Metro Rental Housing Journal December 2014 by Professional Publishing, Inc

Rental Housing Journal Metro

December 2014

2. Americans' Personal Finance Sentiment Strengthens 3. Screen with Care: What Residential Property Managers Need to Keep in Mind When Vetting Renters 6. RHOA President’s Message: An Awesome Two Years! What is the Best Way to Increase My Rent?

8. Multifamily NW – True Leadership 9. Fair Housing Council of Oregon – Us vs Them 12. Dear Maintenance Men 16. Shoptalk – Holiday Poem 17. Three Important Steps For Conducting Property Management Exit Interviews

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PORTLAND/VANCOUVER

Published in association with: METRO Multifamily Housing Association; Rental Housing Association of Oregon; IREM & Clark County Rental Association

How to Choose a Great Real Estate Mortgage Banker

Q4 Portland Apartment Research Report By Marcus & Millichap

onstruction Spreads Throughout Portland, Attracts Buyers The construction of apartments in the metro is proliferating as occupancy tightens and rents keep hitting new heights. Relatively steady employment growth over the past four years, especially in the tech sector, is generating rental demand. Not only is Intel expanding, but the metro’s relatively lower costs compared with other West Coast markets, a large pool of skilled workers and room for expansion are encouraging established tech firms such as eBay, Salesforce.com, Airbnb and Aruba Networks to open local offices. Also, emerging new technologies such as cloud computing and social networking are motivating tech startups. The added jobs are drawing workers to the region, creating a need for more rentals. Strong demand has dropped the apartment vacancy rate below the traditional replacement level, ramping up construction. By the end 2014, developers will have delivered at least 500 units in nearly all of the metro’s submarkets during the past two years, yet vacancy tops 4 percent in only one submarket, allowing operators throughout the region to aggressively raise rents. Lower entry costs than many other West Coast metros and the potential for significant rent gains are attracting out-of-state investors to apartment assets in Portland. This is pushing demand far ahead of list...continued on page 5 Professional Publishing, Inc PO Box 30327 Portland, OR 97294-3327

By Clifford A. Hockley, President Bluestone & Hockley Real Estate Services

s real estate investors we are often faced with the need to finance or refinance our properties. Why choose a mortgage banker versus an individual bank? This depends on your personal banking relationships. Typically, a mortgage banker can deliver more loan/ lending choices to the investor. In other words, most mortgage bankers have five to ten banking and / or correspondent relationships with insurance companies. This gives the investor more options to explore, especially since we are always looking for the best deal.

The Best Deal Getting the best deal is most important to us. What is the best deal? That is where the brilliance of a thoughtful and experienced mortgage banker comes in. In my mind the best mortgage bankers understand the questions they need to ask so they can identify their client’s lending needs. They understand their clients, the market place, and the lenders that they are working with. They can also provide realistic advice on the goals and limitations of each lender. Some borrowers are most concerned about the interest rate, for others the length of the loan is critical, still others the desire to have no prepayment penalty. A great mortgage banker is an expert in their field. They could specialize in single

tenant buildings and have resources to meet that need, or possibly they focus on multifamily deals, commercial shopping centers, or mobile home parks. In any case they have a network of specific types of lenders that they can use to obtain proposals for their clients. Great mortgage bankers understand that giving their clients some choices will help get the deal done. Experienced mortgage bankers will typically have long term relationships with financial institutions. This gives them some leverage in every deal. Financial institutions want to keep mortgage bankers happy because they need the repeat business. In a good well established relationship they have a much better chance to finalize a beneficial deal for their clients. ...continued on page 4

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s we enter the year’s final quarter, Dr. Robert J. Cerfolio, a world-renowned cardiothoracic surgeon, says it’s never too early to think about selfimprovement for the New Year … and this year. “Habitual procrastination can really hurt you in the long run because waiting to take care of something that’s obviously important to

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you – health, money, family matters – weighs on your subconscious,” says Dr. Cerfolio, known as “the Michael Jordan of lung surgery.” Understanding one’s personal “line of gratification” is the foundation for sticking to self-improvement goals, he says. “There are many kinds of lines of gratification,” he says. “For some, they’re the number of zeroes in their

bank statement; for others, the curves of their muscles after they leave the gym. It’s good and healthy to look back on your hard work and admire what you have accomplished before moving on to the next task.” Dr. Cerfolio, author of “Super Performing at Work and at Home: The Athleticism of Surgery and Life,” shares tips on how to make ...continued on page 10

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Americans' Personal Finance Sentiment Strengthens Housing Optimism Follows Suit Confidence in Home Selling Environment Hits New Survey High WASHINGTON/PRNewswire

esults from Fannie Mae's October 2014 National Housing Survey show Americans' optimism about the housing market continued its gradual climb amid greater confidence in household income and personal finances. The share of respondents who say they expect their personal financial situation to improve during the next 12 months climbed to 45 percent – seven points higher compared to one year ago – while the share expecting their financial situation to worsen decreased to 10 percent last month. Although consumer attitudes about the direction of the economy remain subdued, with only 40 percent of survey respondents saying the economy is on the right track, the October results mark a 13 percentage point improvement compared to the same time last year. "Consumers are growing more

optimistic about the housing market in the face of broader improvement in economic sentiment," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "The share of consumers who expect their personal finances to get better is near its highest level since the survey's inception, while those expecting their finances to get worse reached a survey low. Home price expectations rose significantly this month, largely reversing the dip witnessed over the past four months, and the share of consumers who think it's a good time to sell a home reached another survey high. The narrowing gap between home buying and home selling sentiment may foreshadow increased housing inventory levels and a better balance of housing supply and demand. These results may help drive a healthier housing market in 2015." ...continued on page 7

