Metro ( Portland ) RHJ Janaury 2018

January 2018

Rental Housing Journal Metro

2

Landlords Missing Rent Payments Online after Company Bankruptcy

6

How Do You Practice Compliance In Apartment Leasing and Management?

10 Single-Family vs Multifamily Real Estate Investing

4

The Multifamily Investing Forecast for 2018

7

Are You Prepared for Winter?

5

President’s Message

8

RHA Oregon President's Message – Optimistic in 18

How Apartment Rules to Protect Children Could be Discrimination

12 7 Tech Gadgets for a Safer and Efficient Rental Property

9

Can I Say “No Pot in My Apartments” When It’s Legal in My State?

13 Dear Maintenance Men 15 5 Maintenance Tips for Long-Lasting Rental Carpet Flooring

Portland/Vancouver

www.rentalhousingjournal.com • Professional Publishing, Inc

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

10

Steps to Winterize Your Rental Property

The Best Cities to Invest in Apartment Buildings in 2018

By Vinney Chopra

T

he best cities to invest in apart apart-

ment buildings for 2018 and which markets will provide best returns is the subject of this blog by veteran real estate investor and syndicator Vinney Chopra. He takes a look at the best cities to invest in

R

ecord freezing temperatures recently can be a challenge for property managers and for tenants so here are 10 steps to winterize your rental property in the maintenance checkup this week provided by Keepe.

Dealing with ice, snow and frost will be a common occurrence for many Americans this winter, which is why it is important to make properties safe for tenants, aiming to minimize slipping hazards and annoyances resulting from weather-damaged or malfunctioning amenities. Winter-proofing for the safety of tenants is just as important as Winterizing vacant rental properties.

This post explains why vacant lots are most vulnerable in the cold season, and how to best prepare them for the cold season to prevent property damage and related repair costs.

Why winterize vacant rentals?

Whether tenants are on vacation or a property is simply waiting to be rented out, planning to prepare it for vacancy should be made a priority for safety reasons - and even more so when freezing temperatures and harsh weather also become a concern. Snowstorms can become a frequent occurrence and bring along the burdens of snow buildup, drops in temperature can cause entire systems to freeze and become compromised, while the cold season itself makes it that much worse for both property managers and tenants to experience the discomforts

apartments as many begin to see a softening of rental rates and rising vacancies.

We enter 2018 with a changing environment in multifamily investing, but some of the underlying keys for investors’ success are still there if you look closely.

“The biggest challenge is going to be

finding attractive places to put new money to work,” Brian Kingston, chief executive of Brookfield Property Group, one of the world’s largest real-estate investors, told the Wall Street Journal. “Investors need to be cautious about the prices they’re paying.”

Add to that the likelihood that interest ...continued on page 19

Forget the Millennials, the Baby Boomer Renters Want Apartments Some highlights of the Baby Boomer renters report:

T

he current trends in apartment

development are suddenly attracting a new kind of renter, Baby Boomer renters over age 55 who want to live in apartments in the suburbs, according to a new study.

These potential new tenants are highly educated and have no children in the

household.

“Whether driven by a change in lifestyle, a consequence of the housing crash, or an inability to downsize due to lack of affordable homes, senior households are embracing renting in droves,” according to RentCafe.com.

Between 2009 and 2015, the percentage of the renting population over 55 years old increased by a whopping 28% (vs. 3% increase in renters 34 or younger).

By education, the biggest changes came from renters holding a bachelor degree or higher: up by 23% (vs. 17% increase in college graduates).

Renter households with no children saw the most significant percentage increase when looking at family type: up by 21% (vs. 14% increase in families with children).

Nationwide, the number of senior renter households saw a 2.5 million gain between 2009 and 2015, the largest net increase by age group, according to the study.

Baby Boomer renters choosing suburban lifestyle

Since 2009, 39% more Baby Boomer renters over 55 have chosen the suburban lifestyle for their rental housing. ...continued on page 7

...continued on page 6 Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007

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Finding Investing Success in Today's Housing Market

Rental Housing Journal Metro

Landlords Missing Rent Payments Online after Company Bankruptcy

D

ozens of landlords around the country are missing rent payments online and still trying to collect funds tied up in an online ecommerce dispute that had led to a Kentucky-based online company bankruptcy last month.

CC Operations LLC dba eCHECKit, filed a bankruptcy petition in October in Kentucky. eCHECKit is the payment processor for the 13-year-old Fort Collins, Colorado, company eRentPayment, which offers landlords and property managers the convenience of collecting rent payments online.

According to eRentPayment’s website, tenants pay rent on the company’s secure website and it is processed in the automatic clearinghouse, or ACH, network and then deposited in the landlords’ accounts.

It is still unclear how many landlords may have received some payments and how many are still missing rent payments online and seeking payments from reports.

The Ft. Collins, Colorado newspaper reported, as an example, landlord Wes Kalter’s tenants paid their $3,200 rent on Oct. 5, the same as always. The money paid to eRentPayment.com should have

2

eRentPayment Oct. 12 and had received 41 complaints last month and has suspended eRentPayments’ accreditation.

Missing rent payments online

made it to Kalter’s account within three to five days. It never showed up, according to the newspaper.

Kalter says he has talked to 91 other landlords who are owed about $250,000 in rent payments, and to Fort Collins police.

Kalter told the newspaper he is not holding his tenants responsible and blames eRentPayment for “not giving us a route to fix this. ERentPayment is

blaming eCHECKit ... all they are telling us is eCHECKit is declaring bankruptcy, and we’re out $250,000. They’re just blowing us off.”

But eRentPayment emailed customers, claiming that recent payments weren’t made because of issues with its payment processor, eCHECKit, which filed for bankruptcy protection.

The BBB of Colorado and Wyoming said it started getting complaints about

“In my husband’s and my case, it’s about $4,000 that we’re missing,” Sherrie Mills, a Denver Realtor who owns investment property, told the Business Den. Mills said she has used eRentPayment for three years.

Mills told the newspaper she’s disappointed by what she sees as a lack of communication by the rent management company. Next month, she’s avoiding rent payments online and asking tenants to cut her a check. “I think it’s turned me off permanently,” she said. “At no point did we think our funds were at risk.”

Multiple posts by various landlords around the country on Bigger Pockets discuss what has been happening with the payments.

Rick Sands, president of eRentPayment, wrote on his company Facebook page, payments made through the site now are being processing by New York-based Esquire Bank, and those made after Oct. 12 are being processed without issue. The latest Facebook posts from the company, ...continued on page 10

Rental Housing Journal Metro · January 2018

Rental Housing Journal Metro

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Rental Housing Journal Metro

The Multifamily Investing Forecast for 2018

By Vinney Chopra

brokers and making quick decisions when opportunities arose.

Just recently, Multifamily executive reports, “Class B and C multifamily housing will have the greatest potential for high returns in 2017 and well into 2018.”

Do I agree? Yes, I definitely think so.

For the last nine years, my companies and other multifamily investing groups have enjoyed healthy cash flow returns along with the equity gains in the C+ and B class assets in B and A areas. In our companies, we have always gone after the jobs, and the emerging smaller markets outside of the large metro areas where there is path of progress and job market is healthy and growing. Below is a chart from Marcus & Millichap.

W

hat is your mul-

tifamily investing forecast for 2018? I hear a lot that a correction is coming in multifamily Investing.

Is it really?

When?

Where, in what markets?

How long will it last?

These questions have been on the minds of a lot of multifamily Investing groups and multifamily syndicators.

The market has been strong for about eight or nine years. Usually the market cycle lasts about that long too.

I wanted to share my perspective on it. It is very hard to predit the future.

Especially in the times of uncertainty with talk of possibly lowering of tax rates, and cutting out of social programs and small business tax breaks all in the name of economic growth.

So it is very hard to project the multifamily investing forecast for 2018 due to 5 current factors.

Many markets across the nation have

peaked.

The rents are at the highest level in years.

The vacancies have been low.

There is less product for sale on the market The competition is fierce.

But the savvy and tough investment groups always find ways to acquire the right properties even in the heated

Is Class B and C the way to go?

markets.

One of the keys is to look at B and C properties in my multifamily investing forecast I have been fortunate to create a niche markets in Texas and Georgia.

I have been able to do 12 syndication acquisitions in the last couple of years.

We have purchased C properties and B properties in growth markets through developing great relationships with top

Multifamily executive reports that what is driving this is, “the oversupply of Class A communities in combination with a drop in demand, the rising cost of homeownership, and millennials entering the market by the millions.

