Rental Housing Journal Metro
October 2015
3. Property Managers Help Residents Save Money and Energy
6. 2015 Changes to the Oregon Landlord Tenant Act (SB390
13. Time Management Skills Essential to Balance
4. Ask the Secret Shopper
7. Winter Is Coming, Have A Plan!
17. Giving A Tenant “The Booth”
5. Positivity & Relationships
8. Lead Safety, Testing & Contractors
PORTLAND/VANCOUVER
www.rentalhousingjournal.com • Professional Publishing, Inc
Published in association with: METRO Multi-Family Housing Association; Rental Housing Association of Oregon; IREM & Clark County Association
Prepare Rental Properties For The Winter Season
2Q15 Market Overview Multifamily Housing Update
By Scott Matthews, Director, Strategic Accounts, The Home Depot all is a great time to prepare properties for the colder months ahead, which may help prevent or offset costly repairs and high utility bills caused by harsh winter weather. Before winter hits, take steps to ensure that the property is ready for the elements with this must-have checklist.
F Portland, OR Payroll Job Summary Total Payrolls Annual Change 2015 Forecast 2016 Forecast 2017 Forecast 2018 Forecast Unemployment (NSA)
1,108.0m 33.0m (3.1%) 34.4m (3.2%) 30.1m (2.7%) 26.3m (2.3%) 22.6m (1.9%) 5.8% (July)
2Q15 Payroll Trends And Forecast The Portland economy posted strong results during the second quarter, and July data suggest that the third quarter began with impressive forward momentum. Metro establishments added workers to payrolls at a 33,000-job,3.1% yearon-year rate, up from 1Q15’s 30,800-job, 2.9%performance. Faster expansion among professional and technical business and health care services employers was primarily responsible. The foregoing sub-sectors hired at an 8,900-job, 4.6% annual pace in 2Q, topping the prior quarter’s 6,800-job, 3.5% advance. Preliminary July data also were constructive. Not seasonally adjusted payroll aggregates were up 41,000(3.8%) jobs over the comparable period of 2014. The seasonally-adjusted series posted an 8,500-job sequential month gain, representing the largest month-to-month advance recorded in the 26-year BLS Portland data series. Some recent disappointing unemployment and total employment statistics notwithstanding, the outlook for the Portland labor market ...continued on page 10 Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007
1. Stock up. Property managers – especially those handling procurement – should prepare for colder months by purchasing winter products, such as salt and ice melt, in bulk before the season changes. Buying in bulk not only saves time and money but also gives property managers peace of mind as they look ahead to potential extreme weather. 2. Seal gaps. Thoroughly examine roofs, siding, doors and window frames for damage and drafts. Repair damages immediately and seal around doors and windows with caulking, weather stripping, or a door sweep to help
keep warm air in and cold air out. As a best practice, ensure exterior seals are strong where building materials meet, like where siding stops and brick begins. Encourage tenants to notify of any drafts or noticeable gaps in their units to prevent soaring utility bills. 3. Protect pipes. Install heat cables and pipe insulation to prevent freezing pipes as temperatures drop – especially for pipes exposed to outside air or on exterior walls. Remind tenants to
let faucets drip overnight during extreme cold to keep pipes from bursting and causing water damage. Repairing burst pipes can cost more than $600 – depending on where the pipe is located and the extent of the damage, so take the necessary steps to avoid the additional out-of-pocket cost.
...continued on page 7
5 Lessons For Winter Property Survival
A
s Darwin concluded, “It’s the survival of the fittest.” If we hope to preserve our property over the long term, there are simple truth’s we must accept and actions we must take in order to ensure the viability and value of the physical assets under our stewardship. The simple truth is that as soon as a property is built, it begins the process of dying. It’s a harsh truth, but we have all seen it. With that said, there are some PRSRT STD US Postage PAID Portland, OR Permit #5460
properties that seem to escape the inevitability of decay, waste, and death. So, how do they do it? Are they special in some way? What are those operators doing to extend the life of those properties, or, at least, lessen the effects of time
in order to retain value? These operators understand the following 5 lessons and keep them at the top of their preventative maintenance approach. ...continued on page 9
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