Arizona RHJ April 2018 by Professional Publishing, Inc

Rental Housing Journal Arizona

April 2018 - Vol. 10 Issue 4

Toys R Us Downfall Reiterates Changing Retail Climate

Renters Feelings about Buying Diminish as Rates Climb amid Tight Inventory

Confused Over Service, Assistance and Emotional Support Animals?

Apartment Amenity Company Partners with Denver Property Manager

11. How Your Terms, Conditions or Privileges Could Mean Discrimination

20 Easy, Affordable Maintenance Projects to Update your Rentals

Millennials Spend about 45 Percent of Income on Rent Before Age 30

New Apartments Feature Innovation in Design in Washington, DC

rentalhousingjournal.com • Professional Publishing, Inc MONTHLY CIRCULATION TO MORE THAN 7,000 APARTMENT OWNERS, PROPERTY MANAGERS, ON-SITE & MAINTENANCE PERSONNEL

A How Important is the Front Door to your Rental Property?

he look, feel and features of a rental property’s front door are more important to tenants than landlords and property managers might think.Front door material and look is the maintenance checkup from Keepe this week. The front door is one of those subtle elements that can actually make a big difference to the overall feel of a property. Experts point out that a property’s front door can actually be responsible for significant fluctuations in the value of the property. Potential tenants will likely take notice of a damaged, flimsy or olderlooking entryways. They could interpret this as a sign of lack of upkeep for the property or concern for the well-being of tenants. Additionally, a damaged front door can make it easy for burglars to identify a certain property as one that they could successfully break into. Pros and cons of front door material for your rental property Purchasing a brand new front door is not be a routine expense. So if you are thinking of replacing old doors or upgrading doors on your property, ...continued on page 10

Phoenix, Denver, Seattle, Top Hot Spots for Apartment Jobs

partment jobs listings jumped up 18 percent in February over January, according to the apartment jobs report from the National Apartment Association Education Institute. The increase in the number of apartment job listings in February certainly involves some seasonality factors as 2018 hiring plans took firmer hold, according to Paula Munger,

Director, Industry Research and Analysis, for the National Apartment Association (NAA). Phoenix Denver, and Seattle maintained spots in the top three metro areas for apartment jobs as a percent of the entire real estate sector, signaling increasingly competitive job markets where qualified candidates have plenty of choices, she said. Construction manager positions

took the longest to fill, at 44 days, as the construction sector overall has experienced a long-term labor shortage. By contrast, owners and operators looking for administrative positions can typically fill these jobs in less than a month. This month’s snapshot focused on the leasing consultant position, with job postings across the country showing a ...continued on page 8

10 Things to Consider Before Investing in a Pool for Your Rental by Keepe

roperty managers and renters may view a pool for your rental property as an appealing feature that can de help attract new tenants and keep current tenants happy. But pools also come with a maintenance price tag and that is the maintenance checkup from Keepe this week. Building a swimming pool on-site may not always be a good option so there are some issues to consider. Here are 10 things to consider before building a pool for your rental property. 1. A pool for your rental can be dangerous Pools can represent a serious and potentially deadly danger for those who do not know how to swim, especially children. Making a pool available to residents will require implementing effective safety measures to eliminate the danger of accidental falls or easy access for unsupervised children. 2. Safety is necessary but expensive A property owner and/or manager can be held liable for injuries caused by negligence. Implementing safety measures will be necessary, and those

measures will come with a price tag. From building fencing and a lockedgate system to hiring a seasonal lifeguard, expenses should be expected. 3. Return on investment is not ideal

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In most cases, building a pool for your rental property is an expensive project. While it can raise an estimated five percent to a property’s value, you ...continued on page 4

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Rental Housing Journal Arizona

Toys R Us Downfall Reiterates Changing Retail Climate

Potential Retail Replacements to Emphasize Experiences

New age of retail forces adaptation. The rapidly evolving retail landscape bypassed Toys R Us, resulting in a bankruptcy protection filing and ultimately the announced closures of roughly 800 locations. Wellestablished brands shuttering stores have become a common theme in recent years as companies who fail to adapt to the new retail reality operate with outdated strategies. The company’s weakened balance sheet hampered efforts to make investments to modernize its business model and compete with Amazon, Walmart and Target. Due to the firm’s limited online capabilities and inability to transform into an experiential retailer, consumers soon found quicker and cheaper ways to purchase toys that

bypassed this traditional toy powerhouse. Strong Internet competition led to Toys R Us’ diminishing market share and the competitive gap slowly widened until it was beyond the company’s ability to bridge. Vacated space a boon to some investors and retailers. Markets with low retail vacancy and large Toys R Us footprints may be positively impacted by the company’s liquidation. The soon-to-be vacated stores could bring much needed retail space to the market. In metros like Boston and Pittsburgh where vacancy is forecast below 3.5 percent this year, tight market conditions hinder retailers’ expansion efforts. An influx of space coming available in San Diego and

