Rental Housing Journal Metro
May 2017
3. Real Estate Investors Beware!!
13. Being a “Remarkable” Property Manager
5. RHA Oregon President’s Message
14. Ask Landlord Hank
6. President's Message Multifamily NW
18. Bedbugs Still a Risk
7. Five Qualities & Habits of Great Property Managers
19. Spring Cleaning Tips and Tricks for Homeowners
11. U.S. Homeowners Give Record High Satisfaction Scores To Their Insurers
www.rentalhousingjournal.com • Professional Publishing, Inc
Portland/Vancouver
Published in association with: Multifamily NW; Rental Housing Association of Oregon; IREM & Clark County Association
Manufactured Housing National Report
Seeding Change Protecting Your Single Family Rental’s Landscaping
Investors Moving Inland From Coasts
A
mid Occupancy Gains in the Midwest Growing demand for manufactured housing is lifting occupancies and rents for a 10th consecutive year. The run-up in pricing of homes, condos and apartment rents is generating renter interest in relatively affordable options in manufactured housing communities. In particular, aging baby boomers seek communities located in warm climates with amenities and recreational options. While newer, highly amenitized agerestricted communities in the Sunbelt remain a top choice for older renters, continued on page 8
By Cliff Hockley and Jeremy Boardman
M
ort Studebaker was the owner of single family home rentals. His rental agreement required the tenants to take care of the landscaping. A simple concept you would think, but not really. First of all, the tenants didn’t really read the couple lines of fine print in his agreement and they knew nothing about landscaping or plants. More importantly even though they were moving in for what was usually a two year term, they had no landscaping tools. The Dead Yard His last tenant turn really angered Mort. The tenants had not watered the grass all summer and it had died. It looked like a burned out mess. Years ago, Mort had installed a sprinkler system, but the tenants wanted to save on their water bill, so they decided not to turn on the sprinkler system . In this case, before Mort could rent the house, he had to completely redo the yard at a cost of over $2000. He was sick and tired of fighting with his tenants over landscaping. Sure, Mort had obtained a security deposit from the tenants, but it would never cover the cost required to replace all of the grass in the yard and any additional damage to the house. As a result, he decided to modify his rental agreements to clarify the tenant responsibilities. He added the following: Tenant Responsibilities • Landscaping must be returned in original condition at move out. continued on page 12 Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007
Elevated Home Prices Invigorate Seniors Housing Demand While Prospects of Healthcare Reform Raise New Questions
T
he aging U.S. population is a major driver in today’s seniors housing segment. A weakened housing market as a result of the Great Recession encouraged many older Americans to extend stays in residences, and the homeownership rate of those older than age 75 peaked in the years that followed. A strengthened housing market, however, is prompting many seniors to sell homes and move into seniors housing communities, where broader access to care is available. While this has increased demand for seniors housing properties today, the segment is also preparing to receive an influx of residents over the next several years as baby boomers head into retirement and require the services of seniors housing communities, prompting a rise of new units. Majority assisted and independent PRSRT STD US Postage PAID Portland, OR Permit #5460
living facilities are set to receive the bulk of deliveries for the foreseeable future, though the construction of memory care units is on the rise to meet increased demand that supports the care of seniors with dementia.
Senior-care providers must balance industry changes. In an effort to reduce resident turnover, seniors-care operators are striving to attract and service a wider range of residents. Advances in medical continued on page 16
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