Metro Rental Housing Journal April 17

Rental Housing Journal Metro

April 2017

2. Rental Affordability is Worst in Minority Neighborhoods 4. Homes in Short Supply as Home Shopping Season Kicks Off 5. RHOA President’s Message

7. Essential Cleaning Tips and Techniques for the Spring 11. Mind Your Business – Tia’s Tips for Better Rental Management 12. Top Cities for Millennials 13. Are You Ready to Rent to Millennials?

www.rentalhousingjournal.com • Professional Publishing, Inc

14. Dear Maintenance Men: 15. Where Are the Nation's Young Homebuyers Now? Pittsburgh, DC and Des Moines 18. Ask Landlord Hank

Portland/Vancouver

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

How To Improve Your Tenant Selection and Screening

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By Landlord Hank

was very proudly showing my very first rental property, which had been extensively renovated, to a nicely groomed and mannered young woman.

She arrived for her tour, on time, in a newer vehicle, praising the property and saying she'd love to rent it.

I fancied myself as astute and a good judge of character so I thought I'd skip the tenant screening step. I had her fill out an application and pay the fee.

I told applicant I would let her know later in the day. As I thought more about not screening this tenant I decided to reconsider. I did screen her and found out she was in the process of eviction and hadn't paid rent in three months!

So do not learn the hard way. Here are some questions and answers to help.

Question: The landlord/investor has the property ready to rent-everything has been repaired and works properly, the unit is clean and looks great, inside and out. You have shown the property to a tenant proscontinued on page 9

Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007

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The World is Searching for Reliable Property Managers

irtually every month I meet or hear of a rental income property owner who wants to expand their portfolio. They’re searching throughout the 50 states for deals that make sense to them. Of course finding a lucrative “cap rate” is a challenge in today’s world. With interest rates still at historical lows, the return-on-investment (ROI) is also very low.

The “cap rate”, aka capitalization rate, is the rate of return on a real estate investment property based on the income that the property is expected to generate.

Are you aware of the cap rates nationwide?

Knowing what they are, especially in your state and the surrounding states in your region gives you a competitive advantage.

On your web page or social media page you’d be able to offer your insights.

Those insights based on up-to-date information and exceptional awareness continued on page 8

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Creating a Buzz to Attract Renters to Your Properties

By Mary Girsch

n the Chicago Tribune, the real estate section has a weekly feature that profiles an apartment community in their readership area, taking great care to describe the apartment in rich, picturesque detail. It’s one of my favorite parts of the newspaper; allowing me to experience a property that I may not typically visit.

While this may not be feasible for most apartment communities, there are ways to create a similar buzz about your own communities. These can range bolstering your social media profile to teaming up with area businesses that are willing to send applicants your way. While the strat-

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egies may vary, all can work to drive more quality applicants to your properties.

• Ramp up your social media strategy.

This can be anything from creating a Facebook profile if you don’t already have one, to posting more in-depth information such as photos and videos of your apartment community that can be easily viewed and shared. Virtual tours of your community may also be useful.

And don’t underestimate the value of Twitter, which can quickly get information out about your community and drive people back to your website for more information. Encourage your residents to share their positive experiences on social media as well.

• Create a professional website that is loaded with tools that will appeal to continued on page 9

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

Rental Housing Journal Metro

Rental Affordability is Worst in Minority Neighborhoods SEATTLE, PRNewswire

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enters in black and Hispanic communities spend a larger share of their income on rent than renters in predominantly white communities • The gap between the share of income needed to pay rent in minority neighborhoods and white neighborhoods has widened over the past five years.

• In housing markets with good prospects for social mobility, the rent burden in minority neighborhoods is especially high.

• Monthly mortgage payments would require a smaller share of income than rent, but high rent burdens make saving for a down payment difficult.

Monthly rent is a bigger financial burden for people living in predominantly

black or Hispanic neighborhoods than it is in white neighborhoods, according to a new Zillow analysisi of race and housing affordability.

Nationally, renters in predominantly black neighborhoods can expect to spend 43.7 percent of their income on rent, and renters in Hispanic communities can expect to spend 48.1 percent of their income on rent. In white neighborhoods, renters can expect to spend 30.7 percent of their income on rent, essentially in line with the standard rule of spending about 30 percent of income on housing.

In markets that offer the best opportunities for social mobilityii, paying the rent in minority communities is an even bigger financial burden, mainly due to significantly lower incomes in these communities. In San Francisco, for example, rent in predominantly black

neighborhoods requires nearly threequarters of the median income there. In largely Hispanic neighborhoods, renters can expect to spend 62.5 percent of their income on monthly rent.

When housing costs consume such a significant share of income, renters often have to make financial sacrifices, like putting off saving for a down payment, medical care and planning for retirementiii. Homeownership can be an important path to building wealth, but making the transition from renter to homeowner is a bigger financial challenge for renters living in mainly black or Hispanic areas.

"This research sheds light on another example of inequality in the housing market," said Zillow Chief Economist Dr. Svenja Gudell. "Renters in AfricanAmerican or Hispanic neighborhoods

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find themselves in a catch-22 situation - while owning a home is a great way to build wealth, you need to save up some cash to be able to buy. If you're spending close to half of your income on rent, saving up that down payment is going to be incredibly difficult."

Rent affordability across the nation has diminished since 2011, as housing costs have outpaced income. It has worsened more in minority areas than it has in predominantly white neighborhoods.

Over the past five years, the share of household income needed to pay monthly rent in black and Hispanic neighborhoods has increased by four percentage points and seven percentage points, respectively.

In white communities, the share of income needed to pay rent has increased by three percentage points.

For those who are able to save up for a down payment and buy a home, monthly mortgage payments are much more affordable than rents across racial communities. In black communities, mortgage payments required 13.6 percent of the median household income. In Hispanic communities, they require 22.8 percent of the median income, and in white communities, 15.2 percent. continued on page 10

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Rental Housing Journal Metro · April 2017

Rental Housing Journal Metro

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Rental Housing Journal Metro · April 2017

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Rental Housing Journal Metro

Homes in Short Supply as Home Shopping Season Kicks Off

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here are 3 percent fewer homes on the market than a year ago, with the median home value hitting its highest point since June 2007, according to Zillow's February Real Estate Market Reports U.S. home values rose 6.9 percent over the past year to a Zillow Home Value Index (ZHVI) of $195,700 in February.

Rents rose 1.2 percent over the past year to a Zillow Rent Index (ZRI) of $1,406 per month.

Inventory shortages will be a big concern for buyers going into home shopping season -- there are about 3 percent fewer homes for sale this year than last.

Minneapolis, Cincinnati and Detroit reported the greatest drop in homes for sale over the past year.

Mortgage rates on Zillow ended February at 3.89 percent, down from 4.01 percent at the start of the month.

Home values across the country are up 7 percent since last February, with 3 percent fewer homes to choose from than a year ago, making for another competitive home shopping season. The median U.S. home value is $195,700, according to the February Zillow® Real Estate Market Reportsi, the highest value since June 2007.

Tampa, Fla., Seattle, Dallas and

Orlando, Fla. reported the highest yearover-year home value appreciation among the 35 largest metros across the country, all growing in the double-digits.

In Tampa, home values rose almost 12 percent to a median home value of $182,100. Home values in both Seattle and Dallas are up 11 percent since last February. High buyer demand coupled with fewer homes for sale is driving home values higher in many of these markets -there are 5 percent fewer homes to choose from than a year ago in Tampa and 11 percent fewer in Orlando.

Across the country there are 3 percent fewer homes on the market than a year ago and many places with rapidly rising home values have inventory shortages in the double-digits. In Seattle, for example, home values are up 11 percent but the selection of homes down 10.5 percent.

Millennials will have a big impact on this year's home shopping season as they start aging into homeownership, especially in booming job markets that are attractive to young homebuyers.

"Low inventory, strong demand and tough competition will be the defining characteristics of this year's home shopping season," said Zillow Chief Economist Dr. Svenja Gudell. "Even though interest rates are rising, buyers are eager to start their home search. If you're a prospective buyer about to enter

the market, keep in mind that it's rare to get the first home you make an offer on, and homes in particularly hot markets frequently sell for over asking price.

Buyers should give themselves enough time to get their finances in order and find a real estate agent they know and

trust before jumping into the market."

National median rent across the nation is up 1.2 percent since last February, to a median payment of $1,406 per month.

Seattle, Portland and Sacramento, Calif. reported the highest year-over-year rent appreciation among the 35 largest U.S. continued on page 12

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Rental Housing Journal Metro · April 2017

President: Ron Garcia Vice President: Phil Owen President Elect: Mark Passannante Secretary: Lynne Whitney Treasurer: Sandra Landis

President’s Message

Ron Garcia, RHA Oregon President

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Past President: John Sage Office Manager: Cari Pierce

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

Okay Landlords – It’s Time to Listen Up!

pril is Fair Housing Month. This is the time for us, as owners of rental properties, to review, reflect, and re-commit to the idea that housing is for everyone, regardless of race, religion, or familial status.

This seems like a no-brainer, doesn’t it? This is something we should all just expect, shouldn’t we? After all, we all want to do the right thing, don’t we?

As a review, keep in mind: The federal, state and local laws are strict and unforgiving when it comes to restricting discrimination and granting protections to protected classes in order to create and maintain a safe and level basis for treating everyone equally and fairly.

It is not enough to “allow” someone to rent a property. If a rental housing provider is found guilty of behaving in a way or saying anything that infringes upon the Fair Housing rights of a protectedclass individual, the provider would be discriminatory by way of “disparate impact.” “Disparate impact” is when a facially neutral business or employer appears neutral, but is discriminatory in application or effect. According to the Oregon State Bar, the law “makes clear that housing discrimination is unlawful whether it is deliberate and intentional or has the effect – intentional or not – of having a greater or ‘disparate’ impact on people who are in a protected group.”

