The Landlord TImes Metro July 2013

Page 1

METRO

Published 17 Years

Professional Publishing, Inc

www.TheLandlordTimes.com

PORTLAND & VANCOUVER

July 2013

Get Social With The Landlord Times

MONTHLY CIRCULATION TO MORE THAN 20,000 IN PORTLAND/VANCOUVER APARTMENT OWNERS, PROPERTY MANAGERS, ON-SITE & MAINTENANCE PERSONNEL Published in association with: METRO Multifamily Housing Association; Rental Housing Association of Oregon; IREM & Clark County Rental Association

National Rent Growth Slows for Eighth Consecutive Quarter Axiometrics Inc., the leading provider of apartment data and market research, reports that at the national level annual effective rent growth slowed to 3.2% in the second quarter of 2013. For comparison, annual effective rent growth in the second quarter of 2012 measured 4.0%. Further, Axiometrics’ data indicates that the effective rent growth rate has slowed for eight consecutive quarters as many Metropolitan Statistical Areas (MSAs) are decelerating from very strong growth the previous three years. Peak annual rent growth at the national level during this current cycle was 5.3% in July 2011. Despite the slowdown nationally, many individual markets are still generating very strong rent growth rates, with 20 of the top 88 MSAs reporting annual effective rent Continued on page 9

HUD Awards $3 Million to City of Portland to Address Lead Hazards in 300 Homes Funding to make low-income housing safer and healthier, especially for children The U.S. Department of Housing and Urban Development (HUD) recently announced that the City of Portland is one of 38 local projects nationwide to win a grant to protect children and families from the hazards of lead-based paint and from other home health and safety hazards. The City of Portland will use its $3 million HUD Lead Based Paint Hazard Reduction Demonstration Grant to address lead hazards in 300 homes occupied by low-income families with children. The effort is a partnership with Multnomah County, the Healthy Homes Coalition of Multnomah County, the Professional Publishing, Inc PO Box 30327 Portland, OR 972943327

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Community Energy Project, the Community Alliance of Tenants, the Fair Housing Council of Oregon and Growing Gardens. This is the sixth Lead Hazard Control grant the City has received from HUD. The first was awarded in 1998 and, since then, the City has addressed hazards in just under 1,600 homes. Recently's awards are a part of $98.3 million in funds awarded to 38 projects across the country to clean up lead paint hazards and other health hazards in 6,373 high-risk homes, train workers in lead-safe work practices, and increase public awareness about childhood lead poisoning. Lead is a known toxin that can impair children's development and have effects lasting into adulthood. "Childhood lead poisoning is completely preventable and that's exactly what these funds are designed to do," said HUD Deputy Secretary Maurice Jones. "Portland and the other comContinued on page 7

Rental Housing Managers Can Recycle Electronics for Free! As a rental housing manager you probably get “stuck” occasionally with old PC’s, computer monitors or TVs from former tenants. You may have paid to recycle them in the past or maybe you have dumped them in the trash (hopefully only if it is legal to do so in your area). There is a better option. Recycle them – for free. You can save money and do the right thing by recycling TVs, computers and monitors in Washington and Oregon through state regulated “E-Cycling” programs. The E-Cycle Washington program and the Oregon E-Cycles program provide free recycling for electronics including any abandoned TVs, computers and monitors that rental housing managers may have to deal Continued on page 7 Page 3

PRESIDENT'S MESSAGE Page 6

PRESIDENT'S MESSAGE Page 10 Chapter 29 Institute of Real Estate Management

MOVE ‘EM IN, MOVE ‘EM OUT Page 14

Clark County Rental Association

LIST OF IMPROVING HOUSING MARKETS RISES TO 263 METROS IN JUNE


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