Professional Publishing, Inc www.TheLandlordTimes.com
METRO
PORTLAND & VANCOUVER
Vol. 17 Issue 3
Published 17 Years
March 2013
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
Oregon's Fourth Quarter 2012 Insight Into The Rental Applicant Risk Index Report By Jay Harris, Vice President of Business Services, CoreLogic SafeRent The CoreLogic® SafeRent® Renter Applicant Risk (RAR) Index Report, formerly known as the Multifamily Applicant Risk (MAR) Index Report, provides market-based benchmarks for evaluating credit quality and risk of default for renters applying for apartment homes in multifamily housing units. The index also includes data from single-family rentals. Using a mean of 100, an index value above 100 indicates decreased risk, and a value below 100 indicates increased risk. According to the data, the risk of default among renters nationwide decreased year over year in the fourth quarter of 2012 with an index value of 103 compared to the fourth quarter of 2011 with an index value of 101. On a quarter-over-quarter basis,
Portland Apartment Market (20072012) - An Abridged History Landlords should have cause to feel better as we enter 2013 due to stronger than expected rental market and an (albeit slowly) improving economy that brings more tenants demanding units. The difference is night and day from 5 years ago when you’d post For Rent ads on Craigslist and they would languish for want of attention. Now you should not have a problem getting good tenants and (assuming you keep ahead of bills) you are taking in more money than before. Here is a summary of total sales and cost per unit for the last 5 years in the 4 county market (Clark, Clackamas, Multnomah and Continued on page 5 Page 2
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6 Questions with Katie Poole-Hussa The Landlord Times recently caught up with Portland Oregon based property manager, landlord educator and Smart Property Management partner Katie Poole-Hussa. See what she has to say about motivation, inspiration and fundamentals in her life as a property management professionals. The Landlord Times: What’s your story? What is your background and how did you get into the property management industry? Katie Poole-Hussa: I had been a receptionist in the lumber industry for 6 years., and was attending colProfessional Publishing, Inc PO Box 30327 Portland, OR 972943327
lege classes, as I was able, in an attempt to discover what I wanted to be when I grew up. Through the mandatory “Career And Life Planning” class that the college required of me, I was forced to explore my professional strengths & weaknesses. Test, after test, after test repeatedly concluded that property management was where I was supposed to be. So, I listened. Right away I haphazardly submitted my two weeks notice, applied to every property management company that was hiring in the area, and crossed my fingers that the phone would ring. Thankfully it did. The local rental housing association president, and instructor of the property management certification program quickly hired me. What luck! I currently
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am a licensed property manager in the state of Oregon, an eviction specialist in the Portland area, and a continuing education provider for other licensees. I feel very appreciative that I discovered my niche so early on in life. I made the leap of faith seven years ago and I’ve never looked back. TLT: What is it about this industry that has kept you motivated and interested? KPH: My motivation to continue managing properties, providing eviction services, and educating other landlords is to help landlords be better landlords. Education is key in this industry. Most often, the mistakes that I see landlords make are simply because they don’t know the laws. Well unfortunately that is not a legally recognized defense. Teaching other property managers and rental owners about laws and common business practices is thrilling to me and I don’t see an end to it anytime soon. As landlords, we must realize that we’re in an ever changing indusContinued on page 11
PRESIDENT'S MESSAGE Page 6
PRESIDENT'S MESSAGE Page 10 Chapter 29 Institute of Real Estate Management
BECOME AN IREM MEMBER Page 14
Clark County Rental Association
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