If I show a vacant unit to an individual

who walks with a cane, and I ask them to ‘watch their step’ as we navigate a walkway to the front door, I may have violated Fair Housing law. My awkward attempt at courtesy is no excuse for treating a handicapped individual any differently than I would anyone else.

Like the old adage claims, “the ends don’t justify the means”; discrimination occurs whether or not the affected party was granted the right to rent or negatively affected by the discriminatory action.

As we reflect on the notion that we have some control over what ‘type’ of people we rent to, we should consider that by its nature, this is a discriminating premise.

What their source of income is; how many are in the household; what type of animal(s) they represent as companions; what relationship they have to one another; if they have been convicted of crimes not related to a person or property; whether they have prevailed in a lawsuit with a prior landlord; or what reasonable accommodations we may need to offer in order to function in this dwelling are simply not matters on the table for housing providers to consider when reviewing or approving renters.

In Oregon, Fair Housing complaints are administered by the Bureau of Labor and Industry (BOLI) as part of their Civil Rights division. When a complaint is filed it is reviewed by a state investigator.

BOLI has said they do not use “judicial

Rental Housing Journal Metro · April 2017

prerogative” when reviewing complaints – meaning that they take each one as a viable concern without initially determining its validity.

After an investigation is completed on a complaint, it proceeds to an administrative hearing. “In cases of discrimination in housing… remedies may include the rental, lease, or sale of real property, the provision of services, out-of-pocket expenses or benefits lost because of the discriminatory practice and compensation for emotional distress.”

Once a complaint goes to court, the fines are rarely below $40,000, according to Chris Lynch, BOLI’s operations manager for this division.

In an article for The Oregonian, investigators for BOLI shared, “Other potential acts of discrimination may sound like common sense or neighborly suggestions. For instance… some landlords have tried to steer families away from second-story apartments with balconies. Landlords thought they were protecting children -- and potentially themselves from future liability lawsuits -- but those decisions have to be left to parents”.

These stories of discrimination can be frightening because of the consequences that may be levied on the property owners.

They require on-going discussions and the fact is, that to be faithful to Fair Housing policies, our continued vigilance

is essential.

Yet, as we re-commit ourselves to Fair Housing, perhaps it’s also helpful to reflect on our own history. My wife’s family immigrated to the U.S. when she was 8 years old, and she was the eldest of 7 siblings. Her family of 9 rented an upstairs 4 bedroom flat in San Francisco.

Whether it was or wasn’t under the threat of punishment or fines, or by written law or decree, or economically rewarding or not, years later, I can attest that I am very grateful this occurred. As her family found a new home in a new country, she remembers those days as happy times of her childhood. Today, after 33 years of marriage, I can’t imagine what my life would be without her in it, or how her life may have been affected if she had not been able to grow up in a safe home.

So, how do I process all of this in my role as a Property Manager? It is a “fair” question! When my clients – the property owners - ask me who has rented their property, I tell them “they qualified for our guidelines”. As long as they pay the rent on time, don’t damage the property or violate the rental agreement, they will happily remain our tenants. It is just that simple.

Ron Garcia Rental Housing Alliance Oregon President

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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

Form of the Month SATELLITE DISH INSTALLATION POLICY

OWNER/AGENT MAY PROHIBIT PLACEMENT ON:

DATE __________________________________________ PROPERTY NAME / NUMBER ___________________________________________________________________________________________________________________________________________________________________ ___ __ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ __ ___ __ ___ ___ ___ ___ ___ ___ ___ ___ __ ___ RESIDENT NAME(S) ___________________________________________________________________________

___________________________________________________________________________ ___ __ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ __

____________________________________________________________________________ __ ___ __ ___ ___ ___ ___ __

___________________________________________________________________________

___________________________________________________________________________ ___ __ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ __

___________________________________________________________________________ ___ __ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ __

UNIT NUMBER ___________________________________ STREET ADDRESS ___________________________________________________________________________________________________________________________________________________________________________ ___ __ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ __ ___ __ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ __

ROOFTOPS OOFTOPS

CITY ___________________________________________________________________________________________________________________________________________________ STATE T TA ZIP _____________________________________________________________ ___ __ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ __ STA ___________________________________ ___ __ ___ ___ ___ ___ ___ __ ___ __ __

1. These rules apply to the installation of direct broadcast cast satellite anten antennas s of one meter o or less in diameter, antennas of one meter or less in diameter or diagonal measurement designed video programming signed to rreceive ve vide gramming service via multipoint distribution service, or antennas designed to receive television broadcast (collectively st signals (c ectively called “satellite “satell dishes”).

WINDOW INDOW SILLS S LS

ellite dis s only to the ex 2. Resident is allowed to install individual satellite dishes extent and in locations allowed by local, state or federal law. de Resident’s unit it or on any porch, patio, deck, balcony or other area over which Resident 3. Satellite dishes may only be installed inside rms of his/her Rental ntal Agreem has exclusive use and control underr the terms Agreement. No resident may install a satellite dish on the exterior, uilding, or in the common a roof or restricted areas of any building, as of th areas the building or complex. No satellite dish may extend beyond a y satellite dish installed in all on the exterior, roof, or restricted areas of any building, or in balcony railings. Owner/Agent may remove any sident’s consent and Resident will wil pay all costs. the common areas, without Resident’s O BE AWARE E THAT A HIS/HER UNIT AT UN T MAY NOT BE IN A PROPER LOCATION TO RECEIVE SATELLITE 4. RESIDENT NEEDS TO ALS EV E/SHE INSTA T LLS A SATELLITE DISH. PRIOR TO INSTALLATION, RESIDENT SHOULD TA BROADCAST SIGNALS EVEN IF HE/SHE INSTALLS PUTA T BLE COMPANY TA OM CHECK WITH A QUALIFIED AN AND REPUTABLE TO DETERMINE IF HE/SHE IS ABLE TO RECEIVE ADEQUATE ER UNIT. T T. SIGNALS AT HIS/HER Owner/ r A ent in writing prior r/ p o to any installation. Such notice shall include a description ption of the location for the 5. Resident shall notify Owner/Agent stallation (attachment) method. satellite dish and the installation esident may drill holes s in walls 6. No resident walls, doors or window frames in order to install the satellite dish or run ca cable from the dish to the vision. television. nstallation may be perform d in a manner that causes permanent damage to the unit or the building. The he satellite dish must ust be rem 7. No installation performed removed e end of the tenancy and all damage, other than ordinary wear and tear, must be repaired a d If Resident fails to p at the or restored. properly dent all applicabl remove the sat satellite dish at tthe end of the tenancy, Owner/Agent is authorized to do so an and charge Resident applicable costs. ns must be p fety concer ld includ 8. All installations performed in such a manner as not to cause legitimate safety concerns. These would include, but not be ger of fall im to power lin limited to, danger falling, danger of permanent damage to the building or proximity lines.

SONS OR PROP ERTY CAUSED BY H 9. RESIDENT IS RESPONSIBLE FOR ANY INJURY OR DAMAGE TO PERSONS PROPERTY HIS/HER SATELLITE SURANCE FOR TH A AT DISH. RESIDENT MUST PURCHASE AND MAINTAIN LIABILITY INSURANCE THE USE OF A SAT SATELLITE DISH, WHICH SURED. R DENT S L PROVID INSURANCE MUST NAME OWNER/AGENT AS AN ADDITIONAL INSURED. RESIDENT SHALL PROVIDE OWNER/AGENT WITH PROOF OF INSURANCE UPON REQUEST. e with al pplicable stat 10. All installations must be performed in complete compliance all applicable statutes, rules and regulations, including any homeowner/condominium association rules and regulations that may app apply. If permits are required, Resident will obtain all such s prior to insta ion. Any fee permits and any homeowner/condominium association consents installation. fees charged by a homeowner/condominium association for its consent will be paid by Resident.

11. If Owner/Agent has installed and made available a central satell e dish for use by allll residents, then individual residents may not satellite install their own satellite dishes.

12. These rules are meant to comply with 47 CFR § 1.4000, as may be amended from time to time. All requirements of such section are Res ve more rights to install in hereby incorporated herein. In no event shall Resident have or maintain satellite dishes under this Installation Policy than are allowed under 47 CFR § 1.4000. In the event any portion portio of o this Installation Policy is held to conflict with applicable cken and all other portions p ons of this th Installation Policy will remain in full force and effect. law, those portions shall be deemed stricken

Form M033 OR-WA Copyright © 2014 Multifamily NW®. NOT TO BE REPRODUCED WITHOUT WRITTEN PERMISSION. Revised 12/4/2014.

Spring Apartment Report Breakfast - SOLD OUT New Hire Class Reasonable Accommodations CAMT: Plumbing Part II CAM: Risk Management Landlord Tenant Law Part I Landlord Study Hall: Avoiding Common Landlord Mistakes CAMT: Electrical Part I HR Issues: Using Salary Surveys Vivienda Justa 101 – Fair Housing en Español It's the Law: Time to Part Ways: Terminating the Tenancy Landlord Tenant Law Part II Fair Housing for Leasing CAM: Legal Responsibilities Maintenance Tips, Tricks & Pitfalls ACE Awards Ceremony EPA Lead-Based Paint Renovation Certification 8-Hour CAMT: Electrical Part II

Form M033 OR-WA Copyright © 2014 Multifamily NW®. NOT TO BE REPRODUCED WITHOUT WRITTEN PERMISSION. Revised 12/4/2014.

Upcoming Calendar 4/18/2017 4/19/2017 4/20/2017 4/25/2017 4/26/2017 5/1/2017 5/3/2017 5/9/2017 5/10/2017 5/10/2017 5/12/2017 5/15/2017 5/16/2017 5/17/2017 5/17/2017 5/18/2017 5/22/2017 5/23/2017

OUTSIDE WALLS

COMMON-USE BALCONIES OR STAIRWELLS CO

OWNER/AGENT MAY NOT UNREASONABLY PROHIBIT OW WN BIT PLACEMENT ON: N BALCONIES, PATIOS, OR GARDENS TOTALLY WITHIN THE EXCLUSIVE USE OF THE RESIDENT

e waived by Owner/Agent Owner/ r Agen or changed verbally. Any such waiver or change will be effective r/ 13. No portion of this Installation Policy may be only when in writing, signed d by Owner/Agent.

