire a property manager they’d charge 10% of the monthly rent collected, and you’d pay for any handyman or maintenance visits on top of that.

If you take a property that charges $3,000/month in rent, you’d be looking at $3,600 for the year and zero maintenance included. With RentalRiff, you’d be looking at $1,680 for the year and ample maintenance included (and we believe a much better experience for your tenants).

What about tenant experience?

Tenant retention is a critical element of running a successful rental. Vacancy costs money via lost rent, turnover costs, time finding a new tenant, etc. The tenants we work with absolutely love our service. They feel supported, property needs are addressed quickly, and they know the person coming over to help (as opposed to a stranger from the internet).

There’s a better way to be hands-off, make sure your property stays in great shape, and provide a fantastic support system for your tenants. Happy landlording!

About the author:

Phil Schaller is an experienced landlord and the founder/CEO of RentalRiff – an alternative service to traditional property management. With RentalRiff, landlords can hire a dedicated “property specialist” (licensed/insured general contractor or handyman) who will provide ongoing support and upkeep of rental properties, while serving as the main point of contact for tenants. Maintenance and repair costs are included in the monthly fee. Phil is a Pacific Northwest native, father of two, and fly-fishing addict. You can reach RentalRiff at 541-600-3200.

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Federal Appeals Court Skeptical of Criminal Background Check Rules

By
John Triplett
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Federal appeals court skeptical of Seattle criminal background check law

A federal appeals court panel has appeared skeptical of a Seattle law preventing landlords from inquiring about the criminal background checks of prospective tenants, repeatedly wrestling with whether the law violates landlords’ First Amendment rights, according to a report in Law360.

The United States Court of Appeals for the Ninth Circuit panel appeared skeptical of a district court’s decision to uphold the Seattle ordinance.

A group of landlords is appealing the district court’s ruling upholding the city of Seattle’s Fair Chance Housing Ordinance, one of the first of its kind in the nation, which prevents landlords from seeking out otherwise publicly available criminal information on prospective tenants or denying tenancy based on criminal history.

“I think you are looking at judges who are wrestling with the free-speech claims,” Circuit Judge Kim McLane Wardlaw told Roger D. Wynne of the Seattle City Attorney’s Office when he tried to pivot away from his free-speech arguments, Law360 reported.

Wynne told the panel the law does not regulate speech, but that if it does, it is only commercial speech, which meets the court’s intermediate-scrutiny standard.

Ethan Blevins of the Pacific Legal Foundation, who represents the landlords, told the panel the ordinance does not meet the intermediate-scrutiny standard because it is not narrowly tailored. He said the city council relied on some studies that should have found the ordinance is unnecessary, including a survey in the 1990s that showed landlords are largely open to renting to tenants with criminal histories as long as it didn’t threaten other tenants’ safety.

Judge Wardlaw told Wynne the criminal background check ordinance “seems overbroad” and may not meet the intermediate-scrutiny standard established in the U.S. Supreme Court’s 1980 ruling in Central Hudson Gas & Electric Corp. v. Public Service Commission of N.Y.

Seattle passed its law in 2018, and it was challenged that same year in state court by the landlords and the Rental Housing Association of Washington, a membership organization that provides screening services. The lawsuit was removed to federal court, with a district judge eventually granting summary judgment in favor of the city.

Read more here.

Why Tenant Screening Must Include Nationwide Checks

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Seattle Landlords May Have To Report How Much Rent They Charge

By
John Triplett
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Seattle Landlords May Have To Report How Much Rent They Charge

The Seattle City Council has approved an ordinance requiring landlords twice a year to report the rent and other fees they charge for each rental, according to reports.

Also in the required reporting by landlords will be square footage, number of bedrooms and bathrooms, and whether the house or apartment is occupied.

The entity that the landlords are to report to still seems unclear, other than a “research university” that has not been determined.

Here is a summary of the ordinance that passed:

“This legislation would require landlords to submit a certification to the Seattle Department of Construction and Inspections (SDCI) that the landlord provided information about rental housing units and rent to a third party like a research university for analysis.

“The information the landlord would be required to submit would include whether a rental housing unit is vacant or occupied; the net rentable square footage; the number of bedrooms; the number of bathrooms; housing costs or to-be-charged if the unit is vacant (“housing costs” includes rent and any periodic or monthly fees for other services such as storage and parking paid to the landlord by the tenant); the cost of utilities; and the length of a rental agreement.

“The legislation would require the owner to furnish information to the research university the city chooses twice a year. The legislation does not request personally identifiable information of the tenants,” the ordinance reads.

Seattle landlords oppose the reporting requirement

An amendment passed by the council said the information Seattle landlords submit to the university “should be made available to the public.”

