Rental Housing Journal On-Site September 2015 by Professional Publishing, Inc

Rental Housing Journal On-Site

September 2015 – Vol. 9 Issue 9

3. Budgets: Don’t Miss the Opportunities to Evaluate Employees and Vendors 7. Property Mangers Prepare for More Renters and Fewer Vacancies 8. Reasonable Accomodation/ Modification Policies for Market Rate Tenancies

9. Ask the Secret Shopper

14.Seattle Apartment Research Report

11.How To Implement a Smoke-Free Policy - WMFHA

20. Low-Value Homes Leading the Climb Out Negative Equity

13.Renting Less Affordable Than Ever Before, While Mortgages Remain Affordable

24. Dear Maintenance Men

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

Vacancies Drop to 3.8% in Pierce-KitsapThurston

eattle - Apartment Insights 2nd quarter results show vacancies falling from 4.37% to 3.79%. Rents surged 3.3% according to Tom Cain of Apartment Insights. The data are from his Seattle firm’s statistics and trends on 50+ unit properties in Pierce, Kitsap and Thurston counties.

Vacancy: 3.79 % The market vacancy for our nonrandom survey of conventional, stabilized 50+ unit properties in all three counties is 3.79%, down from 4.37% in the first quarter. The vacancy rate was 4.81% a year ago. This is the lowest vacancy rate for the three-county area since we added Pierce in 2007 and Kitsap and Thurston in 2009. The rate for all properties including those in lease-up is 4.38%, an improvement from last quarter’s 5.04%.

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continued on page 5

Creating an Annual Operating Budget for Your Multifamily Property property whether you manage it yourself or if a professional third party management company manages it for you. Important: Do not prepare an annual operating budget for your multifamily property or apartment building and then file it away and ignore it. This article will give you some great ideas for using a budget to your advantage. by Theresa Bradley-Banta A multifamily real estate annual operating budget allows you to compare the actual financial performance of your property to your long-range projections for future income and expenses. It’s important to prepare an annual income and expense forecast for your

Benefits of Creating an Annual Multifamily Investment Property Budget A budget allows you to establish or identify: • Performance targets.

• Income and expense projections based on market drivers and assumptions. • Capital improvements planning and projections. • Problems that need to be resolved. Importantly, a budget can help you maximize profitability and avoid unforeseen major repairs and expenses.

Third Party Property Manager Performance Baseline The best use of a property budget is to track how your manager is performing.

• A baseline for property management reviews.

continued on page 6

Budgeting and the Beginner’s Mind By John Wilhoit Jr.

The over-simplified budgeting process: take last year’s budget, compare it with actual, split the differences and add 3% to revenue categories and 2% to expense categories. Done. Next! So much for thoughtfulness, professionalism or being connected to reality. Budgeting can be a “value add” proposition, assistteve Jobs had an affinity for Zen. ed by the beginners mind perspective. One of the concepts he deployed in In Any Circumstance there are Many business from this perspective was Possibilities “the beginners mind”. In its most basic Annual budgeting must take into form “the beginners mind” allows us to account the realities of each asset; the believe that in any circumstance there are physical asset and its market. A picture many possibilities. Interesting. Can we perfect asset with 300 newly built units apply this to the annual budgeting pro- across the street in a market with slow cess for our assets? absorption has to factor in the impact

of the new competition. These factors should be reflected in the budget. Tony Golsby-Smith wrote a blog for Harvard Business Review entitled “Is Your Budgeting Process Killing Your Strategy” (http://blogs.hbr.org/ cs/2011/01/is_your_budgeting _process_kill.html). This thought shines an entirely different light on the budgeting process. While it is important to work through the minutia of asset-specific budgeting, this process must also take into account effects on the larger organization. How do we accomplish this? With

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Rental Housing Journal On-Site 路 Month 2015

Rental Housing Journal On-Site

Budgets

Budgeting and the Beginner’s Mind ...continued from page 1 the beginners mind; by believing that in any circumstance there are many possibilities. Static number crunching that entails moving last year’s actuals into next years column precludes original thought. The originality necessary in this process is taking current market dynamics into consideration during the budgeting process. This view may require utilizing additional facets of your existing “suites” soft ware, or re-deploying marketing savings into customer premiums to gain retention. Or, taking savings from utility usage reductions and deploying these dollars into staff training with measurable results. Consider the annual budgeting pro-

cess as more than a perfunctory, number crunching, exercise. There is more to this than making assumptions and passing them up the food chain. Thinking of budgeting as a “value add” process makes the entire endeavor much more exciting, and potentially profitable. Published with permission by MultifamilyInsight.com