Owne t.

X

SAMPLE

_____________________________________________________________________________________ ___ __ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ __

SAMPLE

_ __ _____________________________ ___ __ __ ___ __ ___ ___ ___ ___ __

RESIDENT

X

SAMPLE

X

RESIDENT

SAMPLE

_ __ _____________________________ __ __

RESIDENT

X

RESIDENT

SAMPLE

SAMPLE

SAMPLE RESIDENT

X

SAMPLE

MAIN OFFICE (IF REQUIRED)

_____________________________

SAMPLE

_____________________________

DATE

_____________________________________________________________________________________

OWNER/AGENT

SAMPLE DATE

SAMPLE

_____________________________________________________________________________________

DATE

SAMPLE

ON SITE

SAMPLE

_____________________________________________________________________________________

DATE D E

_____________________________________________________________________________________ ___ __ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ __

NOTE: NO HOLES MAY A BE DRILLED IN OUTSIDE AY OUTSID WALLS, ROOF, OR WINDOWS. A BE DRILLED IN A BALCONY AY BALC NO HOLES MAY RAILING. NO PART OF THE CAN EXTEND BEYOND THE BALCONY RAILING LINE. E DISH OR ANTENNA NTEN

SAMPLE

_____________________________

DATE

PAGE 1 OF 2

ON SITE

RESIDENT

MAIN OFFICE (IF REQUIRED)

SATELLITE DISH

=

PAGE 2 OF 2

Satellite Dish Installation Policy M033 OR-WA This popular move-in form details the legal restrictions for the use and placement of satellite dishes in apartments. Installation parameters are strict to avoid damage to the building and mandate management’s prior approval. Typically installation is only allowed in areas such as a porch, patio, deck or balcony.

Text REALESTATE-ROI to 44222 to receive a digital copy of this year's

Real Estate Opportunities in Investing (ROI) Finding Investing Success in Today's Housing Market 6

Rental Housing Journal Metro · April 2017

Rental Housing Journal Metro

Essential Cleaning Tips and Techniques for the Spring

By Lance Allen, Merchant-Cleaning, The Home Depot hether it is touching up the exterior paint or switching out the air filters, the Spring season is the perfect opportunity to conduct a thorough sweep of each home to impress potential renters and keep your current residents satisfied for the rest of the year.

The following cleaning essentials and latest products will help your maintenance teams clean more efficiently ahead of the busy turnover season.

W

damage during apartment turnover to prevent mold growth. In addition to obvious signs like buckling floors and chipping paint, water detection devices can identify high moisture levels and unseen leaks before they get out of hand.

Allergen Prevention Approximately 50 million Americans suffer from outdoor allergies, according to the Asthma and Allergy Foundation of America. As spring pollen counts increase across the country, one of the most important steps to help prevent symptoms is replacing air filters. Filters should be replaced every one to three months to minimize dust and pollen buildup.

As temperatures and humidity grow warmer with the season, moist surface areas such as the bathroom and kitchen are more prone for mold buildup. In particular, caulked areas around the tub or sink are common spots for dirt and mildew. Inspect these areas for signs of water

Restore the Outdoors As winter winds down, walk the property and see if there is any leftover damage from harsh weather. Common problem areas include roofs, irrigation systems and landscaping. For large cleanup jobs, equip teams with trash bags that are not only large, but also reusable. Demobags are 42-gallon, tear-resistant bags made of a tarp-like material that can handle up to 110 pounds of debris and trash. Maintenance teams can reuse them up to 5 times, making cleanup much quicker.

Also, look for opportunities to touch up and increase curb appeal. Make sure all grills and patio furniture are in tip-top shop shape, and look into multi-purpose cleaners that are heavy-duty like ZEP Citrus Degreaser to help remove any grime and dirt. When choosing cleaning chemicals, look for large sizes of concentrated product rather than single bottles. For example, a gallon-sized version of concentrated glass cleaner will deliver the

Rental Housing Journal Metro ¡ April 2017

equivalent of 128 bottles. Not only will this save hundreds of dollars, but maintenance teams will also make less frequent trips to the store.

Essential Tools for the Job During this busy season of heavy turnover, having the right tools can enable maintenance teams to operate efficiently.

While cleaning supplies may not seem like a market rife with innovation, products like the Rubbermaid Maximizer Looped-End Mop feature new technology to help teams move faster. The mop provides 30 percent more coverage and weighs 25 percent less than standard mops. Or, consider the Quickie Jobsite Push Broom for heavy duty jobs like construction debris, sidewalks and garages.

The water-resistant fiberglass handle will help your teams finish projects quickly and comfortably.

Today, eco-friendly products are a good alternative to get the job done without any chemical smell or effects. The Home Depot has a wide variety of products, including non-toxic options like Simple Green and Tub O’ Towels, which are non-abrasive and have formulas that are environmentally safe.

A clean property will help your residents take full advantage of the property as the weather warms up. No matter how big or small a task may be; you want to ensure your residents have a clean environment.

By Lance Allen, Merchant-Cleaning, The Home Depot Lance joined The Home Depot in 2014 in product development and is currently the national Cleaning Merchant. With ample experience and background working with tools, hardware and paint, Lance has the knowledge to help the consumer and PRO meet all their product needs.

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Rental Housing Journal Metro

Searching, Reliable Managers ...continued from front page will attract prospective clients who are looking for reliable, competent property managers to do business with. Are you one?

In other words, are you more informed and more savvy then other property managers? For example, do you know what ROI is all about? Are you conversant on these important terms of business effectiveness?

The ROI is, generally speaking, a performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of similar investments. It’s a very important moving target.

To measure the amount of return an investor will receive relative to the cost of that investment, minus management and other overhead expenses, will give prospective clients a “realistic” ROI. It’s also a valuable talking point that can help you communicate professionally with existing clients as well.

Candidly, if you’re an honest, reliable property manager, there are hundreds, even thousand of “other managers’ clients” who need you and are most likely looking for someone like you this very moment! How are these distressed and discouraged residential single or multifamily rental property owners going to find you? How can prospective clients know you exist and know your core competencies?

If they’re not fortunate enough to be

referred to you, then they need a media that will help them to discover you. An ad, an email, a banner, a great website that clearly and professionally says, “If you own rental property and you want dependable, outstanding service we’re here for you!” is imperative.

Before you begin your ad campaign or employ whatever medium is most affordable for you, be absolutely certain you can live up to the hype. Can you “under promise and over deliver”? Most landlords and residential rental property owners have an easier time finding a mortgage, a refinance, or more potential rentals to buy than finding a property manager who keeps their word.

If you’re a reliable, diligent, wellinformed and very competent as a property manager, then you may be that sought-after exception. Again I ask, “Have you found an effective way to tell the world about you?” Make sure you ask your existing clients if they’ll give testimonials, referrals and recommendations. Have some of them on your impressive website. You do have an impressive website? Your reputation is your most important asset when it comes to the property management business.

Insure that yours is the very best possible, and then spread the word! The world is looking for you now.

by Marc Courtenay http://www.propertymanager.com/

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: The City of Portland Multifamily Waste Reduction Program can help.

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 Email: multifamily@portlandoregon.gov

www.portlandoregon.gov/bps/multifamily

8

Rental Housing Journal Metro · April 2017

Rental Housing Journal Metro

Improve Your Tenant Screening ...continued from front page pect that seems to fit your criteria and can move in quickly. So what is the next step?

Answer: This step is CRITICAL and if this step is not handled properly, the landlord will know first-hand why the landlord role is not for everyone.

Tenant screening begins with your personal assessment of the prospective tenant and prospect’s family.

• Are prospects clean and well groomed?

• Are kids bouncing off the walls, etc?

• Is the car they drove up in falling apart and filthy? Or nice?

• Would you want to live next to these people?

The application is the key that unlocks the real truth to how this prospect conducts life and relationships.

Submitted with the application are driver’s license copy or photo ID so you know the people you are checking out are the people that are applying for your apartment, and not a brother or a friend of the real applicant using someone else's information, social security number, etc.

You also want verification of income.

Preferably you want the last two years tax returns, or bank statements for last three months and pay stubs from work.

The application will request the following: • Biographical information, name, current and previous addresses • Contact information – not just the tenant but others such as relatives and emergency contacts • Social security number • Date of birth • Work history • Signed authorization for you to run credit and background checks Your application fee should pay for this

screening process. There are screening companies that will handle this process and send you a summary. Or, you can set up with a company to run credit and background checks and you as landlord can check work and residential history by calling references.

All adults must be screened and on the lease.

Calling the previous landlord So if you decide that you, as the landlord, will verify residential/employment history, here is what you do next: Your first phone call should be to the current landlord. If it starts with someone answering the phone “Hello,” then questions immediately arise in your mind as to who is answering this phone as it does not sound like a professional landlord. Is it really a landlord or owner of a rental property and this is their only rental? Or, is this the applicant’s best friend or relative?

When this has happened to me, I tell them my name and say the applicant is using them as a reference and how does this person know that applicant?

I don't tell them applicant is looking to rent from me, etc.

Sometimes I hear that the applicant is this "landlord’s" (again, is it really a landlord?) relative or friend and they are staying with them or other times the person answering the phone says that applicant used to, or still does, rent from them.

What to ask when you get on the phone with previous landlord At this point, I ask if they would be willing to answer some questions concerning the applicant. Sometimes I must send the prospective tenant’s signed application which contains authorization for release of information.

The questions I want answered are:

• Rent amount paid to this landlord • Term of occupancy • Payment history • Notice of termination of lease given (usually 30-60 days) • Any damage to property • Any unauthorized guests or pets • Eligibility for renting to this person again • Anything else this landlord thinks I should know?

Now what do you do as a landlord?

You have the information you want but can you trust that information?

In this situation, I've immediately called the tenant and asked for clarification of this rental situation and asked: • Is this landlord a family member or friend?

