Colorado RHJ April 2018

Rental Housing Journal Colorado

April 2018 - Vol. 10 Issue 04

2. Renters Feelings about Buying Diminish as Rates Climb amid Tight Inventory 4. 20 Easy, Affordable Maintenance Projects to Update your Rentals 5. Dear Maintenance Men: 6. Apartment Owner Ordered to Pay $1.6 Million in Bed Bug Lawsuit

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Top Apartment Owners Show Strong, Continued Growth

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

T

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 older-looking 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

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...continued on page 7

he apartment sector continued its strong economic run last year for apartment owners with more than two million units being owned by firms on the National Multifamily Housing Council’s (NMHC) top 50 owners list, representing about 10 percent of all apartments in the U.S., according to a release.

“Strong underlying demand and investment performance metrics continue to buoy the market,” Mark Obrinsky, NMHC’s Senior Vice President of Research and Chief Economist, said in the release.

“While there may have been some signs of deceleration and market leaders have shifted strategies, the industry’s fundamentals remain robust,” Obrinsky said.

The newly released 2018 NMHC 50— the authoritative ranking of the nation’s largest apartment owners, manager,

developers, builders and syndicators, shows some of the following highlights: ...continued on page 2

Millennials Spend About 45% of Income on Rent Before Age 30

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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 start-

ing 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 ...continued on page 4

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Rental Housing Journal Colorado

Renters Feelings about Buying Diminish as Rates Climb amid Tight Inventory

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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 ...continued on page 3

Strong, Continued Growth ...continued from 1 •

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MAA in Memphis was the country’s largest apartment owner, with 99,792 apartment homes owned.

Greystar Real Estate Partners in Charleston, S.C. remained the largest apartment manager, with 418,475 apartments under management.

Greystar Real Estate Partners also remained the top of the apartment developer with 5,651 apartments started in 2017.

Summit Contracting Group, Inc. in Jacksonville, Florida and Atlanta took the spot as the nation’s top third-party apartment builder, starting 6,053 apartments in 2017.

Alden Torch Financial in Denver continued as the country’s largest apartment tax credit syndicator with 162,123 apartments syndicated.

Additional apartment owners and industry and highlights • 2,066,945 Number of units collectively owned by the firms on the NMHC 50 top owners list, representing 10.1 percent of the total apartment stock in the U.S. • 3,282,557 Number of total units managed by the firms on the NMHC 50 top managers list, an all-time high and a 3.3 percent growth over last year.

• 95.1 percent – Apartment occupancy rate in 2017, according to RealPage; this is slightly below the unusually high levels of the last few years, but well above the post1999 average of 94.4 percent.

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• 346,900 – Number of apartments completed in 2017, according to the Census Bureau—the highest level since 1989.

• 343,037 – Absorptions of apartments in 2017, the best year since 2000 by a wide margin.

• $152.7 billion – Total multifamily transaction volume for 2017, according to Real Capital Analytics.

NMHC partners with Kingsley Associates, a leading real estate research and consulting firm, to conduct the research and analysis for the NMHC 50. All apartment owners, managers, developers, builders and syndicators are invited to answer a survey questionnaire that asks about their prior year’s activities. Apartment owners, managers and syndicators are ranked based on their portfolio holdings (either owned, managed or syndicated) as of January 1, 2018, while developers and builders are ranked based on the number of apartment units started in 2017. About the National Multifamily Housing Council: Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is the leadership of the trillion-dollar apartment industry. We bring together the prominent apartment owners, managers and developers who help create thriving communities by providing apartment homes for 39 million Americans. NMHC provides a forum for insight, advocacy and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202/974-2300, email the Council at info@nmhc.org, or visit NMHC's web site at www.nmhc.org

• Rental Housing Journal Colorado · April 2018

Rental Housing Journal Colorado

Renters Feelings about Buying Diminish ...continued from 2 would improve measurably, and ultimately lead to more sales, if a growing number of homeowners finally decide that this spring is the time to list their home for sale."

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. rent-

ers 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 twothirds 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.

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

ing 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 the financial knowledge or did not know the first step needed to qualify.

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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Text REALESTATE-ROI to 44222 to receive a digital copy of this year's Real Estate Opportunities in Investing (ROI) Finding Investing Success in Today's Housing Market Rental Housing Journal Colorado · April 2018

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Rental Housing Journal Colorado

20 Easy, Affordable Maintenance Projects to Update your Rentals

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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 opt-

ing for bright or bold colors.