Northern New Jersey could also provide relief to retailers struggling to find locations, particularly in San Diego due to its thin retail completions over the past several years. Conversely, metros with high vacancy could encounter new challenges from the addition of available space. RiversideSan Bernardino, Houston and Detroit face this risk; more than 420,000 square feet of Toys R Us space will soon be vacant in each metro. Moving rents to market could be silver lining for some investors. Due to the lengthy leases of many Toys R Us locations, the closures will give landlords opportunities to adjust rents to match current market conditions, as many of the lease agreements include below-market rates. The ample amount of space anticipated to come online in the following months should support more competitive rents in neighborhoods most affected by the company’s liquidation. Landlords will soon have the option to choose a tenant better positioned to compete in the dynamic retail climate. Although the number of retailers targeting 30,000- to 40,000-square-foot locations is limited, many retailers capable of filling these spaces have reported strong performances in recent years and are seeking expansion. Strong Group of Retailers Expected to Show Interest Vacant Toys R Us stores will present companies with opportunities to broaden their footprint and gain market share in their respective industries. Fitness centers have been expanding at a rapid pace as they attempt to keep stride with the growing healthconscious community. Gyms act as a junior anchor for strip malls and power centers due to their propensity to increase foot traffic. Expanding grocery chains could potentially seek some of the dark locations as

they are the ideal size for many companies. Grocer brands with traditionally larger layouts may also target the shuttered stores as they shift to smaller formats attempting to maximize sales per square foot. In 2017, supermarkets’ net store growth was the fifth highest out of 10 retail segments with 674 new

locations. Discount retailers like Ross and T.J. Maxx are also feasible tenants as they have some locational flexibility due to their brand-based consumer appeal. Landlords to Adapt to Evolving Marketplace ...continued on page 11

Rental Housing Journal Arizona · April 2018

Rental Housing Journal Arizona

20 Easy, Affordable Maintenance Projects to Update your Rentals

he smaller maintenance jobs that improve the look and feel of a rental space and make it feel welcoming can really help when it comes to landing that next tenant is the maintenance checkup from Keepe this week. This week’s post will list easy and affordable maintenance projects to update every room. These small improvements and investments really go a long way. 5 front and outdoor improvements 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 naturallooking finish. 5. Repainting or replacing mailboxes - Tenants will notice and appreciate

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Rental Housing Journal Arizona · April 2018

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 kitchen ideas 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 ...continued on page 8 3

Rental Housing Journal Arizona

Confused Over Service, Assistance and Emotional Support Animals? By Ellen Clark

he Grace Hill training tip of the week focuses on the confusing issue and definitions of service animal, assistance and emotional support animals. You probably hear the terms service animal, assistance animal, and emotional support animal a lot. But do you really know what these terms mean? If not, you are not alone! There are three laws that relate to rental housing and service and assistance animals: The Fair Housing Act (FHA) Section 504 of the Rehabilitation Act of 1973 (Section 504) The Americans with Disabilities Act (ADA). The FHA applies to almost all rental housing. Among other things, it prohibits discrimination based on disability and requires housing providers to make reasonable accommodations for people with disabilities, such as making an exception to a no-pet policy or a breed restriction. Housing that receives federal financial assistance from the U.S. Department of Housing and Urban Development (HUD) must also comply with Section 504. Like the FHA, Section 504 prohibits discrimination based on disability and requires housing providers to make reasonable accommodations for people with disabilities. Whereas the FHA and Section 504 prohibit discrimination in housing, the

ADA prohibits discrimination based on disability in all areas of public life, including schools, transportation, and all public and private places that are open to the public. What does this mean for you in relation to support animals? The ADA requires you to let service dogs accompany their owners in any area of the community that is open to the public, such as the leasing office. These laws use different terms and definitions, which can be confusing. The ADA uses the term “service animal” and defines it specifically as a dog trained to do work or perform tasks for people with disabilities. The FHA and Section 504 use “assistance animal” as a broad term to describe any animal that works, provides assistance, or performs tasks for the benefit of a person with a disability or provides emotional support that alleviates one or more symptoms or effects of a person’s disability. Under the FHA and Section 504, service animals, emotional support animals, and companion animals are all considered assistance animals. An assistance animal may be any type of animal and is not required to have specific training. The ADA uses the term “service animal” and defines it specifically as a dog that has been individually trained to do work or perform tasks for people with disabilities. Emotional support animals, companion animals ...continued on page 6