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Screen with Care: What Residential Property Managers Need to Keep in Mind When Vetting Renters

fter several years of being forced to play a bad hand, U.S. property managers are back in business – and likely choosing their table partners with special care. In today’s rental environment, that means not only vetting renters carefully, but also being cautious in the way they enlist background screening companies that help in that effort. Indeed, apartment vacancy rates have been hovering around four percent, the lowest level in more than a decade, according to real estate market data company Reis, Inc. Whether it’s due to the aging population, or post-economic downturn reluctance to take on mortgage commitments or other factors altogether, more Americans are now opting for multifamily housing. Yet these renters undergo a much different and more sophisticated review process than in times past. A mere 25 years ago, in fact, property managers had no easy way to review their prospective tenants’ backgrounds. Then, circa-1990, compa-

nies began to consolidate key information from credit reports and reformat the information in ways that were meaningful and understandable to property managers. A few years later, state-by-state criminal data started to become more accessible online, providing another layer of important data. Statistics and software arrived on the scene in the early 2000s. First came the advent of FICO’s NextGen Score and its ability to conveniently, quantitatively assess consumer credit risk for numerous reasons, including whether or not to rent multifamily residential units. By 2002, many managers were adopting and integrating special property management software services to help them manage all of the data. Various refinements have occurred since that time, including developments in 2010 when rental payment history information became the latest data to be readily accessible. Flash forward to today where there’s no mistaking that property managers naturally will want to arm

themselves with as much data as possible about their potential renters before approving applications. The tools for screening have evolved greatly and the need still remains great, particularly given the many recent stories of “professional renters” who falsify their information and hop from unit to unit with no intentions of keeping to their rent obligations. Yet, it’s vital for property managers to understand that all renter screenings they conduct must comply with the Fair Credit Reporting Act (FCRA). If a property manager plans to take adverse action on a potential renter, the FCRA mandates that they share a notice of that action to that person. In the context of resident screening, an “adverse action” not only includes denying an application, but also such things as requiring a co-signature or demanding a down payment deposit are not completely consistent with what may be required of other renters. The adverse action notice must include a.) contact information of the service that was

used, b.) a statement clarifying that the service supplying the report did not make the decision to take the adverse action and c.) a notice that the individual has the right to obtain a copy of the report free of charge within 60 days and is entitled to dispute the accuracy or completeness of the information. Given these legal parameters, property managers ought to keep in mind that not all resident screening providers and services are equal. There are literally scores of choices, offering varying degrees of quality and thoroughness. Choosing a source of data that can be routinely counted on for decision-making is something requiring careful examination. The best resident screening solutions not only are FCRA-compliant, but also encompass and cross-reference multiple checks, including identity verifications, credit checks, eviction and rental data and criminal record histories. There are other success factors as well. Here’s a fuller checklist of considerations property continued on page 5

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Mortgage Banker...continued from front page Building a Relationship It is critical for the lender to build a relationship with the borrower. The borrower and the mortgage banker need to trust each other. This means the borrower must be willing to share critical information with their mortgage banker and take the time to get together all of their relevant property and tax information. The mortgage banker will remind the borrower that no deal can get done if their tax returns and personal financial statements are not up to date. Mortgage bankers keep property, financial and tax files for repeat customers for future reference. This speeds up the financing process, especially if you close more than one deal a year. Most investors are borrowing all of the time. They are selling property, financing new deals, or refinancing deals which enables them to buy new deals. The mortgage bankers also realize that time is of the essence and it is their job to keep the portfolio lenders honest and on task so that deals get closed as quickly as possible. Some deals are more time sensitive, such as a 1031 exchange. If certain deals are not closed on time it can destroy the deal and spell disaster for the borrower. Experience brokers don’t procrastinate because they under-

stand the importance of repeat business to their success. A Mortgage Banker Acts as a Consultant Most borrowers don’t understand all of the financial nuances of their deals. mortgage bankers must work in concert with the real estate brokers and the borrowers in defining the best deal terms. Debt-coverageratio and loan-to-value ratios are different for each lender. The banker can help the real estate broker review the choices available in the marketplace and refine the broker’s and the borrowers’ underwriting so they can make a deal. Maybe a 25 year amortization will not deliver the desired cash flow to do the deal. Can the banker find 30, 35 or 40 year financing to get the deal done? A great mortgage banker finds solutions to deal each of their clients’ problems. Great mortgage bankers underwrite every deal before they are submitted to financial institutions. They figure out what deals will work, to make sure that they are not wasting their time or the borrower’s time. They have a sense for the stumbling blocks that might arise and the habits of all of the lenders they do business with. Typically they have a plan A, a plan B and a plan C so a borrower can choose the best loan for the deal. They have a sense for the global cash flow a borrower will

need to show a lender to be qualified for a loan. The best mortgage bankers act as consultants to their borrowers and the real estate agents they complete deals with. They also often work with the lender, the title and Escrow Company, the insurance company, and the borrower to make the deal. They know what deals cannot be done and are not afraid to walk away from a deal they cannot close.

Summary There are many ways to get a loan, you can work with a bank directly or you can work with a mortgage banker. Clearly an experienced mortgage banker has the ability to deliver significant value to a borrower by bringing more choice to the table. I would encourage you to contact a few mortgage bankers and start the process.

How Mortgage Bankers Get Paid Mortgage bankers typically get a percentage of the deal at closing for services rendered, they may also get paid a fee from the bank that originated the loan. It does not hurt to ask the mortgage banker how they get paid; it should not make much of a difference if they get you the best deal.

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Screen with Care ...continued from page 3 owners and managers can run through to evaluate which screening solutions provider is right.

• FCRA-compliant: It’s essential

the service protect consumer rights pertaining to their credit information.

• Thorough approach: From

across the entire organization, or fine-tune the process at the property level based on the unique circumstances at each property. The right provider should understand the need for flexibility and offer full customization to best meet its clients’ needs.

personal aliases to changed addresses, there is a lot of information to sift through and any number of ways details can slip through the cracks. The most successful screening company will be knowledgeable of, and equipped to handle such intricacies by employing a deeper, multi-faceted identity check and analysis of data critical to accurate rental decision making.

• Seamless technology integration:

processes: Apartment owners and managers may wish to use a consistent screening strategy

• Access to the most current

• Flexibility of screening

The screening practice is only one aspect of the rental process. By offering streamlined integration with other property management software, online leasing platforms and lease forms, apartment managers can benefit from the highest quality background screening while still enjoying a seamless process, enabling them to get qualified renters into their apartments much faster.

screening process, the screening solutions provider should be able to access the most up-to-date and comprehensive criminal records databases and credit data available. As a result, apartment managers can benefit from more informed decisions while minimizing instances of false positives. Screening a screening provider may sound like a funny premise, but given consumers’ rights to contest adverse actions taken against them, it’s both prudent and strategic in today’s market. Property managers wishing to learn more about a particular background screening business, reference checking service or

credit bureau are wise to investigate various options. A thorough review of a residential screening provider’s web site as well as a consultation of services with a company representative should reveal a solution provider’s robustness of services and track record for accuracy. David Carner (david.carner@fadv. com) is senior vice president and general manager of First Advantage’s Residential Solutions business. First Advantage’s Resident Screening capabilities and recommended best practices can be viewed at www.fadv.com/resident.

records: To ensure a successful

Q4 Report ...continued from front page ings and in turn driving prices higher. Competition for properties is particularly intense in the city’s core, requiring buyers to expand their investment parameters. Institutional investors from both coasts are more active in the market, targeting newly built or extensively renovated assets, many of which traded above $250,000 per unit. A surge in construction should keep these buyers interested during the quarters ahead. Meanwhile, a plethora of 1980s- and 1990s-built properties within the first-ring suburbs provide value-add opportunities at cap rates that can dip below 5 percent for well-located assets that have significant rentgrowth potential. With investor interest piqued and the cost of borrowing near recent lows, owners without a long-term investment horizon may find this an opportune time to list.