Due to its exposure, the front door can be prone to discoloration and chipping, and a new coat of paint can completely transform it into a cheerful and appealing detail.

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

3. Sanding and refinishing railings - Harsh weather and temperatures can take a toll on metal fences and railings. Rust, oxidation and discoloration are unappealing, but can be

easily taken care of by sanding, repainting and sealing.

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

5. Repainting or replacing mailboxes - Tenants will notice and appreciate the look of their updated mailbox, and will be even more excited about having newer models installed, as those offer include safe fea-

tures 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 ...continued on page 6

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Rental Housing Journal Colorado · April 2018

Rental Housing Journal Colorado

By Jerry L'Ecuyer & Frank Alvarez Dear Maintenance Men: I own a small apartment complex that I manage myself. The property is starting to experience repetitive sewage backups.

I’ve called the plumber several times and the problem is never resolved. The plumber is recommending the installation of a 4-inch main line clean out, running a camera down the line and few other things. It is all starting to sound expensive and I don’t know what to do.

Why can’t the plumber just do the job right the first time?

Bryan Dear Bryan: Your plumber is giving you good advice. Using the camera will determine exactly what the problem is and will help you decide the best course of action to solve your plumbing problem.

We highly recommend adding an exterior mainline cleanout. In the long run, a 4-inch cleanout will save you money by making the plumber’s job easier to do. The plumber can run a larger snake without going on the roof or removing a toilet or disturbing the residents. The 4-inch clean-out is key to help keep your drains clear on a preventive maintenance basis.

We would follow the advice of your plumber and get bids on: 1. Running a camera down the line to determine the actual cause of your

Dear Maintenance Men:

problem i.e. Roots, sewer line break, corroded pipe or cracks, etc.

2. Install a 4-inch main line clean out with street sweep and repair the sewer line as needed.

3. On a preventive maintenance basis, Hydro-jet annually to clean your main line.

This work may not be cheap, but in the long run you will benefit from lower plumbing bills, late night emergency calls and happier residents.

Dear Maintenance Men: How do I safely remove a large mirror from a bathroom wall without shredding myself or my helper in the process?

Tom

Dear Tom: Removing a large piece of glass or mirror can be spooky. Safety first, be sure you are wearing eye protection, gloves and a sleeve long sleeve shirt or jacket. Next, use duct tape diagonally in both directions on the face of the mirror. This will help keep the mirror whole if it cracks or breaks. If the mirror is glued to the wall; cover the glass with a blanket or tarp and tape it to the top edge of the mirror. Be sure to cover the entire mirror top to bottom.

You are now ready to remove the mirror and should it shatter, the blanket will contain the shards, protecting you and making the clean-up much easier.

Dear Maintenance Men: What is the normal time frame for a one or two bedroom make ready? I have always heard the three-day rule to get an apartment ready for rent. My units seem to be on the three-week rule! How can I tighten up the process and turn my units faster?

Martin

is to plan each day and try to stick to the plan.

WE NEED Maintenance Questions!!!

If you would like to see your maintenance question in the “Dear Maintenance Men:” column, please send in your questions to: DearMaintenanceMen@gmail.com

Dear Martin: The “Three-Day Rule” is a nice goal to strive for and can be done. But, most units are not in rent ready condition when we get them back from our departing residents. Here’s a useful time table and work schedule for a one or two bedroom apartment requiring complete paint, carpet, flooring, minor repairs, window coverings and cleaning.

Day 1 & 2: Paint prep, trash out, minor repairs, removal of blinds, drapes, switch outlet plates etc.

Day 3: Paint Day 4: Carpet/Flooring Day 5: Installation of window coverings, doorstops, switch/outlet plates, fixtures, accessories, toilet seat etc.

Touch up paint if needed.

Day 6: Cleaning – General cleaning including windows & final inspection.

If you have done a pre-inspection of the unit before the resident moves out.

You can plan what needs to be done before the unit is vacant. Organize the maintenance techs and contractors ahead of time. Have all the repair and replacement parts ready to go. The key

Bio: If you need maintenance work or consultation for your building or project, please feel free to contact us. We are available throughout Southern California.

For an appointment please call Buffalo Maintenance, Inc. at 714 956-8371 Frank Alvarez is licensed contractor and the Operations Director and co-owner of Buffalo Maintenance, Inc. He has been involved with apartment maintenance & construction for over 20 years. He is also a lecturer & educational instructor and Co-Chair of the Education Committee of the Apartment Association of Orange County as well as being Chairman of the Product Service Counsel. Frank can be reached at (714) 956-8371 Frankie@BuffaloMaintenance. com For more info please go to: www.BuffaloMaintenance.com Jerry L'Ecuyer is a licensed contractor & real estate broker. He is currently on the Board of Directors and Past President and past Chairman of the Education Committee of the Apartment Association of Orange County. Jerry has been involved with apartments as a professional since 1988.