• Please send me a copy of your lease to this property now. Can the prospect come up with a lease?

Then I move on to next residential history to see if this one be verified or not?

If not, then I don't feel comfortable renting to this applicant and they are rejected and we move on.

You must feel comfortable with the new tenants. You must be satisfied that they make enough money to pay the rent AND have enough left to live on. Also that their history shows they will take care of your property, pay rent and not disturb others.

Their credit history demonstrates that they pay their responsibilities, and that they aren't a violent criminal. This is the most important step in the entire process of renting your property.

Do this like it is important because the tenant relationship governs, for the most

part, your landlording experience for the next year.

If you rent to a reasonable, responsible tenant and you are a good landlord, this experience should be very rewarding.

How long should screening process take?

Usually about 24- to 48 hours depending upon responsiveness of tenants references.

Keep up communication with prospective tenants Let tenants know your progress so they know you are working on getting them clearance and what or who is the hold up.

Perhaps the prospective tenant provided an incorrect or old email address or phone number, etc.

Don't learn the hard way!

Find a tenant you are comfortable with after you have reviewed their background and credit history, or keep looking. Never settle for someone you don’t feel good about just to get the rent coming in. If you settle, the first months’ rent may be all you receive! One final thought, do not let a prospective tenants rush to move in change the vetting protocol. If tenants can’t wait for normal procedures to transpire, that is normally a bad sign (like sheriff is at the door with eviction crew, etc).

About the author: “I started in real estate as a child watching my father take care of our family rentals- maintenance, tenant relations, etc , in small town Ohio. As I grew, I was occasionally Dad’s assistant. In the mid-90s I decided to get into the rental business on my own, as a sideline. In 2001, I retired from my profession and only managed my own investments, for the next 10 years.

Creating a Buzz ...continued from front page those looking for a new rental home.

This includes easy navigational tools, online photos and property tours and access to an online application option as well. If you already have a quality website, make sure that it is updated constantly, with fresh photos and new information.

• Get to know your neighbors. Teaming up with area businesses can serve to drive a large number of applicants to your properties. Consider giving any referred applicant an incentive, such as a 5% rent discount, reduced security deposit or other incentive such as a gift card.

• Encourage your current tenants to refer friends, family, and colleagues, and reward them with a gift card once a re-

Publisher Will Johnson – will@propubinc.com Designer/Editor Kristin Flores – kristin@propubinc.com

ferral signs a lease.

• Take full advantage of free sites that will allow you to post rental information about your communities. Like your social media strategy, you’ll want to include photos and virtual tours of your properties that will entice readers to search out your property for more information.

While attracting quality tenants can often seem difficult, employing these strategies can provide you with a pool of applicants that will have your community leased up in no time. www.propertymanager.com

Advertising Sales Will Johnson – will@propubinc.com Terry Hokenson – terry@propubinc.com Larry Surratt – larry@propubinc.com

Rental Housing Journal Metro is a monthly publication published by Professional Publishing Inc., publishers of Real Estate Opportunities in Investing & Real Estate Investor Quarterly

www.rentalhousingjournal.com The statements and representations made in advertising and news articles contained in this publication are those of the advertiser and authors and as such do not necessarily reflect the views or opinions of Professional Publishing, Inc. The inclusion of advertising in this publications does not, in any way, comport an endorsement of or support for the products or services offered. To request a reprint or reprint rights contact Professional Publishing Inc. PO Box 6244 Beaverton, OR 97007. (503) 221-1260 - (800) 398-6751 © 2015 All rights reserved.

Rental Housing Journal Metro · April 2017

9

Rental Housing Journal Metro

Minority Neighborhoods ...continued from page 2 Metropolitan Area

Share of Income Needed to Pay Rent in White Communities, 2016

Share of Income Needed to Pay Rent in Black Communities, 2016

Share of Income Needed to Pay Rent in Hispanic Communities, 2016

United States

30.7%

43.7%

48.1%

New York/Northern New Jersey

37.8%

57.5%

67.5%

Los Angeles-Long Beach-Anaheim, CA

50.0%

63.7%

63.0%

Chicago, IL

29.6%

51.6%

42.4%

Dallas-Fort Worth, TX

30.4%

41.1%

39.8%

Philadelphia, PA

29.3%

47.2%

54.4%

Houston, TX

30.3%

42.9%

41.8%

Washington, DC

26.1%

40.0%

36.3%

Miami-Fort Lauderdale, FL

41.7%

58.2%

55.1%

Atlanta, GA

26.8%

32.2%

39.9%

Boston, MA

34.8%

71.2%

59.5%

San Francisco, CA

48.8%

74.8%

62.5%

Detroit, MI

27.9%

37.1%

34.5%

Riverside, CA

36.1%

N/A

42.7%

Phoenix, AZ

29.1%

N/A

39.6%

Seattle, WA

34.8%

N/A

N/A

Minneapolis-St Paul, MN

27.8%

59.8%

N/A

San Diego, CA

45.1%

N/A

57.6%

St. Louis, MO

24.8%

36.2%

N/A

Tampa, FL

35.0%

54.0%

43.3%

Baltimore, MD

27.5%

43.1%

N/A

Denver, CO

35.2%

N/A

50.1%

Pittsburgh, PA

26.7%

47.0%

N/A

Portland, OR

37.1%

N/A

N/A

Charlotte, NC

27.7%

36.2%

38.8%

Sacramento, CA

33.4%

N/A

45.7%

San Antonio, TX

29.4%

N/A

35.0%

Orlando, FL

32.7%

42.8%

38.2%

Cincinnati, OH

27.1%

51.4%

N/A

Cleveland, OH

28.2%

44.1%

N/A

Kansas City, MO

25.4%

34.0%

32.5%

Las Vegas, NV

27.5%

37.0%

34.3%

Columbus, OH

28.4%

35.6%

N/A

Indianapolis, IN

25.2%

35.9%

N/A

San Jose, CA

43.6%

N/A

60.4%

Austin, TX

32.0%

N/A

43.8%

Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow's Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z and ZG), and headquartered in Seattle.

Zillow is a registered trademark of Zillow, Inc. i To estimate the percent of income spent on monthly rent and mortgage payments by racial communities, we categorized census tracts by their racial pluralities. Once census tracts were categorized, we used census tract-level median household income from the U.S. Census Bureau alongside the Zillow Home Value Index (ZHVI) and Zillow Rent Index (ZRI) to calculate rent and mortgage burdens in census tracts. We then aggregated census tracts up to the metropolitan area and national level, requiring that the racial community make up at least 1% of the population in the metro.

SOURCE Zillow

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A activation fee may be required if requesting PORTLAND TV without STREAM INTERNET

10

Rental Housing Journal Metro · April 2017

Rental Housing Journal Metro

Mind Your Business – Tia’s Tips for Better Rental Management Think you know what you need to know about landlord-tenant law?

Here are 20 questions that will give you the answer.

By Tia Politi, ROA President 1. Using language, written or verbal, that causes a tenant or applicant in a protected class to fear discriminatory treatment is called: a. Cooling effect b. Steering c. Chilling effect d. Butterfly effect 2. If a landlord accepts a screening fee, they must: a. Provide written screening criteria to each applicant. b. Provide a receipt for the fee.

4. If a landlord has accepted a security deposit to execute a rental agreement and has a signed Deposit to Hold (DTH) contract with the applicant, and they decide not to move in: a. They must refund the DTH in full within 48 hours. b. They may retain the DTH in full. c. They may only retain the amount necessary to pay for your actual damages related to their failure to complete the contract and return the remainder within 31 days. d. None of the above.

5. Upon initiating a tenancy, a landlord may charge the following fees:

c. Return the fee if another applicant is chosen.

a. A cleaning fee

d. All of the above

c. A carpet fee

e. None of the above.

3. The HUD Memo regarding criminal history allows a landlord to continue to deny any applicant for any criminal history, regardless of circumstance.

b. A pet fee d. All of the above e. None of the above 6. If a tenant wants a pet, a landlord may: a. Charge a pet fee.

a. True

b. Limit the size or breed of pet.

b. False

c. Charge a non-refundable pet deposit.

d. All of the above.

petrator.

e. None of the above.

a. True

7. If an applicant or tenant requests an aid animal for a disability, a landlord may require that, a. The request be in writing b. There be only one assistance animal per resident c. Both a and b d. Neither a nor b 8. Landlords can charge an additional deposit for an assistance animal. a. True b. False 9. A landlord may require tenants to obtain renters’ insurance naming them as an Interested Party and requiring a minimum of $100,000 of liability coverage under the following circumstances: a. It is stated as a requirement in the application and rental agreement and disclosed prior to accepting any payments. b. Household income is above 50% of the median income for the area in which the rental property is located based on household size. c. There are no restrictions on how or when a landlord may require their tenants to obtain renters’ insurance. d. It is against landlord-tenant law to require renters’ insurance. e. Both A & B 10. If a tenant provides a landlord with a third-party verification that they have been a victim of domestic violence, sexual assault or stalking and asks that their door locks be changed, a landlord must do so promptly and may not charge them for the service. a. True b. False 11. A victim of domestic violence may be charged for damage caused by a per-

b. False 12. A victim of domestic violence, sexual assault or stalking (DV) has the right to: a. Release themselves and any immediate family members from a rental agreement with only 14 days’ written notice. b. Ask that the perpetrator’s tenancy be terminated. c. Continue the tenancy, even if there have been noise complaints or damage to the property related to the act(s) of domestic violence, sexual assault or stalking. d. None of the above. e. All of the above.