Pool ...continued from 1 chemicals can cause tenants to get are not likely to get that back when the 5. Routine maintenance is a must property is sold. The market demands Regularly scheduled pool sick and/or experience reactions to in a certain area will dictate the value maintenance is a must to guarantee it the chemicals. Managing and adding of a property and of the addition of the is clean and safe. Outdoor pools are chemicals to the pool should only be pool, not the- Rentegration.com exact amount that was exposed to dirt, debris and- even insects, left to a qualified, trained professional. Management Database Rentegra1. Access is a web 4. invested into building it. which can is anall easyeasily to use,contaminate database driv- the 7. Mosquitoes love pools too! based, multi-user software offering cus- tion.com en software. Most form fields are auto tomers 24/7 access to forms generation, water. A professional pool maintenance 4. Expect higher- utilities Some areas vulnerable to mosquito 4. Management Database - Rente1. Access is a populated from the database. Theand modarchives, propertyRentegration.com management dataservice should be contacted hired infestations can be even more Operating the pool and additional gration.com is an easy to use, database web based, multi-user software offerare all integrated and together. base, basic accounting, vendor ordering ules to actively maintain thework pool, especially driven software. Most form arerenting -customers access to forms For vulnerable with a pool. Building a pool elements such as 24/7 lighting around example, a customer can fields use the and other services. during the warmer seasons. generation, archives, system property - manautofunction populated the all database. The in those areas will require extensive and the pool or the filtering will roll to from identify delinquencies, agement database, basic -accounting, mod- fees, ules are all integrated andforms workwith 2. Rental and Lease Forms Unlimited apply and create eviction requirevendor higher usages of water and 6. Careful regular maintenance and treatments by with chemicals other services. For clicks example, a customer use of a fullordering line of and state specific rental atogether. few simple of the mouse. can a pest control specialist. electricity, which translates into a more Pool maintenance includes the use and 2.lease forms. All Rentegration.com Rental and Lease Forms - Unlimit- use the rent- roll function to identify expensive utilities bill. If you plan to all delinquencies, apply fees, and cre5. Value Large property management forms are ofcreated attorneys ed use a full lineby of state specificand/or rental of chemicals to condition the water, 8. Trespassing and unwanted ate eviction forms withRentegration.com aand fewfor simple that use heatlocal theand pool which needed in some companies Color Standards National keep Ph levels safe, bacteria and Tenant rental associations. leasehousing forms. is All Rentegration.com guestsNetwork Logo clicks of the mouse. for only forms generation will save time of parts offorms the country, it costs even more. are created by attorneys and/or algae out. Improper maintenance Tenants won’t be the only ones 3. Simplified Accounting - Owners

5 REASONS TOTOUSE RENTEGRATION REASONS

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local rental housing associations. and managers can track income and ex3. for Simplified - Owners pense each unit,Accounting property and compaand managers can small tracksize income and ny. Perfect for mid and property expense each unit, property and managers andfor independent rental owncompany. Perfect forneed mid or and small ers, who neither have the budget size property managers and indepenfor larger, more expensive software. dent rental owners, who neither have the need or budget for larger, more expensive software.

• Logos areover providedother on the CDmethods. in all three forms: and money 5. Value - Large property manage- Mid all black, reversed to white, or in PMS 280 Blue/PMS 7543 Gray spot or 4/color applications. wanting to enjoy their new pool. and small size property managers and Please see belowthat for specific examples. ment companies useuseRentegraindependent rental owners can manage Sometimes, unwanted guests might tion.com onlyareforms • No for other colors acceptablegeneration for use for the logo. their entire business at a fraction of the begin accessing will save time and money over other • No altering of the logo is allowed. If you have a special circumstance that requires something not the property’s pool, cost of other and provided onand the CD, please callforms. NTN NATIONAL HEADQUARTERS 1.800.228.0989 for assistance. methods. Midsoftware small size properwhich is not only a nuisance but also • Logos should be put over a busy background. ty managers andnotindependent rental a safety concern. For this reason, owners can manage their entire busibuilding secure fencing or some kind ness at a fraction ofBLACK the cost of other WHITE (with 40% gray circle) of monitoring system might be needed. software and forms.

STATE SPECIFIC FORMS FOR

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5 REASONS TO USE RENTEGRATION

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CHECK-IN/CHECK-OUT CONDITION

REPORT

TENANT(S): ___________________ ______________________________________ _________ ADDRESS: ___________________ _____________________________UNIT: ______________ CITY: ___________________________________ STATE: ________ ZIP: _________________ OR-RTG-24 Oregon

PET AGREEMENT Rating Scale

= (E)Excellent (VG) Very Good

TENANT INFORMATION

(G)Good (F)Fair (P)Poor

IN Out TENANT(S): ____________________________________________________ DATE:________ LIVING AREAS ADDRESS: ____________________________________________________ UNIT: _________ KITCHEN CITY: _________________________________________ STATE: __________ ZIP: _________ Walls

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Keepe is an on-demand maintenance solution for property managers and independent landlords. The company makes hundreds of independent contractors and handymen available for maintenance projects at rental properties.

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48-HOUR NOTICE OF ENTRY

Pursuant to RCW 59.18.150, this is your WA-RTG-20 Washington 48 hour entering the dwelling notice that your

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Windows 1) The pet(s) shall be on a leash or otherwise under tenant’s control when it is outside the Antenna/Cable tenant’s dwelling TV unit. Blinds/Drapes 2) Tenant(s) shall promptly pick up all pet waste from the premises promptly. Fireplace 3) Tenant(s) are responsible for the conduct of their pet(s) at all times. 4) Tenant(s) are liable for all damages caused by their pet(s). Cleanliness 5) Tenant(s) shall pay the additional security deposit listed above and/or their rental agreement as a condition to keeping the pet(s) listed above. 6) Tenant(s) shall notBEDROOM allow their pets to cause any sort of disturbance or injury to the 1 BEDROOM 2 other tenants, guests, landlord or any other persons lawfully on the premises. Walls 7) Tenant(s) shall immediately report to landlord any type of damage Walls or injury caused by their pet. Windows 8) This agreement is incorporated into and shall become part of Windows the rental agreement exe Blinds/Drapes -cuted between the parties. Failure by tenant to comply with any part of this agreement Blinds/Drapes shall constitute a material breach of the rental agreement. Rods

________ UNIT: _________ __________ ZIP: _________

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________ STATE:

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9. Plan on routine updates Over time, pools will need updating. Every five years or so, it is appropriate to check and update the pool with new materials, such as tiles, panels, lighting or draining systems. This PMS 280/PMS over color kind of 7543 preventative maintenance will help avoiding unexpected, substantial damages and will keep the pool looking appealing.

