Rental Housing Journal Metro
April 2015
3. Student Loan Debt Affects Real Estate Investments in a Big Way 4. Is the Flooring in Your Rental Safe? 5. Behind the Leasing Desk with Heather Blume 6. April is Fair Housing Month 7. Tenant Screening – Between a Rock and a Hard Place 8. Angie’s List Shops The Market; Finds Lead-Paint Misinformation & Violations 9. What Does Your Workplace Culture Say About Your Organization?
16. Ask The Secret Shopper 17. Accelerating Housing Costs Have Renters Feeling the Squeeze 18. Energy-Efficiency Improvements Can Help Existing Multifamily Properties Remain Competitive 19. Spring Cleaning for Property Managers 20. Taking A Pulse Check On Your Attitude 21. 10 Cities With Skyrocketing Rent 22. Can You Afford to Lose $230,400 in Leasing Revenue?
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Published in association with: METRO Multifamily Housing Association; Rental Housing Association of Oregon; IREM & Clark County Rental Association
Property Management of Section 8 and Housing Choice Voucher Programs By Marc Courtenay
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f you’re looking for residents who have incentives to pay their rent on time each month look no further. Those who qualify for federally sponsored housing assistance programs backed by the only organization that can legally print money… the federal government…awaits you! The oldest program has been around nearly 80 years! Section 8 of the Housing Act of 1937, authorizes the payment of rental housing assistance to private landlords on behalf of approximately 3.1 million lowincome households. It operates through several programs, the largest of which, the Housing Choice Voucher program, pays a large portion of the rents and utilities of about 2.1 million households. The US Department of Housing and Urban Development (HUD) manages the Section 8 programs. One property manager I interviewed who participates in the Housing Choice Voucher program said she feels secure knowing the government funds will be deposited in her client’s bank account every month. She explained the HUDmanaged program was meant to pay for “a portion” of the rents and utilities of those in its care. But often, as she explained, payments are greater than competitive rental prices. A Real-Life Example of How Section 8 Renters Pay Off for Landlords ...continued on page 15 Professional Publishing, Inc., PO Box 6244 Beaverton, OR 97007
Oregon Markets Showing Increasing Signs of Strengthening,
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Says Veros' Latest 12-Month Forecast Update
eros Real Estate Solutions (Veros), an award-winning industry leader in enterprise risk management, collateral valuation services and predictive analytics, reports that the residential market is gaining momentum with a greater percentage of markets expected to increase in value over the next 12 months, moving upwards to 86% from last quarter's 82%. The latest VeroFORECAST also found two interesting
market areas, one on each coast, that reflect both the predicted top and bottom growth areas in the residential market. The national forecast grew to +3.2% annual appreciation, increasing over the previous VeroFORECAST rate of 2.4%. It is the eleventh consecutive quarter in which the index has shown forecast appreciation, with the pace now indicating an upward ...continued on page 11
Energy-Efficiency Improvements Can Help Existing Multifamily Properties Remain Competitive
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+ In 2014, Energy Trust of Oregon Incentive Programs Saved Over $4.6 Million for Multifamily Property Owners
he U.S. Census Bureau confirmed that Portland is among the 10 fastest growing major metropolitan cities in the country. Portland is also considered a top destination for investors, and for “millennials,” also known as Generation Y, which comprises almost one-third of the Portland population, and 24 percent of the U.S. population.
PRSRT STD US Postage PAID Portland, OR Permit #5460
It is expected that during 2015, the millennial demographic will have $2.45 trillion of purchasing power worldwide across multiple channels. This demographic is environmentally conscious, technically savvy and community oriented -and the Portland metropolitan area is the community where many call “home.” Portland is estimated to add
112,000 new apartment units over the next 20 years. Over 7,000 apartment unit permits were granted in 2014, and approximately 26,000 new units are in the current pipeline. With evidence of a robust and healthy construction market, there’s no better indication that Portland’s multifamily market is in its prime. Attracting younger residents to ...continued on page 10
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