Rental Housing Journal Metro June 2016 by Professional Publishing, Inc

Rental Housing Journal Metro

June 2016

2. Implementing A Utility Bill Back Systems For Multifamily Properties

8. Look to Student Housing for Best Practices in Efficiency

5. How Did We Get Here?

11. Dear Maintenance Men – Utilitarian Upgrades, Smelly Sinks and Fixing Fans

6. Recognizing Excellence

www.rentalhousingjournal.com • Professional Publishing, Inc

12. Ask the Secret Shopper – Teamwork 13. FAQ Comprehensible Reusable Tenant Screening Reports (CRTSR) 19. Multifamily Insights – Swimsuit Edition (Pool Rules)

Portland/Vancouver

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

1Q16 Market Overview Multifamily Housing Update

3 Ways SEO Can Supercharge Your Student Housing Properties

s a leader in SEO and online apartment marketing, I have worked with hundreds of student housing properties and portfolios over the years. Whenever a university community calls MultiFamily Traffic, they always have the same problems for us to fix.

Portland, OR Payroll Job Summary Total Payrolls Annual Change RCR 2016 Forecast RCR 2017 Forecast RCR 2018 Forecast RCR 2019 Forecast

1,125.0m 34.6m (3.2%) 28.6m (2.6%) 16.4m (1.4%) 15.1m (1.3%) 14.4m (1.2%)

RCR 2020 Forecast Unemployment (NSA)

14.0m (1.2%) 4.4% (Apr.)

1Q16 Payroll Trends and Forecast Rapid expansion of the Portland labor market continued over the winter as employers added workers to payrolls at a brisk 34,600-job, 3.2% annual rate during 1Q16, representing the fifth consecutive quarter of 3% or faster growth. Hiring across sectors remained admirably balanced between goods producing, skilled service and consumer service industries. Only the professional and technical service subsector was in any way disappointing as payroll growth in this tech flavored segment decelerated to 1,600 (2.4%) jobs, slowest since 2Q10. On the brighter side, headcounts in the computer system design segment grew at the fastest pace (5.1%) in five quarters, Seasonally-adjusted data also were constructive. This series recorded a 9,600-job January-April advance, down moderately from the 11,500 average recorded over the same period in 2013-15, but on track to produce a fourth consecutive calendar year gain of 30,000 jobs or more. RED Research’s PORT payroll model suggests that metro job creation will fall continued on page 4 Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007

1. The phones in the leasing office are not ringing 2. The property has become occupied only with students, with little or no non-student renters, the property is one step away from becoming a frat-house. 3. They are either in the throes of, or, about to enter the “crazy months” of summer season lease-up. If they don’t get units leased for the next school year now, the property manager may be looking for a job come September.

continued on page 10

Basics of Student Housing

tudent housing can be one of the most profitable niches of buy and hold real estate around. But of course, that’s only if you know what you’re doing. Student housing comes with two major advantages that should attract investors:

Advantage 1 Higher Rents: Students will generally pay a premium since they rent by the bedroom rather than by the house, as a family would. Advantage 2 Almost Guaranteed Rents: By requiring a cosigner from each student’s parents, it’s highly unlikely that you will lose out on any rents or damages. continued on page 18 PRSRT STD US Postage PAID Portland, OR Permit #5460

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Rental Housing Journal Metro

Implementing A Utility Bill Back System For Multifamily Properties By Cliff Hockley, President, Bluestone & Hockley Real Estate Services

s utility costs increase, owners of multifamily properties have searched for a fair method to pass on these expenses. Most multifamily properties in the western states today have been built with separate electrical and gas metering so tenants expect to pay their own electric and gas bills. Landlords have traditionally paid for the water and sewer. This pattern is changing. Especially in large cities and towns, tenants have come to accept utility bill backs. Landlords have many options to pass on these expenses: Often, landlords implement a Ratio Utility Bill Back System (RUBS). (RUBS) is a method of calculating a resident’s utility bill based on occupancy, apartment square footage, number of beds, or a combination of factors. Using RUBS to bill residents for water, gas and/or electricity expenses has several advantages including: • It requires no cash investment to get started • It enables owners to recoup any portion of the overall billings • It can be and quickly

implemented

easily

• It immediately improves cash flow Some landlords and management companies choose an amount of money, say

$40 per month per apartment and use that as an estimate of water and sewage use to pass on to tenants. This approach typically keeps the rate lower to the tenants but can short change the landlords. Many landlords take the bills and divide all of the water costs by the number of units minus an estimate for common area usage such as landscape irrigation and laundry room use. The quotient is passed on as the expense. They pass on the sewer expense using the same ratio. The challenge with this approach is that

many tenants complain about unequal water use, where some tenants use more water than others. Landlords can implement a RUBS system themselves or use a property management company to handle the process for them. Many existing apartments have a utility configuration that does not support the installation of sub-metering equipment. For example, properties that heat water and supply water through a centralized boiler system such as highrise apartment complexes and older con-

dominium units can have multiple pipes supplying water to a single unit. It is cost prohibitive to install several water meters to measure total water usage for each residence. In these cases, RUBS presents an excellent alternative for the owner or association to recover appropriate utility costs and increase cash flow at the property. When landlords use their property management company or a utility management company to manage the process for them , the property managers and/or continued on page 9

Rental Housing Journal Metro · June 2016

Rental Housing Journal Metro

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1Q16 Market Overview ...continued from page 1 short of that target in 2016. The 97.3% adjusted-R2 (S.E.=0.4%) model relies on the metro Case- Schiller Index and personal income growth and the rate of change of U.S. payroll growth (all +) as independent variables. Due largely to macro-model projections that U.S. GDP and job growth will decelerate the PORT payroll model projects a 28,600-job, 2.6% add in 2016, with gradually declining gains to the 1.2% area in 2019-2020. Occupancy Rate Summary Occupancy Rate (Reis) 94.3% 43rd RED 50 Rank Annual Chg. (Reis) -1.3% RCR YE16 Forecast 92.7% RCR YE17 Forecast 93.4% RCR YE18 Forecast 94.1% RCR YE19 Forecast RCR YE20 Forecast