10. Construction can annoy neighbors and residents From a construction standpoint, building a pool requires extensive work. Tenants and neighbors will experience construction site noise and traffic. Generally, it’s always best to notify tenants and neighbors about the project ahead of time and offer support throughout the process. Summary on building a pool for your rental property: For most of us, outdoor pools are the synonym of fun, relaxation and good times in the sun. It can be easy to get excited about having access to a pool as part of one’s own amenities: both property managers and renters alike tend to view it as a unique asset to the property. Especially in warmer geographies, pools are generally quite an appealing feature that can definitely help with attracting new tenants and keeping current tenants happy.

Essential Services

Plumbing

Heating

Electricity

all black, reversed to white, or in PMS 280 Blue/PMS 7543 Gray spot or 4/color applications.

Rental Housing Journal Arizona · April 2018

Rental Housing Journal Arizona

Renters Feelings about Buying Diminish as Rates Climb amid Tight Inventory the financial knowledge or did not know the first step needed to qualify.

decide that this spring is the time to list their home for sale."

here should be a continued good pool of renters for landlords as new research shows many renters feel now is not a good time to buy a home, as interest rates climb and the tight supply of homes for sale continues. Renters and rent payments are going to continue to grow as renters spent a record $485.6 billion in 2017, an increase of $4.9 billion from 2016, according to Zillow research. New consumer findings from the National Association of Realtors (NAR) show that while a growing share of households feel more confident about the economy and their financial situation, those positive feelings are not translating to positive views that now is a good time to buy a home. That's according to NAR's first quarter Housing Opportunities and Market Experience (HOME) survey, which also found that homeowners are increasingly positive about selling, and non-homeowners have anxieties about saving for a down payment and qualifying for a mortgage. Renters feelings about buying diminish Optimism that now is a good time to buy a home is at its lowest share in the past two years at 68 percent down from 72 percent last quarter. Among renters, feelings about buying are further diminished down to 55 percent from 60 percent last quarter. Those most optimistic about buying are homeowners, older respondents and those living in the more affordable Midwest and South regions. "The critical shortage of listings in most markets continues to spark a hike in home prices that is not easy for many buyers – and especially first-time buyers – to overcome," NAR Chief Economist Lawrence Yun said in the release. "Adding more fuel to the affordability fire is the fact that mortgage rates have shot up to a four-year high in just a few months. Many house hunters are telling Realtors® that they are dispirited by the stiff competition for the short number of listings they can afford." "There's no question that a majority of homeowners have amassed considerable equity gains since the downturn. Home prices have grown a cumulative 48 percent since 2011 and are up 5.9 percent through the first two months of this year," said Yun. "Supply conditions would improve measurably, and ultimately lead to more sales, if a growing number of homeowners finally

Consumers feeling more upbeat about the economy and their financial situation Although optimism was a tad higher a year ago (62 percent), more households in the first quarter of this year (60 percent) believe the economy is improving compared to the fourth quarter of 2017 (52 percent). Homeowners, residents from the South and those from rural areas were the most optimistic about the direction of the economy. Stronger economic confidence this quarter also led to households having improved feelings about their financial situation. The HOME survey's monthly Personal Financial Outlook Index2, showing respondents' confidence that their financial situation will be better in six months, rose from 59.1 in December to 63.8 in March. A year ago, the index was slightly lower (62.6). "The jump in optimism to start the year can be attributed to the robust job creation in most of the country, as well as the larger paychecks households are enjoying because of faster wage growth and the recent tax cuts," said Yun. "These three positives should further ignite buyer demand. However, several metro areas with the healthiest labor markets also have the most severe supply and affordability pressures. This troublesome reality is what's dampening moods and keeping many would-be buyers at bay." More households headed by renters than at any point in 50 years A decade after the housing bust upended the lives of millions of Americans, more U.S. households are headed by renters than at any point since at least 1965, according to a Pew Research Center analysis of Census Bureau housing data. While recent trend pieces point to historical data suggesting an upcoming stagnation in the apartment market, with nearly 39 million Americans (1 out of every 8) calling apartments home, it’s becoming increasingly difficult to refute the demand for apartments. However, the increase in U.S. renters over the past decade does not necessarily mean that homeownership is undesirable to today’s renters. Indeed, in a 2016 Pew Research Center survey, 72% of renters said they would like to buy a house at some point. About two-thirds of renters in the same survey (65%) said they currently rent as a result of circumstances, compared with 32% who said they rent as a matter of choice. When asked about the specific reasons why they rent, a majority of renters, especially nonwhites, cited financial reasons.

About NAR's HOME survey: In January through early March, a sample of U.S. households was surveyed via random-digit dial, including a mix of cell phones and land lines. The survey was conducted by an established survey research firm, TechnoMetrica Market Intelligence. Each month approximately 900 qualified households responded to the survey. The data was compiled for this report and a total of 2,702 household responses are represented.