In the midst of this trend, foreign investors have begun to take notice and make their own plays on U.S. multifamily ...continued on page 11

Upcoming Events 1/10/2018

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It's the Law: Starting on the Right Foot: Hot Issues for The Upcoming Year

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Strengthening Front Line Skills for Maintenance

2/7/2018

Landlord Study Hall: Housing Regulation, State & Local

2/8/2018

Fair Housing Fair Education Conference

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It's the Law: Wearing Multiple Hats: Understanding the Differences Between Commercial and Residential Tenancies

2/13/2018

Landlord/Tenant Part II

2/14/2018

HR Issues: Guarding Against Cyber Attack

Form of the Month Appliance Addendum – M078 OR-WA APPLIANCE ADDENDUM DATE __________________________________________ PROPERTY NAME / NUMBER ___________________________________________________________________________________________________________________________________________________________________ RESIDENT NAME(S) ___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

UNIT NUMBER ___________________________________ STREET ADDRESS ___________________________________________________________________________________________________________________________________________________________________________ CITY ___________________________________________________________________________________________________________________________________________________ STATE ___________________________________ ZIP _____________________________________________________________

Resident hereby acknowledges that the appliances listed below have been provided by Owner/Agent to be used exclusively in the Unit.

Resident agrees: (a) to use all appliances in strict compliance with all manufacturer’s instructions (which can be found online); (b) not to move, remove or alter the appliances; (c) to notify Owner/Agent immediately if any appliances are damaged, leaking or not functioning properly; and (d) to return the appliances at the end of the tenancy in the same condition as when provided by Owner/Agent, normal wear and tear excepted. Resident is responsible for all damages arising from failure to follow the rules above, or any improper use of the appliances.

Resident certifies that he/she has inspected the appliances and that the appliances are properly installed and in good condition and working order. If signed at move-in, Resident agrees to notify Owner/Agent of any deficiencies within five days.

APPLIANCE

(check if supplied)

MAKE

MODEL

SERIAL NUMBER

Refrigerator _________________________________________________________________________________________________________________________________________________________________

Dishwasher _________________________________________________________________________________________________________________________________________________________________ Range _________________________________________________________________________________________________________________________________________________________________

Microwave __________________________________________________________________________________________________________________________________________ _______________________ Washer _________________________________________________________________________________________________________________________________________________________________

Dryer _________________________________________________________________________________________________________________________________________________________________

_______________________________________________________ __________________________________________________________________________________________________________

_________________________________________________________________________________________________________________________________________________________________

_____________________________________________________________________________________________________________________________________ ____________________________

APPLIANCES SUPPLIED BY RESIDENT

Resident may not supply any appliance for use on the Premises.

Resident may supply their own appliances, subject to the following rules: Resident agrees that for any appliances Resident brings on the Premises: 1. Resident must obtain prior written consent from Owner/Agent for any appliances supplied by Resident. See Air Conditioner Installation Agreement (Form M050) for rules related to air conditioners.

2. Proper installation is critical to avoid damages, costly repairs and great inconvenience. Therefore: A. Such appliances must be installed in full compliance with all manufacturer’s instructions. A professional is strongly recommended to perform any installation.

B. Be careful when moving appliances as Resident is responsible for any damage to floors, walls, cabinets or any other part of the Premises damaged while moving an appliance.

C. Written consent from Owner/Agent is required prior to installing any washing machine or any other appliance connected to plumbing. Owner/Agent has the right to inspect any installation, reinstallation, etc. or any adjustment of or to a washing machine or any other appliance connected to plumbing.

D. For washing machines, an attachment must be installed to prevent the drainage hose from accidentally coming out of the drain pipe.

E. Resident will be responsible for any damages resulting from any malfunction of the washing machine, leaking washing machine or the drainage hose coming loose from the drain pipe, or any malfunction of any other appliance attached to plumbing.

3. Resident must operate all appliances in full compliance with the manufacturer’s instructions.

4. Resident must maintain all appliances in good working order and Owner/Agent does not repair any Resident provided appliances.

5. Resident must remove from the Premises any appliances Resident provided upon termination of the tenancy and is responsible for any damages caused as a result of such removal.

6. Resident is responsible for any damages caused by appliances that are provided by Resident(s) on or about the Premises.

Form M078 OR-WA Copyright © 2017 Multifamily NW ®. NOT TO BE REPRODUCED WITHOUT WRITTEN PERMISSION. Revised 11/28/2017.

APPLIANCES SUPPLIED BY OWNER/AGENT

This brand-new form is designed to communicate expectations regarding appliances, whether the resident may supply any for use on the premises - including rules for installation and use.

Appliances suppled by the Owner/Agent are cataloged and disclosed to the resident with responsibilities for proper use and liabilities for damage.

The provisions contained in this document are incorporated as part of the parties’ Rental Agreement. Failure to comply with any of the terms herein constitutes a material violation of the Rental Agreement.

X

_____________________________________________________________________________________

X

RESIDENT

_____________________________________________________________________________________

RESIDENT

X

_____________________________

_____________________________________________________________________________________

_____________________________

_____________________________________________________________________________________

DATE

DATE

X X

RESIDENT

RESIDENT

_____________________________________________________________________________________

ON SITE

4

RESIDENT

OWNER/AGENT

_____________________________

DATE

_____________________________

DATE

_____________________________

DATE

MAIN OFFICE (IF REQUIRED)

Rental Housing Journal Metro · January 2018

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

President’s Message Optimistic in 18

Ron Garcia, RHA Oregon President

W

atching all of the New

Year’s Eve celebrations around the world on TV this month made me reflect on two things: First, that the optimism of a new year is a worldwide celebration with no social, political, or religious boundaries, limitations or qualifications. It’s truly a globally unifying event! Secondly, I realized that I’m home watching TV on that night when the rest of the world is out having a great time. Ugh.

I suppose that’s the trouble with optimism - it tends to set up the cynical “yeah, but…” side of the issue.

So to get back on track, I ask myself – Do I have a 2018 New Year’s resolution?

Well, let me state that I do have a great deal of enthusiasm for this coming year as President of The Rental Housing Alliance Oregon. And yes, I am optimistic about who we are and what we do. So let’s consider: • Since 1927 RHA Oregon has set the standard for community participation by landlords providing Affordable, Quality and Fair housing.

• Our Board of Directors is 18 people

Past President: John Sage Office Manager: Cari Pierce

strong and committed to serving our nearly 2,000 members.

• Our monthly education classes are taught by industry leaders on topics beginning with Fair Housing and Landlording 101 to protecting the property, understanding the tenant relationship, and one-on-one mentoring to help members become quality rental housing providers.

• Our monthly dinner meetings provide a forum for speakers that have included the Secretary of State, the Secretary of Labor and Industry, Mayoral candidates, top tier legal panels, recognized economists and tax specialists, as well as vendors and services that run the gambit from fire prevention and plumbing problems, to bed bugs, energy savings, handyman tips and even exit strategies for those who have spent their lives as rental property owners and facing retirement.

• Our state lobbying efforts have won praise and respect from both sides of the aisle and from other housing and trade associations. RHA Oregon has participated in crafting housing policies and laws for decades. Nothing could be more important going into 2018 than building on the integrity of

Rental Housing Journal Metro · January 2018

these years of efforts to help promote the rights of individual property owners.

• Our Owner Services include rental housing forms and tenant screening.

These are accessible on line and used throughout the State of Oregon.

• Our building is owned by the membership and open from 9 to 5 Monday through Friday. We have a large conference room used to house classes and meetings and it is available to rent out for private business events.

• Our Vendor Services platform is crucial to our success and it is an expanding asset that allows our members to stay ahead of the curve and learn from the industry itself. Meeting the owners, operators, technicians and executives of services that cater to the needs of rental properties and investors is a specialty benefit that cannot easily be duplicated through any other venue.

• Our Community Involvement has raised literally thousands of dollars to help put homeless families into safe housing, clothe and feed thousands of individuals, provide Christmas gifts to children around the state, and assist Veterans in need. Service is a core value of The Rental Housing Alliance of

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

Oregon.

• Our annual picnics and “Starry Night Celebrations” and our holiday parties and Happy Hours are all times when we get a chance to meet one another and have special moments to enjoy ourselves in welcoming environments.

They are never dull and always fun.

So what is my New Year’s resolution for 2018? It’s this: If you find yourself at home, reading my message while on the couch and watching TV when we are all engaged in meaningful activities that support our association, industry and community at large, I resolve to meet you at our next meeting and invite you to join us to get more involved.

We need you this year more than ever!

See you then.

Ron Garcia, RHA Oregon President •

5

Rental Housing Journal Metro

How Do You Practice Compliance In Apartment Leasing and Management?

