Metro Rental Housing Journal August 17

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Rental Housing Journal Metro

2. Multifamily Market Will Hit Records in 2017 as Investors Return 3. Majority of Rental Property Investors are Small Entrepreneurs 5. RHA Oregon President’s Message

August 2017

6. Over-Automated Recruitment Processes can Leave Job Candidates Frustrated 7. The Secret to Creating a Successful Property Management Team

www.rentalhousingjournal.com • Professional Publishing, Inc

9. Midyear Report – Suburban Office Challenging CBD 11. Amazon Launches Delivery Locker Product for Apartment Buildings 14. Dear Maintenance Men

16. Seattle Tightens Rental Inspection Rules On Landlords 17. Seven Sins in Real Estate Investing 19. Apartment Pet DNA Testing Expands to “Travel Dog” Concept

Portland/Vancouver

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

Q&A

Portland Landlords Lose First Round in Suit Against Relocation Ordinance

A

judge has ruled in Circuit Court in Portland against landlords who had challenged the city’s relocation ordinance passed earlier this year. Judge Henry Breithaupt, a tax court judge sitting in Circuit Court, upheld the relocation assistance ordinance and ruled against the landlords’ argument that the relocation ordinance amounted to rent control and illegally sought to stop no cause evictions. The city’s law allows tenants to collect between $2,900 and $4,500 when landlords use no-cause evictions or raise rents more than 10 percent in a year. Portland’s ordinance is set to expire in

Canine Liability Insurance

by John Triplett

...continued on page 5

D

ebbie Turner got into the canine liability insurance issue after she adopted a schnauzer, named Jazz, who had personality issues. She began to learn the different aspects of canine behavior so she could try and figure out why Jazz was so broken. Jazz led a long and healthy life and ultimately died of old age. “But somewhere it just hit me that the insurance industry is not underwriting the canine exposure," she said. She became interested in canine behavior and "found insurance companies just do not know how to underwrite this risk,” she said in an interview about what led her to start Dean Insurance Agency and the website dogbitequote.com. “I started working on this pet insurance and canine liability issue in the summer of 2010 doing a research paper. When a friend read it and said, ‘That’s not a research paper that is an insurance policy.’ “For me this is a passion. As a child I saw my mother dump our family pet on the side of the road. I looked back and saw him trying to catch us. I can remember screaming and crying. I guess there were not a lot of options back them. I ...continued on page 8 Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007

J

Real Estate Trust Buys Portland Apartments for $75 Million

ory Trail at the Grove, a complex of Class A apartments in the Portland, Oregon suburb of Wilsonville has been purchased for $75 million, according to a release. The purchase was made by JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT, according to the release. Wilsonville is a thriving suburb of Portland that features a robust apartment market, low market vacancy and no multifamily units under construction or planned in the submarket. Jory Trail has 324 units and is 95% leased, according to the release. The suburb is located along the I-5, providing access to some of greater Portland's major employment centers and is home to Xerox, Mentor Graphics, Rockwell Collins and Tyco. Wilsonville, which has attracted a growing population of affluent families, also offers an exceptional public school system that Niche.com and US News

PRSRT STD US Postage PAID Portland, OR Permit #5460

& World Report have ranked as a top school system both locally and nationally. Wilsonville's strong employment base and high barriers to entry should result in continued strong demand and future rent growth.

in the Pacific Northwest "The acquisition of Jory Trail at the Grove demonstrates JLL Income Property Trust's strategy to invest in high-quality apartment assets in strong-performing areas featuring a combination of top

Apartments are company's first

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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


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