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for a down payment. Limited income (47 percent), student loan debt (30 percent), and rising rents (28 percent) were the top three obstacles cited, followed by health and medical costs (14 percent). Only 14 percent also said that nothing was holding them back from saving for a down payment. Non-homeowners were also asked for the potential reasons why qualifying for a mortgage would be difficult. Income uncertainty (45 percent), a low credit score (34 percent) and too much debt (26 percent) were mentioned the most. Twenty-nine percent said they lacked

Income, debt and anxiety hold back renters from buying In this quarter's survey, nonhomeowners were also asked about the barriers preventing them from saving

Rental Housing Journal Arizona · April 2018

Rental Housing Journal Arizona

Apartment Amenity Company Partners with Denver Property Manager

boutique apartment operator in Denver and Colorado Springs, Urban Phenix, has partnered with a lifestyle apartment amenity company, Amenify, to offer different types of on-site lifestyle experiences to residents, according to a release. Urban Phenix, a boutique apartment operator in Denver and Colorado Springs, is partnering with Amenify to offer daily dog walks, apartment cleanings, massages, and personal training sessions. Urban Phenix is also building local partnerships with nearby gyms and yoga studios. “We are thrilled with our properties’ participation rates. It’s wonderful to see that over 70% of our residents are enjoying their upgraded lifestyle with these amenity services” Nick Lazzarra, President of Urban Phenix, said in the release. Apartment amenity issue big for millennial renters “Data is showing that apartment renters’ checklists are growing, and this is especially true for millennial renters. No longer is high-speed internet or a

Visa gift card enough to attract new renters. Renters are overwhelmingly choosing properties based on lifestyle services that improve their move-in experience by instantly plugging them into a local community and ecosystem of on-demand services,” the release states. Per their website, Urban Phenix focuses on ‘renovating assets to create a modern apartment experience’ and they are spending the money to deliver on this mission. At Urban Phenix’s Sloan property, all new residents will receive one of three apartment amenity options upon lease signing: Six months of dog walks, or Six months of personal training, or One year of cleaning services (multiple per month) Real estate industry experts in the apartment world refer to these services as “soft amenities” opposed to more capital intensive “hard amenities” like club rooms and big screen TVs. Dog-walking, in particular, is becoming a focal point for renters. As the apartment world is seeing an

increase in pet ownership, recent data suggests pets are a key factor impacting leasing velocity. According to Richard Melton, an Urban Phenix onsite manager, the most popular service is dog-walking. The National Multifamily Housing Council (NMHC) delivered a report at Optech 2017 stating 72% of pet owners were interested in having a community dog park, followed by 60 percent wanting a pet-washing station, and 56 percent being interested in a pet daycare service. Amenify, is a property-centric real estate technology company that white labels their amenity program and provides hotel-style concierge and support. Amenify does all the work, including resident communications and vetting service providers, making it easy for properties to elevate their brand without monopolizing their staffs’ time and resources. Amenify creates a white-label program that seamlessly plugs into the operating software used by the property. There is virtually no work for the on-site team, other than leveraging

the amenity program as a sales tool for prospective residents. “Residents choose communities that offer convenience and value, and it’s more effective to deliver an experience with software than to build things onsite. We believe in creating a winwin,” Everett Lynn, CEO of Amenify, said in the release. Based on initial pilots with Amenify, Urban Phenix is expanding the program to all of its Denver communities in 2018. Amenify, a privately held company founded in 2016, is a next-generation property-centric marketplace that makes it easy for apartment buildings to offer a suite of local services and experiences. For more information, visit www.amenify.com. As competition for residents continues, there is a growing need for multifamily buildings to differentiate themselves from the pack, according to the release.

service animals, emotional support animals and companion animals. Residents making accommodation requests are not required to use specific terminology. If an animal works, assists, or performs tasks for the benefit of a person with a disability or provides emotional support that alleviates one or more symptoms or effects of a person’s disability, it doesn’t matter what term someone uses, it is an assistance animal under the FHA and Section 504.

improvement plans using evidence-based strategies, and conducting learning studies. Later, at Kaplan Inc., she worked in the vocational education and job training divisions, improving online, blended and face-to-face training programs, and working directly with business leadership and trainers to improve learner outcomes and job performance. Ellen lives and works in Maryland, where she was born and raised.

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Service Animals ...continued from 4 and animals other than dogs (and sometimes miniature horses) are not considered service animals under the ADA. Consider these important takeaways: You cannot deny a reasonable

accommodation request because an animal does not meet the ADA definition of a service animal. Under the FHA and Section 504, reasonable accommodations must be granted for assistance animals, which include

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Rental Housing Journal Arizona · April 2018

Rental Housing Journal Arizona

Millennials Spend about 45 Percent of Income on Rent Before Age 30

new study based on Census data shows that millennials spend about 45 percent of their income on rent before reaching the age of 30, according to Rent Café. The cost of renting is a huge subject nowadays and a big expense as well, arguably the biggest it’s ever been. People in their 20s starting a life on their own have always faced a lot of challenges. Besides having a low income because of limited work experience, leaving home and paying rent make things even harder, according to Rent Café.

“Analyzing Census data going as far back as 1974, we discovered that rent burden followed an ascending trend over time, making millennials the hardest hit generation. But the future doesn't look too bright for Generation Z either,” the company said in a release. Here are more key findings on millennials and rent Millennials pay a whopping $92,600 in total rent by the time they turn 30. Although they earn more compared to previous generations, they also have to spend more on rent.