2.5 percent gain last year. The largest gains will be in the professional and business services sector. Construction: Since 2,260 rentals were completed in 2013, construction activity has accelerated. This year, developers will expand apartment inventory by 2.6 percent with the addition of 4,700 units. Vacancy: A swell of new units coming online in the final quarter of this year will result in vacancy ending the year at 3.1 percent, down 20 basis points from one year earlier. In 2013, vacancy decreased 40 basis points. Rents: Strong demand for rentals in addition to the leasing up of new luxury buildings will escalate rent VALLEY, ARIZONA growth this METRO, year. Effective rents will end 2014 at an average of $1,044 per month, an annual jump of 6.9 percent and more than 31 percent higher than the recent trough in 2009. Last year, rents rose 5.5 percent.

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RENTAL HOUSING JOURNAL METRO President Elizabeth Carpenter • President Elect John Sage • Past President Phil Owen • Vice President Robin Lashbaugh • Secretary Lynne Whitney • Treasurer Elaine Elsea • Office Manager Cari Pierce 10520 NE Weidler Portland, OR 97220 (503) 254-4723 • fax (503) 254-4821 info@rhagp.org • www.rhaoregon.org.

wesome, that is the only way I can explain the past two years as your president. As I hand over my presidency to John Sage, just taking a look at the last two years is wonderful. The work I have seen completed at the Rental Housing Alliance Oregon in the past two years by the volunteer board is nothing short of Awesome. There was a lot of work completed to make our organization more visible to the state of Oregon. Starting with rebranding our organization, which led to new name, logo, web design and signs. If you have not visited our new website at www. rhaoregon.org, take a moment and do so. The website has a great new look and is easy to access information. Jason Atkinson was a tremendous help to our organization with the rebranding and our public relations (PR) work. Since the change of our

Liz Carpenter RHAOregon President

President’s Message: Two Awesome Years! name, I have been asked several times why the change. Simply, the name Rental Housing Association of Greater Portland kept us in Portland. Our new name, Rental Housing Alliance Oregon, lets landlords in the state of Oregon know we are there for them. We are just a phone call or email away. RHA Oregon is here to make alliances with smaller landlord organizations to make our community even stronger. Cindy Robert and our legislative team keep us in the loop with any changes to laws that would affect landlords of Oregon. Cindy has brought RHA together with state & local officials so we can be part of the decision making process. Joi – This year we have partnered with Join . This organization works with homeless families to help get them off the streets and in a home/ apartment. We are proud to say we were able to raise enough money to

assist a family plus off the streets with our first annual Starry Night event in July. We supply a lunch by serving the homeless once a month at the Join facility. The Join facility offers access to computers, P.O. Boxes, showers and clothing to the homeless to assist them in finding jobs. As you may know we did not continue the lease of H&R Block in order to provide more space for classes and rental space for other organizations. The RHA Conference annex is open for reservations now. I want to thank the office personnel for their dedication to RHA Oregon. They worked hard in making the changes of RHA Oregon, along with answering the phones and your questions, meeting you in the office to assist you with any forms or questions you may need. Then there are the mentors of our organization, whom assist landlords

like you and me with information on a daily basis on their own time. These last two years have seen some really good changes to our organization. We now have all our tools in place with these awesome changes and look forward to utilizing them to make a bigger and better organization for Oregon landlords. If you haven’t signed up for the Holiday party on December 17th at the Riverside Golf and Country Club, please do so soon! This is a great Holiday party for your property managers and business associates. We hope to see you there. Since 1927 the Rental Housing Alliance Oregon has set the standard for community participation by landlords providing affordable and quality housing.

What is the Best Way to Increase My Rent? By Clifford A. Hockley President, Bluestone & Hockley Real Estate Services

s owners of investment property we continuously look for ways to cover our expenses. As the cost of maintenance, utilities and taxes rise, we need to find ways to offset those increases.

The answer is always to raise the rent, but by how much? Most importantly, you have to understand your marketplace. Are the rents in your marketplace going up or going down? There are a few ways to investigate this question, but I recommend researching competitive properties and listing the results on a market survey chart. If possible, it is always better to compare apples to apples rather than apples to oranges so be sure to select properties that most resemble yours.

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For example, if you have a 50-year-old house, you need to find a 50-year-old house to compare it to. Location is important as well. You should attempt to find a similar property within a 1 mile radius of your rental to make your informaSubject Property

tion more accurate. If your rental house has been renovated and you are comparing it to one that has not been renovated then you need to make adjustments to your model and make a dollar adjustment for the renovation in your market survey. Comparable 1

The same kind or adjustments need to be made for apartments or commercial rentals. I have drafted a sample market survey chart for an apartment property below: continued on page 14

Comparable 2

Comparable 3

Name Address # of Units Age of Complex Phone Number RENTS: Studio Rent 1 Bedroom Rent 2 Bedroom/1Bath 2 Bedroom/1.5Bath 2 Bedroom/2Bath 3 Bedroom/2Bath FEES & DEPOSITS Application Fee Security Deposit Pet Deposit/ Pet Fees OTHER COST INFO: Move in Rental Special? Utility Costs: billed directly to tenants & included in the rent AMENITIES Property Amenities: Garage(rent) Pool Recreation/Exercise Rm Free Covered Parking Parking Included? Laundry Room Unit Amenities: W/D Hook-up Washer & Dryer Air Conditioning Extra Storage Free Cable Patio/Deck Other relevant notes:

Rental Housing Journal Metro • December 2014

RENTAL HOUSING JOURNAL METRO

Americans'

...continued from page 2

Survey Highlights Homeownership and Renting

who would rent increased to 30 percent.

• The average 12-month home price change expectation rose to 2.8 percent.