94.6% 94.6%

1Q16 Absorption and Occupancy Rate Trends Space absorption was slightly weaker during 1Q16 as tenants leased a net of 480 units, down from 1,296 units during seasonally-stronger 4Q15 and 551 in the year-earlier period (Reis). Indeed, it represented the lowest quarterly absorption in nearly three years. By contrast, developers delivered 729 new units, yielding a -20 basis point sequential (-120 bps y-o-y) decrease in metro occupancy to 95.1%, a six-year low Larger professionally managed properties performed moderately better. Axiometrics surveys of 243 stabilized, same store properties revealed a 95.4% average in 1Q, down -70 bps y-o-y. Including assets in-lease up the figures were 93.6%,

down –50 bps. Class-C (96.8%) has a lock on highest rate, followed distantly by classes-B (95.4%) and –A (93.5%). Largely class-B-/C East Gresham and Milwaukie submarkets remained 96%+ occupied, but class-A heavy Northeast (95.3%/-90 bps) and Northwest (93.7%/-140 bps) Portland suffered significant tenant attrition. New construction assets leased up at a 17-unit/ mo. pace, up from 12 units in 4Q15. RCR’s PORT demand model (ARS=94.6%, SE=0.4%) uses payroll (+) and inventory(t-1) (+)growth as independent variables. Results are constructive as PORT absorption is projected to range from 2,079 to 3,469 units per year through 2020. That will supersede supply for the most part, but not before 2H17. Until then, occupancy is likely to fall another ~60 bps. Effective Rent Summary Mean Rent (Reis) Annual Change RED 50 Rent Change Rank RCR YE16 Forecast RCR YE17 Forecast RCR YE18 Forecast

$1,337 8.3% 2nd 2.1% 1.2% 3.7%

RCR YE19 Forecast RCR YE20 Forecast

3.9% 3.7%

1Q16 Effective Rent Trends Reis report that effective rent trends rebounded during 1Q16, rising $23 (1.8%) sequentially to $1,337, up from 4Q’s seasonally weaker, equal 4-year low $15 (1.1%) advance. Year-on-year comparisons held steady at 8.3%, nearly replicating results observed in the previous two quarters. Primarily class-B&C Auburn submarket recorded the strongest

same-store sequential gain (2.3%/$938), matched by supply-heavy Downtown/ Capitol Hill (2.3%/ $1,974). Axiometrics same-store comparisons registered an 8.8% yo- y increase, down slightly from 4Q15’s 5-year high 9.2% metric. Class-C easily posted the strongest result (11.6%), topping classes-A (5.8%) and –B (8.8%) for the 6thconsecutive quarter. Among submarkets, largely class-B-/C Kent, Des Moines and Everett recorded 13%+ y-o-y gains, while Beacon Hill, Downtown and North Seattle fell short of 5%. RCR’s SEA rent model includes job (+) and personal income (-) growth, home appreciation(t-6) (+), Baa bond yields(t-1) (-) and vacancy(t-1) (-) as independent variables to achieve a 97.2% ARS (S.E.=0.3%). The model finds that the projected sharp increase in vacancy expected in 2016-17 overbalances the positive impact of robust home price appreciation to inhibit rent growth for the next two years. Above average growth is projected to return in 2018 as supply levels decline and the metro occupancy rate improves. Trade & Return Summary $5mm+ / 80-unit+ Sales 23 Approximate Proceeds $923mm Average Cap Rate (FNM) Average Price / Unit Expected Total Return RED 46 ETR Rank

5.6% $188,068 5.2% 33rd

Risk-adjusted Index RED 46 RAI Rank

3.2 34th

1Q16 Property Markets and Total Returns Sales velocity was steady in 1Q16 as 13 properties valued at $5 million or more exchanged hands, matching 4Q15’s tally. Sales proceeds totaled $419mm, representing a 2.2% increase over the prior quarter. The average price per unit metric increased 12.7% from $174,253 to $196,424, benefiting from the sale of three properties valued at $250,000 or more, including one asset that traded at $412,000/ unit, third highest price ever paid in this market. Nevertheless, the unit-weighted age of sold properties increased from 23 to 25 years, suggesting investors are growing more inclined to pursue value add situations. Cap rates for recent construction trophies were mostly in the low-4% area, although buyers are prepared to go as low as 3.6% for assets with upside potential. Class-B's traded in the mid-4% to 5.2% range. While value adds could be found in the mid– to-high 5% neighborhood. Aggressive pricing for mid-rise trophies convinced RCR to trim the cap rate proxy 5 basis points to 4.7%. At this purchase level, model derived occupancy and rent point estimates and a 5.3% terminal cap we calculate that a PORT investor would expect to achieve an 8.2% unlevered total return over a 5-year hold. This ranks third among the R46 peers. Above average payroll and rent model standard error hinder risk-adjusted returns: PORT ranks R46 #20. By Daniel J Hogan

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continued on page 15

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President: John Sage Vice President: Phil Owen President Elect: Ron Garcia Secretary: Lynne Whitney Treasurer: Elaine Elsea

John Sage, RHA Oregon President

Past President: Elizabeth Carpenter Office Manager: Cari Pierce

President’s Message

How Did We Get Here?

ith Primary elections over and the General elections on the way things are getting very interesting in Oregon politics. The usual subjects are coming out and being bandied about. Seems to me that all of the discussion is about “who is to blame?” and not “how do we solve this?” Why is it that solutions are the last thing to be discussed and so much time is spent on trying to place the blame? Does it matter how we got here? Does having someone to blame make the issue any less critical? Well, first let’s take a look at the “How we got here?” portion. Anyone ever use a map to find your way to another destination? I can remember a time when there wasn’t any GPS and you had to be able to read a map or get directions from someone who had already been there, or you just wandered around until you stumbled upon the location you were trying to find. Now of the above choices, which do you think worked the best? Interestingly, the map worked pretty well most of the time. You could find a route to the location you were headed with a fairly accurate idea of the time it would take and the type of roads you would encounter. You could see the best locations for getting gas or meals when needed and if it would be a particularly long trip. You could decide where the