13. In a month-to-month or fixed-term tenancy, if rent is not paid by 11:59 p.m. on the 4th day of the rental period, a landlord should serve: a. A 144-hour Notice to Pay or Vacate for Nonpayment of Rent. b. A 72-hour Notice to Pay or Vacate for Nonpayment of Rent. c. A Notice of Termination with Cause d. None of the above 14. To have the right to post-and-mail a legal notice to a tenant, a landlord must: a. Have the right stated in writing in the rental agreement. b. List a physical address located a reasonable distance from the dwelling unit for the tenant to be allowed to post-and-mail notices to their landlord. c. Add three days for mailing. d. Both a & b. e. Both b & c f. Both a & b g. None of the above h. All of the above continued on page 16

Rental Housing Journal Metro · April 2017

11

Rental Housing Journal Metro

Homes in Short Supply ...continued from page 4 housing markets. Rents in Seattle are up 7 percent to a Zillow Rent Indexii (ZRI) of $2,100. Rents in both Portland and Sacramento are up 5 percent.

Minneapolis, Cincinnati and Detroit reported the greatest drop in inventory since last February. In Minneapolis, there are 18 percent fewer homes on the market than a year ago, and 15 percent fewer in Cincinnati.

In February, mortgage ratesiii on Zillow ended at 3.89 percent, down from a high of 4.01 percent at the start of the month. The month low was 3.86 percentiv. Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site and reflect the most recent changes in the market.

Purchase mortgage requests on Zillow are up 7 percent compared to this time last year, indicating that borrowers are moving forward with plans to buy a home amidst rising interest rates. On the other hand, the refinance market is more rate-sensitive, and refinance requests on Zillow are down 69 percent compared to this time last year.

Metropolitan Area

Zillow Home Value Index (ZHVI)

Yearover-Year ZHVI Change

Zillow Rent Index (ZRI)

Yearover-Year ZRI Change

Year-over-Year Inventory Change

United States

$195,700

6.9%

$1,406

1.2%

-2.6%

New York/Northern New Jersey

$407,600

7.0%

$2,391

-0.7%

-7.0%

Los Angeles-Long Beach-Anaheim, CA

$599,400

6.4%

$2,642

4.8%

-1.8%

Chicago, IL

$207,500

6.4%

$1,619

-1.5%

-7.5%

Dallas-Fort Worth, TX

$203,400

11.1%

$1,565

3.4%

4.1%

Philadelphia, PA

$215,400

4.6%

$1,568

0.4%

-7.3%

Houston, TX

$175,200

4.5%

$1,547

-2.2%

3.1%

Washington, DC

$382,400

3.9%

$2,114

-0.1%

-8.5%

Miami-Fort Lauderdale, FL

$248,600

8.9%

$1,854

0.2%

16.2%

Atlanta, GA

$175,200

7.6%

$1,335

3.7%

2.8%

Boston, MA

$416,100

6.4%

$2,342

4.0%

-11.8%

San Francisco, CA

$839,600

4.5%

$3,354

0.1%

6.4%

Detroit, MI

$137,500

10.0%

$1,175

2.3%

-14.4%

Riverside, CA

$321,400

6.7%

$1,754

2.9%

-10.5%

Phoenix, AZ

$231,700

6.3%

$1,309

3.3%

6.2%

Seattle, WA

$420,200

11.2%

$2,100

7.2%

-10.5%

Minneapolis-St Paul, MN

$239,700

7.1%

$1,566

3.8%

-18.0%

San Diego, CA

$529,200

5.4%

$2,452

4.3%

-4.4%

St. Louis, MO

$149,900

7.1%

$1,132

0.3%

-8.0%

Tampa, FL

$182,100

11.6%

$1,347

2.9%

-5.4%

Baltimore, MD

$259,000

4.2%

$1,720

-0.2%

-12.1%

Denver, CO

$359,100

9.3%

$1,998

1.4%

12.1%

Pittsburgh, PA

$135,600

5.3%

$1,068

-3.8%

-4.0%

Portland, OR

$358,700

9.2%

$1,804

5.4%

10.1%

Charlotte, NC

$169,500

7.0%

$1,248

1.5%

-7.5%

Sacramento, CA

$357,700

7.7%

$1,709

5.2%

-4.4%

San Antonio, TX

$158,100

6.0%

$1,323

1.6%

16.4%

Orlando, FL

$201,900

10.4%

$1,396

3.4%

-10.6%

Cincinnati, OH

$150,500

6.4%

$1,254

2.2%

-14.9%

Cleveland, OH

$132,100

4.9%

$1,141

1.2%

-2.1%

Kansas City, MO

$154,600

5.5%

$1,251

2.2%

-10.4%

Las Vegas, NV

$217,800

10.1%

$1,247

2.0%

23.3%

Columbus, OH

$161,000

4.5%

$1,293

1.3%

-13.0%

Indianapolis, IN

$137,100

5.3%

$1,184

-0.2%

-10.3%

San Jose, CA

$979,400

3.9%

$3,449

-0.7%

-0.9%

Austin, TX

$264,800

7.0%

$1,694

0.0%

24.0%

Top Cities for Millennials

by Realtor.com® Salt Lake City, Miami and Orlando rank number. 1-3 In rank order, realtor.com®'s Top Cities for Millennials include: Salt Lake City, Miami, Orlando, Fla., Seattle, Houston, Los Angeles, Buffalo, Albany, San Francisco, and San Jose, Calif.

"High job growth in markets such as Orlando, Seattle, and Miami, and the power of affordability in places like Albany and Buffalo are making these markets magnets for millennials." said Javier Vivas, manager of economic research for realtor.com®. "But what really stands out is that all these markets already have large numbers of millennials, which translates

into strong populations of millennial home buyers."

The average share of the 25-34 year old population in the U.S. is 13 percent, but in these top markets, the average share is 14 percent. Salt Lake City, No. 1 on the list, happens to also have the highest share of milllennials, comprising 15.8 percent of its total population. Seattle is close behind with a millennial population at 15.2 percent, Los Angeles and San Francisco tie for third with 15.0 percent.

Economic growth and relative affordability make these markets really attractive to first-time home buyers. Salt Lake City has the lowest unemployment rate of all the markets on the list at 2.9 percent, which is well below the national

unemployment rate of 4.7 percent. The job market is also a factor in San Francisco and San Jose, with the unemployment rate at 3.7 percent. When it comes to affordability, Buffalo is No. 1 with the most affordable home prices relative to salary, at 22.7 percent. It's followed by Albany where people only use 27.3 percent of their income on a home and Salt Lake City where buyers use 30 percent.

Realtor.com® analyzed the 60 largest markets in the U.S. and compared the share of millennial page views in each area to the national average. Markets were ranked based on their comparison to the national average. Page view data included in this analysis covers the period from August 2016 to February 2017.

NAME ADDRESS CITY

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I am an: OWNER

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*Print subscriptions $25/year $15 each additional market

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$8 each additional market

PRINT

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

Rank 1.

2.

3.

4.

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Market* Salt Lake City Miami Orlando Seattle Houston Los Angeles Buffalo Albany San Francisco San Jose

Millennial Page Views (Market vs.

Nation) 1.203X 1.187X 1.174X 1.172X 1.171X 1.170X 1.158X 1.155X 1.139X 1.137X

SANTA CLARA, Calif., March 22, 2017 /PRNewswire/ -- Realtor.com®, a leading online real estate destination operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS, NWSLV] subsidiary Move, Inc., today announced realtor.com®'s Top Cities for Millennials. Led by Salt Lake City, the list includes some of the usual millennial hot spots – Seattle and Los Angeles – along with a few surprises such as Buffalo, N.Y. and Albany, N.Y.

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Rental Housing Journal Metro · April 2017

Rental Housing Journal Metro

Are You Ready to Rent to Millennials?

T

By Mary Girsch-Bock here are 75 million of them; people born between 1980 and 2000. That’s roughly 25% of the U.S. population.

Millennials, like all of us are looking for a great place that is safe, convenient, and affordable.

But millennials have their own set of desires, and even requirements when looking for a new apartment home. And they have their own way of locating those apartments.

• The question is: are you ready to market and lease to this largest segment of the population? Here are a few tips for reaching and renting to millennials: • Make sure your rental ads are where millennials can find them. This includes the ability to access ads, including photos and floor plans from the Internet or on a mobile phone.

• Make sure you’re proactive on any public ratings issues that may appear. Millennials, more than any other group rely on the opinion of others. If there are issues, make sure you respond to them promptly, and note that response where it can be viewed by potential renters.

• Ramp up your social media presence.

Don’t underestimate the value that millennials place on a solid social media presence, such as an active Facebook page, Twitter account, and Instagram account.

• Speaking of Facebook, be sure to create a Facebook page for your properties if you don’t already have one; and more importantly, keep posts fresh and timely. Facebook remains a popular forum

Rental Housing Journal Metro · April 2017

for millennials, where they can easily access additional information and even download an application.

• Make sure you list amenities such as free Wi-Fi, Leed-certified appliances, in-unit washers and dryers, electric car charging stations, bike racks and bike storage. Being pet-friendly doesn’t hurt either.

• If your properties are convenient to

public transportation, be sure to mention that in your ads. Millennials are much more likely to use public transportation than their older counterpart and will see this as a definite plus.

• Fitness centers and coffee shops also top the list of amenities that millennials want. While space can be an issue for fitness centers, as an option, you can offer a discount to area gyms if desired. And millennials aren’t the only ones that would like an onsite coffee shop. Offering coffee and quick snacks would appeal to just about any demographic.

While marketing to millennials can seem tricky, in the end, millennials, like generations before them, simply want a place that they can call their own. www.propertymanager.com

13

Rental Housing Journal Metro

DEAR MAINTENANCE MEN: Painter's Caulk, Redwood and Cigarette Smoke

By Jerry L’Ecuyer & Frank Alvarez Dear Maintenance Men: I have just finished rehabbing a rental unit. I replaced counter tops, cabinets, baseboards and so on. Even though the unit is freshly painted with new carpets, the unit still looks unfinished. The base boards don’t always follow the wall contours exactly and the cabinets also have small gaps where they meet the wall. What can I do to make my work look professional?

Julia Dear Julia: We are going to let you in on a “professional” secret and it is called painter’s caulk! Painter’s caulk typically comes in a tube and is applied with a caulking gun.