By the time Millennials might be thinking about buying a home or starting a family, they are struggling with rent and student loan debt instead. Compared to Baby Boomers (36%) and Generation X (41%), Millennials have to cope with a 45% rent burden in their 20s. Because of the ever-increasing rents, discrepancies appeared within the same generation as well. With a rent burden of 47%, younger Millennials (20 - 29) surpass older Millennials who spent about 44% of their income on rent between the ages of 22 and 30.

If this trend continues, Gen Z-ers are expected to pay something in the vicinity of $102,000 while in their 20's just to put a rented roof over their head. Summary: Given their overwhelming student loan debt, younger millennials may carry on renting, simply because the prospect of buying is not yet attainable. On the other hand, older Millennials are starting to slowly shift towards home ownership. As they are finally catching up with the American Dream, ...continued on page 11

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Rental Housing Journal Arizona · April 2018

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Rental Housing Journal Arizona

Update your Rentals ...continued from 3 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 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 hightech 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. Maintenance 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 smaller projects that tackle the aesthetics of a 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 a 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. Keepe is an on-demand maintenance solution for property managers and independent landlords. The company makes hundreds of independent contractors and handymen available for maintenance projects at rental properties

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Phoenix, Denver, Seattle ...continued from 1 mean salary of $39,235. In addition to leasing experience, these positions require strong communication and writing skills, as well as customer service skills. Experience in property management was also a strongly desired. Markets with the highest concentration of demand for leasing consultants are unsurprisingly in areas which have had a spate of new apartment construction: Detroit, Raleigh and Washington, DC. Although all types

of apartment jobs will be needed for new communities, these markets are currently experiencing a shortage of qualified leasing professionals, Munger reported. Jobs in property management, maintenance and leasing will continue to grow and “we’re not seeing that change any time soon,” Munger said last month. ”Construction has leveled off a bit and I'm sure you've heard that starts are down. But I see that as more of a normalizing thing than anything. More and more people are making a

choice to live in apartments,” she said in an interview with Rental Housing Journal. “Our education institute is a credentialing body for the apartment industry. They hear often that one of the biggest problems keeping our industry leaders up at night is the difficulty in finding talent, attracting talent and retaining talent,” Munger said last month at the time the first report was released. “Labor-market issues are happening in a lot of industries, certainly with the tight labor market we

have.” For the monthly on-going reports, the NAA decided to partner with Burning Glass Technologies. “They have a labor-job posting database that is proprietary,” she said, and they can “layer on data from the Bureau of Labor Statistics (BLS). We looked at that and thought we could do something that is really going to help the industry and help benchmark job titles and trends as we go forward.”

About The National Apartment Association: The National Apartment Association is the leading voice for the apartment housing industry. As a trusted partner, a valued connector and a powerful advocate, the NAA is committed to serving 160 affiliates, more than 75,000 members and the 9.25 million apartment units operate globally.

About the National Apartment Association Education Institute: The NAA Education Institute provides broad-based education, training and recruitment programs that attract, nurture and retain high-quality professionals and develop tomorrow’s Residential Property Management industry leaders.

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Rental Housing Journal Arizona · April 2018

Rental Housing Journal Arizona

New Apartments Feature Innovation in Design in Washington, DC

he newly constructed Apollo Apartments feature innovation and were designed to capture the feel of the early 20th Century Apollo Theatre movie house in the H street area, according to a release. The Apollo is in one of the most dynamic and exciting neighborhoods in Washington, D.C. It is built on the site of the legendary Apollo Theatre from 1913. The idea was to combine the building’s past with the present. The original Apollo Theatre opened its doors in 1913. Designed by architect C. Clark Jones in the Renaissance Revival style, it hosted nearly 900 guests at capacity and drew crowds until 1955. The photos here show some of the outstanding features of the apartments The building houses more than 350 apartments with a Whole Foods store and independent coffeehouse The Wydown. Sitting on top of the building is an expansive, landscaped rooftop deck and outdoor living environment, which includes a multi-use pool/fountain, movie screen with lawn seating, a 360-degree view of the city, benches and dining tables. For the decking portion of the project, the Apollo’s landscape architect, Payam Ostovar, PLA, ASLA, of Washingtonbased Landscape Architecture Bureau specified Kebony modified wood. Ostovar said the decking is performing

well since construction was completed earlier this year. “One of the best benefits the owners have noticed is that being a pool deck, it is far cooler than the adjacent concrete pavers,” Ostovar said in a release. Kebony was also used for the pergola and benches throughout the project. “One of the reasons we went with Kebony for the rooftop deck was we liked the silver patina it develops over time,” Insight Property Group development manager Brendan Whitsitt said in the release. “We were looking for a natural decking product that wouldn’t require any maintenance or regular refinishing. With Kebony, normal cleaning is enough and no additional treatment is required, as it is with many other wood decking options.” Other materials used for the project included Hanover, SynLawn and Handydeck pavers, and furniture comprising an Ore firepit, Alfresco grills and Streetlife bench products. Photos copyright Sean O'Rourke About Kebony: The company's global headquarters is based in Oslo, Norway, with production facilities in Skien, Norway. The Kebony USA team is located in St. Clair, Michigan, with local representation both on

the East and West Coasts. Kebony has received numerous awards for its environmentally friendly technology and innovation, including its naming as a World Economic Forum Technology Pioneer and a Global Cleantech 100

company. Kebony has been embraced by leading architects, designers and developers, which are served through a global sales and distribution network. •

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Front Door ...continued from 1 here are some front door materials to consider:

