Rental Housing Journal Metro
July 2017
3. Fewer Renters Think it's a Good Time to Buy a Home 4. Proven SEO Tactics for Apartment Communities 5. RHA Oregon President’s Message
6. In an Urban High-Rise Apartment
10. Multifamily Spotlight 10
7. Cost of Freon for Older Air Conditioner Repairs is Skyrocketing
13. Top 3 Biggest Stressors for Property Owners and Managers in 2017
8. Why is the Internet in Apartment Complexes So Bad?
15. Q3 2017 Special Report - Amazon Steps Into Real World Retail
9. Property Management Leadership Requires Timely Information
6. Solving the Pet Pee Needs
www.rentalhousingjournal.com • Professional Publishing, Inc
Portland/Vancouver
Published in association with: Multifamily NW; Rental Housing Association of Oregon; IREM & Clark County Association
Rent Control and No Cause Evictions Bill Dies in Senate
Colorado Springs Named Hottest Housing Market
C
ontroversial legislation to remove the state-wide ban on rent control in Oregon and to set new rules for no-cause evictions has died in the Oregon Senate, according to reports. The bill, HB 2004 , passed the Oregon House 31-27 in April, but lacked support in the more conservative Senate and failed after several attempts to amend it. The Senate Human Services Committee modified the bill to make it less punitive against landlords. The committee’s amendments reduced the circumstances under which landlords would have to pay relocation fees to tenants who were forced to leave at no fault of their own. The Senate
by Dow Jones Publication
...continued on page 5
By Myle sMa
C
olorado Springs is the country’s hottest housing market, according to a list published Tuesday by MarketWatch, a publication of Dow Jones & Co. The ranking is based on mortgage application data analyzed by ATTOM Data Solutions. Markets in Colorado and the Carolinas are drawing the most potential home buyers, according to data released recently by ATTOM Data Solutions. The property data company analyzed mortgage applications to create its “PreMover Housing Index,” a measure of the proportion of homes likely to sell in a market. The index is based on the ratio of mortgage applications that include an estimated loan settlement date to the number of homes in a given market. Mortgages that have a so-called “pre-mover” flag, like a settlement date, close within 30 days 62.2% of the time, according to ATTOM’s data. An index above 100 in a given market means an above-average ratio of homes will be sold there compared with the national average. ATTOM looked at ...continued on page 7 Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007
Current Economic Data Supports Multifamily Investments
T
he macro data suggests that multifamily investments and properties continue to be a strong performing asset class, says the CEO of a specialty investment bank focused on real estate, according to a release. Multifamily is still supported by strong economic fundamentals, generally outperforming most other property sectors, David Blatt, CEO of Capstack Partners says in the release. Lenders have recently begun to express caution about financing new multifamily investments because of concerns that there is too much
inventory. Many banks share the belief that the added supply will cause vacancies to increase and rents to drop, especially those lending into primary and high growth markets, which have been seeing the most investment activity over this last market cycle. PRSRT STD US Postage PAID Portland, OR Permit #5460
While it is certainly valid to monitor the volume and delivery pace of apartment inventory, banks’ views can often get distorted when their primary data source is their loan portfolio allocation, Blatt
says in the release. While lenders will naturally become more selective as they consider increasing their multifamily investments exposure, ...continued on page 10
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