Rental Housing Journal On-Site · Month 2015

Don’t Miss Opportunities To Evaluate Employees and Vendors

udget season is right around the corner. It’s that excruciatingly tedious time full of spreadsheets and brain cramps, take-out meals and extra pots of coffee, or glasses of wine, in some cases. Managers know budgets are critical to a successful business, but they are often difficult and can sometimes feel like a 1000 piece puzzle that’s missing a few pieces and has a few pieces from other puzzles mixed in. Often, we end up rushing at the end and relying a little too

much on the budget and results from the previous year and can miss some other important opportunities to fine tune our business success pushing into a new year. Two such often over looked, or at least somewhat under appreciated opportunities are taking closer examinations of our personnel and our vendors. When it comes to budgeting for people, it can be very easy to look at our emcontinued on page 10

Rental Housing Journal On-Site

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Rental Housing Journal On-Site · Month 2015

Rental Housing Journal On-Site

Vacancies Drop ...continued from page 1 Pierce: 3.81% The current vacancy rate in Pierce County improved from 4.51% to 3.81% this quarter. The rate was 5.11% a year ago. The lowest vacancy rate is in the Tacoma North Central submarket at 3.3%, followed closely by Fife and Gig Harbor. Puyallup’s 4.12% is the highest rate. Kitsap: 3.01% The Kitsap market continues to tighten. Its vacancy rate dropped from 3.55% to 3.01%. The vacancy rate was 4.03% a year ago. All four submarkets are clustered around 3%. Silverdale showed the greatest improvement. Thurston: 4.31% The Thurston County vacancy rate is basically unchanged at 4.31%. A year ago it was 4.19%. Tumwater is the strongest submarket where the vacancy rate is just under 4%.

Rents for the three-county area bumped up $31 to $961 per unit and $1.11 per foot. Rents have increased each quarter for more than two years. They increased 6.3% over the past year. Pierce:

$957 per Month $1.11 per Square Foot

Kitsap:

$1,009 per Month $1.18 per Square Foot

Thurston: $917 per Month $1.07 per Square Foot Rents increased $28 in Pierce, $48 in Kitsap and $24 in Thurston. In the past year rents have increased 6.2% in Pierce, 9.9% in Kitsap and 3.5% in Thurston. Rents in the submarkets of Gig Harbor and Poulsbo Bainbridge Island increased nearly 10% this quarter. All the rest of the submarkets were less than a 6% increase.

Rental Incentives Pierce: $3 per Month (0.31%) Kitsap: $1 per Month (0.10%) Thurston: $10 per Month (1.2%) The overall rate for rental incentives for the three-county area is 0.42%. That’s less than half of what it was in the first quarter. Eleven percent of the properties in the three-county area are offering rental incentives, down from 17% last quarter.

New Construction There are 940 units under construction in the three-county area, most of which are in Pierce. There are 1,282 units that have completed the design review process, and another 2,507 units that are in the earlier stages of the construction pipeline. Featured in the photo, the 186-unit Renwood opened recently. It is located in Bonney Lake and is managed be Tarragon Property Services.

Rents: $961 per Unit

Observations

The three-county quarterly performance has been exceptional. The vacancy rate of 3.79% is at the lowest point since we began surveying the individual counties. Rents jumped nearly 3.3% this quarter and 6.3% in the past year. From a supply perspective, the low level of new construction won’t challenge the overall market. 2015 is shaping up to be a very good year. Tom Cain, Apartment Insights 206-632-2220

of the Committee for over 25 years, and has been researching apartment market trends in the Seattle area since 1978. His company surveys the five counties in Central and South Puget Sound. This article highlights survey results that subscribers can access from an online database of all 50u+ properties. Apartment Insights also provides customized rent reports and market reports. HYPERLINK “http:// www.apartmentinsightswa.com/”www. apartmentinsightswa.com 206-632-2220

Tom Cain of Apartment Insights Washington is a member of the nonprofit Central Puget Sound Real Estate Research Committee in charge of providing apartment rent and vacancy data. Tom has been a member

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Rental Housing Journal On-Site · Month 2015

Rental Housing Journal On-Site

Creating an Operational Budget ...continued from page 1 Ask your third party property manager to prepare an annual budget forecast with side-by-side comparisons of actual vs. budgeted income and expenses. This budget then establishes a baseline for your property manager’s performance reviews. It’s a great idea to have regular meetings with your manager to review these comparisons. How are they doing in meeting projections? What can be done to course correct when and if your targets are not being met?