best places to stop for the night would be or where to just stop for a short rest. But there were some things you could never know until you were actually on the way. Were all of the roads open? Was there any construction or detours that would take you off your chosen path? Were the gas stations open late enough for you to get to your destination for that day of travel? What types of restaurants were you going to find? Now if you were to use the second option for travel, asking someone for directions, then you could get answers about the types of roads you might find and if there were any detours or construction on

the way. Where is the best place to stop for food or gas? Also, is there anything of interest that would make the trip more fun? Like the world’s biggest anything or an unusual museum! What makes the route they are telling you to take one that you would want to travel? The only drawback to this option is that you would have to trust that the directions they are giving you are in your best interest and will lead you to the destination you want to arrive at. Lastly, you can just wander aimlessly until you stumble upon your destination. This doesn’t seem to be the best way to find anything. You waste a lot of time and effort. There is a lot of doubling back because you choose a dead-end at times and you end up covering a lot of ground over and over again. I found out that the best thing was to use a combination of the first 2 options. A good map with a clear route on major roads and with plenty of options for food, supplies, and overnight stops, if needed,

10520 NE Weidler, Portland, OR 97220 (503) 254-4723 • Fax (503) 254-4821 info@rhaoregon.com • www.rhaoregon.org

worked best. Then I would find someone who had traveled to the same destination and go over my plan with them. Their input was invaluable and saved me countless headaches. Since I had an idea of what the road ahead could bring, I was able to relax and enjoy the ride. So what is the whole point of this discussion about finding your way to a destination? Well, I am concerned with our government’s, both local and state, longterm map or direction. There seems to be no thought about the long-term effect or unintended consequences of the changes that are being implemented. The “We will straighten it out after we get there” attitude is not working. Please remember these words “Those who do not learn from history are doomed to repeat it”George Santayana. Sincerely, John Sage President RHA Oregon Stegmann Insurance Agency

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Rental Housing Journal Metro · June 2016

Rental Housing Journal Metro 16083 SW Upper Boones Ferry Rd, Suite 105, Tigard, OR 97224 503-213-1281 | Fax 503-213-1288 | www.multifamilynw.org

Recognizing Excellence Dave Bachman President of Cascade Management

xpectations are often driven by what we learn and therefore know to be successful. Without expectations, we would have no benchmarks. As it relates to our work, expectations keep us focused and working toward successful outcomes. Without expectations, excellence would be only achieved by luck, and failure would be commonplace from continuous trial and error. In the multifamily industry we do not have the luxury of failure but we must always be mindful of expectations â&#x20AC;&#x201C; those benchmarks often created for us by those that strive and achieve the highest standards of excel-

lence. This holds true in an ever changing industry where setting a higher bar can be difficult to reach. There are never enough instances to truly recognize those in our industry that do make a significant dif-

ference. When an individual consistently displays traits of knowledge, skill, service and a personality to go well above beyond, we should recognize their impact.

On May 26, 2016 Multifamily NW held the annual ACE Awards as we recognized professionals in multifamily housing who have worked extremely hard to attain a level of performance that exceeds expectation and demonstrates excellence. The awards recognize the best of the best in our industry who continually work to set the example of how to provide the best service to our residents, communities and our organizations. These individuals not only often display excellence in their work. These individuals often also inspire and influence everyone around them. Just to be nominated qualifies as an honor and an achievement. It takes significant effort from organizations and individual contributors to create a nomination. When the nomination is created, it truly acknowledges devotion to performance at the highest level. continued on page 7

Upcoming Events with Multifamily NW 6/10/2016 6/14/2016 6/20/2016 6/22/2016 6/24/2016 7/5/2016 7/6/2016 7/7/2016

Project Management CAMT: Electrical Part I & II EPA Lead-Based Paint Renovation Certification 8-Hour CAM: Financial Management Unit Inspections and Turnover Techniques CAMT: Interior/Exterior (Portland, OR) New Hire Mold Awareness

7/8/2016 It's the Law - Across the River: The Differences between Washington and Oregon Laws 7/11/2016 Hot Topics in Fair Housing 7/13/2016 CAM: Legal Responsibilities 7/14/2016 PDX Charity Golf Tournament 7/19/2016 Cruel and in Property Damage Restoration 7/21/2016 CAS: Supplier Success

Form of the Month Notice of Violation Form M040 Holding tenants responsible for violations of the Rental Agreement is one of the most critical roles of a landlord or property manager. The Notice of Violation form provides an easy template to take the initiative to enforce the rules to help maintain peace and order to your property. Although this form does not terminate the tenancy, it does assertively and politely remind the tenant of the violation and creates a useful written record your response.

Rental Housing Journal Metro Âˇ June 2016

Rental Housing Journal Metro 16083 SW Upper Boones Ferry Rd, Suite 105, Tigard, OR 97224 503-213-1281 | Fax 503-213-1288 | www.multifamilynw.org

Recognizing Excellence ...continued from page 6 Multifamily NW is an association dedicated to the on-going development, support, and education of professionals in our industry. It is often the association setting the benchmark so that the entire community of owners, landlords and residents all benefit. Multifamily NW provides the training, advocacy and networking opportunities that set the stage for this opportunity. Additionally, our affiliation with NAA, the National Apartment Association, allows us even stronger voice and support. Industry designations are offered through NAA, further enhancing professional development and strengthening our influence as a professional association that educates and builds career paths. The pace of changes in our industry will continue to challenge. As we consider how to further promote new development that adds housing supply to our market we must also consider who will be providing the direct hands on service to those communities and residents. It will require collaboration and stretch capacity in certain areas placing the focus on standardizing the benchmarks that we see driving excellence. This is how Multifamily NW and its’ member organizations will successfully build support teams to serve all of our existing and new communities. This is how we move forward as an industry and we should never forget the many individuals working in it that continue to build on our successful outcomes.

Congratulations to the 2016 ACE Awards Recipients Affordable Housing Manager of the Year

Brittany Baskins, GSL Properties, Inc.