By Ellen Clark

C

an you imagine how delighted you’d be if all of your employees were compliance experts?

Studies of top performers in music, chess, and sports point to the importance of practice in the development of expertise.

With most skills in life, if you want to be great, you have to practice.

But how does one practice compliance?

As trainers, we sometimes fall into the “check the box” mindset.

We are happy when all employees take their fair housing or harassment training once a year.

Deep down, though, we know it takes more than that to be really good at compliance. It takes practice.

How can you create meaningful compliance practice initiative?

Here are some tips!

• Creating a recurring monthly training scenario will help your learners to retain and transfer compliance lessons

to their jobs.

• Make a practice plan. Create an initiative around compliance practice.

For example, create monthly compliance refreshers where employees get a few scenario-based questions to answer. Build a course in Vision X to deliver and score the questions.

• Create a little competition and make it fun. Set up a simple leaderboard or acknowledge participating employees in a company-wide email or with a few words at a team meeting. You might be surprised what some healthy competition can do.

• Focus on meaningful, relevant scenarios • Use realistic scenarios and decisions that employees will encounter on the job.

• Making the practice scenarios relevant will ensure employees don’t feel they are wasting their time.

Use your experience to generate real scenarios, but also scan HUD, EEOC or state agency websites for important

compliance news, recent claims and court decisions. These are great for developing scenarios.

Learners tend to succeed when allowed to practice in a safe, low-stakes environment Create a safe space.

In job training contexts, practice allows learners to succeed or fail in a safe, lowstakes environment.

When presenting practice activities to employees, don’t penalize them for getting things wrong. People need to feel like they can try and fail without being afraid of consequences or feeling bad.

Let them know that practice is low stakes because the high stake part is on the job!

Practicing compliance strategies will not only keep things fresh in employees’ minds, but will allow them to apply their knowledge to novel situations in order for them to go beyond memorization to understanding.

This is when you will start to see behaviors change on the job, which is what training is all about.

Read Ellen’s blog here.

About the author: Ellen Clark is the Director of Assessment at Grace Hill. Her work has spanned the entire learner lifecycle, from elementary school through professional education. She spent over 10 years working with K12 Inc.’s network of online charter schools - measuring learning, developing learning improvement plans using evidence-based strategies, and conducting learning studies. Later, at Kaplan Inc., she worked in the vocational education and job training divisions, improving online, blended and faceto-face training programs, and working directly with business leadership and trainers to improve learner outcomes and job performance. Ellen lives and works in Maryland, where she was born and raised.

For nearly two decades, Grace Hill has been developing best-in-class online training courseware and administration solely for the Property Management Industry, designed to help people, teams and companies improve performance and reduce risk.

•

10 Steps to Winterize ...continued from 1 of failing systems and amenities.

1. Shutting off the water supply system is ideal because it is most vulnerable to breakage and damages caused by freezing temperatures. To avoid pipe bursting and leaks that could happen while the property is vacant, consult a professional and have a full water supply shut-off procedure, which is designed to “seal” the water supply system to prevent cracking, bursting and other issues caused by water freezing. After this procedure is complete, it is a good idea to leave all faucets open to both drain leftover water and prevent pressure buildup, as well as adding antifreeze fluid to toilets after they are flushed of remaining water.

2. Servicing and setting up the heating system is important to save energy, prevent malfunctions and also supplement measures taken to protect the water supply system. Some older water supply systems are connected to the heating system, and particular circumstances might make completely shutting off the water supply system unsuitable: in this case, if a property is vacant indoor spaces do not need to remain warm and livable, but leaving the heating system on and setting temperatures to 55°F or slightly higher will make it warm enough to help preventing frozen pipes. Before the property is vacated, it is adequate to have a professional check both heating and water supply systems to ensure there are no pre existing damages or

Text REALESTATE-ROI to 44222

weaknesses that could be worsened by the harsh season.

3. Having the electrical and HVAC systems checked, especially when planning to keep heating running.

An electrician should check wiring, outlets and the main panel to make sure no system failures happen while the property is vacant - especially if the heating system and water systems also depend on it. An HVAC specialist can ensure that it is performing efficiently during the cold months and check for potential issues that could worsen while the property is vacant, 4. Shutting off gas lines to prevent incidents related to gas leaks while the property is inhabited. Having a professional check the state of gas lines is also a good way to ensure the continued safety of the system.

5. Unplugging all appliances makes it so they do not use unnecessary “phantom energy” while keeping them from being the cause of a short out that could cause a fire.

9. Installing a security system allows remote monitoring of the property, which helps preventing break-ins and remaining alert and aware of the overall conditions. Video, Bluetooth and sensor systems are able to send out real-time alerts that facilitate immediate responses following the detection of unexpected activity but also leaks and electrical faults. Even opting for a simpler system - such as automatic, pre-set outdoor lighting for the night time - can be significantly helpful with making the property look occupied to potential burglars.

10. Directing mail and packages to a new address makes the property look occupied by avoiding overflowing mailboxes and busy porches to become a clear sign of vacancy to passerby’s, which again can be an invitation for break-ins.

•

6. Having the gutters cleaned and the roof inspected to avoid ice and snow buildups that could add strain to the roof and flood the space.

7. Repairing cracks, openings and drafts both prevents pests and wildlife from accessing the property as well as making sure that the indoor temperature does not drop, potentially leading the heating system to function inefficiently.

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8. Inspecting trees and surrounding vegetation allows a professional landscaper to check whether any dead trees or branches could become hazardous in extreme weather conditions.

Rental Housing Journal Metro · January 2018

Rental Housing Journal Metro

Forget the Millenials

Are You Prepared for Winter?

...continued from 1

Among the 20 largest metros in the US, Riverside boasts the highest percentage increase in terms of senior renteroccupied households (63%), while Los Angeles posts the biggest gain (approx.

134,000).

Comprised mostly of Baby Boomers, this generation has lived a big part of its life in the suburbs, essentially being responsible for the launch and prosperity of the consumer suburb. Owning a home and raising a family in a suburban community truly defined this age group.

Now it finds itself in a big empty house, with too much space to keep up and high property taxes to pay. They are not moving into the city in an urban environment.

“Lowering living expenses, looking for a different lifestyle, less house-related work and overall less responsibility can be achieved by downsizing, so a lot of retirees opt to rent,” Simona Solomie, a real estate broker with Remax Masters of Morton Grove, Illinois, who works with home sellers, buyers, and renters in the western and northwestern suburbs of Chicago, told RentCafe in the study.

Baby boomers also account for the highest increase in renters in urban areas, but the spike in numbers is much higher in the suburbs (21% vs 39%). The second highest increase comes from renters aged 35-54, 27% in the suburbs and 8% in the city.

A

s winter is upon us, it

is prudent to ensure any wood-burning system in your multi-units are clean and safe for the burning season.

Wood-burning systems leave creosote build-up (creosote is the residue left caused by smoke and chemical reaction of the burning). It is recommended these are

checked for safety regularly, as creosote is a fire hazard. A build up of creosote can cause poor flow of the smoke out of the unit or home, causing smoke or odor to come back in. Also, an upper multi-unit can get smoke from a lower unit when a fire is burning, and there are remedies for this.

These are problems that can be easily handled if caught in time. A Certified Chimney Sweep can inspect and clean the units to ensure any issue is addressed. Better safe than sorry.

Dryer vents are also important to keep clean, though not a seasonal issue,

as dryer vents are used all year round.

A clogged dryer vent can decrease a dryer's efficiency markedly, causing the dryer to use twice the time and energy to dry the clothes. This can lose you a lot of money in the long run with the wasted electricity. Lint is also a highly flammable substance that can present quite a fire hazard to your property. Also, an inspection of the dryer's airflow will help to discover that the dryer vent does vent outside of the building and not into the attic, for example, creating a fire hazard.

In most cases, when a complex has both fireplace

chimneys and dryer vents to clean, it is much more cost effective to have them all cleaned at the same time (chimneys and dryer vents).

Usually there are bulk cleaning rates available that will save you a lot of money on this important maintenance item.

So with this point of view, sufficient planning and effective action, you can rest assured that all your properties will be ready for winter.

Article submitted by Portland Chinney & Masonry Inc.

•

Cities with largest increase in Baby Boomer renters

In all 20 largest U.S. metros in the study, without exception, the rate of increase in senior renters greatly surpasses that of younger renters.

The two largest gains were in the Los Angeles metro and New York metro. The Los Angeles metro gained 134,000 new senior renter-occupied households and lost 26,000 renter households under 34 years of age.