Run a small bead of caulk along the baseboard and with your finger push the caulk between the wall and the gap you are trying to fill. Using a damp sponge or rag, wipe up any excess caulk. Painter’s caulk can be used to hide a multitude of installation sins. Almost anywhere two dissimilar materials meet; painter’s caulk can help hide the transition. Painter’s caulk is not limited to just baseboard, use it to make cabinets and door trim look custom installed. Fill nail holes without making a big flat spot on your wall. If you have ever tried to mate two pieces of trim or coving at a 45 degree angle and your cuts are not quite square, use painter’s caulk and no one will know. All gaps will magically disappear.

Dear Maintenance Men: My building has redwood fencing and patio decks. Both the fencing and decks are in good condition, however the “red” in the wood has faded with exposure to the weather. The wood looks grey now. How can I bring back the redwood look back without buying new wood?

Josh Dear Josh: A Redwood deck or fence may be young and fit, but they do tend to grey prematurely. Luckily, the solution is not too hard. There is a chemical called oxalic acid which will help give the wood its youth and vitality back again. Most hardware stores will stock a product called cedar and redwood cleaner/brightener. It may be under the brand name of “Olympic Cedar and Redwood Deck Brightener” Be sure your deck or fence is clean before treatment by using a TSP and water solution. (TSP is a heavy duty powder

cleaning solution available at any hardware store or supermarket.) After cleaning, be sure to read the deck brightener product’s instructions before use. For safety and wear gloves and goggles. Mix the product’s solution with water into a pump up sprayer. Wet the deck or fence with the solution and using a nylon brush or broom, scrub the wood evenly, working harder on stained areas. Let the solution stand for about thirty minutes and rinse off with a strong stream of water. Let dry and the wood should look brighter. It might not look brand new, but it will look much better.

Dear Maintenance Men: My current vacancy was long occupied by a heavy smoker. Every surface is sticky with brown nicotine and the smell of smoke is overwhelming. How do I get rid of the smell and keep it from coming back?

George Dear George: Cigarette smell is very hard to remove even after painting and cleaning the carpets. Chances are if the resident was long term, the carpets, drapes or blinds will need to be replaced. Remove the carpets, pad and tack strips. The tack strips are wood and can absorb and release the smell of smoke, urine etc. Thoroughly clean the floors with soapy water mixed with bleach. After cleaning the floors, it is not a bad idea to paint or use a primer to coat the flooring. One of the best ways to remove the nicotine residue from the walls is using old-fashioned elbow grease!

Again, wash the walls with soapy water using a brush or rag. Adding TSP (a powdered cleaning solution available at most hardware stores) or using a degrease agent will help in the cleaning. If you have flat ceilings, wash them too. If you have

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“acoustical” or “pop-corn” type ceiling, that’s a problem. By its nature, acoustical ceiling material cannot be cleaned.

Encapsulating the acoustical ceiling with spray paint may solve the problem. You will need a primer coat and a minimum of two coats of paint. If the smell is still present, give it another coat of paint and let the unit air as much as possible. Don’t forget to wash the windows and window frames. You will be amazed at how clean the aluminum or vinyl windows will look after a good cleaning.

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

For an appointment please call Buffalo Maintenance, Inc. at 714 956-8371 Jerry L'Ecuyer is a licensed contractor & real estate broker. He is currently on the Board of Directors and Past Chairman of the Education Committee of the Apartment Association of Orange County. Jerry has been involved with apartments as a professional since 1988. Frank Alvarez is the Operations Director and co-owner of Buffalo Maintenance, Inc. He has been involved with apartment maintenance & construction for over 20 years. He is also a lecturer & educational instructor and CoChair of the Education Committee of the Apartment Association of Orange County and Chair of the Education Committee at Southern Cities Apartment Association.

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Rental Housing Journal Metro · April 2017

Rental Housing Journal Metro

Where Are the Nation's Young Homebuyers Now? Pittsburgh, DC and Des Moines New LendingTree Study Analyzes Mortgage Requests, Loan Amounts and Housing Costs for buyers 35 and under

CHARLOTTE, N.C., March 16, 2017 PRNewswire

M

illennials in Pittsburgh, Washington D.C., and Des Moines, are pursuing home ownership more than their counterparts in any of the nation's 100 largest cities, according to a new study by LendingTree®, the nation's leading online loan marketplace. These young homebuyers are at the forefront of a growing nationwide trend of young buyers returning to the housing market.

LendingTree analyzed mortgage requests and offers for borrowers aged 35 years and under between August 1, 2016 and February 1, 2017, along with requests from the total population of mortgage-seekers based on the location of the property to be mortgaged. The city rankings are generated from the percentage of total purchase mortgage requests received by LendingTree from borrowers in the millennial generation.

Pittsburgh, PA tops the list with 48.4% of all purchase mortgage requests

coming from millennials, followed by Washington, D.C. (46.8%) and Des Moines, IA. (46.4%). The average loan amount requested by young borrowers in those cities are $201,921, $381,110 and $173,439, respectively.

On average, 36.1% of all mortgage requests through LendingTree between August 1, 2016 and February 1, 2017 come from consumers 35 years and younger.

This is a slight increase from the same period last year, where 34.24% of loan requests came from millennials. The average loan amount requested from this age group is $175,180, compared to an average of $191,157 for those over 35.

"Thanks to a stronger jobs market and overall economy, the 35-and-under crowd is growing up," said Doug Lebda, CEO of LendingTree. "Although millennials have been slow to the real estate market, the appeal of homeownership remains strong, and we're beginning to see more activity with this generation. Rising home prices and high student Millennials in Ohio are seeking the most affordable mortgages, with Toledo,

Rental Housing Journal Metro · April 2017

Akron, Lakewood and Dayton claiming four of the top ten cities with the lowest average mortgage amounts for the age group. On the other hand, California is host to four of the ten cities with the highest average mortgage amount: San Francisco, San Jose, Los Angeles and San

Diego.

The chart on page 19 ranks the top ten cities with the highest percentage of purchase mortgage requests submitted by consumers no older than 35 years of age: continued on page 19

15

Rental Housing Journal Metro

Tia's Tips ...continued from page 11 15. Landlords may charge non-compliance fees of $50 for a 2nd offense and $50 plus 5% of the rent amount for all subsequent offenses for the following breaches of contract:

want to stay, a landlord is obligated to return any portion of the security deposit or prepaid rents the departing tenant tendered at the beginning of the tenancy.

a. Disturbing the quiet enjoyment of the neighbors. b. Improper use of a vehicle. c. Smoking in a clearly designated non-smoking unit or area of the premises.

be available, and refund the fee in full promptly if they do not screen the applicant.

3.

B - false. The HUD Memo on the use of criminal history standards for applicants was issued due to a disparate impact of the use of these records against those of Hispanic or African descent. The clarification provides that a landlord must take into consideration not only a criminal act or acts, but the likelihood of recidivism, and the actual danger to the property, the neighbors, the landlord, or the landlord’s agent. Refer to the ROA website to read the text of the memo.

4.

B - a landlord may retain the DTH in full. The DTH agreement gives each party certain rights. Should the applicants opt against moving in for any reason not related to the landlord’s ability to provide the property, they may keep their deposit to hold in its entirety. If for whatever reason, the landlord is unable to deliver the property as promised, they must refund the deposit to hold promptly in its entirety. Without a signed deposit-to-hold form landlords must return any money collected as a DTH if the tenant doesn't move in, no matter who's at fault.

a. True b. False 20. If a tenant leaves any property behind after they vacate the premises, a landlord is obligated to: a. Serve an abandoned property notice, but only if the property value is more than $1000.

d. Keeping on the premises an unauthorized pet capable of causing damage.

b. Hold the property for 30 days and dispose of it if the tenant doesn’t make contact.

e. Both a & b f. Both a & c

c. Serve an abandoned property notice and provide the tenant with an opportunity to retrieve their property.

g. Both c & d h. All of the above i. None of the above

d. Sell the property and apply the proceeds to the tenant’s account.

16. Accepting behavior by a tenant outside the bounds of the rental agreement for three separate rental periods creates a problem called:

e. Withhold the property pending payment in full of all outstanding amounts owing to the landlord.

a. Leave

f. The landlord has no obligation regarding a past tenant’s property and may consider the property abandoned.

b. Waiver c. Discrimination d. Nothing, it creates no problem 17. If the power goes out due to bad weather, a landlord is obligated to:

Answer key: 1.

a. Put the tenant up in a hotel until power is restored. b. Provide food, blankets and an alternate heat source until the power is restored. c. It is an Act of God and they have no obligation. d. None of the above.

18. Once all tenants have vacated the premises, a landlord must provide a written accounting of all deposits paid within days. a. 30 days b. 14 days

2.

c. 45 days d. 31 days 19. In a month-to-month tenancy, if one tenant among a group gives notice and vacates, but the other tenants

C - chilling effect. Make sure your language written or spoken describes the property, not the kind of people you think should live there. Make sure the words you say or write don’t indicate discriminatory intent or action based on an applicant or tenant’s membership in a protected class. Protected classes are: Federal – Race, Color, National Origin, Religion, Gender, Familial Status (families with children), and Disability. State of Oregon: Marital Status, Source of Income (including housing subsidies like Section 8), Sexual Orientation, and Gender Identity. Eugene: Type of Occupation, Ethnicity and Domestic Partnership.

D - all of the above. If a landlord accepts screening fees to cover the cost of screening applicants, they must provide written screening criteria to view prior to or along with the application, provide a receipt for the fee, have an available unit or one that will

5.

6.

B - limit the size or breed of pet.

Landlords may limit the size, breed or species of pets allowed. Additionally, they may charge a pet deposit and pet rent for the privilege, but not a pet fee or non-refundable pet deposit.

7.

D - neither a nor b. A landlord must consider all requests for reasonable accommodation, which is a request for a change in policy to accommodate an individual with a disability. In regard to assistance animals, there is no set number of animals that a resident may request; however, the request must be reasonable and while it is a violation to ask the nature of the disability, a landlord may require that the individual verifying the disability have direct knowledge of the isability.