Wooden front doors Pros: 1. Ultra-customizable - wooden doors can be tailored to match countless designs, shapes and color schemes, while also being able to house additional decorative elements, such as glass mosaics and panels 2. Flexible price points - the unique natural look of wood can be accessible for most budgets as different varieties of woods are available at a variety of price points 3. Unique look - Many property owners and designers find wood to be worth the investment as it presents a naturally variegated and “high-end” refined look that other man-made materials cannot replicate Cons: 1. Weather-sensitive - wood is a material that is prone to be affected by its exposure to the weather and other environmental elements. Direct sunlight can fade the natural coloring of the wood, and high-moisture levels

in the air (or from precipitation alone) can lead to warping and even rotting of the wood 2. High-maintenance - to ensure that the wood ages well and without being damaged by the natural elements discussed above, it’s essential to regularly treat the wood. Tinctures and sealants should be regularly applied by a reliable maintenance professional, which will be an added maintenance cost to consider. 3. High-price for top-quality - some wood varieties are naturally more resistant and sophisticated-looking, which contributes to their one-ofa-kind appeal and/or ability to last through the years without needing major attention. Premium varieties, such as mahogany or cedar, will be considerably pricier.

Steel front doors Pros: 1. Super safe - when it comes to property intrusions, reinforced steel doors are known to be safest against breaches, allowing for increased confidence in a property’s overall defenses against unwanted visitors.

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2. Affordable but effective - when considering its wood and fiberglass counterparts, steel stands out as being far more affordable, while still offering the safety element that it shares with fiberglass and being much more lowmaintenance than wood and its issues with exposure and aging. Cons: 1. Insulation is not its forte - steel is a known conductor of heat and electricity, which makes it problematic when it comes to wanting to keep a property’s interior temperature at a set level. Steel will contribute to heating up the space when heated by outside temperatures and/or sunlight and will struggle to keep the cold out during the winter months. Insulating layers and treatments can improve this downside, but they will come at an added cost. 2. Denting - steel can easily become dented or chipped following impact, and this often results in unappealing marks that are difficult to completely erase. To effectively get right of the unappealing look of those visible surface damages, an entirely new door might need to be purchased. 3. Rusting - while steel is not as sensitive to moisture as wood, it can easily rust over time as it is exposed to moisture and precipitation. Our experts encourage consulting the manufacturer to understand whether and how professional treatments can help Glass front doors Pros: 1. Unique look - solid glass doors can be made to match a great variety of preferred styles, with varying cuts, shapes and opacity available to be reproduced as desired. 2. Luminosity - glass allows natural light to enter the home like no other material can, which some property owners find to be a valuable addition to the look and feel of their property. Cons: 1. Fragility - experts agree that glass is naturally delicate even when it is reinforced, making it essential to be mindful of potential scratches, cracks and chipping that could easily occur. 2. Privacy - while some might be excited about the way glass allows for natural light to illuminate the home, some can be put off by the way glass makes it easy for passerby’s to peek inside a property 3. Questionable safety factor - glass door made for the purpose of being utilized as a property’s front door are generally reinforced to make it difficult for intruders to gain access by easily shattering the glass surface. This being said, glass remains rather fragile and much more easy to break than wood, steel, and fiberglass combined.

choose fiberglass front doors as opposed to wood because they are not vulnerable to discoloration and damage from exposure, while still closely resembling the look of wood. They are also more resistant to wear and tear than their steel counterpart. 3. Low-maintenance - these door should be maintained occasionally as they age, but they do not require sealants to be regularly applied, which does help with saving considerable amounts when it comes to maintenance expenses. 4. Secure - our experts confirm that fiberglass doors are just as secure as their steel counterpart, which allows them to stand strong and dent-free following forced impact 5. Efficient - while all door types can be treated to add insulating properties, fiberglass vastly surpasses wooden and steel door when it comes to insulation. While steel will always struggle with efficiently insulating and wood is vulnerable to temperature and humidity changes, fiberglass is not affected by any of these issues. Having optimal insulation can help ensure lower energy use and expenses as it allows for a property to easily remain hot or cool temperatures as desired. 6. Affordable while aesthetic additions - such as integrated wood or glass decors - will rise costs, basic fiberglass door models are generally rather affordable. Cons: Pricey add-ons - fiberglass doors are fairly affordable, but can get expensive as they are further customized with the addition of decorative elements or coats. Keepe is an on-demand maintenance solution for property managers and independent landlords. The company makes hundreds of independent contractors and handymen available for maintenance projects at rental properties.