New York City gained an additional 124,000 renter households over 55 during this time period and about 54,000 under 34.

While Los Angeles and New York had the biggest numbers, the fastest growing areas Phoenix, Riverside and Tampa showed the biggest increases in Baby Boomer renters.

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7

Rental Housing Journal Metro

How Apartment Rules to Protect Children Could be Discrimination

The Grace Hill training tip of the week focuses on how rules you think could protect children, could actually open up landlords and property managers to charges of discrimination.

By Ellen Clark

complies with fair housing law.

When working with prospective residents, it is ok to ask about the number of people who will live in the apartment home, but do not ask questions specifically relating to children.

N

ormally, when you think of fa-

milial status discrimination, you likely think of things like refusing to rent to families with children, charging families with young children higher deposits, or steering them to certain buildings.

But what about rules or policies that are intended to protect children?

Could these be discriminatory?

A story from a condominium complex in Fremont, California brings to light the issue around policies or rules that are intended to protect children, but actually could subject the property management to discrimination charges.

A condominium complex had a longstanding rule that tenants’ children could not run and play outside within the complex gates. The rule was set up by the homeowners’ association, citing safety concerns, and threatened to fine residents for violations.

One of the residents claimed that she and her children were subjected to threats, intimidation, and harassment. A

Three questions to avoid asking: •

housing nonprofit called Project Sentinel brought a class action lawsuit pro bono and recovered $800,000 from the condo managers. Additionally, board members of the homeowners’ association must undergo fair housing training and post signs indicating that children are allowed to play outside.

Excluding children from areas

other residents can use could be discrimination

This news item reminds us that excluding children from areas that other residents can use could be considered discrimination—even if the intent of the exclusion is to protect them.

Here are some tips for working with families with children in a way that

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How many adults and children will be residing in your apartment home?

• How many children are in your family?

• How old are your children?

Instead, ask: “How many people will be residing in your apartment home?”

Do not discriminate against families with children by stopping or restricting children’s use of community facilities or services. Safety and liability are still important, but you must create your community policies carefully.

Avoid statements like: “Children may not skateboard on community property.”

Instead say: ...continued on page 18

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Rental Housing Journal Metro · January 2018

Rental Housing Journal Metro

Can I Say “No Pot in My Apartments” When It’s Legal in My State?

By John Triplett Rental Housing Journal

C

issues, and the U.S. Department of Housing and Urban Development (HUD) it is a situation where HUD wants it in the lease that marijuana is illegal but enforcement is another issue, he said. It is not so much that HUD wants landlords to evict over marijuana, but that you have something in the lease language that allows for eviction in the instance of marijuana use on the property. “So it is pretty clear as far as HUD is concerned,” he said. Here are his answers to four questions on pot and apartments.

became the world’s largest legal marijuana market. When pot is legal in a state, what issues does this present to property managers and landlords of rental properties? This was Rental Housing Journal readers’ top story in 2017 alifornia

just

Property managers are often confused and seeking to better understand how to handle the issues of legal marijuana and medical marijuana when it comes to tenants and rental housing in their states.

Laws are changing all the time in many states, just as California did on January 1, 2018, as voters approve different levels of permission when it comes to marijuana.

This leaves property managers trying to figure out what should be in their leases around the issue.

You may be able to ban smoking, but do you really know what your tenants are eating or growing in their apartments?

Do you really want to know if they are good paying tenants?

Rental Housing Journal did a recent interview with Seattle, Washington attorney Bret Sachter, an expert in tracking

No. 1 - Tenants with a disability and medical marijuana

the progression and transformation of marijuana laws, to discuss some common questions property managers have about marijuana and tenants.

“I’ve been asked this a lot,” Sachter said, “but it does not come up as often as you might think. The overarching issue here is that, with few exceptions, people can do what they want to protect their property, even if the prohibited behavior

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is not illegal. You can prohibit smoking, prohibit pets, but with marijuana it’s much easier because it is federally illegal.

So you can pretty much prohibit it if you want to no matter what, even medical marijuana,” Sachter said.

4 questions about pot, tenants and apartment leases

Sachter says in terms of Fair Housing

Question: If a tenant comes in and says I have a disability, here is a note from my doctor, I use medical marijuana, which is legal in this state, and I want to rent your apartment. Can a landlord prohibit that?

Answer: “A landlord can absolutely prohibit that because marijuana is illegal under federal law.” The landlord can say, “I understand our state allows medical marijuana but as it is still a Schedule 1 drug and I prohibit it on my premises.”

No. 2 - Marijuana is legal in my state - but what does the lease say?

Question: What if a tenant says

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Rental Housing Journal Metro

Single-Family vs Multifamily Real Estate Investing

By Vinney Chopra

1.

S

ingle-family vs multifamily real

estate investing? It is a question many real estate investors ask again and again. Certainly there are advantages to both. Starting out as a single-family investor, veteran multifamily investor Vinney Chopra shares his thoughts on this question

When I started my real estate investing career about 30 years back, I thought buying single-family homes to rent was a great investment and would potentially secure my future wealth.

So I began buying single-family homes and learning the business that went with it, such as financing, upkeep and the challenges that went with it. Since they were scattered in many states we chose to hire property management companies to manage them. The cash flows were erratic but the tax benefits of owning and renting them was good.

We just kept on purchasing and holding them for retirement. But I have to confess this year we sold all of them except for a duplex we bought six years ago that cash flows very nicely.

Single-family and multifamily homes are great for both seasoned investors and up-and-coming investors. As with any real estate deal, please do your due diligence to ensure the deal makes sense financially and fits your personal goals for your investing business.

“For those considering taking the

plunge and investing in multifamily properties or single-family properties, it’s important to understand which investment vehicles do what,” writes Paul Esajian. “Deciding among single-family or multifamily properties is largely about personal preference and goals.” So let’s take a look at single-family vs multifamily real estate investing and which is the right path for you.

Scattered houses vs units all on one site

“When you invest in scattered houses, the operating expenses are higher and management is more intense than it would be for a multifamily rental property with all the units on one site,” Jerry Chautin writes.

“That’s why management companies charge more for scattered houses. It is

Landlords Missing Rent Payments ...continued from 2

however, indicate that some payments from early October still had not reached landlords’ bank accounts. The posts have attracted dozens of comments from frustrated customers, according to Business Den. The issues faced by Kentucky-based payment processor eCHECKit, have put Tempe, Arizona’s Check Commerce in the middle of the dispute, according to a report by the East Valley Tribune.

The newspaper reported the Tempebased company, rent payment online processor for eCHECKit, froze over $4 million of eCHECKit’s funds in a reserve account due to irregularities it

noticed in debit and credit instructions that eCHECKit submitted on behalf of its merchants.

In a notice to consumers, Check Commerce stated, “At that time, Check Commerce believed that eCHECKit lacked sufficient available funds to cover the corresponding credit transactions for the debits it had submitted on behalf of its merchants,” according to the newspaper.

The issue began when property owners using the eRentPayment online platform realized they had not received automated clearing house payments submitted by tenants in early October, the newspaper reported. It became clear that issue

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difficult to monitor for unruly parties, pet damage and illegal activities such as making and selling methamphetamines,” he says.

As a matter of fact we had that happen to us in CA inland rental single family home, where our property management company discovered a meth lab when the authorities cited us. We did get it all abated and re rented the house but after spending a lot of money in the process. The unexpected Capital needs due to having to buy a new boiler, air conditioning replacement or tune up, garage malfunction, tree roots getting too close to the house and many other expenses tend to eat in to the cash flow very quickly

3 advantages of single-family vs multifamily real estate investing

Easier to get into, single smaller loan or cash deal 2. Appreciation due to the neighborhood growth 3. Easier to sell when needed “While the market where the investment is located naturally influences all of these factors, there are a lot of potential advantages to single-family vs multifamily real estate investing properties,” Andrew Bilen writes. ”Particularly for individuals looking to build their portfolio over time, Single-family vs multifamily real estate investing offers the option of acquiring units gradually, while the strengthening housing market and high demand for rentals help to minimize risk.”

3 advantages of multifamily vs single-family real estate investing 1.

Higher Cash Flows, more consistent also due to less effect of vacancy; if 2 tenants leave out of 20 units apartment, it’s still 90% occupied.

Bigger pool of tenants; less risk!

2. Bigger control over value, the value is based on the net Income the multifamily generates. By adding value the rents can be increased over time as the leases expire.