The Economy and Household Finances

• The share of respondents who say home prices will go up in the next 12 months fell by one point to 44 percent. The share who say home prices will go down decreased by one point to 7 percent. • The share of respondents who say mortgage rates will go up in the next 12 months rose by three percentage points to 48 percent. • Those who say it is a good time to buy a house fell to 65 percent. Those who say it is a good time to sell increased to 44 percent—a new all-time survey high. • The average 12-month rental price change expectation rose to 3.7 percent. • The percentage of respondents who expect home rental prices to go up in the next 12 months decreased by six percentage points to 49 percent. • The share of respondents who think it would be difficult to get a home mortgage today increased by two percentage points. • The share who say they would buy if they were going to move fell to 65 percent, while the share

• The share of respondents who say the economy is on the right track held steady at 40 percent. • The percentage of respondents who expect their personal financial situation to get better over the next 12 months increased to 45 percent. • The share of respondents who say their household income is significantly higher than it was 12 months ago remained at 25 percent. • The share of respondents who say their household expenses are significantly higher than they were 12 months ago fell slightly to 36 percent. The most detailed consumer attitudinal survey of its kind, the Fannie Mae National Housing Survey polled 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts (findings are compared to the

same survey conducted monthly beginning June 2010). To reflect the growing share of households with a cell phone but no landline, the National Housing Survey has increased its cell phone dialing rate to 60 percent as of October 2014. For more information, please see the Technical Notes. Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future. For detailed findings from the October 2014 survey, as well as a podcast providing an audio synopsis of the survey results and technical notes on survey methodology and questions asked of respondents associated with each monthly indicator, please visit the Fannie Mae Monthly National Housing Survey page on fanniemae.com. Also available on the site are in-depth topic analyses, which provide a detailed assessment of combined data results from three monthly studies. The October 2014 Fannie Mae National Housing Survey was conducted between October 1, 2014 and October 25, 2014. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by Penn Schoen Berland, in coordi-

nation with Fannie Mae. Opinions, analyses, estimates, forecasts, and other views of Fannie Mae's Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management. Source Fannie Mae Fannie Mae enables people to buy, refinance, or rent a home.

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s my year winds down as your 2014 Multifamily NW President I wanted to take the opportunity to tell you about one of the most important pieces of this organization: the leader. It is no easy task to lead any association. It demands patience, finesse and the ability to understand the political environment. I’ve often thought about how challenging it would be to have a different “boss” every year as a new board President is sworn in. After spending a year developing a strong working relationship, you turn around and start over with someone new. In addition to that change, as a leader you now have a new executive committee and board members to work with. The ability to accept and work with constant change is part of this role. Deborah Imse took the position as the Executive Director for Multifamily NW in 2001 when the organization was known as Metro Multifamily Housing Association. There were 35,000 units at the time

True Leadership and income statement was showing a loss. Over the years with Deborah’s leadership, the membership has grown to over 160,000 units with a positive net income and healthy balance sheet. This has been a strategic process requiring hard work and perseverance. Part of this success included fostering the National Apartment Association relationship. Deborah has developed a strong relationship with the leadership at NAA and partners with our national organization in many different ways. She serves as a mentor to other Executive Directors, sharing advice on how to put on a successful trade show. Annually, Deborah attends the Capital Conference in Washington D.C. and the NAA Educational Conference. This year she attended the Association Executive Boot camp and the AE’s for Excellence Conference. These are all excellent opportunities to expand knowledge and share ideas with other executive leaders in our industry. As the association grew into more of a statewide organization Deborah

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lead the charge to develop Regional Councils in Bend and Salem adding to the existing council in the Southern Willamette Valley. She developed structures that would work for each region and provided educational opportunities that expanded to outlying areas that didn’t have access to training. Deborah developed the first “road trip” from Central Oregon which allowed members to attend the Spectrum Trade Show and Conference. In addition she organized the first Apartment Report breakfast for the Southern Willamette Valley region, which immediately Multifamily NW

Events Calendar December 1, 2014 9:00 AM - 1:00 PM NALP: The Leasing Interview and Qualifying Residents (Portland, OR)

December 12, 2014 12:00 PM - 1:00 PM It's the Law Lunch Time Series: 2014 - A Year-End Assessment of the Newest Laws (Portland, OR)

December 2, 2014 9:00 AM - 1:00 PM New Hire Training (Portland, OR)

December 17, 2014 4:00 PM - 7:00 PM Portland Holiday Social (Portland, OR)

December 3, 2014 9:00 PM - 3:00 PM Leasing Demonstration and Resolving Objections (Portland, OR)

December 18, 2014 4:00 PM - 7:00 PM Eugene Holiday Social (Eugene, OR)

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Consistency Guest Card – M163 OR-WA The Consistency Guest Card form is ideal for multifamily properties, busy with prospective renters regularly inquiring about vacancies. Diligent use of this form is a great tool to keep track of potential applicants and provide the level of information that highly qualified applicants expect. Additionally this form helps ensure that all interactions follow the same template. This form allows for the easy organization and written proof of how all prospective renters are asked the same questions over the phone, experience matching unit tours, and receive identical rent and deposit quotes.

sold out. Multifamily NW has increasingly been recognized as a reliable source for issues in our industry. This year alone we have received positive mentions in the Portland Business Journal, the Oregonian, the Tribune and other local papers. Deborah was interviewed by Channel 8 after the Apartment Report Forecast breakfast demonstrating that Multifamily NW is the “go to” organization for authoritative multifamily information in Oregon and Southwest Washington. continued on page 11

January 6, 2015 9:00 AM - 1:00 PM New Hire Training (Portland, OR) January 15, 2015 8:00 AM - 12:00 PM Fair Housing Fair (Portland, OR) January 20, 2015 8:00 AM - 12:00 PM Mold Awareness & Remediation (Portland, OR) January 21, 2015 9:00 AM - 2:00 PM CAM: Legal Responsibilities (Portland, OR)

CONSISTENCY GUEST CARD WELCOME CONVERSATION PHONE / IN PERSON

DATE __________________________________________ TIME __________________________________________ LEASING CONSULTANT ______________________________________________________________________________________________________________________

Applicant names______________________________________________________________________________________________________________________________________________________________ How soon do you need an apartment?________________________________________ How many people will this be for?_____________________________________ Where are you living now? Address:__________________________________________________________________________________________________________________________________ Any pets?__________________ Type_____________________________________________________________ Weight_______________________________ Age________________________________ What size apartment/how many bedrooms are you looking for?___________________________________________ How many baths?______________________ Is there a particular rent range?___________________________________________ What is important to you in your new home?_____________________________ ______________________________________________________________________________________________________________________________________________________________________________________

How many cars do you have?_____________________________ Why are you moving?______________________________________________________________________________ How did you hear about us?

c Print ad

c Internet

c Drive by

c Resident referral

c Used approved script to describe community amenities c Brochure/application was offered/given to applicants Price quoted________________________ Deposit or deposit range quoted________________________ Different rent or deposit rates quoted?

c Yes

c No

If yes, explain:

_________________________________________________________________________________________________________________

c Revenue Management System

c Other________________________________________________

May we have a phone number and email of where you can be reached? Phone:_______________________________________________________________________________________________________

PHONE CALLS How soon can you come and see me today? Time__________________________ If you are shown an apartment you like, are you prepared to fill out an application? c Yes c No Do you know where we are located? Do you need driving directions? Remember, please bring a copy of a government issued ID.