Some of the items to review are: Multifamily Property Income: • Vacancies against leasing projections: Is your manager on target for leasing new units or maintaining the average occupancy rate in your market? • Lease renewal (rollover) projections: These are leases that are due for renewal during the budget period. Make initial contact with residents no later than 60 days prior to lease expiration. If there is not a renewal commitment from your tenant there should be a follow up in 45-days. • Future profit projections from increased revenue: This could include rent increases, laundry revenue increases, the introduction of a utility reimbursement program (tenant pays utilities), etc. Where are you able to increase revenue at your property? • Future revenue projections from new sources: Where can you find previously untapped revenue? Can you charge for amenities such as parking, storage, recycling or business/entertainment centers? Can you install vending machines in your common areas? • Cash flow projections: With accurate cash flow projections you’ll be able to make strategic decisions about the allocation of revenue for improvements. • Replacement reserves: Determine what percentage of gross scheduled income can be put aside for future use. For example, you might want to hold back 5% of all scheduled rev-

enue or you can allocate a certain dollar amount annually per unit in your property.

• Vacancy (7%)

Multifamily Property Expenses: • Projections for lowering current expenses: Are your mechanical systems operating at peak efficiency? You may be able to lower utility bills with systems that operate efficiently. Can you contest your current property tax payment amount?

• Cap Rate (7%)

• Review third-party vendors and service providers: Conduct annual reviews of your property vendors such as services that provide lawn care, cleaning, trash removal and property insurance. Let them know they will be up for annual review for cost and service. Do your service providers have pending increases? • Utilize the know-how of your service providers: Ask your vendors for efficiency/cost saving suggestions (property improvements or services they can provide) and budget accordingly. • Property management: Review all fees such as leasing, maintenance and on-site management (if applicable). Are you satisfied with the performance of your manager? Are their fees as projected? Most multifamily and apartment building management soft ware programs will generate a budget-to-actual income and expense report for comparison. Ask for this report. A budget is nice but you must compare it to the actual property financials.

Investment Property Analysis Assumptions (Drivers) Using the following or similar assumptions, you or your property manager can project all income and expenses over a 12-month period beginning with the current month. You can change these variables at any time. It’s a good idea to run several scenarios using both conservative and aggressive assumptions. The following assumptions are used for example only. You will need to determine your own variables based on your particular investment market.

• Major building systems repair or replacement such as windows, roof, boiler and air conditioning.

• Income Growth (5%) • Expense Growth (3%)

• Individual unit upgrades.

• Expense Ratio (40-45%) These assumptions will help you determine the best and worst case scenarios and will assist you in planning budgets for the long term. You can create 24-month, 36-month or 48-month projections using assumptions. For example, you can predict your property value over the long term at different cap rates and net operating income. This can help you set targets for increasing revenue and lowering expenses. For national averages read or download the National Apartment Association 2015 Survey of Operating Income & Expenses in Rental Apartment Communities at this link.

Investment Property Capital Improvements Planning and Projections In addition to predicting regular, recurring expenses your budget should include projections for major capital improvements. For example, you might want to paint your common areas (halls, stairs, entry, mail room, laundry, etc.) every three years. Planning for long-term improvements allows you to stagger the improvements over time. By doing this you can avoid surprise expenses. These funds are commonly referred to as replacement reserves and include: • Common area improvements such as new paint, lighting, vinyl, carpet, parking lots and driveways.