3. Economies of scale. This is a big one.

We only need to replace 2-3 roofs if need be for 20 units as compared to 20 roofs in case of single family homes. Maintenance requests can be handled easily in one location ...continued on page 14

stemmed from financial problems faced by eRentPayment’s payment processor, eCHECKit, the newspaper reported. eRentpayment said on their website last month, “We regret to inform you that our payment processor, eCHECKit, has informed us that it expects to file for bankruptcy protection. We are told that it suffered losses due to a fraud and that its processor, Check Commerce, has held over $4 million of its funds and will not release the funds to the intended recipients at this time. Please note that eRentPayment had nothing to do with the fraud eCHECKit suffered. It was apparently caused by another client of eCHECKit, according to a statement on erentpayment.com.

“The transactions potentially affected were submitted after approximately 7:31:00 PM (Pacific time) on 10/03/2017 through approximately 7:01:33 PM (Pacific time) on 10/12/2017. Any transactions submitted after this time period should not be affected as they are being processed through eRentPayment’s new direct bank relationship. Similarly, any future transactions should not be affected as they will be run through the new direct processing relationship.

“We do not know if or when Check Commerce will send the pending transactions to the recipients.

Accordingly, you should consider your options including having the tenant contact his or her bank to request the transaction be reversed. Specifically,

the tenant may initiate a return for an “Incomplete Transaction.” We understand that the return code for this is “R10” and the bank will require a written statement from the tenant. Also, the tenant will have a limited time period to request the return from his bank, usually within 60 days from the date of the transaction,” the company said on its website last month.

“We are contacting the Attorney General of Arizona, the National Automated Clearing House Association, and reviewing legal action against the relevant parties,” according to eRentPayment.

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Rental Housing Journal Metro · January 2018

Rental Housing Journal Metro

Forecast 2018 ...continued from 4 real estate.

As we all know, the U.S. is becoming more of a renters nation, the millennials are loving the “portability” aspect of living. They like living in B class apartments with nice aminities, no need to mow the lawns or take care of the swimming pools etc. and no need to drive to the fitness club because all of this is contained at the dwellings.

The growth of this segment of population as shown in the above graph tells the story.

I predit the market for B class apartment communities will be quite healthy for a long time.

Multifamily executive says, “Class B and C properties also allow real estate investors opportunities to enjoy a significant lift in NOI by making small property improvements. Examples of these value-adds include putting in communal clubhouses, adding dog parks, putting cafes, media centers and offering community events. These upgrades to B and C apartments can be relatively inexpensive to implement yet can generate higher rents, leading to rapid ROI growth.”

My present companies, Moneil Investment Group and Moneil Management Group have been bringing value to C and C+ communities and converting them to high occupancy Class B assets. The investors really like the fact that along with the cash flow returns they are enjoying the forced appreciation of their investment in equity gains.

Cafes and media centers are examples of value-adds

Millennials love apartments The generation has been dubbed Generation Rent and is expected to continue driving apartment demand through 2024. Experts assert millennials are interested in homeownership, but are too laden with debt to pursue it.

Their interest in owning a home will become more apparent as they continue to age, pay off debt, get married and start families — but this is still a long way off for the majority of the generation.

Meanwhile, Class B and C properties are attracting a wide demographic, from working-class individuals to millennials entering the market to downsizing baby boomers.

These properties are typically 15- to 25-years old and are located in desirable buildings in well-established middleincome neighborhoods. They tend to offer residents the most bang for their buck, attracting renters in a down economy.

Why apartments are booming with Baby Boomers

There is a rental-demographic that’s feeling quite young and spry. And old age isn’t something they will be thinking about for years.

It’s the Baby Boomers, most of whom will turn 65 by 2030. Every single day,

for the next decade, about 10,000 Baby Boomers will become 65 years old, retire and turn their attention to where and how they’re living.

Born between 1945 and the early 1960s, this is a demographic that’s going to drastically redefine the composition of the U.S. population. In fact, 18 percent of all people living in the nation will be aged 65 and above in the next decade or so.

While they’ve been homeowners for the better part of their lives, recent housing studies show that approximately over the last 10 years, Baby Boomers have become the second biggest rental demographic, right after the millennials.

According to data coming from Harvard University’s Joint Center for Housing Studies reveals that between 2004 and 2013, renting saw a rise among people aged 50 to 75. Today, most renters are around 40 or older.

Despite being a strong demographic that’s leaning more and more towards renting, the Baby Boomers haven’t received quite the same attention as the younger millennials.

Property managers, landlords and real estate investors alike have been exploring ways in which they can make their rentals appeal to the more dynamic millennials. Fortunately, the things that the Baby Boomers and millennials want aren’t too different. They want a sense of community fused with interiors that are suited for their specific needs.

Great opportunites lie ahead for more senior living facilities and nice, well-cared for communities to meet their demand.

How about foreign investors in 2018 – what will we see in multifamily investing forecast for 2018?

Multifamily executive reports, “More foreign investors are seeing this potential in the U.S. multifamily housing market.

According to an analysis by Real Capital Analytics, as reported in National Real Estate Investor, foreign buyers poured a record $91 billion into U.S. commercial assets in 2015, $19.6 billion of which was invested in apartment communities.

And through June 2016, foreign buyers invested a record $5.1 billion in apartment communities.

“To put that number into perspective, over the course of the previous decade, foreign investors averaged a mere $5.4 billion in multifamily product annually.

We’re seeing much of this money coming out of China, as well as Canada and Mexico.

Additionally, in the commercial real estate industry, we’ve begun seeing an influx of investors from the Middle East and South Africa, many of whom are pouring money into multifamily properties. The reality is that the combination of a proderegulation president and potentially unstable economies abroad is making the current U.S. market especially attractive to investors from overseas, therefore drumming up foreign investment in the U.S. real estate market.”

Multifamily on the rise

Multifamily saw the next biggest inflow of overseas capital, with a broader subset of foreign sovereign wealth and pension funds increasing their exposures to the space.

“While some overseas investors are focused on suburban investment strategies due to current urban development levels and pricing, others are seeking to align U.S. multifamily with office exposure from a market and sub-market perspective,” says JLL Americas Research Director Sean Coghlan. “We will see more transactions from these groups, likely at scale, in non-conventional structures and with strong domestic sponsors. However, selectivity will remain the norm.”

Ongoing diversification With pricing elevated in primary markets, and targeted opportunities remaining limited, foreign investors will continue to expand the scope of their U.S. real estate investment strategies by both asset type and location, including moves into selected non-primary markets.

What about rates of rent growth in 2018?

This statistic presents a forecast of multifamily rent growth in the United States from the second quarter of 2017 to the fourth quarter of 2018. It was expected that the multifamily rent growth would amount to 6.2 percent in the fourth quarter of 2018 in the United States. Multifamily real estate refers to a housing structure where multiple apartments are contained within one housing unit, or when several buildings form a larger complex. In the United States, 397 thousand multifamily houses were started in 2015. An average size of such a housing unit was 1,074 square feet in that year.

As outlined above it looks like a healthy rental growth across the quarters in 2018.

I definilty say that the rental growth depends on so many other factors and the forces behind the demand in local markets.

Overall, I see a bright future for multifamily Investing in 2018 and beyond!

Resources: 2017–2018 Forecast: Class B and C Apartments Will Rule JLL: Foreign CRE Investment Remains Strong U.S. real estate remains top draw for foreign investors Growing demand and tight supply are lifting home prices and rents Vinney Chopra is the Founder and CEO of Moneil Investment Group and President of Ideal Investments Group. His latest accomplishments include acquiring 12 multifamily assets in the last 28 months, worth $132 million. His last two syndications were sold out in just a few hours, and one in 36 hours raising $4.7 million and another one $6 million in eight hours. Between the two syndication companies he founded, Vinney’s team is controlling over $200 million worth of assets. He is a mechanical engineer. After entering USA with $7, he graduated from The George Washington University with Master’s in Business Administration in Marketing, he shifted his focus to marketing and motivation. He was a professional fundraising consultant and motivational speaker for more than 35 years with a wonderful private company. Vinney and his wife started their real estate investments in 1983. He currently owns single-family homes and multifamily units in Texas, California, Atlanta, Arizona and India. Many times, people call him “Mr. Enthusiasm” or “Mr. Smiles.” He likes to bring great value to everyone he comes in touch with.

•

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Rental Housing Journal Metro

F

7 Tech Gadgets for a Safer and Efficient Rental Property

or this reason, several of those gadgets can be a great investment for property managers and landlords, as they provide cutting-edge ways to improve property management and make properties more appealing to tenants who value safety and efficiency.

packages located outside. It is possible to receive captured footage in real time by pairing the doorbell to a smartphone.