It is also okay to verify that a secondary or tertiary animal provides some additional service or assistance related to the disability that the first does not.

8.

B - false. An assistance animal is an assistive device to allow a disabled tenant the right to enjoy their rental unit the way a non-disabled person could. Like a wheelchair, a landlord may not charge any deposits or fees for an assistance animal.

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E - none of the above. A fee is a non-refundable payment of money.

Fees are strictly limited to the following: screening, late payment of rent or utilities, dishonored check, lease break, smoke/CO alarm tampering, unauthorized pets capable of causing damage, parking violation or improper use of a vehicle, trash violation, smoking violation, animal waste violation, HOA/COA move-in or moveout fees, and municipal fees. These are the only fees a landlord may charge.

Landlords are not required to account to tenants for lawfully charged fees, but there are strict requirements that must be met for charging and billing fees to tenants, or terminating tenancies based on non-payment of fees.

9.

E - both a & b. Landlord-tenant law allows a landlord to require renter’s insurance with limitations. First, the requirement must be disclosed in writing prior to accepting any pay-

ments, but can be offered as a 30day Notice of Change in Terms after move-in on a month-to-month agreement. Second, landlords may require that the renter’s insurance policy maintains liability coverage of at least $100,000, and names the landlord as an Interested Party. Third, the landlord may not require renter’s insurance if the household median income based on household size is below 50% of the median for the location of the dwelling unit. (Income calculator can be found at www.hud.gov.)

If allowed by law, failure to maintain the required renter’s insurance policy in force, name the landlord as an Interested Party, or reduction of liability coverage below the minimum $100,000, is a breach of contract for which the tenancy can be terminated.

10. B - false (but partly true). Landlords must change the locks immediately upon demand after submission of a third-party verification of domestic violence, sexual assault, or stalking by the tenant, and may not charge for the service prior to being paid to do so; but they may require repayment from the victim within a reasonable time frame for the cost.

11. B - false. A victim of domestic violence, sexual assault or stalking may not be held financially liable for damage caused by their perpetrator.

12. E - all of the above. Victims of DV have special rights, which include the ability to release themselves and any immediate family members from a rental agreement – including a fixedterm lease - with only 14 days’ written notice and without penalty. They also have the right to ask their landlord to terminate the tenancy of a perpetrator, and to continue their own tenancy, even if there have been police visits, noise complaints, or damage related to DV. All of these allowances require the victim to provide a third-party verification of the incident(s) of DV occurring within 90 days preceding the tenant’s request.

13. A - a 144-hour Notice to Pay or Vacate for Nonpayment of Rent. Typically, rent is due on the 1st, and if allowed by the rental agreement, late if not received by midnight of the 4th. This language allows landlords to charge a late fee and serve a notice for nonpayment at that point. Without that language in the rental agreement, rent is considered late if not received by midnight of the 7th. Most landlords wait and serve a 72-hour notice on the 8th day, but it is permissible to serve a 144-hour notice as early as the 5th day. Both notices will expire at the same time, the 144 just provides more time to cure. In a week-to-week tenancy, a landlord may serve a 72hour notice on the 5th day, but that is the only exception. Some low-income housing providers are required to serve a Notice of Termination with Cause for late rent payments, giving the tenants 14-17 days to cure the notice, or the tenancy terminates in 30.

14. D - both a & b. To have the right to serve a legal notice by post-and-mail a landlord must meet three requirements: First, the right must be stated in the written rental agreement. (If landlords don’t have a written rental agreement, they don’t have the right to post-and-mail. If landlords have a written rental agreement and the post-and-mail language is absent, they don’t have the right to post-

Rental Housing Journal Metro · April 2017

Rental Housing Journal Metro

Tia's Tips ...continued from page 16 and-mail.) Secondly, the right must provide reciprocity to the tenant to post-and-mail notices to their landlord by the listing of a physical address wherein the landlord may be served notice. (If landlords don’t have a physical address listed in the rental agreement or some other document associated with the tenancy, such as a notice of change-in-terms, they don’t have the right to post-and-mail. If the stated location is a post office box or other mail box, landlords don’t have the right to post-and-mail.) Thirdly, the listed reciprocal location must be a reasonable distance from the dwelling unit. (The distance is not defined, but landlords should take into account the tenant’s abilities and transportation options when deciding if this requirement is being met.)

If a landlord doesn’t have the right to post-and-mail their legal notices, they have to either personally serve a notice to each named party, or mail the notice first class mail separately to each named party and all other occupants, adding three days for mailing (not counting the day it is mailed).

15. B - improper use of a vehicle. Disturbing the quiet enjoyment of neighbors is not an offense for which a landlord may charge a noncompliance fee, but repeated violations may be grounds for a termination of the rental agreement. Smoking violations will incur noncompliance fees, but the fee is $250 per violation, and the same is true of unauthorized pets capable of causing damage. There are substantial legal requirements and limitations for charging tenant fees, and for termi-

nating a tenancy for nonpayment of fees.

16. B - waiver. When a landlord accepts rent for three separate rental periods with knowledge that the tenant is breaching the contract, they re-write the terms of the agreement.

17. C - it is an Act of God and there is no legal obligation. If a failure of essential services is caused purposefully or negligently by the landlord, there is a legal obligation to provide appropriate assistance. If the lack of essential service is due to factors beyond the landlord’s control, there isn’t, but many landlords sense a moral obligation to offer what help they can. This concept goes both ways. If the rental unit is damaged by an Act of God beyond the tenant’s control, they have no legal obligation to their landlord to mitigate damages, or protect the property, and cannot be held financially liable.

18. D - 31 days. A landlord has the obligation to provide a written accounting of all deposits and prepaid rents tendered by the parties to a rental agreement once the tenancy has terminated for all occupants. The 31-day clock begins the day the landlord regains legal possession of the dwelling unit.

19. B - false. When deposit monies are tendered for a month-to-month tenancy, the deposit stays with the property until the last person vacates.

Individual tenants may vacate the premises with a 30-day written notice, and release themselves from responsibility when their notice expires, but they abandon any rights to any por-

tion of the refundable deposits paid, including pre-paid rents. In a fixedterm tenancy, if the landlord and the other residents choose to release one party from the agreement, they may be required to refund that party’s prepaid funds, so be careful to clearly state in any release agreement that by their signature of release, they are also waiving rights to those deposits or pre-paid rents. If all parties to a lease break the lease and move out early, landlords are still required to account for their deposits and pre-paid rents within the 31-day deadline. Additionally, the law states that the written accounting be placed in a first-class mail receptacle on or before the 31st day, not that it must be postmarked that day.

20. C - serve an abandoned property notice and provide the tenant with an opportunity to retrieve their property. If you serve that notice personally, the tenant has five days, and if by mail eight days to make contact. The tenant then gets an additional 15 days from the date of contact to arrange to retrieve their belongings, but the retrieval may not pose an undue burden to the landlord. Withholding a tenant’s personal property pending the payment of monies owing is illegal. A landlord may require the payment of storage charges alone, if incurred, as long as the personal property was not abandoned after an eviction action, in which case a landlord may not require pre-payment of the storage charges before releasing the personal property. If there is no response during the statutory notice period of the notice,

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and the total value of the abandoned property is less than $1000, the property may be donated to charity. If the property is worth more than $1000, landlords are required to hold a public sale and apply any proceeds of the sale to the tenant’s account, refunding any overage to the tenant, or if unclaimed for two years, refunding the overage to the Department of State Lands.

A landlord may not keep any of the abandoned property, but must donate to charity any items not sold.

19-20 – You are the Mary Poppins of landlords – practically perfect in every way.

15-18 – You are on the cusp of greatness.

Continue your education, stay aware of changes in the law and you shall succeed.

11-14 – You know a lot, but not enough to avoid trouble. Continue to take classes, read the ROA bulletin, re-read through the archived articles on the website, and when in doubt call the Helpline.

6-10 – You are at legal risk. You should consider hiring an attorney or consultant to look over your situation to help you correct your deficiencies before they hurt you. Consider hiring a professional property manager.

0-5 – You are at great risk of costly legal claims and personal misfortune. Hire a professional property manager immediately.

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17

10/25/16 4:45 PM

Rental Housing Journal Metro

ASK LANDLORD HANK 5 Questions Landlord Hank Asks Tenants When They Call

Veteran landlord and property manager Hank Rossi takes on questions each week from landlords and property managers around the country. His goal is to help educate fellow landlords and property managers on issues he has seen in his 30 years in the business. This week the question from a property manager is about what questions you ask when the tenant first calls?

Question: You have received your first inquiry regarding your rental property, via phone or email. What do you ask someone inquiring for information about your property and why, when they first contact you?

Landlord Hank: Even though you may have put an ad on the internet loaded with details and photos, someone may have seen a sign for your property or heard about the unit through a friend or current resident.

So my first question is, "How do you know about our property"?

If the prospective tenant says they saw an ad, then most of their questions will have been answered in the ad. If they haven't seen an ad I do a brief description of the unit and development.

No. 2 My second question then is, "When you do need to begin a lease?”

If someone wants to rent a currently available unit NOW, then you may have a candidate. If prospective tenant’s current lease isn't up for six months, then your immediately available unit will be long gone. If you have multiple units, perhaps another down the road could work for this prospect.

No. 3 My third questions is, “Do you have any other questions?

Answer any specific questions related to the property so prospective tenant

can determine if they would like to move forward to a tour.

No. 4 This is really a series of questions related to determining if you as a landlord could want this prospect as a tenant.

For instance, if your community doesn't accept pets you could ask, “Do you have pets?” If you do accept pets, you'll need that information as well, as prospective tenant could have a pack of pit bulls.

Next I want to know how many individuals will be in the unit. We don't want two families sharing a unit, etc.

By now, you will have built up some rapport with prospective tenant and you could ask, "Is there anything else you would like to tell me?