Assistant Manager of the Year

1‐199 Units

Rian Ulsh, Guardian Real Estate Services

Assistant Manager of the Year

200+ Units

Nisha Patel, Prometheus Real Estate Group

Civic Award

Grace Brown, Greystar

Leasing Associate of the Year

Jade Jurdy, Greystar

Maintenance Manager of the Year

1‐99 Units

Paul Jordan, Cascade Management, Inc.

Maintenance Manager of the Year

100‐199 Units

Ruben Garcia, Cascade Management, Inc.

Maintenance Manager of the Year

200+ Units

Ezequiel Cilenti, CTL Management, Inc.

Maintenance Tech of the Year

1‐199 Units

Clint Leigh, Guardian Real Estate Services

Maintenance Tech of the Year

200+ Units

Austin "Kody" Stevens, Greystar

Portfolio Manager of the Year

Sonia Romero, Cascade Management, Inc.

Property Manager of the Year

1‐99 Units

Todd Keith, C&R Real Estate Services

Property Manager of the Year

100‐199 Units

Vera Llorente, Madrona Ridge Residential

Property Manager of the Year

200+ Units

Chris Pasteur, Sequoia Equities

Property of the Year

1‐10 Years

Victory Flats at Elmonica Station, Simpson Property Group

Property of the Year

10+ Years

Altamont Summit, Sequoia Equities

Renovated Property of the Year

Harrison Tower, Sequoia Equities

Rookie of the Year

Anna Sowles, Dalton Management, Inc.

Ross Dey Award

Deborah Imse, Multifamily NW

Senior Housing Manager of the Year

Joe Muller, Cascade Management, Inc.

Single‐Family Manager of the Year

Alicia Lindsey, Bison Properties

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Look to Student Housing for Best Practices in Efficiency

By Scott Matthews, Director, Strategic Accounts, The Home Depot

tudent housing property managers face a specific dilemma when it comes to turning units: most of the tenants move at the same time. This presents a number of challenges, including strains on resources, inventory, storage, delivery and the general stress of project management, all of which make for a difficult transition between moving dates. Because student housing property managers have to handle this process so quickly, their best practices can be viewed as a model for how to turn units efficient-

ly. For suppliers and service providers, we can sometimes see the pain points clearly though from a perspective of outside looking in. Having seen some of the best managers in the business tackle this unique challenge with ease, we pulled together a few things that set them apart.

Minimize external partners Outsourcing to multiple suppliers and service providers creates unnecessary time and hassle. Finding one partner that

can handle end-to-end project management frees you up to focus on more important responsibilities – like growing your business.

Stock Inventory As you start to proactively source products in advance, look for a single source of in-stock inventory for all the products required. Also, consider your source’s geographic footprint. If the provider has a solid number of nearby locations, staff members don’t have to travel a long way for the random missing tools or emergen-

cy repairs that inevitably pop up throughout the year.

Fulfillment Options A good partner will offer a variety of fulfillment options, such as the ability to order a product online, on location or over the phone. This allows you to keep business moving no matter where you are or what you need. Look into your options for delivery and pick up. Benefits like specific delivery windows or the ability to continued on page 17

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Rental Housing Journal Metro

Implementing A Utility Bill Back System...continued from page 2

utility management companies will tack on an extra processing charge to the bill, which typically has to be paid by the landlord. Laws in every state are different regarding the costs of utility bill backs.

Other options Water sub-meters can be installed when a building is constructed or a sub-meter can be installed on the hot water side of the hot water heater within an existing structure when each unit has its own hot water heater. Meters can be read electronically or via a meter reader (by either a meter reading company, an on-site manager, or an on-site maintenance tech). If the meters are read electronically, they are downloaded to a system in the manager’s office. From there, the information is transferred via phone line transmitters and receivers back to the multifamily utility company headquarters. Individual meter readings are then imported into a billing system which creates

and sends individual utility bills to the tenants. A monthly utility reimbursement check is then sent to the owner, manager, association manager or whoever is in charge of receiving payments. If the tenants don’t pay the utility billings it is up to the property manager to make sure the water bills are collected. To implement this system, the landlord needs to be prepared to advance the capital expenses to install the system. This system offers more accuracy on about amount of water and sewer that is being used. Usually, garbage bills can be billed back to tenants via RUBS as well. If each tenant has an individual garbage can, you can usually bill back by the can. The key is to bill back a fair amount.

Oregon Laws In 2013, laws were passed to address utility and service sub-meter and RUBS charges at multifamily properties. The

current language is provided below for reference. This clarifies how RUBS can be used in the state of Oregon.

According to OR90.536: Charges for utilities or services measured by sub-meter (1) If a written rental agreement so provides, a landlord using the sub-meter billing method described in ORS 90.532 (Billing methods for utility or service charges) (1)(c) may require a tenant to pay to the landlord a utility or service charge that has been billed by a utility or service provider to the landlord for utility or service provided directly to the tenants space as measured by a sub-meter. (2) A utility or service charge to be assessed to a tenant under this section may consist of: (a) The cost of the utility or service provided to the tenants space and under the tenants control, as measured by the

sub-meter, at a rate no greater than the average rate billed to the landlord by the utility or service provider, not including any base or service charge; (b) The cost of any sewer service for wastewater as a percentage of the tenants water charge as measured by a sub-meter, if the utility or service provider charges the landlord for sewer service as a percentage of water provided; (c) A pro rata portion of the cost of sewer service for storm water and wastewater if the utility or service provider does not charge the landlord for sewer service as a percentage of water provided; (d) A pro rata portion of costs to provide a utility or service to a common area; (e) A pro rata portion of any base or service charge billed to the landlord by the utility or service provider, including but not limited to any tax passed through by the provider; and continued on page 18

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Rental Housing Journal Metro