Email:________________________________________________________________________________________________________

INTERNAL NOTES Recorded visit into log: Call________________ Visit________________ Prospect #_________________________ Date_______________________ Initial_______________________

Pam McKenna Multifamily NW President

Apt # shown_______________________ If not shown, reason:______________________________________________________________________________________________________________ Follow-up date within 24 hours?________________________ Second follow-up date:________________________ Third follow-up date:________________________ Leased apt #_______________________ Quoted monthly rent_______________________ Specials quoted_______________________________________________________________ If not leased, give reason__________________________________________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________________________________________________________________________

Rental Housing Journal Metro • December 2014

RENTAL HOUSING JOURNAL METRO

By Jo Becker, Education/Outreach Specialist, Fair Housing Council of Oregon

nfortunately, some in the housing industry assume an “us vs. them” position to fair housing. As a former Realtor® now working at the Fair Housing Council (FHCO), I regret that. Civil rights are fundamental principles of this country and civil rights in housing—the heart of our shared livelihood—is fundamental to fair and equitable treatment for all regardless of protected class status. The defensive nature some assume troubles me on four counts: First, at the FHCO we take a proactive approach to education and outreach. I see my job as doing what I can to insure everyone knows what their rights and responsibilities are under the law. If we could accomplish our mission with education alone we would but truth be told, neither an “all-carrots” nor an “allsticks” approach will work. Frankly, we’re fairly unique in the fair housing industry in that we do both education / outreach and enforcement activities. Most organizations like ours do just one or the other. Our

Us vs. Them

approach is holistic and comprehensive. Those of you who know and have trained with our Education and Outreach staff, know that we love what we do and that we take our education / outreach role very seriously. Two, illegal housing discrimination – acts that would curl (or straighten, as the case may be) your hair and turn your stomach happen every day. The landlord who shuts the door on an otherwise suitable applicant as soon as he learns she has kids. The lender who is more than happy to work with buyers who happen to be recent immigrants as long as she can get away with charging them more than equally qualified US-born applicants or who pulls a loan from underwriting when it’s learned the mortgagee is on maternity or paternity leave. The seller who insists the neighbors would be up in arms if a Jewish family moved into the neighborhood and so instructs his agent not to bring him offers from “those people.” The agent who assumes what kind of house would be suitable to a family with kids or operators of a group home for those with disabilities above and beyond what the buyers gave as their search criteria. The bigoted neighbor who paints graffiti

across the façade of a new homeowner’s house and burns a cross in his yard. Yes, it does still happen, and sadly in our line of work we see the worst of the worst that one person can do to another! We’d gladly retire if housing discrimination were a non-issue but daily complaints and testing results—both local and national— confirm that illegal housing discrimination is, unfortunately, alive and well. Let me share a just a couple recent examples. Not long ago we received a call from a renter whose landlord followed the family’s announcement that they were expecting their first baby with an eviction notice. The landlord regretfully informed the household that the soon-to-be family of three exceeded his occupancy standard of two people for the two-bedroom unit. Now, hopefully you already know that an occupancy standard that restrictive violates federal fair housing protection for families with kids but, unfortunately, this landlord didn’t. When our enforcement team reached out to the landlord to address the situation they found that the landlord was genuinely ill informed about fair housing laws and promptly agreed to comply and cooperate.

Familial status discrimination has been illegal for over 20 years yet we see violations not only in terms of restrictive occupancy standards and child-specific property rules, but even blatant criteria stated as “no kids,” “no toddlers,” or “no teenagers.” Happily, in this situation, the matter was amicably resolved with a simple phone call. In another recent case in our service area, homeowners, their association, and the listing agents hired to sell homes in the area advertised the community as an “adult” community for those 18 and older. Both the term “adult” housing and a senior community other than for those over 55 or 62 are not allowed under federal fair housing law. The third thing that bothers me about an “us vs. them” attitude is that some believe that fair housing only protects “them,” “others,” “those people.” Guess what, we all have a race and national origin. We all have a gender. We either do or do not follow a religion. If you don’t have kids, I’m sure you know and care about someone who does. According to a 1997 Census Brief, 1 in 5 Americans have a disability2; again, if you don’t have a condition that meets the broad definition of continued on page 15

Make your job a little easier Making sure resident garbage and recycling is properly disposed of can be a big challenge. When it’s not, you’re left with a mess, that costs time and money to fix. The good news: free tools and resources from the City of Portland help ensure your residents know how to handle recycling and garbage the right way. We can help you prevent mistakes before they happen at your multifamily property. And save time and money in the process. Get free materials and support to make your job easier. Keep your garbage and recycling program working for you and your residents. Multifamily Resource Line: 503-823-7224 Online: www.portlandoregon.gov/bps/multifamily Email: multifamily@portlandoregon.gov

Rental Housing Journal Metro • December 2014

RENTAL HOUSING JOURNAL METRO

6 Tips Gratification ...continued from front page those lines of gratification more impressive.

• Be an early riser. The main

reason operating rooms hum into action at 7 a.m. is tied to human physiology; the bodies of patients are better able to handle the stress of surgery at that time. “People are generally better off getting work done early in the day when we’re better prepared for stress and performance,” he says. “And getting a job done early frees you up later in the day.”

• Love what you do. Why

wouldn’t you want to take ownership, responsibility and pride in what you do for a living? When you treat a job as only a means to a paycheck, you are missing the point. If your job isn’t the one you’d really love to have, don’t make it worse with a negative attitude. Instead, make it your own. Make it a point of personal integrity and principle to challenge yourself to achieve something every day. After all, 40 hours a week is a long time to stay anywhere.

• Ask yourself: Did I really try

my best? “I tried my best” is a common refrain from those who haven’t reached their goals. An honest response you can ask yourself is, “Am I sure?”

This question is not about being overly critical. It’s simply about realizing that, if you had practiced or studied an extra 10 minutes each day, you would’ve been that much closer to your goals.

• Set specific, measurable goals.