No. 5 - Smart personal and space cameras

These are revolutionizing video surveillance by making it accessible, easy and user-friendly.

Those small, stand-alone cameras do not require complicated set-up procedures and can be easily paired with mobile devices to allow for remote control and monitoring. It is important to keep in mind that it is always adequate to inform and consult tenants about whether they feel comfortable with video surveillance.

No. 1 - Smart thermostats

Optimize energy savings by closely tailoring heating and cooling to a resident’s needs, switching to energysaving modes when spaces are not being utilized.

Most brands offer programmable thermostats for customizable temperature presets that can be remote-controlled from mobile devices, allowing for ultimate and direct control over efficient heating and cooling.

Some have integrated sensor systems that can even ‘learn’ to self-adapt to the most efficient temperature based on detected room activity.

No.2 - Smart smoke alarms

Smart smoke alarm are now able to differentiate between types of fires by detecting different types of particles and volatiles, making them the most efficient tools of their kind for danger recognition.

Smart alarms can be connected to mobile devices to receive immediate alerts regarding the location and kind of danger

12

No. 6 - Leakage detectors

detected and to allow remote silencing.

No. 3 - Smart home locks

Smart home locks use Bluetooth technology to allow monitoring of main entryways.

Usually consisting of a practical pin pad, those can operate by utilizing numerical combinations as pass-keys that can be changed as needed, maximizing safety and making it unnecessary to worry about lock-picking or lock-related mechanical issues.

By connecting smart locks to mobile devices it is possible to receive immediate alerts when doors are locked and unlocked.

No. 4 - Smart doorbells

Smart doorbells are equipped with motion sensors that make it possible for an integrated micro camera to capture live video footage following detected movements on porches and entryways.

This can be a very useful tool for protecting personal property and

These can be paired to mobile devices to receive an immediate alert when their integrated cables detect a leak, which can be a valuable asset when it comes to protecting property from water damages.

No. 7 - Smart stove top knobs

These are designed to attach to existing knobs to turn off stoves automatically and prevent dangerous fires and gas leaks.

The sensor that comes with the knobs detects smoke and gas to then alert the knob system to shut accordingly •

Rental Housing Journal Metro · January 2018

Rental Housing Journal Metro 7 Reasons ..continued from page 9

Dear Maintenance Men: Courtyard Design, Disaster Preperation and Kitchen Remodel

D

ear Maintenance Men: I want to create a seating and relaxing area in the middle of my building’s courtyard. My thoughts are to use decomposed granite and eliminate the current grass area. How do go about installing the surface without making a mess or a future headache for myself.

Bryan Dear Bryan: Decomposed granite or DG for short is a great way to add a durable, natural and water wise surface. A few things you need to know before you get started.

The key word in DG is “Decomposed”. In other words, this granite is decomposing.

There are three options: raw DG for flower beds, stabilized DG for walkways and resin-coated DG for driveways. For your purpose you need to use a stabilized DG for walkways. It has a binder mixed into the DG. Non-stabilized DG is much cheaper, but will of course decompose, create dust when dry and slush when wet. To properly install DG, dig down three inches overall and use a wood, rock or brick border to keep the edges of

the DG from crumbling. As an option, lay down a weed barrier cloth under the DG. Apply DG in one and a half inch layers, water down (don’t flood) and tamp or use a heavy roller to compress the DG. Wait eight hours between layers to let the DG settle. Repeat the above for each subsequent layer. When installed properly, the DG surface will be rock

hard, stable, dust free and will allow water to drain.

Dear Maintenance men: I am aware of having a disaster preparedness kit for my family, however, what do I do for my apartment building?

Jason

Dear Jason: A quick list of what should be in your family disaster preparedness kit: Flashlight with batteries, canned goods, a Gallon of water per person, a knife, Meds and blankets at minimum. Now this works ok for a family, but may not be appropriate for an apartment building.

The residents may very well shelter in place during a disaster and be fine. What may be in danger is your property! Start with a bit of preventive disaster maintenance.

1. Locate the main water shut-off valve and any minor shut-off valves. Make sure the valves are in working order. If they are gate valves, it might be time to upgrade them to ball valves. Old gate valves are notorious for breaking valve stems at the moment you need them to work.

2. Locate and clearly mark the main electrical panel.

3. Locate and mark the main sewer clean-out. Run a mainline snake or hydro jet at least once a year. (A Friday evening main back-up is a

...continued on page 18

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Rental Housing Journal Metro

Single-Family vs. Multifamily ...continued from 10 in my opinion is doing syndicationspooling money together in accordance with the SEC (Security and Exchange Commission) rules and regulations.

There are many indications that multifamily apartment investments will continue to be great as you evaluate whether single-family or multifamily real estate investing is best: • 75 million Baby Boomers are headed into retirement.

• Many of today’s apartment complexes may be converted to retirement communities in the future; the baby boomers are also downsizing.

• Many millennials aren’t buying homes.

• It’s getting more expensive to build new apartment units.

rather than im multiple.

7 more advantages of multifamily over single-family real estate investing

There are lot more than 3 advantages of multifamily vs. single-family investing.

It is why I chose multifamily and I encourage Investors to go this route if they can as it just makes all the sense in the world.

• No. 1 - Scalability is much easier in multifamily. Rather than purchasing individual properties and slowly growing your business one transaction at a time, in multifamily, you are purchasing 20 units or 100 units in one transaction.

• No. 2 - Forcing appreciation in multifamily is easier compared to single-family. You can give your apartment building (or even a 4-plex or 8-plex) more curb appeal.

Fix things in the property that make it more appealing as a living space for tenants, such as adding a media center, a dog park or a nicer laundry room. These improvements can be done in larger multifamily complexes such as 70 units or more.

You will push up the value of the property exponentially. You will attract tenants to your building vs. another landlord’s building.

That’s what you want. Plus, you’re creating steadier cash flow, because your tenants will want to stay.

• No.3 - More income in multifamily.

We call these as Bill back Utilities or (RUBS). The residents are billed for a portion of the water, trash,

14

Summary:

•

sewer and pest control charges out of the total master bill that the owner receives. This way along with paying the monthly rents the residents pay a flat fee or a proportional amount each month for these services. Most of the multifamily properties are individually metered for electricity and each resident pays that separately by themselves.

No. 4 - Great tax breaks. There are great tax breaks that come with investing in multifamily. When you provide housing it’s a good thing. The government thinks so, too. The city in which the property is located likes the idea, because

you are helping the residents of that city by providing clean, safe, affordable housing to people who might not otherwise find it. As a result, you can gain all sorts of tax incentives.

• No. 5 - You can depreciate. I really like this, you can depreciate some parts of the apartments on an accelerated depreciation schedule.

It’s great to employ a CPA company that specializes in this field. The savings are huge!

• No. 6- Multifamily properties hold their value. Once the property is rehabbed, and you’ve made it attractive to tenants, it will also attract other investors who will be interested in buying the property later if you want to sell. You’ve put in place everything required to attract and retain tenants. That means steady cash flow, which is appealing to investors.

• No. 7 - Investing in multifamily allows you to change lives. We provide great places for the residents to live in, we provide jobs for so many staff members at the property along with many vendors.

Most importantly through syndications, we help a lot of Investors, who are doing well in their profession but don’t have the time to invest.

You can tell that I really am very bullish on investing in multifamily as compared to single- family. I sincerely hope that after reading this article, you will also look into diversifying and start investing in multifamily. The best game

Single-family vs multifamily real estate investing is a question faced by many investors. I hope this discussion has helped you decide which course is best for your real estate investing future.

Vinney Chopra is the Founder and CEO of Moneil Investment Group and President of Ideal Investments Group. His latest accomplishments include acquiring 12 multifamily assets in the last 28 months, worth $132 million. His last two syndications were sold out in just a few hours, and one in 36 hours raising $4.7 million and another one $6 million in eight hours. Between the two syndication companies he founded, Vinney’s team is controlling over $200 million worth of assets.

He is a mechanical engineer. After entering USA with $7, he graduated from The George Washington University with Master’s in Business Administration in Marketing, he shifted his focus to marketing and motivation. He was a professional fundraising consultant and motivational speaker for more than 35 years with a wonderful private company.

Vinney and his wife started their real estate investments in 1983. Many times, people call him “Mr. Enthusiasm” or “Mr. Smiles.” He likes to bring great value to everyone he comes in touch with. He likes to add value to everyone around him.

•

Rental Housing Journal Metro · January 2018

Rental Housing Journal Metro

F

5 Maintenance Tips for LongLasting Rental Carpet Flooring

looring in rental properties is

It is fundamental to inform tenants about the risks of letting stains dry on carpet fibers, which usually results in permanent staining and visible marks.