A Final Note on Your Annual Operating Budget Use your annual operating budget as a tool. Plan to hold quarterly budget reviews with your property manager and/ or your team at the very minimum. An annual budget can drastically maximize your profits when used as designed. Theresa Bradley-Banta is the founder and CEO of Denver, Colorado based Theresa Bradley-Banta Real Estate Consultancy, offering a highly skilled sounding board for the professional commercial real estate investor’s ideas and investment strategies. The company provides education and mentorship for entry to mid-level investors seeking reality-based strategies for buying and owning multifamily properties. Bradley-Banta is the author of the book Invest In Apartment Buildings: Profit Without The Pitfalls. Visit theresabradleybanta.com. Reach her at (303) 733-4400 or theresa@ theresabradleybanta.com

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Rental Housing Journal On-Site · Month 2015

Rental Housing Journal On-Site

Property Managers Prepare for More Renters and Fewer Vacancies

osted on 25. Aug, 2015 by Marc CourtenayIn today’s housing market there are some unmistakable trends that I’ve commented on in recent articles. The number of owner-occupied dwellings is dropping while rental vacancies are vanishing. Put another way, recent data from varying sources—including the Census Bureau—verifies that vacancy rates have fallen to a 30-year low. Residents are finding fewer choices available to rent than at any time since 1985.

At the end of the 2nd quarter of 2015, the vacancy rate plunged to 6.8% while the yearover-year growth in the number of new households jumped from 115 million to over 117 million. No wonder rental housing availabilities are dropping! Some developers call it “The Perfect Storm.” In the aftermath of The Great Recession that began back in 2008, fewer and fewer adults can afford to own a home. Lending qualifications have tightened as well. At the same time, employment numbers took a huge hit. The number of unemployed soared while companies cut back on spending and operating costs. Employment numbers have improved during the last two years, yet the actual wages paid have hardly increased. Wages and benefits paid by U.S. employers this past spring rose at the slowest pace since the second quarter of 1982,

the Labor Department revealed. The employment cost index, which tracks salaries, wages, and benefits gained 0.2% in Q2, compared with a 0.7% gain in Q1. These factors contributed to a slowdown in new construction of multifamily complexes and apartments. While new buildings have begun to be built there’s a lag time before they’re ready to rent. The construction lag helps fuel demand and, subsequently, rental rates will continue to rise for at least the next five years as the Millennial Generation continues to delay entering the homeownership market. “Millennials” as they are often dubbed, mainly refers to the generation of people born between the early 1980s and the early 2000s. Perhaps the most commonly used birth range for this group is 19822004. The Millennials are also known as Generation Y, because it comes after Generation X—those born between the early 1960s and the 1980s. The population of Generation Y is believed to be over 80 million in the U.S. alone. This huge demographic group has been slower to leave home than their parents’ or grandparents’ generations. The economic fiascos of the past 15 years have made it more daunting for Millennials to strike out on their own.

According to a Pew Research Center analysis, a young adult in the 18-to-34-year-old age

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are forming ad hoc task forces to make things happen. As a critically important election year approaches, property managers are also letting political candidates know that landlords, property owners, and residents are deeply concerned. Historically low vacancy rates coupled with a rising number of motivated applicants leads to shortages and rental rate inflation. Consider taking an active role in offering ideas that will benefit all involved. Published courtesy of PropertyManager.com

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Rental Housing Journal On-Site

Reasonable Accommodation/Modification Policies for Market Rate Tenancies By Clifford A. Hockley, President, Bluestone & Hockley Real Estate Services

• Designation of a handicap parking space

the property that they are renting, or will rent. Keep in mind that just because a request has been made, it doesn’t mean the landlord has to say yes. The key word in this process is “reasonable.” Tell the tenant that once the completed reasonable accommodation request is reviewed by the corporate office, the tenant or applicant household will receive a written approval or denial issued from the corporate office. Make sure their current and correct contact information is included in their request and in the property management client database.