Results define goals. Every individual should have clear goals that are objective and measurable. Goals such as “to be happy,” “to do well at work” or “to get along” are too nebulous. To be successful, you have to be able to define your goals by measurable results.

is also willing to speak up about problems or changes necessary in a business or organization, and suggest solutions. About Robert J. Cerfolio, MD, MBA Robert J. Cerfolio, MD, MBA, is the James H. Estes Family Endowed Chair of Lung Cancer Research and Full Professor Chief of Thoracic Surgery at the University of Alabama in Birmingham. He received his medical degree from the University of Rochester School of Medicine, surgical training at the Mayo Clinic and at Cornell-Sloan

Kettering hospital, and has been in practice for more than 26 years. The author of “Super Performing at Work and at Home,” Cerfolio, who was a First Team Academic All-American baseball player in college, is a worldrenowned chest surgeon and recognized as one of the busiest and best thoracic surgeons in the world.

• Find the high ground. In

anything you do, aspire to live up to the noblest, highest aspect of your job. Certain jobs – such as police work, firefighting, teaching or working in health care – are service oriented, so it’s easier to feel good about your contributions. Look for the contributions you’re making in your job and take pride in what you’re doing to make the world a little better.

• Be the go-to guy or girl. This

takes time, practice and the confidence necessary to want the ball in a critical situation. Being the go-to guy or girl means being willing to take responsibility and risk failing. A go-to person

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True Leadership ...continued from page 8 Deborah collaborates with many external stakeholders that require countless hours and dedication. Deborah is one of the Portland Housing Advisory Committee Commissioners. She sits on the Landlord Tenant Coalition where she negotiated rules favorable to allow required renters insurance and continued criminal background checks. Deborah sits on the statewide Section 8 advisory group and the Fair Housing Advisory committee for Portland, Washington County and Clackamas County. She also works with the statewide Reentry Housing Workgroup, the Quality Rental Housing Workgroup, Multnomah County Housing Impact Assessment Committee and the Gresham Revised Stakeholder Group. Deborah continues to work with Healthy Homes for Multnomah County, Clackamas County and all of Oregon. She has also served on the bedbugs and hoarding state groups. Most notably this year, through Deborah’s efforts Multifamily NW was awarded the Meyers Memorial Trust Grant to promote statewide education. The grant will pay for her to travel to rural areas of Oregon to train landlords on House Bill 2639 which makes Section 8 Vouchers protected under source of income. Deborah is committed to our statewide organization and ensuring

equal educational opportunities for all landlords and this grant will allow her to extend our reach. Deborah holds a Masters in Public Administration from Washington State University. This training regarding public policy translates well for our association. Deborah has gained the respect of our members, the media, housing groups, politicians and national representatives through her work in the field. Her years of commitment to housing have earned her this position and the association has grown to what it is today through her leadership. On behalf of the Association, I would like to publicly thank Deborah Imse for her professionalism, her dedication and continued commitment to the housing industry. We should all be proud to have an Executive Director with such integrity and reach within our industry. C

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Dear Maintenance Men: By Jerry L'Ecuyer & Frank Alvarez

Dear Maintenance Men: We are contemplating a kitchen remodel of our rental units and want to add a dishwasher. It is understood that we will have to remove one cabinet to accommodate the dishwasher. The problem is that none of the kitchen cabinets if removed will produce the correct size hole to fit a 24” dishwasher. The hole will either be too big or too small. What can we do? Peter Dear Peter: You do have a few options you can look at. A larger hole can be filled with a spacer on either side of the dishwasher to close in the hole to fit the appliance or insert a pull out spice or tray door to fit the space. The spacer will need to be painted or stained to match the existing cabinetry. If the space is too small for a standard size dishwasher, you might consider using an 18” wide dishwasher or a drawer type dishwasher. Another option is resizing your existing cabinets to fit a standard dishwasher. In other words, remove a cabinet and make it smaller. Resizing a cabinet might be easier said than done, however a good carpenter or cabinet maker could make this job easy.

Tom Dear Maintenance Men: As an income property owner; what would be the best thing I could do at my building to help cut heating and air conditioning costs? I keep my property in good shape and want to help my residents keep their costs down which in turn, I hope, will keep my vacancies low. Branford Dear Branford: The number one thing you can do to help your residents and yourself is to insulate the attic. In winter time, heat is lost to the attic and out the roof and in summer the a/c will work harder to overcome the heat generated by the attic and warming the interior. Proper attic insulation will keep the heat in during winter the heat out during summer. Talk to your local utility supplier about energy efficiency programs. Many will offer different programs during the year and many are at no or low cost to the property owner. Dear Maintenance Men: Can you give me some ideas on updating the kitchen cabinets in my vacancy? I don’t want to replace them and the counter tops are in good condition.

Dear Tom: Give the cabinets a good scrub before anything else. You will be surprised how much dirt, grime and grease builds up over the years. Use TSP or a good degreaser for cleaning. If the cabinets are wood use lemon oil or re-varnish after cleaning and they will sparkle and look new again. Painting the cabinets will also bring new life to them. You might consider changing the color using a high gloss paint to add a bit of sizzle. Change the hardware. Knobs and hinges are the jewelry of your cabinets. Look for more modern hardware such as stainless steel, ceramic, glass or any type of steel finishes. If your cabinets look plain, add a backsplash above the base cabinets or molding around the doors for an

architectural look. To get color and design ideas, take a tour of some local high end apartments and see what they have done to their kitchens. Please call: Buffalo Maintenance, Inc for maintenance work or consultation. JLE Property Management, Inc for management service or consultation Frankie Alvarez at 714 956-8371 Jerry L’Ecuyer at 714 778-0480 CA contractor lic: #797645, EPA Real Estate lic. #: 01460075 Certified Renovation Company Websites: www.BuffaloMaintenance.com & www.ContactJLE.com www.Facebook.com/ BuffaloMaintenance

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Increase My Rent ...continued from page 6 What do I do with this information? Since you have picked similar properties, you can use the information to adjust your rents to your tenants. You could increase rent, put utility charges in place, charge pet rent or adopt a new charge that one of your competitors has put in place. (For example, 10 years ago virtually no one charged pet rent. Today this cost has become relevant, especially as more and more landlords allow tenants to have pets.) As you evaluate your potential rent increases you should also take occupancy rates and tenant demographics into consideration. You might find that properties in your area have a high vacancy rate and there is no room to increase rents. You also might find that if you raise your rents too high you will lose good tenants that just don’t have any way to manage the rent increase 1 8/30/2013 9:46:48 AM because PGE_SpectrumAd_BW_5.pdf their pay has not increased.