3 Ways SEO Can Supercharge...continued from page 1 MARKETING

Having spent most of the last decade focused on SEO and online apartment marketing, I have seen fir5st hand what it takes to solve these problems for our student housing clients. I worry about the properties that haven’t shared this focus. I feel for property managers who are working their tails off right now and are worried about how corporate will look at them come the fall. In student housing there is no margin for error and a property manager is either a hero or a zero. If you are stressed out, below are 3 ways you can use SEO to supercharge your student property and make sure you are the valedictorian of your company. Are you ready to move to the head of the class? Follow these 3 simple steps: Laser target your audience: Most student housing properties have no idea what the top keywords students are searching for in the area and consequently they have no clue where their property ranks on Google for those keywords. Keywords are the words and phrases that students type into the search box of a search engine, such as Google, to find apartments that match what they are looking for. Some keywords have thousands of unique searches while others get zero. For example, “apartments near ASU” has 14 times more renters searching it than “apartments for rent near ASU”. The biggest mistake a property manager can make is trying to guess at what students are “asking Siri” or typing into Google. As reader of Rental Housing Journal, just call our office at 888-683-5885 and we will tell you the top 10 keywords for your property and where your website ranks for them at no charge. Once you know your keywords you can go to work laser targeting the ones that have maximum search behind them. SEO can get you to the top of search engines and leave your competing communities fighting over the keywords nobody is searching for. Load Balance the rent-roll: Many times property managers call us after their property has already become the satellite home of Phi Delta Theta and Sigma Nu. Students are great, and if you specialize in off campus housing, they are

your lifeblood. But one of the best things you can do for your property is to balance your rent-roll with non-students. This will provide you a buffer for the extreme seasonality of student housing and help keep the community sane, clean and livable for everyone. The fastest way to achieve a healthy balance is to use the same laser targeting described above for non-students. Returning to our ASU example; “apartments in Tempe” will broaden your exposure to non-students. If your property is an A property targeting “luxury apartments Tempe” and “Tempe luxury apartments” will bring hundreds of high-end renters calling into the leasing office month after month. Compensate for seasonality: The final problem we always have to solve for our student properties is how to turn their crazy seasonal lease ups into smooth open enrollments filling all of the units for the upcoming year in a fraction of the time is takes the rest of the communities in the area. Although getting your property ranked for the top student and non-student keywords goes a long way. We often put our student communities on steroids during the crazy months; we manage a Google AdWords campaign for them. AdWords (Google AdWords) is an advertising service by Google for apartments wanting to display ads on Google and its advertising network. The AdWords program enables student housing properties to set a budget for advertising and only pay when people click the ads. Conclusion: Proper use of SEO can be the difference between the Dean’s list and the Dunce Cap. Finding the right partner to help you manage your online presence can help you become your management company’s star pupil. Matthew Easton is EVP of MultiFamily Traffic a SEO firm dedicated to making the phones in your leasing office ring. . MultiFamily Traffic professionally manages these campaigns making the phones rings with only the most qualified renters and saving each of our properties 40% - 70% on what they would have paid if they went to Google by themselves You can reach Matthew directly at 303-8037372 or m.easton@multifamilytraffic.com

Helping apartment owners Investment Real Estate

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Rental Housing Journal Metro · June 2016

Rental Housing Journal Metro

DEAR MAINTENANCE MEN: Utilitarian Upgrades, Smelly Sinks and Fixing Fans

By Jerry L’Ecuyer & Frank Alvarez

Dear Maintenance Men: I am a rehab project on a building that consists of all two bedroom one and three quarter baths. The three-quarter bathrooms have a sink, toilet and bathtub, but no shower. I would like to convert them to a full bath by adding a shower. How do I do it? Bill Dear Bill: This is a great upgrade to any unit. There are a number of ways to go depending on your budget and do-it-yourself skills. The most economical and simple solution to adding a shower to a bathtub is to install a diverter spout that includes a 1 half-inch hand shower fitting. The hand shower can be sold separately or as a kit with the spout. Connect the hand shower hose to the spout and hang the showerhead on the wall. Other than installing waterproof shower walls, you are ready to go. The second option is a bit more involved, but a much better solution. Because most tub only bathroom usually have no wall tile or “shower wall” mate-

rial, gaining access to your existing valve & plumbing system should be easy. Let’s begin with the items you will need to start your project. (If you have an existing twovalve system, now is the time to go to a modern single valve set-up.) The easiest apartment application valve to buy is ei-

ther a Moen or Mix-it valve. There are many other brands to buy depending on your budget. The kit will come with a valve, spout, shower arm and head. You will still need to purchase a half inch copper pipe at least 56 to 59 inches long, a 90 degree brass elbow, slip to thread with

ears to attach it to the wall stud at the shower head. Be sure you have a full propane torch with solder. Now you are ready to install. Don’t forget to turn off the water. Since you will be installing new shower walls, don’t worry about damaging drywall. Cut a hole in the drywall stud to stud, 12 inches high at the existing valve level. Then cut a 4 inch wide strip of drywall 59 inches up from the location of the existing valves. Now that everything is exposed, remove the old valves, by cutting or use the propane torch to melt the solder joints. Install the new valve in place, cut a half inch copper riser between 56 and 59 inches and solder to the valve. Solder the brass 90-degree elbow to the pipe and screw the elbow to a cross stud. If you could not find an elbow with ears, use plumbers tape or a pipe hanger to secure the elbow in place. Test your plumbing installation for leaks. Replace existing drywall around the tub with green board drywall or cement board. Install shower wall material of your choice. We recommend a one-piece continued on page 17

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

Call 503-221-1260 for more information Rental Housing Journal Metro · June 2016

Rental Housing Journal Metro

sk The Secret Shopper Teamwork

he importance of teamwork cannot be overstated or emphasized enough. Yet sometimes boundaries are so clearly drawn regarding the role or “job description” of each staff member, those employees who desire to “go the extra mile” are powerless to act and are forced to watch prospects and residents “fall through the cracks.” Here is a question which brings up the issue of maintenance and leasing staffs getting involved with each others’ responsibilities:

Is it appropriate for maintenance staff members to get involved in the leasing process and how far should they go? A

This is an important topic, and it raises another question: Is it appropriate for leasing/office employees to get involved in some aspects of maintenance and how far should they go? Many companies have to make difficult budget cuts in their payroll and reduce the size of their onsite leasing and maintenance staffs. The result is less office coverage and slower response time to resident requests, as one or two team mem-

bers are trying to do the jobs of three or four people. Providing some “basic” training to your leasing and maintenance personnel to create an “overlap” in their job responsibilities will take some of the pressure off your team members during the busiest times of the month. It will also provide better service to prospective residents and existing residents. If a leasing person is away from the office and a maintenance staff member encounters a prospective renter, the main-

tenance person at the very least could extend a warm, friendly greeting. The visitor could be made comfortable and offered refreshments, if available, and be given a brochure to look at while he or she is waiting. If a guest card or visitor log is available, the maintenance person could request that it be filled out. Then, if the waiting time becomes excessive and the prospective renter has to leave, there will be a record of the visit, and a way for the leasing person to follow up.