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Fiberglass front doors Pros: 1. Versatile - fiberglass paneling is man-made, which allows for creating a variety of unique textures and styles. Fiberglass doors can be made to resemble a natural wood grain, or also present smooth and glossy or matte and satin surfaces for distinguished coloring that can match a variety of architectural elements. 2. Resistant - many property owners

Rental Housing Journal Arizona · April 2018

Rental Housing Journal Arizona

How Your Terms, Conditions or Privileges Could Mean Discrimination By Ellen Clark

discrimination in terms, conditions, or privileges. Discrimination is when a person, or a group, is treated unfairly or differently than others for a reason related to their membership in a certain category or group. In other words, if someone is treated in a different way than someone else because of the color of their skin, their age, their nationality, their ability to speak English (to name just a few) they are being discriminated against. A person does not need to be harmed to have been discriminated against— just treated differently.

he Grace Hill training tip of the week focuses on the issue of how your terms, conditions or privileges you provide prospective tenants and existing tenants could be discrimination under the Fair Housing Act. You must treat all prospects and tenants in a consistent way in how you use terms, conditions or privileges to avoid discrimination under the Fair Housing Act. Setting different terms, conditions, or privileges for buying or renting housing is a little less direct than other illegal practices, such as an outright refusal to rent or sell to an individual. But it is just as illegal. Requiring higher security deposits from families with children and demanding higher application fees from minorities are examples of discrimination in terms, conditions, or privileges. These practices violate fair housing laws. To avoid discrimination in terms, conditions or privileges, treat all prospects and residents fairly and consistently. 3 ways in leasing to be consistent and avoid discrimination If you require a photo ID from prospects to tour your community, be sure to get one from every prospect. No matter how non-threatening someone appears, it is important to require the same thing from all prospects. If a prospect’s rental application is denied, follow-up with them both verbally and in writing. Follow this exact procedure for every application

that is denied. If you have a prospect who does not meet your income requirements but you let her sign a lease by pre-paying six months’ rent, you should offer this option to other prospects in a similar situation. 3 ways in maintenance to be consistent and avoid discrimination If you charge one resident for a lock change, you should charge all residents the same amount for the same service. Respond to service requests in the order in which they were received. Faster response to emergencies is expected, but be sure to clearly define and document what constitutes an emergency service request. Document all correspondence with residents in your records.

Millenials ...continued from 7 this will surely drive demand for homes for sale. Their lifestyle patterns so far show that Millennials need affordable homes with attractive amenities. As they’re starting to form families, they’ll soon be ready to put their hard-earned money into their own home. Methodology: RENTCafé is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States. Using the most recent Census data, our research team analyzed the rents and incomes across the United States during certain time periods. Relevant income data was available starting with 1974 while rent data was available starting with 1940. The income amounts represent the median gross income per capita and the rental amounts represent the historical median gross rents. The data was adjusted to 2017 prices, using a cumulative rate of inflation for each year.

If you make an exception to any policy or procedure, make sure you provide the same information and options to all prospects and residents who are in the same situation. Being consistent in how you apply policies and procedures will help you make a habit of treating all current and future residents fairly and equally. This will help you comply with the FHA, but just as importantly, it will create a more welcoming atmosphere for all people who meet your qualifications and wish to live in your community. Summary on consistency and discrimination The Fair Housing Act is intended to prevent housing discrimination. The Fair Housing Act describes a number of illegal practices relating to housing discrimination. One of these is

Ellen Clark is the Director of Assessment at Grace Hill. Her work has spanned the entire learner lifecycle, from elementary school through professional education. She spent over 10 years working with K12 Inc.’s network of online charter schools measuring learning, developing learning improvement plans using evidence-based strategies, and conducting learning studies. Later, at Kaplan Inc., she worked in the vocational education and job training divisions, improving online, blended and face-to-face training programs, and working directly with business leadership and trainers to improve learner outcomes and job performance. Ellen lives and works in Maryland, where she was born and raised. For nearly two decades, Grace Hill has been developing best-in-class online training courseware and administration solely for the Property Management Industry, designed to help people, teams and companies improve performance and reduce risk.

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Toys R Us ...continued from 2 es for each generation: Baby-Boomers – born between 1946 and 1964, Gen Xers – born between 1965 and 1976, Millennials – born between 1977 and 1995 and the Gen Z generation – born starting with 1996. We added up the data from an 8-year period for each generation (for the years they were aged 22 to and including 29), we calculated the median amount of money that each generation spent on rent and the median income they earned during the same period. The final data presented in this study was obtained by rounding up the numbers to the nearest hundred. The study refers only to single people paying the average monthly rent on their own.

We based the total income on the following age brackets provided by Census: ages 15 to 24 and ages 25 to 34.

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With retail continuing to evolve at a brisk pace, filling the soon-tobe vacant Toys R Us locations may require improvisation. The inability to occupy the entire space with one retailer may result in subdividing the space into multiple sections; however, bay depth could present a challenge. Converting retail assets to offices or last-mile distribution centers are also concepts that have generated interest in recent years as owners search for ways to adapt locations and maintain a steady revenue stream. The larger co-branded Toys R Us/Babies R Us stores, typically averaging about 65,000 square feet, could have particular appeal as last-mile fulfillment centers, depending on truck access, bay height and foundation structure capacity. Although uncertainty surrounding the filling of the eventually vacant locations is imminent, expect investors to capitalize on the new space coming to market and the demographics contributing to commercial real estate’s strength.

The information contained in this report was obtained from sources deemed to be reliable. Every effort was made to obtain accurate and complete information; however, no representation, warranty or guaranty, express or implied, may be made as to the accuracy or reliability of the information contained herein. This is not intended to be a forecast of future events and this is not a guaranty regarding a future event. This is not intended to provide specific investment advice and should not be considered as investment advice. Sources: Marcus & Millichap Research Services; CoStar Group, Inc.; CreditNtell; IHL Group; U.S. Census

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We used the following year-of-birth rang-

Rental Housing Journal Arizona · April 2018

Rental Housing Journal Arizona

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Rental Housing Journal Arizona · April 2018