Most tenants can handle a 3-5% increase, but if you increase their rents by 20% they might have to move. As a landlord, you also need to consider the cost of turning your units as part of the equation for increasing rents. It is not unlikely that you could spend $500 to $1,000 for a normal tenant turn and $2,000$5,000 for the total renovation of a 2 bedroom apartment property. A $100 monthly increase in rent could justify a tenant turn with costs up to $1,000, but with costs of $5,000 to fully renovate/update a unit, you will need to be aiming at a rent increase of closer to $250 a month. Don’t be afraid to increase rent. Reviewing your rents on an annual basis is necessary to keep up with the cash expenses and maintain the value of your property. This means that you need to be committed to annual increases as well. However, be very careful if the marketplace is soft. Remember that real estate

investing is cyclical, in some years the rents are strong and in some they are weak. It all depends on the marketplace supply and demand. Apartment developers will keep building until they run into a lack of demand. Bankers will keep lending until they recognize the marketplace is overbuilt. As long as you stay educated and track the marketplace you will make the right decisions on rent and fee increases.

Visit us at www.rentalhousingjournal.com

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Rental Housing Journal Metro • December 2014

RENTAL HOUSING JOURNAL METRO

Us vs. Them ...continued from page 9 disability under fair housing laws, I can guarantee you know someone who does. The truth is fair housing laws protect all of us when we are the housing consumers. And yes, the law is slanted toward the consumer – just like most laws and regulation in this country. Regardless of the industry in question, it is presumed by lawmakers and society that the professional is more knowledgeable and in a greater position of power than the consumer. Based on the bad actions of few (and sometimes many), legislation is proposed to level the playing field and protect consumers. Fair housing laws protect your daughter as she grows up and moves into her first apartment where her onsite manager harasses and sexually assaults her. Fair housing laws protect your elderly parents as they move into a retirement home, designated senior community, or assisted living facility. Fair housing laws protect your neighbor who, because of a war injury or auto injury, now requires the use of crutches, or a walker, or a wheelchair, or perhaps even a live-in caregiver to get around and remain independent. Fair housing laws protect the minimum-wage clerk who bags your goods at the local store who, despite working two jobs, can’t maintain a living wage and receives a rent subsidy. Fair

housing laws protect your gay coworker who’s been in a loving and committed relationship for 10 years but is persistently targeted and harassed by his neighbors. When you realize that people all around you—people you know and care about—are subject to discrimination, the impact of it becomes more tangible. When you realize that many of those people don’t know their rights, the resources or recourse available to them, and, therefore don’t take action to protect themselves, it puts a different spin on the issue. And finally, four: We aim to be a resource. First of all, anyone can call our toll-free, free-service Fair Housing Hotline. Secondly, as a housing provider, you deal with housing consumers day in and day out. You may be the one that brings a fair housing violation to light. How often do you hear stories from clients, residents, or applicants? If those stories involve how someone else involved with housing (for example, other landlords they applied with or a lender they’re working with to purchase their first home, etc.) you may identify something in the story that you suspect violates fair housing laws. You can call us. You can encourage them to call us. In this regard we quite seriously consider you allies in our fight

against illegal housing discrimination! As a former housing provider who served my clients and my trade association with the same passion as I bring to my current job, I encourage you to become a partner in our efforts to eradicate illegal housing discrimination in its many forms. As I’ve said many times, please consider us a resource; use the Fair Housing Hotline at 800/424-3247. Please also consider supporting the work we do at www.FHCO.org/ join_us.htm. To learn how you can get involved visit www.FHCO.org/ get_involved.htm. Be sure to sign up for our newsletter too, to say on top of current issues (at the bottom left of any page on our site).

This article brought to you by the Fair Housing Council; a civil rights organization. All rights reserved © 2014. Write jbecker@FHCO.org to reprint articles or inquire about ongoing content for your own publication. To learn more… Learn more about fair housing and / or sign up for our free, periodic newsletter at www. FHCO.org. Qs about this article? ‘Interested in articles for your company or trade association? Contact Jo Becker at jbecker@ FHCO.org or 800/424-3247 Ext. 150 Want to schedule an in-office fair housing training program or speaker for corporate or association functions? Visit www.FHCO.org/pdfs/classlist.pdf www.census.gov/prod/3/97pubs/ cenbr975.pdf

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vailable for a limited time! Only one of its kind! Offer expires at midnight! These and similar phrases are used to make people “spring boldly into action.” They conjure up images of people rushing into department stores and retail outlets to take advantage of incredible offers on quality merchandise, especially during the holiday season. The advertisers and merchandisers are trying to create a sense of urgency in the minds of their customers; which will motivate them to take immediate action. They are in the “sales” business and want the customer to immediately purchase a product and part with some of their money! You may not have to meet monthly or quarterly sales “quotas,” but undoubtedly you have specific occupancy standards which must be met and maintained. Therefore, you need to rent a certain number of apartments each day, week or month to achieve the goals set for your community. It’s no secret that in the

Pacific Northwest, many prospective renters decide to hibernate for the winter and dig in their heels until after the holidays. The phone isn’t ringing off the hook like it was in July, and the few people who are moving, may or may not make it to your community before they decide to rent somewhere else first. A vacant apartment TODAY, could be “ringing in the New Year” with you on January 1st. The SECRET SHOPPER phoned three communities, looking for immediate availability. I told each consultant that I was new to the area and needed a place to live right away. Each leasing person seemed interested in helping me, but only one motivated me to visit immediately. My first call was answered promptly by a friendly voice. I stated that I was new to the area and needed to find a place right away. The consultant asked where I was moving from and what was bringing me to the area. She then asked for my

name and began to inquire about the specific needs and requirements that I had. It was a pleasant exchange that went on for several minutes. Once the consultant learned what was important to me, she began to talk about various openings. She said that I had called at a good time because there were a couple of great apartments to choose from. The consultant invited me to visit and told me the office hours. She said, “If I’m not here, anyone in the office can help you.” She gave me directions and closed with, “I hope to see you soon.” The next call I made was answered with a great deal of enthusiasm. The consultant asked for my name right away, and I could hear the smile in her voice as she spoke and offered her assistance. I explained that I was new to the area and needed to find a place to live right away. The consultant asked questions to determine my needs and find out what was important to me. She told me there were only two apartments available,

and briefly described the positive attributes of each one. She asked when I would like to come by, and we discussed the driving distance and the fact that it was raining. The consultant said, “It’s been kind of slow today because of the weather. If you want to wait and come by tomorrow, I’m sure the apartments will still be available.” I said, “I think I’ll do that.” The consultant said, “Great! I’ll see you tomorrow!” My final call was met with an energetic greeting and an immediate offer of help. When the consultant learned that I needed an apartment immediately, she said, “Well, you better get right over here because I only have one left!” I laughed and asked if she could tell me a little bit about it first. The consultant described the apartment interior, as well as the view. She explained that the “view apartments” don’t open up very often, and said this one was especially nice because of its southwestern exposure. ...continued on page 18