Office personnel can provide this same type of support to their maintenance staffs, who are busy turning apartments and handling service requests. Every person working in the office can be taught how to operate a plunger and an Allen wrench. Leasing team members must also be willing to pass out flyers, pick up litter, sweep sidewalks, maintain common areas, etc. If you are constantly paging maintenance to pass out your lease renewal letters or handle minor messes around your community, then you are delaying the make ready process, as well as prompt service to your residents. REMEMBER: Being part of a team means doing whatever it takes to get the job done; whether it’s your job or not! If you are interested in leasing training or have a question or concern you would like to see addressed, please reach out to me via e-mail. Otherwise, please contact Jancyn for your employee evaluation needs: www.jancyn.com ASK THE SECRET SHOPPER Provided by: Joyce (Kirby) Bica Former owner of Shoptalk Service Evaluations Consultant to Jancyn Evaluation Shops E-mail: shptalk2@gmail.com Copyright © Joyce (Kirby) Bica

Order Your Free Recycling Resources Now! 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: our free tools and resources 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.

Look for these free resources in your mailbox or visit www.portlandoregon.gov/bps/multifamily Need more information? Multifamily Resource Line: 503-823-7224 Email: multifamily@portlandoregon.gov

Rental Housing Journal Metro · June 2016

711 Powell Ave. SW, Suite 101 Renton, WA 98057 (425) 656-9077 • (425) 656-9087 (fax) admin@wmfha.org

Executive Director - Jim Wiard Treasurer - Sheri Druckman

Board President - Brett Stevens Secretary – Laura McGuire

Vice President - Becky Sanders

Vice President of Suppliers Council - Rob Pendleton

Immediate Past President - Kris Buker

Frequently Asked Questions

Comprehensive Reusable Tenant Screening Reports (CRTSR) Washington State Law (ESB 6413) effective date June 9, 2016 Q: What is included in a CRTSR?

Q: What language do I use to comply with the law?

A: As defined by law, the report must include:

A: There is no specific language outlined in the law. Our recommendation is to state one of the following depending upon your acceptance:

1) A consumer credit report prepared within the previous 30 days; 2) A criminal history which includes convictions, pending cases, a sex offender registry search and terrorism database search where final disposition occurred within the previous seven years; 3) An eviction history containing any records of unlawful detainer actions from the previous seven years; 4) An employment verification; and 5) An address and rental history.

Q: What am I required to do under the new law? A: You are required to indicate whether you accept a CRTSR: 1) in your screening criteria, and 2) on the internet homepage maintained by you, where you advertise your property for rent. For example, if ABC Rental Company maintains one website for multiple properties, each property’s ‘home page’ must indicate whether you accept a CRTSR; the statement should not be on ABC Rental Company’s main webpage.

“We accept comprehensive reusable tenant screening reports” “We do not accept reusable tenant screening reports”

Q: Does a CRTSR provide less information than a regular tenant screening report? A: A CRTSR provides as much or more information than a conventional screening report. Q: Will the CRTSR include a recommendation? A: At this time we are unaware of any such CRTSR that provides a recommendation unless you have an agreement established with the screening company providing the report. Q: What if a tenant brings me a paper copy? A: CRTSRs are accessed electronically through an internet website with a secure portal only. A paper copy is not considered an accepted form.

Q: What if I use a third party website like Craigslist or Zillow, etc. to adQ: Am I required by law to accept a CRTSR? vertise my rental property?

A: You do not have to indicate whether you accept a CRTSR on a third party’s A: No, the law does not require you to accept a CRTSR. However, the law does require that you indicate whether you accept CRTSRs on the property’s homepwebsite that is not maintained by you. age and in the screening criteria. Q: If I indicate that I accept a CRTSR at one property, do I have to accept CRTSR at all of my rental properties? A: No, you have the opportunity to choose which properties will or will not accept a CRTSR. Q: If I indicate that I accept CRTSR, does that mean that I can’t obtain my own screening report? A: You can obtain your own screening report from your regular tenant screening company so long as you do not charge the tenant for the report if they have given you access to a CRTSR. Q: What is the penalty if I don’t comply with the law? A: A tenant may recover a $100 penalty, court costs and attorney fees if you do not indicate in your screening criteria whether you accept a CRTSR. The information provided in this document is given for general guidance only and should not be considered legal advice. You are encouraged to consult your legal counsel or call our office directly if you have any questions.

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Rental Housing Journal Metro

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just for upgrading. Amanda Schulz, business manager The Wyatt Apartments, Portland, Oregon

Get more from your energy. To learn more visit www.energytrust.org/multifamily or call 1.877.510.2130. Serving customers of Portland General Electric, Paciﬁc Power, NW Natural and Cascade Natural Gas.

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Rental Housing Journal Metro · June 2016

Rental Housing Journal Metro

1Q16 Market Overview ...continued from page 4

The information contained in this report was prepared for general information purposes only and is not intended as legal, tax, accounting or financial advice, or recommendations to buy or sell currencies or securities or to engage in any specific transactions. Information has been gathered from third party sources and has not been independently verified or accepted by RED Capital Group. RED makes no representations or warranties as to the accuracy or completeness of the information, assumptions, analyses or conclusions presented in the report. RED cannot be held responsible for any errors or misrepresentations contained in the report or in the information gathered from third party sources. Under no circumstances should any information contained herein be used or considered as an offer or a solicitation of an offer to participate in any particular transaction or strategy. Any reliance upon this information is solely and exclusively at your own risk. Please consult your own counsel, accountant or other advisor regarding your specific situation. Any views expressed herein are subject to change without notice due to market conditions and other factors.

continued on page 16

Rental Housing Journal Metro Âˇ June 2016

Rental Housing Journal Metro

1Q16 Market Overview ...continued from page 15

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Rental Housing Journal Metro · June 2016

Rental Housing Journal Metro

Look to Student Housing ...continued from page 8

Dear Maintenance Men ...continued from page 11 wrap around shower wall system available at your local home center.