Testifying before the council, landlords said the bill would require them to reveal confidential business information and could contribute to property owners deciding to sell their rentals.

“We are providing a dwindling number of Seattle’s affordable missing-middle-rental housing options, yet (the) council continues to exclude us,” said Ballard landlord Angie Gerrald, according to the Seattle Times.

Why council members want the information

The newspaper reported that council members offered various reasons for wanting the data, from guarding against displacement of low-income tenants to making the case for more affordable housing.

Councilmember Alex Pedersen, who sponsored the ordinance, said the city lacks information about “nonsubsidized housing that happens to have below-market rents or more affordable rents,” during a recent committee meeting.

“We don’t know exactly where that housing is and we need to know that as we make decisions such as updating our Comprehensive Plan,” he said, referring to the city’s 20-year planning document that influences where the city allows denser housing and other growth.

Councilmember Tammy Morales said the data would help the city track how rents are climbing.

Will Landlords Comply?

The legislation builds off of the requirement that landlords register their units with the City. But there is a question on how many have actually done so.

As passed the ordinance calls out the potential of noncompliance, according to mynorthwest.com.

Currently, the city’s office of building inspections fines non-compliant landlords $150 per day for the first 10 days and up to $500 per day after that. Failure to not submit the information requested under the new legislation would result in a $500 first-time penalty, and $1,000 fines for subsequent violations.

No Wonder Smaller Landlords Want To Call It Quits

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The Opportunity to Increase Energy Efficiency in Rentals

By
By The Editors
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Landlords and renters are in it together as they work together towards energy efficiency in rentals.

Landlords and renters are in it together as they work together towards energy efficiency in rentals.

By Greg Fasullo

Consumers are increasingly seeking ways to decrease their carbon footprint and use energy more efficiently. The best place to start? At home.

A considerable decarbonization opportunity exists in the energy consumed by homes. Residential energy consumption accounts for nearly 20 percent of U.S. energy-related greenhouse gas emissions. That’s more emissions than Germany puts out, and approximately the same as Brazil.

Single-family rental homes (SFRs) have recently experienced substantial growth within the U.S. rental inventory. Their share of the market is currently valued at approximately $4.4 trillion. With the SFR market projected to further expand and become 12 percent of all new homes built over the next decade, there is a huge opportunity to increase sustainability efforts.

By following a process that involves pairing focused energy-efficiency upgrades and behavior changes with data driven by technology, major carbon reductions can be achieved. Rental operators and institutional landlords will see multi-faceted impacts — they’ll maximize savings and cut extra costs while working towards a more sustainable future.

Addressing Inefficiencies by Implementing Sustainable Solutions

Inefficiencies across SFR homes are rampant, from improper insulation to outdated appliances. In fact, American renters use nearly one-third more energy per square foot than homeowners do, especially when utility costs are fixed and bundled with rent. To address these opportunities for energy and cost savings, SFR operators must begin by conducting energy audits across their rental portfolios. These audits can pinpoint a rental property’s energy drainers and provide a tangible starting place for cutting energy usage at scale. An energy audit provides actionable data, and when weighed against the data from other rental portfolios it provides the necessary insight to define benchmarks and identify areas of improvement or success in energy efficiency.

Properly reducing emissions in SFRs comes largely through changing behavior, in the forms of both human and appliance behavior.  Improving appliance behavior includes making informed maintenance decisions, taking advantage of appliance-technology capabilities, and weighing the benefits of replacing old appliances with newer, often more energy-efficient options. None of this is possible or effective without information from regular energy audits and ongoing energy monitoring benchmarked against large data sets in the SFR industry.

After all, you can’t manage what you can’t measure.

Changes in human behavior are also aided by the same process. Rental operators and institutional landlords can make informed decisions on energy-efficiency, from smaller items such as window and door insulation, to larger system upgrades such as solar panels and residential batteries. Renters and SFR occupants can also use their desire to reduce emissions and save money to shape behavior changes. This can take many forms, including understanding and implementing best practices around heating and cooling as well as taking advantage of natural light during the day.

Holistic Energy-Efficiency is an Investment for All

Ultimately, landlords and renters are in it together. As they work together towards energy-efficiency in rentals, they’ll share the benefits that will follow. Air quality will improve. Money will be saved. Carbon footprints, both individual and institutional, will be reduced. They’ll make their homes stand out through investing in energy-efficiency and renters will be proud to live there.

About the author:

Greg Fasullo is CEO of Elevation, an energy solutions company targeting the single-family rental market with an energy-efficiency platform. Fasullo is an executive and entrepreneur with three decades of experience in technology, innovation and ethical capitalism

Renter Preferences Survey Report Shows The Future Is Remote Work

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Why I Like My Rental Properties’ Nosy Neighbors

Three Steps to Becoming a Successful, Lazy Landlord

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