Rental Housing Journal Metro June 2016

Page 1

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

A

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

S

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

Text REALESTATE-ROI to 44222 to receive a digital copy of this year's Real Estate Opportunities in Investing (ROI) Finding Investing Succes in Today's Housing Market


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