Dear Maintenance Men: My rental unit has a kitchen with a double sink. The drains smell very bad. I have tried running lemon slices through the garbage disposal, it works for a short time, but the smell comes back. What steps do you recommend for resolving this problem? Barbra

place retail orders in advance and have them ready for pickup are not to be overlooked or undervalued. These can save significant time and money when unforeseen but inevitable issues arise.

Custom Delivery Once the product is sourced, create a custom delivery schedule. Big ticket items like appliances might need to be stored temporarily until it is time for installation. Save the hassle of outsourcing that storage to an additional vendor or facing the added expense of several different shipments before the items finally arrive. Look for a partner who can customize your delivery as part of a larger project management offering.

in the future. Again, a provider with an extensive footprint and local, brick-andmortar resources is essential here. Turning units is one of the most logistically challenging processes a property manager will face, but identifying a turnkey partner to streamline the process makes things run more efficiently, frees up your time and gives you the reassurance of working with one person or team from start to finish. It also grants you the time to focus on tenant satisfaction and other property responsibilities. By Scott Matthews, Director, Strategic Accounts, The Home Depot

Ongoing Services Building a trusted partnership during a busy season will also help with any last minute or quick needs that may pop up

Rental Housing Journal Metro Âˇ June 2016

Dear Barbra: The smell may come from a number of places. First, use a small toilet type bush with soap and scrub the inside of the garbage disposal. This will remove any slime build-up. (For safety reasons, shut the garbage disposal off at the breaker or pull the plug.) Next remove the drain trap and clean out any sludge. Many times the horizontal pipe between the trap and the wall may have hard deposits coating the inside of the pipe. The deposits will collect food and debris that may slow the drains considerably. If you have a dishwasher, check the drain line leading from the airgap or dishwasher to the garbage disposal. It may be full of sludge that will cause a smell to come through the air-gap located next to the faucet. Clean or replace any pipes with deposits or sludge. Check both drain lines for the above problems. Now if you wish, run the garbage disposal with a few slices of lemon and it should smell good and stay that way. Once in a while, throw some ice cubes in the garbage disposal unit to help scrape away any debris. Dear Maintenance Men: I have a problem with moisture buildup and wall damage in my apartment bath-

rooms. The bathrooms do not have windows as they are constructed away from any exterior walls. They do have vent fans, but they donâ&#x20AC;&#x2122;t seem to do the job. How can I solve this problem? Bill

Dear Bill: First things to check is whether your vent fans are working and not clogged with lint or dust. If the fan is operating properly, check the CFM or Cubic Feet per minute of air movement. The minimum number should be 50 CFM. If the bathroom is getting more than the average amount of use, you may want to replace the existing fan with one that has a higher CFM rating. We recommend using at least a 120-CFM fan. And equally important, many bathrooms have two wall switches; one for the light and the other for the fan. If this is the case, we recommend combining the two switches into one. That way when the resident switches on the light the fan will come on automatically. We find most residents will not turn on the fan if it has its own switch. Bio: 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 Lâ&#x20AC;&#x2122;Ecuyer at 714 778-0480 CA contractor lic: #797645, EPA Real Estate lic. #: 01460075 Certified Renovation Company www.BuffaloMaintenance.com www.ContactJLE.com www.Facebook.com/BuffaloMaintenance

Rental Housing Journal Metro

Basics of Student Housing....continued from page 1

Unfortunately, like with all good things, there are also disadvantages:

Disadvantage 1 Annual Turnover: Unlike with other rentals, most students will leave every year requiring you to release the unit annually. Disadvantage 2 College Students Often Engage in College Student-esque Behavior: While the cosigners you get should protect you from losses, college students have a way of damaging pretty much anything inside and outside of a house or apartment. The most important thing to look for in student housing is that the market isn’t oversaturated. Many developers have been building around college campuses lately and are thereby driving down rents and driving up vacancy. You don’t want to come late to the party (that, by the way, college students will almost certainly be throwing). Furthermore, it’s important to make sure that the university you’re looking to invest around isn’t a so-called “commuter school.” Many community colleges and the like could be called such because students often don’t live particularly close

to campus. Investments around such schools can work out great, but they don’t drive the kind of premium rents like four year universities do. In other words, you need to know what you are getting into. Around more established universities with students looking for nearby, off-campus housing, there will be several zones, for lack of a better word. So for example, Zone 1 is very close to the campus and students pay a large premium. Zone 2 is approximately five to fifteen blocks from campus and perhaps only on one or two sides of the university and students will pay a decent premium. Beyond that is hit or miss. We have found that the best bang for your buck can be found in properties that lie around Zone 2, since Zone 1 will typically be bid up by more institutional investors. You will need to be ready to deal with multiple turnovers that all happen at about the same time. However, if you can handle such turnover, there are great profits to be made in student housing. Andrew Syrios is a real estate investor and property manager living in Kansas City. He is a partner in Stewardship Properties, which owns properties in Oregon, Texas, Kansas and Missouri.

Implementing A Utility Bill Backing ...continued from page 9

(f) A pro rata portion of the cost to read water meters and to bill tenants for water if: (A) A third party service reads the meters and bills tenants for the landlord; and (B) The landlord allows the tenants to inspect the third party’s billing records as provided by ORS 90.538 (Tenant inspection of utility billing records). (3) Except as provided in subsection (2) of this section, the landlord may not bill or collect more money from tenants for utilities or services than the utility or service provider charges the landlord. A utility or service charge to be assessed to a tenant under this section may not include any additional charge, including any costs of the landlord, for the installation or maintenance of the utility or service system or any profit for the landlord. [2005 c.619 §8; 2009 c.305 §3; 2011 c.503 §8]

Summary Utility bill back systems give landlords the ability to improve their bottom line. Using RUBS, landlords can install a utility bill back system without advancing any capital expenses. On the other hand, the amounts billed back are only close estimates. The electronic bill back system is more accurate. Billing back for a proportionate share of garbage also makes sense for landlords. The bottom line is that it is definitely worth it for a landlord to bill back utilities. Not only is the bill passed on to the tenants, but more importantly, the tenants will pay more attention to the utility use which reduces costs and helps the environment.