Utilizing an effective and carpetfriendly detergent and blot cleaning right away is the most effective approach to avoid permanent stains.

Consult a trusted professional carpet cleaner about ideal detergents and make the recommended product available to tenants.

always a challenge, especially getting your rental carpet flooring to last longer. The maintenance checkup this week provided

by Keepe focuses on ways to make your carpet last longer and be sure you are protecting your investment and income as well as keeping your tenants happy.

Rental carpet flooring can be one of the most high-maintenance parts of a property: signs of wear and tear as well as stains and dirt are most visible on carpet.

Poor carpet care is easy to spot and tough on the eyes, which can make an otherwise appealing space loose its value. Improving poor carpet conditions generally means needing a complete replacement, which can be a lengthy and costly project. The tips below outline more affordable and effective ways to protect carpet floorings and preserve their longevity.

No. 1 - Consider stricter pet policies

Carpet is not a pet-friendly surface. It absorbs odor, and can easily hold onto hair and stains. Indoor ‘accidents’ can take an unpleasant turn, and their odor can linger long after cleanup is attempted.

The best way to ensure carpet flooring can be adequately repaired and cared for on the long run is to set a higher security deposit for pet-friendly properties, which

No. 5 - Invest in area-appropriate flooring

can then be utilized to repair carpet damage as needed.

Always make sure to thoroughly communicate with your tenant what kind of responsible pet care is expected for animals to continue living in the property.

No. 2 - Schedule a deep-cleaning service once a year for rental carpet flooring

Most carpet manufacturers recommend having a yearly professional deep-cleaning as a way to prolong the life of carpets.

It is best to steer clear of providers who

utilize harsh chemicals, which can be harsh on carpet fibers and might lead to discoloration.

No. 3 - Include hard-surface areas

Constructing a hard-surface area to act as a “barrier” against the dirt and debris brought in from outside can be extremely helpful when it comes to protecting carpet from direct exposure.

A small tile or vinyl landing can be easily added in front of main entryways, and tenants should be encouraged to utilize floor mats to wipe their shoes on.

Carpet performs best and lasts longest in low-traffic areas, away from outside debris, food, moisture and pet exposure.

It is ideal to remove carpet from kitchens and dining areas, opting for vinyl, tile and laminate options instead.

This will avoid the high risk of food stains and spills while improving the look of the property.

Keepe is an on-demand maintenance solution for property managers and independent landlords.

Keepe provides a network of trusted independent contractors and handymen who are available for maintenance projects in the Greater Seattle Area, Greater Phoenix area, San Francisco Bay area, and soon to an area near you.

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Rental Housing Journal Metro · January 2018

15

Rental Housing Journal Metro

No Pot ...continued from 9 marijuana is legal and they should be allowed to use it?

Answer: “If your lease prohibits smoking and prohibits use of illegal drugs, then the legality of marijuana at the state level is irrelevant because under federal law marijuana is illegal. If your lease does not have those types of clauses, you should talk to an attorney in your state or city to find the best solution for your lease.”

There is no law about reasonable accommodation for marijuana users, federal laws do not require it. As far as the federal government is concerned it is not ok.

“One thing I would say, and it is important, I would encourage landlords just to make everything clear,” in the leases, he said. “Clarify in a lease that you must abide by all laws state and federal.”

That is the case in residential. He said it can be different in commercial. (There was a commercial case in Oakland, California and you can read more about it here.)

“But In residential it is not as tricky, and I am speaking very generally here,” Sachter said. “The states may have their own thing going on with legal marijuana laws, but it is still federally illegal. Make it crystal clear in your leases is my best advice,” he said. “How can you attract tenants in a state where it is legal yet protect the owners of the property? You cannot have it both ways.”

“I know in Seattle there are Airbnb bed and breakfasts that specifically market themselves accordingly, as part

of marijuana tourism to come and stay in our place where it is legal.” But if a property manager doesn’t want that going on, then they have to be up front in the lease.

“If your tenant is Airbnbing to a tenant who is then using marijuana – well if you can’t catch them you cannot do anything about it. You have to prove they are doing this. They are going to be using marijuana regardless of what the lease says.”

No. 3 - What if the tenant using marijuana is a well-paying, good tenant?

“Landlords can certainly put a nowaiver clause in the lease. If I say, ‘Here is a list of prohibited things’ and if you do these prohibited things in the lease, you are subject to eviction,” he said.

“However, any time I waive any of these things does not constitute an overall waiver. It basically means you should not ever do it again,” he said. “Just because you get away with it once, does not mean you get away with it every time,” Sachter said.

Can I say no pot in my apartments Photo by Raihan Rana via creative commons

No. 4 - Can I say 'no pot in my apartment?"

“Usually if you say, ‘No pot in my apartment’ and you find a tenant using marijuana and you haul them into court, more than likely the judge is going to say, ‘Have you stopped?’ to the tenant and ‘Are you going to do it again?’ and the tenant

is going to say ‘No.” And then judge will say, ‘Ok, dismissed.”

To put a more legalistic term on it, usually a court will be in favor of “allowing the tenant to cure the defect,” rather than evict for most things like that, Sachter said.

Technically, in Washington, a landlord would serve a 10-Day notice to comply or vacate with the terms of the lease. This process, therefore, gives the tenant a chance to “cure” the violation before the landlord can evict. Check your local state laws on this.

What one experienced property manager says about pot

Sam Driver, Product Director for Buildium.com, and an experienced property manager at the property management software company, said as far as marijuana use in apartments, due to the newness of the legislation, the federal laws that supersede state and county laws, and liability concerns, it is not a topic that comes up a lot - yet.

“Generally, the safest solution is to choose the most conservative pathimpose a no-smoking policy, which can in some cased cover outside areas, and a crime provision that includes local, state and federal laws. In many states, there are setbacks from doors, and it is particularly important if the building is a place of work which a multi-unit apartment building certainly is. So your lease should contain a provision explicitly banning smoking and illegal activity. Because the feds still outlaw it, this should be sufficient,” Driver

said.

“This of course only covers the smoking angle. If a resident consumes it in another way, you'd likely never know,” he said.

Growing marijuana could put a power load on your apartments

“As for growing, that's less clear. But in general, unless the electrical system is designed for it, the loads grow lights put on the apartment unit could be excessive.

I'd consider a reasonable use clause that specifies all high load equipment, including lights, air conditioners and any kind of pump be approved by you.

“This would put you in a position to take action if they are putting too much load, without specifically calling out the use of the equipment. Pumps are a good area for monitoring, because of the intermittent load, they trip breakers, and anyone who is using a hydroponic system would need several,” Driver said.

What if I want to market my apartment to marijuana users?

“If, however, you wanted to roll the dice and market to this crowd, assuming your state laws allow it, remember that the federal laws would cover any bank deposits from proceeds," Driver said.

“In this case, you'd be able to do it, assuming no federal intervention, in compliance with local laws. No insurer would provide EO&E (errors and omissions excepted) insurance to you, and you wouldn't be able to deposit any funds into a federally-accredited bank.

So you'd have to self-insure, and run an entirely cash business, but you could do it,

Helping apartment owners

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Rental Housing Journal Metro · January 2018

Rental Housing Journal Metro

No Pot ...continued from 16 risking only federal enforcement.

“The big question is, 'Would the premium rents be worth the risk of forfeiture?' If you run afoul of the federal drug laws, the asset seizure possibility is a huge risk. You could lose the building.

“If you're managing other owners' properties, then you'd be risking their assets even if you used different leases, unless you kept fully separate books, bank accounts, and co-mingled nothing.

So I'd say it would be all-or-nothing," he said.

“The timing is tricky, too. Leases contain a provision that stipulates that the contract is in force in a specific jurisdiction. If they change the laws rendering your lease out of compliance, what happens during the remaining time of the lease? Is it invalidated? Or does the contract remain in force until it expires?

“Good questions for your lawyer,” Driver said.

How to keep up with status of pot laws in the different states ProCon.org,

a

501(c)(3)

nonprofit

nonpartisan public charity, provides professionally-researched pro, con, and related information on more than 50 controversial issues from gun control and death penalty to illegal immigration and marijuana laws across the country. "Using the fair, FREE, and unbiased resources at ProCon.org, millions of people each year learn new facts, think critically about both sides of important issues, and strengthen their minds and opinions," according to the company's website.

Here are where the pot laws stand for medical and recreational marijuana in several states, how it was passed, and what is permissible in the possession limit, according to procon.org. You can see their excellent full chart here state by state. Keep this link as they update the ever-changing pot laws in the different states.