Rental Housing Journal Metro • December 2014

RENTAL HOUSING JOURNAL METRO

Ernest F. Oriente, The Coach {Article #223…since 1995}

esearch has shown that a person who resigns from your property management company is leaving for one of three possible reasons: a new career opportunity, an unsolicited job offer or for a grievance that has not been handled correctly. Whenever a person resigns from your property management company for voluntary reasons it’s normally a surprise and it can be expensive to replace a valuable team member. This article will outline three important steps for conducting exit interviews, a process which will reduce employee turnover and improve profitability at the same time. Implementing exit interviews: Start by explaining to your property management team that an exit interview will be conducted for any person who is voluntarily leaving your company. When done respectfully, exit interviews send a strong message to your team because it says that you and your company want to know why they are leaving. An exit interview process will also help you and your property management company clearly understand why people are leaving and may give you

valuable clues as to where some improvement needs to be made from within your company. An exit interview process will also give each former employee a chance to tell you why he or she is leaving and this form of closure is both healthy and productive prior to their departure. Tip From The Coach: As you begin to review your exit interview forms, look for trends that might point to deeper problems or might help you see new opportunities. Here are some trends to look for: the average length of time a person works for your property management company before they voluntarily resign, the top three reasons why a person leaves your company, the top three positions with the most turnover, what internal changes might prevent team members from leaving, do you see any turnover patterns within a specific department or group, and what are you doing on a personal level to prevent future resignations. Conducting exit interviews: The next step is to determine how exit interviews are going to be done in your property management company. Here are some typical ways to

conduct an exit interview: give an exit interview form to the person who is leaving and ask them to complete it before their last day, give an exit interview form to the person who is leaving and ask them to mail it back in a confidential envelope, meet with the departing person on their last day to conduct a verbal exit interview or schedule a time to have this person call your human resource department for a telephone exit interview. Tip From The Coach: With many of our property management clients, we have been asked to conduct exit interviews with some of their departing employees, as a neutral third party. We use a custom exit interview form for each property management company and then create a summary of our findings. From this summary, we then begin to address the internal areas that will either reduce employee turnover or make for a more productive and profitable organization. Questions to ask during an exit interview: It has been our experience that each of our property management clients want to create their own custom exit interview form. Here are

some sample questions to get you started with yours: What did you enjoy the most about working for our property management company? What did you enjoy the least and why? What suggestions or feedback can you share that would make our company stronger and more successful? Did we handle your complaint/ grievance in an appropriate and timely way? Were you clear about your career path and future within our property management company? What would it take for you to stay, if that were possible? Is there anything else you would like to share as your final comment? Tip From The Coach: Remember, if exit interviews are handled respectfully, you and your company will gain a wealth of knowledge to help grow, refine, polish and solidify the success of your property management organization. In addition, a departing employee will more than likely offer honest commentary about what is and what is not working in your company. Are you ready to really listen to what they have to say? More importantly, are you ready to take the action steps to resolve, fix, Continued on page 19

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The consultant said she had a model to show, and she could take me by the location of the apartment for rent. She told me they were still getting it ready, but that I could move into it by the week-end. The consultant asked if I had time to come over right now. She said she had another appointment in an hour and if I waited, the upcoming apartment would probably be gone. I agreed to come over within the next twenty minutes. The consultant then gave directions carefully, since I had stated I was new to the area. She suggested I bring along her phone number, in case I get lost so I could call from the road. Before we hung up, she asked for my number to be able to check back with me if I didn’t make it by. The consultant thanked me for calling and ended with, “I look forward to meeting you. I’ll see you when you get here.” What are you doing to create URGENCY when the telephone rings at your community? How do you convince the caller that what you have to offer is worth their time and consideration? Your community may be just one of a dozen competing for their attention. Why should they

visit YOUR place, and why should they DO IT NOW? Is there something about your apartments or community that stands out from all the rest? Could it be a unique floor plan or desirable location? What about the easy access to area conveniences or your sensational staff? Whatever it is, use it to create urgency to get your callers to visit TODAY! Tomorrow is TOO LATE! By then, they will have already rented from the leasing consultant who invited them to visit YESTERDAY! Secret Shopper Provided by: Shoptalk Service Evaluations Phone: 425-424-8870 E-mail: Joyce@shoptalkservice.com Website: www.shoptalkservice.com Copyright © Shoptalk Service Evaluations

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The Coach ...continued from page 17 and improve whatever is necessary? For leading trends about property management since 1995, surf www.powerhour.com Want to hear more about this important topic or ask some additional questions about how to build a custom exit interview form? Send an E-mail to ernest@powerhour.com and The Coach will E-mail you a free PowerHour invitation. Author’s note: Ernest F. Oriente, a business coach/trainer since 1995 [32,850 hours], serving property management industry professional since 1988--the author of SmartMatch Alliances™, the founder of PowerHour® [ www.powerhour.com ], the founder of PowerHour SEO [ www. powerhourseo.com ], the live weekly PowerHour Leadership Academy [ www.powerhourleadershipacademy. com/pm ] and Power Insurance & Risk Management Group [ www.pirmg.com ], has a passion for coaching his clients on executive leadership, hiring and motivating property management SuperStars, traditional and Internet SEO/SEM marketing, competitive sales strategies, and high leverage alliances for property management teams and their leaders. He provides private and group coaching for property management companies around North America, executive recruiting, investment banking, national utility bill auditing, national real estate and apart-

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ment building insurance, SEO/SEM web strategies, national WiFi solutions [ www.powerhour.com/propertymanagement/nationalwifi.html ], powerful tools for hiring property management SuperStars and building dynamic teams, employee policy manuals [ www. powerhour.com/propertymanagement/ employeepolicymanuals.html ] and social media strategic solutions [ http:// www.powerhour.com/propertymanagement/socialmedialeadership.html ]. Ernest worked for Motorola, Primedia and is certified in the Xerox sales methodologies. Recent interviews and articles have appeared more than 8000+ times in business and trade publications and in a wide variety of leading magazines and newspapers, including Smart Money, Inc., Business 2.0, The New York Times, Fast Company, The LA Times, Fortune, Business Week, Self Employed America and The Financial Times. Since 1995, Ernest has written 225+ articles for the property management industry and created 400+ property management forms, business and marketing checklists, sales letters and presentation tools. To subscribe to his free property management newsletter go to: www.powerhour.com. PowerHour® is based in Olympic-town…Park City, Utah, at 435-615-8486, by E-mail ernest@powerhour.com or visit their website: www.powerhour.com

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Rental Housing Journal Metro • December 2014