• Installation of grab bars in the s the reasonable accommodation bathroom rules under the Fair Housing • Installation of a wheelchair ramp Act* continue to receive national • Installation of a flashing light smoke press and more tenants use the rules to detector for a hearing impaired ask landlords to accommodate their spetenant cial needs, it makes sense for landlords to codify their response to reasonable ac• Accommodation of a service or commodation requests in order to maincompanion animal tain consistency. • Release from a rental agreement To ensure consistency when it comes without a lease break penalty to a property manager’s enforcement If a tenant asks you if they can modify of reasonable accommodation policies, their unit or have an accommodation to we have drafted a set of common sense Procedures a community rule because of their disrules to serve as a guide and adapted by 1. Obtain the request in writing to landlords. Note: The suggested rules disability, your response should be: “We’ll ensure that all parties agree on the cussed below do not apply to low income be happy to consider that. Can you accommodation that has been regovernment delivered or tax credit prop- please submit a request for a reasonable quested and that the documentaerties. Those properties have additional accommodation/modification to help us tion of the request exists for future understand the need better? We have a rules that need to be followed. reference. form to use for your convenience.” Tenants may request changes in hous2. Address the request for reasonable Make sure the tenant provides the ing policies to accommodate disabilities accommodation/modification as name, address, telephone number and Tenants and/or applicants have the VALLEY, METRO, ARIZONA APT. soonNEWS as possible (within five days email address for the third party profesright to request a change in the rules, after receipt to the main business sional who will verify that the applicant/ regulations, practices, or procedures office). A significant delay can be resident is disabled and needs the acof the property they want to live in if viewed as denial. commodation requested. they have a disability and the requested 3. Require verification for all requests change will better enable them to use and NOTE if the need is not visually obvious. You should never ask the tenant what enjoy the property they rent. Common For example, when a resident who their disability is. The tenant’s medical reasonable accommodation requests Feb, Apr, Jun,in-Aug, Oct, Dec uses a wheelchair requests a parkprofessional will indicate if the tenant has clude, but are not limited to: ing spot close to the resident’s front a disability, and if their request would door, the resident’s disability and help them to more fully use and enjoy

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need for accommodation is obvious. This situation does not warrant the need for obtaining verification from a third party. If a similar request is made by a person who does not have an obvious mobility impairment, you may need to request that the resident’s need for accommodation be verified by a third party professional. Create a policy that when the need is not visually obvious you will need to verify with a third party professional. Use a consistent form. 4. All reasonable accommodation/ modification requests will be reviewed and approved or denied by the property/portfolio manager, director of residential services and the upper management team of the property management company. Notification of approval or denial will be provided from the corporate office to the tenant or applicant household in writing within five working days after the request is received by the corporate office.

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Rental Housing Journal On-Site

SK THE SECRET SHOPPER

air Housing compliance is something all property management companies and their clients are concerned about, even as on site leasing staffs are wonder how they can make their prospective renters feel at home, and still comply with the law. Sometimes it does not seem possible for a leasing consultant to make every prospective resident feel like he or she will fit in, without bringing up issues of race, family status, possible disabilities, etc. After all, in order to fully meet the needs of your renters, you must determine what those needs are. It may very well be that what is most important to them is closely connected to their race, family status, disability, etc.

Here’s a question that keeps coming up on this subject: Q: How can I give helpful information on schools if I can’t even ask my prospective renters if they have children? Of course you want to find out if the people you are working with have children, as well as the ages of their children. This will help you provide information about the area schools and community activities that would be of interest to families with kids. However, you may not ask if they have children or their ages, if you learn they do have children. What you can do instead is become a very good listener and give your prospective renters the opportunity to talk about them-

selves. You can also ask questions such as: Do you need any information about the schools in the neighborhood? Would that be elementary, junior high or high school? What about daycare?

Remember You can ask your prospective renters the number of people who will be occupying the apartment. You just can’t ask them for a “breakdown by type.” Here’s another question that I was asked on this same subject: Q How do I answer when I get asked about the kind of people who live in my building? I think they just want to know if they’ll have good neighbors, but sometimes I wonder why they even ask. I think I’ll get into trouble if I say too much. You are right Most people just want to be reassured that they will have quality neighbors. Everyone looking for a new home wants to live near people who are respectful and considerate. Also, everyone is seeking a place where they will feel accepted and appreciated for their differences, as well as their similarities. The best answer to give the next time you get asked: “What kind of people live here?” is something like this: We have wonderful residents of all

ages who are from different backgrounds and all walks of life.

You will fit right in! If you have a question or concern that you would like to see addressed next month or if you would like to inquire about a shopping program and leasing training, please ASK THE SECRET SHOPPER by making contact via e-mail or fax. Your questions, comments and suggestions are ALWAYS welcome!