Here are what some some states are doing with links to more information on each state's pot laws.

Oregon: Ballot measure 67, 24 oz usable; 24 plants, 6 matures and 12 immature

Washington: 8 ounces usable, 6 plants Arizona: medical marijuana is legal 2.5 ounces usable, 12 plants Colorado: 2 ounces useable, 6 plants, 3 mature, 3 immature Utah: prohibited with a few narrow exceptions As a Presidential Scholarship recipient, Bret received his law degree from the Seattle University School of Law. In addition to his law degree, Bret holds a bachelor’s degree in evolutionary psychology and master’s degree in psychology. Bret has taken an interest in tracking the progression and transformation of marijuana laws, as they are among the most recent and highest-profile legal issues affecting entrepreneurs in Washington and, increasingly, all around the country. You can call him at 206-295-2547

•

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Rental Housing Journal Metro · January 2018

17

Rental Housing Journal Metro

Discrimination .

Dear Maintenance ...continued from 13 disaster.)

4. Locate and mark the main gas or fuel oil shut-off valve.

5. Write down and post this information in a public area of your apartment building, including emergency phone numbers and how to get hold of management.

Alternatively; Post this information on the inside of a kitchen cabinet door in each rental unit.

Dear Maintenance Men: I am starting my planning for a major kitchen cabinet remodeling project in my rental units. However, I am having a difficult time making material and design decisions. What recommendations can you give?

Allen.

Dear Allen, When doing a kitchen or bath material

selection, cohesive and functional design is important. Kitchen and bath rehabs are some of the most expensive work you can do in an apartment unit and proper planning is a must. In order to appeal to a larger segment of the population, try to keep the interior color scheme to neutral earth tones. Cabinetry quality varies greatly. Don’t let the cabinet fronts fool you. Manufactures designed their cabinets to look good at first glance. Keep in mind, being in a rental environment, the cabinets also need to hold up to abuse.

Look at the actual construction of the cabinet box or frame. Keep in mind; you do not need to use custom cabinets to fit your existing layout. The use of prefabricated modular cabinetry can greatly reduce the time and cost to have a finished kitchen or bathroom. Using real wood cabinet fronts with 3/8” plywood sides is essential for durability. The drawer fronts and sides should be connected with a dovetail or other positive lock construction. Drawers that are held together by nails or cabinets

built with particle board will not hold up to tenant abuse.

On a side note; if you are gutting the kitchen or bathroom, use this time to relocate and add more electrical outlets and under cabinet lighting.

If you need maintenance work or consultation for your building or project, please feel free to contact us. Jerry L'Ecuyer is a licensed contractor & real estate broker. He is currently on the Board of Directors and 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. Frank can be reached at (714) 956-8371 Frankie@BuffaloMaintenance.com For more info please go to: www.BuffaloMaintenance.com •

Tenant Screening 4 Less...

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..continued from 8

“Skateboarding is prohibited on community property.”

You may require direct adult supervision during children’s use of community provided services and facilities. However, the rules must not unreasonably restrict a child from using the amenities.

Don’t prohibit children from using amenities

Avoid rules such as: “Children under the age of 14 are prohibited.”

Instead, say: “Persons under the age of 14 must be accompanied by an adult.”

Familial status was added as a protected class in 1988 with the signing of the Fair Housing Amendments Act. This act made housing discrimination against families with children illegal and protects not only married couples with children, but also those who are single parents, legal guardians, mothers who are expecting, and people in the process of obtaining legal custody of a child.

Take time to review this important area of the law with employees so that families with children feel both safe and welcome in your community.

Ellen Clark is the Director of Assessment at Grace Hill. Her work has spanned the entire learner lifecycle, from elementary school through professional education. She spent over 10 years working with K12 Inc.’s network of online charter schools - measuring learning, developing learning improvement plans using evidence-based strategies, and conducting learning studies. Later, at Kaplan Inc., she worked in the vocational education and job training divisions, improving online, blended and faceto-face training programs, and working directly with business leadership and trainers to improve learner outcomes and job performance. Ellen lives and works in Maryland, where she was born and raised.

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Rental Housing Journal Metro

Best Cities...continued from 1 rates are going to rise this year, and 2018 is shaping up to be particularly precarious.

But that doesn’t mean that Brookfield or any of the world’s other leading realestate investors are going to be sitting on the sidelines this year. Rather, they are pursuing an unusually eclectic assortment of strategies spanning a wide range of geographies and asset classes.

Start with emerging markets where you see job growth and a favorable local government environment that encourages business development. As big cities see more new high-priced apartments coming on board in 2018, those rents will likely stop rising.

“Rents themselves are still lower in the suburbs, but if demand keeps growing for suburban rentals and supply continues to lag, that will also start to change,” Zillow Chief Economist Dr. Svenja Gudell said in a release.

“As more formerly urban renters move to the suburbs in coming years, we'll likely start seeing more apartment buildings and walkable amenities popping up in those communities," Gudell said.

As many of you know my companies have been investing in emerging markets in Texas and Georgia for the last 10 years.

Emerging markets consists of: Job growth Trending rental increases Absorption of supply Fewer permits issued for new construction New business moving in the path of progress for that local segment of the

metro area We research to find these great main markets to invest in multifamily across the nation.

A number of these apartment main markets and submarkets are emerging We feel that one should do even deeper research before investing.

One hint, I can give you is to look for the operating memorandums of the properties already on sale.

In the front or back of this beautiful information brochure, usually are five to 10 pages filled with great economic data and news about the area.

Brokers include that so Investors all across the world will know why investors should purchase that multifamily asset.

You can take the sources of the economic news and growth of jobs articles and even do more research from those sites or publications. This just saves a lot of time.

Rents Stay Flat In Large Cities As MidSized Cities See Growth Increases in national rents have flattened for the last four months and observers are witnessing the slowest annual growth rate in six years, according to a new report from Rent Café.

The rental market is cooling down, with a 2.2 percent year-over-year increase, with the national rent reported at $1,354 in fall of 2017, according to Yardi Marix.

"The housing market follows a cyclical path. The fact that the prime summer seasonality did not cause significant rental growth is the latest signal that the market may be cooling,” Doug Ressler,

Rental Housing Journal Metro · January 2018

senior analyst at Yardi Matrix, a sister division of RENTCafé, said in a release.

“However, these changes will be felt gradually, first in the largest and most expensive cities, followed by mid-sized markets, and eventually trickling down to smaller towns." Ressler said.

Bullish on Texas and Georgia to invest in apartment buildings for 2018 I am quite bullish on Texas. Houston, San Antonio and even some parts of Dallas, even though it’s very heated market.

The other state I am bullish on is Georgia, especially Atlanta and vicinity.

The third market for great growth in my research is North Carolina and South Carolina.

In my thinking there are other markets worth looking at the growth potential that could be equally good to invest in: Cincinnati and Columbus, Ohio, Nashville, Tennessee, Birmingham, Alabama and St. Louis, Missouri.

Some of you may say, “Vinney, what about Salt Lake City, and some cities in Arizona?”

Please do your research and then decide.

I can definitely say study the numbers from your stringent underwriting and don’t fudge or manipulate to make the opportunity work.

Do extensive studying about the local market before you invest in apartment buildings in 2018.

But one thing is for sure, multifamily

investing is the real game in town.

Jump into it as quickly as you can. Better yet, there is so much money flowing all around you, that you may want to harness that through a syndication process like I have been successfully doing for the last 11 years with my teams. You can enjoy the bigger fruits of cash flow and equity gains for your valued investors and yourself.

Happy Investing.

Vinney Chopra is the Founder and CEO of Moneil Investment Group and President of Ideal Investments Group. His latest accomplishments include acquiring 12 multifamily assets in the last 28 months, worth $132 million. His last two syndications were sold out in just a few hours, and one in 36 hours raising $4.7 million and another one $6 million in eight hours. Between the two syndication companies he founded, Vinney’s team is controlling over $200 million worth of assets.

He is a mechanical engineer. After entering USA with $7, he graduated from The George Washington University with Master’s in Business Administration in Marketing, he shifted his focus to marketing and motivation. He was a professional fundraising consultant and motivational speaker for more than 35 years with a wonderful private company.

Vinney and his wife started their real estate investments in 1983. Many times, people call him “Mr. Enthusiasm” or “Mr. Smiles.” He likes to bring great value to everyone he comes in touch with. He likes to add value to everyone around him. You can also reach him at vinney@vinneychopra.com

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Rental Housing Journal Metro · January 2018