Rental Housing Journal Metro
June 2017
3 Top Regret for Home Buyers and Sellers is Not Prepping Soon Enough
10 Soft Landing Or Bumps Ahead for Multifamily Investment?
5 RHA Oregon President’s Message
11 Can I Say "No Pot In My Apartments" When It’s Legal In My State?
7 Win, Win: Improving Cash Flow for Renters and Property Managers
13 Tia’s Tips for Better Rental Management
8 Apartment Pet Amenities Draw Millennial Tenants
14 Is It Time to Upgrade Your Technology?
www.rentalhousingjournal.com • Professional Publishing, Inc
Portland/Vancouver
Published in association with: Multifamily NW; Rental Housing Association of Oregon; IREM & Clark County Association
Five Ways Managers Can Perk Up Employees this Summer
H
by OfficeTeam uman resources managers report workers may feel less productive in the summer and want more flexible schedules, while fewer companies offer flexible schedules, according to a new research. In addition to wanting more flexible schedules in the summer, employees also want the ability to leave early on Fridays, a more relaxed dress code, and events such as company picnics. However trends involving those employee desires have reversed since 2012, according to the survey from Office Team, a Robert Half company. Now fewer companies are offering these benefits with a decline in flexibility of hours and leaving early on Fridays. Also the most common employee behavior that managers see is employees not planning well for vacations. "It's natural for employees to get distracted when the weather's nice and thoughts turn to plans outside the office,” Brandi Britton, a district president for OfficeTeam, said in a release. “But savvy companies maintain staff productivity and morale by embracing summer in the workplace. "Letting ...continued on page 4 Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007
Why is It so Hard to Build Affordable Housing in Portland?
By John Triplett
A
leader in the Portland affordable housing industry talks about why it took four years to get 40 units of affordable housing done from concept to opening. Tom Brenneke has a passion for building affordable housing in the community where he lives and is proud to talk about his latest 40-unit project when recently opened – a triumph of affordable housing. “I have a particular passion for affordable housing,” said Brenneke, who is president of Guardian Real Estate Services LLC. “I enjoy the complexities,” he said in an interview with Rental Housing Journal.
R
“We are a housing organization that runs the range from very low income to market rate. We have the highest priced housing in town that we operate and
the lowest priced housing in town. In terms of affordable housing, I enjoy the complexities, I enjoy the mission. It is ...continued on page 19
Rents Rising in the Suburbs
ents are rising in the suburbs as many renters are looking outside of city centers for more affordable housing, causing rent payments to grow faster in the suburbs than urban areas As rents become more expensive, renters are starting to look for cheaper housing options outside downtown cores, according to a release from Zillow. For the first time in four years, suburban rents are rising faster than urban rents The monthly cost of a suburban rental in the U.S. is up 2.5 percent, while the cost of an urban rental is up 2.3 percent. This is the first time in four years that suburban rents are rising faster than urban rents. Suburban rents are outpacing urban rents in Nashville, San Francisco and Seattle, which are all hot housing markets. In Nashville, the cost of an urban rental is up 1.7 percent, but the cost of a suburban rental is up about 5 percent. In San Francisco, the price of an urban rental is falling, down 0.4 percent since this time last year, but suburban rental PRSRT STD US Postage PAID Portland, OR Permit #5460
prices are up almost 3 percent year-overyear "Because walkable urban centers close to amenities are typically a big draw for renters, you'd expect rents to rise faster in the city than in the suburbs -- which is exactly what we've been seeing until very recently," Zillow Chief Economist Dr. Svenja Gudell said in the release. "But a handful of factors are helping turn the tables and beginning to push suburban
rates up at a higher clip. These include: Deteriorating rental affordability in expensive urban cores New apartments, albeit high-end ones, opening downtown compared to relatively few in outlying areas Preferences among some renters toward the space offered by single-family homes in the suburbs. “Rents themselves are still lower in the ...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