If you are interested in leasing training or have a question or concern that you would like to see addressed, please reach out to me via e-mail. Otherwise, please contact Jancyn for your employee evaluation needs: www.jancyn.com ASK THE SECRET SHOPPER Provided by: Joyce (Kirby) Bica Former owner of Shoptalk Service Evaluations Consultant to Jancyn Evaluation Shops E-mail: shptalk2@gmail.com Copyright © Joyce (Kirby) Bica

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Budgets: Don’t Miss Opportunities ...continued from page 3 ployees like commodities. For example, we often take a mind set like this: Based on projections, we have budget for 5 sales reps and 3 admins. Or, this complex is big enough for a manager, 4 leasing agents and 5.5 maintenance techs. While this sort of thinking is absolutely part of the equation, each year I like to dig a little deeper and consider the actual humans, their strengths and weaknesses in each position. Maybe Carlos and Tiffany make enough sales calls to adjust their programs to incentivize them to each produce 60% more this year, so you can cut one sale position and save a base salary. Perhaps Erin is better at multitasking than Joe, so she can handle the phones while also doing the account payable and allow him to focus on his sales support duties without distraction. Could this free up Joe for a few hours a week late in the day so he can make cold calls for Carlos & Tiffany? Or, is Joe just in over his head with the sales support regardless, and simply needs to be replaced? I recommend doing employee reviews shortly before budget season. Often, I

find that information gleaned from reviews helps with your staffing budget process. You not only get a sense of what each employee has accomplished since their last review, you can take their temperature on where they see themselves going and what else they might be able to bring to the table in the future. Employee reviews offer a wonderful opportunity to find out what your people think about the current operation of your business and what they feel might work better. We don’t always feel we have the time or patience to hear all employee suggestions or input, but we cannot deny the fact that such feedback can be invaluable. You never know when Erin stepping up to handle the phones, so Joe can focus on sales support will lead to an additional 3 appointments a week for Carlos and Tiffany and a nice increase in revenue while saving you in personnel expenses. The second area of opportunity that I often see overlooked at budget time is examining the vendors that you’re using. Again, it’s not uncommon to get annual bids from vendors, but so often it begins and ends with shopping your current

providers against their competition on price. While price is important, quality, customer service, and terms are just as important. One maintenance company might charge $10 less than the others for basic maintenance and apartment turns, but if it takes them 25% longer or if you often have to bring them out to repair their own mistakes, then it’s not worth it. Similarly, if you have to wait on scheduling, a returned phone call in a time of need, or if you have trouble getting a vendor to make good on their word, you might want to consider interviewing other suppliers. When it comes to vendors, I like to examine what sorts of products and services I actually want and need for my business while looking at budgets. Looking ahead into the next year, is there any products or services that your company is not currently using that could be a benefit? Is there any new technology or way of accomplishing some current business need that might be a better alternative to what you’re using now? What products and services have you been allocating

budget to that you simply do not need? All of these are important questions to ask and do a little research on. Payment and finance terms are also an important thing to consider when choosing a vendor. Some vendors will require payment up front or at the time of service or delivery. Others will offer 30, 60 or even 90 days with varying interest rates. Make sure you take this into consideration with your projected cash flow situation. If all else is more or less equal having 60 days to pay rather than paying upon delivery allows for a lot of flexibility when managing your cash flow. Budgets are rarely fun, and can certainly be daunting, but it’s important to give them the time they deserve. While doing so, make sure you’re not missing any less obvious opportunities to examine what you might be able to tweak to make your operation more efficient and more profitable. By Will Johnson Publisher Rental Housing Journal

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711 Powell Ave. SW, Suite 101 Renton, WA 98057 (425) 656-9077 • (425) 656-9087 (fax) admin@wmfha.org

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How to Implement a Smoke-Free Policy

stablishing a Smoke-Free Policy in an apartment community is becoming a growing trend with landlords in Washington and across the country. Property owners find this kind of policy is good for business and a clear win-win, lowering costs and risks for an owner and providing a healthier, safer, greener environment for happier residents. With Washington’s adoption of legalized recreational marijuana use under certain conditions, residential property managers are receiving more and more complaints from residents about the intrusion of not just cigarette smoke into their dwelling units but now marijuana smoke. This is raising issues of habitability, health concerns and peaceful enjoyment of one’s apartment home. One of the best ways to counteract these complaints regarding smoke and odors of either kind is to implement a no-smoking policy at your community. Smoke-free policies can help landlords protect their residents from the dangers of second-hand smoke and provide benefits for their owners’ investments. The benefits to owners include reduced cleaning and maintenance costs to turn over apartments at move-out, reduced vacancy loss resulting from shorter turnover time, fewer property fires caused by careless smoking, and reduced insurance costs as a result of reduced insurance claims. There is also the lowered risk of resident warranty of habitability liability claims over adverse health effects caused by smoke, and the increased marketability of providing a healthier, safer living environment for residents. No-smoking policies will also preserve and enhance property re-sale value. Surveys have shown that the vast majority of renters favor policies eliminating smoking in apartment homes, and they would pay higher rent to live in a healthier, greener community. It is widely accepted that no-smoking policies do not violate Fair Housing Laws. Establishing a no-smoking policy in a newly constructed apartment community is relatively easy, compared with converting an existing building to no-smoking. However, there is a market for healthy living homes created by no-smoking policies. If you don’t have a no-smoking policy in your community, now is the time to make a change. Landlords nationwide and locally have developed a reasonable step-by-step process for implementing a smoke-free policy in their communities:

Step 1 – Develop Your Policy The most important part of Step 1 is making the decision to go smoke-free. Consulting with building owners, employees and residents will give you the initial buy-in needed to make the commitment. Then develop a clear policy and understand and communicate the

reasons for the decision. 100% smoke-free includes prohibiting smoking in the interior of all units, in any common areas, on patios or balconies, and within 25 feet of any building. If possible, you may create designated smoking areas, for example a nice outside gazebo on the property which may be far away from any buildings, play areas or other well traveled public spaces.

Step 2 – Develop a Transition Plan Determine when and how you want to implement your new policy. Establish starting date for any new residents to be bound by the no-smoking policy. Then determine the starting date for existing residents to fall under the new policy. Develop your legal lease language of your policy. Sample lease language to use either in a lease document or a separate lease addendum is available on many different websites such as www.smokefreewashington.com. Step 3 – Notify Your Residents Communicate the policy by notifying residents of the reasons for going smokefree and the benefits to the community. Prepare your legal written notice to residents giving notification of the change in policy. It is best to give ample time, beyond the legal notice requirements, to give existing residents time to acclimate to the new policy and have time to meet with management if desired. You may decide to honor existing term leases in place and enact the new policy when those leases expire in the future. (A sample resident notification letter is available on the websites shown at the end of this article). Step 4 – Market the Benefits of the Policy Train staff to be spokespersons for the new policy and the reasons the property has chosen this new rule. Make sure in your leasing presentations that the benefits of the amenity of a no-smoking policy are promoted. Include “no-smoking” in your online and print marketing. The property offers a cleaner, healthier environment for all residents, free from smoke drift that can cause health issues for infants, children, elderly and those with existing health conditions. Sell this benefit. It may set you apart from the competition. Step 5 – Enforcement of the Policy Enforcement starts by setting clear expectations at the outset of the tenancy. Then, enforce your new policy just as your management would any other policy, such as loud music, parking infractions, clutter, etc. Document any potential violations, meet with residents to discuss any policy violations and follow your standard progressive discipline measures of resident notification. Simply working with residents in a customer-friendly manner typically achieves the best results. Post signage alerting residents and

Rental Housing Journal On-Site · Month 2015

guests that smoking is not allowed on the property. Keep in mind, residents who smoke do not need to move out. Smokers simply cannot smoke inside their apartments, in common areas or in proximity to buildings where smoke can drift into other apartments and affect their neighbors’ health and enjoyment. Studies have shown that in most cases, after implementation of a no-smoking policy, you will find that turnover costs will drop, fire claims will be reduced, resident complaints of smoke drift will decline, and insurance costs will ultimately go down. Customer and employee satisfaction will increase, and occupancy in many cases goes up due to the attractiveness of the amenity. You will have happier residents who will want to stay in your community. Implementing a no-smoking policy

may be in the best interest of a property owner and is not as challenging as one might suspect. There is clear precedence and many resources for making this happen, and now may be the time to act. To request free consulting on how to implement a no-smoking policy, contact the Washington Multi-Family Housing Association at 425-656-9077. For King County properties, feel free to also contact Lindsey Greto, Tobacco Prevention Program Specialist, at 206.263.7886 or email Lindsey at lindsey.greto@kingcounty.gov. Obtain answers and resources at these websites: www.kingcounty.gov/health/tobacco, www.smokefreewashington.org or www. smokefreehousinginfo.com.

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Seattle Apartment Research Report

Seattle-Tacoma Metro Area, Third Quarter 2015

ents Reach New High as Vacancy Hits New Low Sustained job growth during the past five years from new and expanding companies has produced an influx of workers into the Seattle-Tacoma region and generated demand for housing. More than 115,000 people have been added to payrolls since the pre-recession peak and many of these are higher-paying positions in the tech sector. The surge of employees moving to the metro is impacting the housing market.