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.

the Gen Z generation – born starting with 1996.

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Millennials Spend About 45 Percent ...continued from 1 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

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.

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

We used the following year-of-birth ranges for each generation: Baby-Boomers – born between 1946 and 1964, Gen Xers – born between 1965 and 1976, Millennials – born between 1977 and 1995 and

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.

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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, this will

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

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Apartment Owner Ordered to Pay $1.6 Million in Bed Bug Lawsuit

jury has awarded a California family $1.6 million in one of the largest single bed bug case awards ever reported against an apartment owner, according to a release.

Liliana Martinez told NBC in Los Angles her family suffered for months with bed bugs at the Kahala Islander Apartments in Inglewood, California in 2010. She said her child, a baby at the time, was covered in bites.

"Just seeing how he would scratch all the time and nothing would heal because it would start bleeding again. It was very emotional, very stressful," she told the television station.

The family says they complained to apartment management and were told to throw out all of their furniture and sleep on the floor. But it took months to eradicate the bugs. The lawyer who represents the apartment building declined to comment on the case.

The defendant in the case, Amusement Six Apartments LLC owns an apartment complex in Inglewood and simply didn't respond appropriately to the Plaintiffs complaints about bedbugs, according to Yahoo news. Ac-

cording to the suit, it took management 9 days to initially schedule bedbug treatment, and when they did, the pest control operator left handfuls of chemical all over their belongings and carpet. When the plaintiffs complained about the chemical, the management told them there was nothing they could do, and they should vacuum a square area in their living room to sleep on with their 2 young children. Although they then agreed to change the carpet, it took them 3 months to do so, and all the while, the bed bugs were feeding and breeding in the carpet until it was changed. The family continued to receive bedbug bites the entire time.

Bed bug verdict the largest in U.S. Brian Virag, attorney from the law firm of mybedbuglawyer.com, obtained the $1.6 million verdict for the family and said in a release it was the largest verdict for a single family for bed bugs in the U.S. He represented the family of four including a 3-year old boy and a 3-month old baby girl who were all bitten by bed bugs. His clients were all exposed to bedbugs between July and October of 2012.

The case was Liliana Martinez Et. Al. v. Amusement Six Apartments LLC. The young boy, Jorge Maravilla Jr., who was 3 years old at the time of the

bedbug exposure was covered in bed bug bites. He has significant residual scarring to the day. The jury awarded Jorge Jr. $880,000.

This is the fifth landmark verdict obtained by Virag in the last 12 months that included a 3.5-million-dollar verdict against PLB Management, and a $546,000 verdict in October against the Hilton Garden Inn in Rancho Cucamonga, CA, whose clients were exposed to bed bugs for a one-night hotel stay.

Sixteen former and current residents of one of Los Angeles' largest apartment complexes won a $3.5-million verdict over an infestation of bed bugs in their units last year, Virag told the Los Angeles Times.

Park La Brea Apartments, a sprawling complex with more than 4,000 units in the Miracle Mile District, was found liable by a jury in Los Angeles Superior Court late Friday afternoon, said attorney Brian Virag, who represented the plaintiffs.

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20 Easy, Affordable Maintenance Projects ...continued from 4 appliances with a kitchen-safe liquid stainless steel paint makes outdated or discolored appliances look modern and sleek.

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

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

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

3. Sealing cracks - Cracks are not a pleasant sight on tiling and fixtures, making them look worn and damaged.

They can be concealed by being filled in with sealant.

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

5. Covering exposed bulbs - Exposed light bulbs aren’t particularly appealing, actually making space look rather unpolished. Plenty of inexpensive lighting fixtures are available for purchase, and can be installed over exposed bulbs 6

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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Advertise in Rental Housing Journal Colorado Circulated to over 6,000 apartment owners, on-site and maintenance personnel monthly.

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Rental Housing Journal Colorado

How Important is the Front Door ...continued from 1 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, 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-of-a-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.

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 low-maintenance 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.

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 resem-

Rental Housing Journal Colorado · April 2018

ble 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 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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Rental Housing Journal Colorado

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Rental Housing Journal Colorado · April 2018

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