Rental Housing Journal Metro · June 2016

Rental Housing Journal Metro

Multifamily Insight Swimsuit Edition (Pool Rules) By John Wilhoit Jr., Multifamily Insight

s summer approaches commercial pools across the country welcome tenants and friends of tenants. Are your “pool rules” posted? No glass, no running. Postings about attire? We are generally unconcerned about attire. However, regarding what is tasteful, there is always someone willing to test the boundaries of public opinion. Since most properties are without a full time “pool police” good behavior is based substantially on the honor system. This honor systems assumes (assume being one of my least favorite words) people will be guided by society’s rules of decency. Are we fooling ourselves here? Decency, after all, is subjective. Fore example; everyone likes a good looking swimsuit. We like them even more when displayed by someone that can wear them well. When it comes to clothing we hope common sense prevails. Whether in the bible belt or a stone’s throw from Hollywood Blvd, we hope the “essentials” are covered and remain that way in our public areas on property. Fortunately, at the property level, no one need be in charge of regulating good taste in swimwear. Unfortunately, there are those occasional lost souls (or drunken, or exhibitionist souls) that see the pool party audience as an opportunity to strut their stuff (literally). Here is where “community action” comes in.

Whereas many properties have on-site management, many do not. And those with a pool (an un-supervised pool) must rely on self-patrolling of errant behavior. • Consider posting the office telephone number in the pool area so that any residence or guest enjoying the pool can reach for their handy cell phone to report behavior that endangers safety or quiet enjoyment. • Consider posting more rules than fewer rules. No diving “cannot” be presumed. Same with smoking. Unless it’s posted as a non-smoking area then smoking is assumed to be allowed. • Make absolutely certain to post pool hours. • Check your pool insurance rider. It may have certain added pool postings that are required for your policy to remain in full force. • Water, pool guest and animals are always a bad idea. • Sign size. Most municipalities have a minimum size. Find out prior to buying a new sign (that’s three inches too small). Pools are a seasonal community amenity that provide enjoyment and requires responsible use. Pools are a leasing selling point and common area expense. Balancing practical use with enforcement of

pool rules are an on-going part of being in property management. About Multifamily Insight Multifamily Insight is dedicated to assisting current and future multifamily property owners, operators and investors in executing specific tasks that allow multifamily assets to operate at their

highest level of efficiency. We discuss real world issues in multifamily property management and acquisitions. This blog is intended to be informational only and does not provide legal, financial or accounting advice. Seek professional counsel. For more information, visit: http://www.MultifamilyInsight.com

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Doors/Woodwork

Locks Tenant(s) certify that the above pet(s) are the only pet(s) on the premises. Tenant(s) understands that the additional pet(s) are not permitted unless the landlord gives ten Ceilings ant(s) written permission. Tenant(s) agree to keep the above-listed pets in the premises subject to the following terms and conditions: Electrical Outlets

1) The pet(s) shall be on a leash or otherwise under tenant’sGarbage control Cans when it is outside the tenant’s dwelling unit. TV Antenna/Cable 2) Tenant(s) shall promptly pick up all pet waste from the premises promptly. 3) Tenant(s) are responsible for the conduct of their pet(s) Fireplace at all times. 4) Tenant(s) are liable for all damages caused by their pet(s). 5) Tenant(s) shall pay the additional security deposit listedCleanliness above and/or their rental agreement as a condition to keeping the pet(s) listed above. 6) Tenant(s) shall not allow their pets to cause any sort of disturbance or injury to the BEDROOM other tenants, guests, landlord or any other persons lawfully on the premises. 1 7) Tenant(s) shall immediately report to landlord any typeWalls of damage or injury caused by their pet. Windows 8) This agreement is incorporated into and shall become part of the rental agreement exe -cuted between the parties. Failure by tenant to comply with any part of this agreement Blinds/Drapes shall constitute a material breach of the rental agreement.

Disposal

Dishwasher

Counter Tops

Cabinets

Sink

Floor

Ceilings

BEDROOM 1

Electric Outlets

Walls

Windows

Phone

Windows

Blinds/Drapes

BEDROOM 2

Walls

Landlord

Windows

Blinds/Drapes

BATH ROOM Towel Bars

Method of Service:

Personal Service:

* Add one additional

Blinds/Drapes

Rods

Post and Mail:

Light Fixtures if served by post

Rods

Floor

day for compliance

Sink & Vanity

Floor

and mail.

BATH ROOM

Towel Bars

Sink & Vanity

Toilet

Tub/Shower

Fan (Exhaust)

Floor

Doors/Woodwork

Locks

Rods

______________________________ Floor Tenant ______________________________ Light Fixtures Tenant Doors/Woodwork

BEDROOM 2

Walls

Windows

Blinds/Drapes

Rods

Floor

Light Fixtures Doors/Woodwork Locks Ceilings Electric Outlets

Tub/Shower

may be reproduced without written

Ceilings

Electrical Outlets

Electric Outlets

Smoke Detectors

of this form may

Plumbing Heating

Hot Water

permission.

of this form may

be reproduced without

written permission.

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Electric Outlets Light Fixtures

Plumbing

Heating

Electricity

Hot Water

Smoke Detectors

Electricity

Smoke Detectors

Locks

Ceilings

Fan (Exhaust)

Floor

Electric Outlets

Light Fixtures

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Rental Housing Journal Metro · June 2016 _____________________________ Landlord

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Undetected leaks can threaten property values and repairs will be more costly. Avoid hit and miss digging. Save your property!

Light Fixtures

Doors/Woodwork

Toilet

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Is there a leak lurking around your property? High water bill? Hear water running? Be Safe! Find out!

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Rental Housing Journal Metro

Rental Housing Journal Metro Âˇ June 2016