Maybe you'll find out that the prospective tenant had an unreasonable landlord. Or maybe they will say, "We just lost our house!" Or, maybe the prospective tenant has a legitimate complaint about

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their current property. There could be issues around poor maintenance history, poor management, unpleasant living conditions such as noisy neighbors, barking dogs, a messy complex, parking problems, etc.

No. 5 If you would consider this prospective tenant then next ask, "When would you like to tour the property?" The sooner the better so you can begin the process of vetting tenant and renew the income stream from this unit.

A few final thoughts: You as a landlord spent time and money to develop this lead. So treat this prospective tenant with respect, kindness and honesty just like you'd want someone to treat you. This prospective tenant could spend much of their life in your rental as a great tenant, but you never know. Next, if you have a chance to see tenant’s car, take a look.

Often one's car care will reflect the living situation.

If they open the car door and trash falls out or the muffler is held up with a coat hanger, you'll have a feeling about this prospective tenant. Hopefully they drive up in a well-kept auto.

Also, notice and evaluate the prospects themselves. Do they reek of smoke and are seeking to rent a "no smoking" unit, etc?

Lastly, never take a tenant because either you or they are desperate. If a tenant doesn't make the grade and have the required funds your guidelines require, then reject them, properly. Either take a good tenant or no tenant.

Send your landlord and property management questions to Dear Landlord Hank and he will answer them in this blog on the site.

About the author Hank Rossi: “I started in real estate as a child watching my father take care of our family rentals- maintenance, tenant relations, etc , in small town Ohio. As I grew, I was occasionally Dad's assistant.

In the mid-90s I decided to get into the rental business on my own, as a sideline.

In 2001, I retired from my profession and only managed my own investments, for the next 10 years. Six years ago, my sister, working as a rental agent/ property manager in Sarasota, Florida convinced me to try the Florida lifestyle.

I gave it a try and never looked back. A few years ago we started our own real estate brokerage focusing on property management and leasing and I continue to manage my real estate portfolio here in Florida and Atlanta. “ Visit Hank’s website here.

Rental Housing Journal Metro · April 2017

Rental Housing Journal Metro

Young Homebuyers ...continued from page 15 Millennial % of City Total Requests Pittsburgh, PA 48.4% Washington, DC 46.8% Des Moines, IA 46.4% Boston, MA 45.8% Saint Louis, MO 44.8% Minneapolis, MN 44.7% Cincinnati, OH 44.6% Chicago, IL 44.4% San Francisco, CA 44.3% Omaha, NE 44.3%

RANK 1 2 3 4 5 6 7 8 9 10

About LendingTree LendingTree (NASDAQ: TREE) is the nation's leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan.

Since inception, LendingTree has facilitated more than 65 million loan requests.

LendingTree provides free monthly credit scores through My LendingTree and access to its network of over 450 lenders offering home loans, personal loans, credit cards, student loans, business loans, home equity loans/lines of credit, auto loans and more. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information

Millennial Avg Mortgage Amount $201,921.20 $381,109.72 $173,439.39 $410,504.06 $189,499.26

Millennial Avg Monthly Payment $991.60 $1,855.50 $868.30 $1,988.85 $950.81

Millennial Avg Down Payment $33,963.72 $83,461.28 $25,878.79 $88,876.65 $32,242.21

Total Avg Mortgage Amount $213,236.55 $394,768.74 $186,074.07 $399,061.78 $215,774.46

Total Avg Monthly Payment $1,044.47 $1,919.24 $929.38 $1,939.79 $1,077.11

Total Avg Down Payment $47,766.16 $97,201.74 $42,554.23 $100,112.71 $49,657.54

$226,158.13 $173,904.70 $273,375.89

$1,109.16 $882.24 $1,351.78

$40,572.73 $25,575.72 $59,480.14

$230,035.47 $190,127.95 $263,723.87

$1,138.59 $954.05 $1,306.82

$47,100.00 $37,213.88 $61,906.75

$528,760.74 $192,215.45

$2,614.03 $956.71

$160,400.55 $29,637.38

$497,802.92 $211,689.19

$2,452.78 $1,045.44

$144,979.96 $42,510.95

go to www.lendingtree.com, dial 800555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.

MEDIA CONTACT: Megan Greuling Megan.Greuling@LendingTree.com 704-943-8208 SOURCE LendingTree

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

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CHECK-IN/CHECK-OUT CONDITION

ION REPORT

TENANT(S): __________ ADDRESS: __________ ______________________________ ____________________ ____________________ ______ CITY: __________ __________________U ____________________ NIT: ______________ _____ STATE: ________ Rating Scale = (E)Excellent ZIP: _________________ (VG) Very Good (G)Good (F)Fair (P)Poor ( IN Out LIVING AREAS WA-RTG-40 Washington In Out KITCHEN In Out Walls

OR-RTG-20 Oregon

REPORT

48-HOUR NOTICE TENANT(S): Windows OF ENTRY OR-RTG-24 Oregon __________________ __________________ ____________ ADDRESS: ____________________________________ __________________ Blinds/Drapes TENANT(S ): ____________________ ____________UNIT: ______________

BEDROOM 3

Walls

Walls

Stove/Racks

Windows

__________ ADDRESS: __________ Rods ____________________ PET AGREEMENTCITY: ___________________________________ STATE: ________ ZIP: _________________ ____________________ __ D DATE:_____ _____________ CITY: Ice

TENANT INFORMATION

Rating Scale = (E)Excellent (V (VG) G) Very Good

TENANT(S): ____________________________________________________ DATE:________ IN ADDRESS: ____________________________________________________ UNIT: _________ LIVING AREAS CITY: _________________________________________ STATE: __________ ZIP: _________ DESCRIPTION OF PET(S)

Walls

Windows

1) Type _______________ Breed _______________ Size ______ Age __ WeightBlinds/Drapes ___ Color ____ Name ________ Vaccinations: Yes____ No____ License Number: ______________

Rods

2) Type _______________ Breed _______________ Size ______ Age __ Weight ___ Color ____ Name ________ Vaccinations: Yes____ No____ License Number: ______________ Floor

Out

KITCHEN

(G)Good (F)Fair (F)F (P)Poor

In

Walls Stove/Racks Refrigerator Ice Trays Shelves/Drawer

Out

BEDROOM 3

In

Refrigerator

Trays ___ ____________________ ____________________ Floor __ U ____________________ UNIT: _________ _ STATE: __________ Shelves/Drawer Carpet/Vinyl/Wo ZIP: _________ od

Out

48-HOUR NOTICE Light Fixtures OF ENTRY

Disposal

Dishwasher

Pursuant to RCW Doors/Woodwork 59.18.150, this is your Counter Tops Walls 48 hour entering the dwelling notice that your la Locks landlord or their agents unit and premises located at (Address) ____________________ Cabinets will be Windows ____________________ Ceilings ____________________ Sink Blinds/Drapes __________ Electrical Outlets ________ on between the hours Floor Rods of Garbage Cans (Date) and .

Windows (Time) Floor TV Antenna/Cable (Time) The entry will occur Blinds/Drapes for the Light Fixtures Fireplace ____________________ following purpose: __________ __________ Cleanliness Doors/Woodwork__________ ____________________ ____________________ __________________ ____________________ Locks ____________________ ________

Blinds/Drapes Rods Floor Light Fixtures

STATE SPECIFIC FORMS FOR

PMS 280/PMS 7543 over color

ARIZONA, ALASKA, CALIFORNIA, COLORADO, DELAWARE, FLORIDA, GEORGIA, ILLINOIS, INDIANA, KANSAS, KENTUCKY, MASSACHUSETTS, NEVADA, NEW JERSEY, NEW YORK, NORTH CAROLINA, OHIO, OREGON, PENNSYLVANIA, TEXAS, UTAH, WASHINGTON, WASHINGTON D.C., WEST VIRGINIA & MORE.

Doors/Woodwork Locks Ceilings

Additional Security Deposit Required:$

Light Fixtures

AGREEMENT

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

Phone

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

BEDROOM 2

Walls

Windows

Windows

Blinds/Drapes

BEDROOM 2

Walls

Landlord

Floor

and m mail.

Rods

______________________________ Floor Tenant ______________________________ Light Fixtures Tenant Doors/Woodwork

Locks ©2011 NO PORTION of this form may be reproduced without written permission.

Ceilings Electrical Outlets

Walls

Windows

Blinds/Drapes

Rods

Floor

Doors/Woodwork

Locks

Light Fixtures Doors/Woodwork Locks Ceilings Electric Outlets

may be reproduced without written

Ceilings

Electric Outlets

Smoke Detectors

Essential Services Plumbing Heating

Hot Water

permission.

©2009 NO PORTION

of this form may

be reproduced without

written permission.

First Appearances Small Claims

503-242-2312 Landlord Solutions Inc.

evict@landlord-solutions.com

Serving Oregon and Washington since 1997, LSI is a proud member of Rental Housing of Oregon Alliance and Multifamily NW

Fan (Exhaust)

Floor

sales@rentegration.com 02

Electric Outlets Light Fixtures

Essential Services Plumbing

Heating

Electricity

Hot Water

Smoke Detectors

of this form may

Electricity

Smoke Detectors

©2011 NO PORTION of this form

Locks

Ceilings

Electrical Outlets

Smoke Detectors

©2009 NO PORTION

Our services include: Full FED Service

Light Fixtures

Doors/Woodwork

Toilet

Tub/Shower

Fan (Exhaust)

Floor

Electric Outlets

Light Fixtures

Let us lower your stress level.

We make your management job easy!

Smoke Detectors

BATH ROOM

Towel Bars

Sink & Vanity

Toilet

Tub/Shower

Rental Housing Journal Metro · April 2017 _____________________________ Landlord

Landlord Solutions Inc. can help!

Electric Outlets

www.Rentegration.com 503-933-6437

3) Type _______________ Breed _______________ Size ______ Age __ Weight ___ Color ____ Name ________ Carpet/Vinyl/Wood Vaccinations: Yes____ No____ License Number: ______________

DO NOT put over a busy background

STRESSFUL?

be reproduced without

written permission.

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