Despite the completion of more than 25,000 apartments over the last three years, vacancy has dipped to the lowest level in 15 years. Meanwhile, the inventory of single-family houses available for sale is extremely small, pushing home prices higher and preventing many tenants from transitioning to homeownership. This in turn is creating an even stronger rental market. Although construction of both single- and multifamily units is expected to continue at an accelerated pace over the next several years, housing affordability is becoming an escalating issue as housing costs far outpace wage growth, which will foster demand for lower-tier apartments. This year, vacancy will remain below the traditional replacement level of 5 percent, pushing rents close to 30 percent above their 2008 high.

The energetic economy and a strong housing market are drawing buyers to apartment assets in the metro. Foreign as well as institutional capital continues to flow and much of it is focused on stabilized properties close to the Seattle core that trade at cap rates in the 5 percent area. Although new construction projects coming online are providing these investors with additional buying opportunities, competition remains intense for available assets as strong rent growth has increased cash flows and is keeping many owners from listing. As a result, investors must be willing to expand their portfolio parameters and move down the quality scale or consider assets farther from the metro core. Mounting prices are limiting the number of value-add opportunities that will provide sufficient returns, making them harder to find. This is sending many investors into cities such as Tacoma or Everett where properties will trade in the low- to mid-6 percent range.

After the delivery of 9,700 units in 2014, developers will finalize roughly 12,000 rentals this year, a 3.5 percent increase in the metro’s apartment stock. The Intown Seattle submarket will receive the bulk of this year’s completions.

Vacancy Tenant demand will not be able to keep pace with the wave of new apartments coming online this year. As a result, the metro’s vacancy rate will rise 30 basis points 4.2 percent. Last year, vacancy decreased 40 basis points. Rents Sizable tenant demand and new luxury apartments being added to inventory will contribute to effective rents soaring 8.4 percent in 2015 to an average of $1,348 per month. This follows a 6.4 percent jump in rents during 2014. Published Courtesy of Marcus & Millichap

2015 Annual Apartment Forecast Employment Company expansions, especially in the tech sector, will result in the generation of 65,000 positions during 2015, an annual growth rate of 3.5 percent. This follows the addition of 58,900 jobs last year. Construction

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What To Do When You Need A Lawyer

Navigating The Best Route To Legal Advice

These days, a sharp pain in the knee or a persistent cough sends many people not to the doctor’s office, but to the Internet, looking for a potential diagnosis and cure. Something similar happens with people in need of legal advice, says Jasen McDaniel, executive director of the Jeffers, Danielson, Sonn & Aylward law firm (www.jdsalaw.com), which has been in existence in Wenatchee, Wash., for nearly seven decades. “It’s much easier to type in some search terms and hope you get some usable legal information, cheap or free, without having to visit an attorney,” McDaniel says. But, just as with health issues, that’s not the wisest move, he says. Google is no replacement for a legal education and years of practical experience, and information via a website may “provide a false sense of security,” he says. “There’s a reason it takes three years of post graduate law school and passing the Bar exam to become a licensed attorney,” McDaniel says. “Even legal issues that seem simple on the surface can become much more complex as you delve into the details and the existing case law. “Because of that, you want a customized, rather than mass-produced, approach.” For example, Jeffers, Danielson, Sonn & Aylward employs about 20 attorneys and is growing to an expected 27 by the end of 2017. JDSA Law is always on the lookout to recruit highly skilled applicants to join them. The firm’s attorneys focus on 18 areas of law, such as agriculture, construction, employment and labor, estate planning, healthcare, real estate and tax law, McDaniel says. “I think one of the most important factors when hiring an attorney is the relationship,” McDaniel says. “You definitely don’t get that through virtual-legal advice, where you aren’t physically in the same place, and probably don’t get it at some law firms where the attorneys are overloaded with clients.” Those in need of legal assistance have a few options when they shop around for an attorney. Here are pros and cons of each: • Solo practitioner. Most towns of any size have at least a few attorneys who practice on their own. They often generalize, offering legal advice in a number of areas, though in some cases they may focus on a particular area of law. “A solo practitioner can be a less costly option,” McDaniel says. “But you forgo the intellectual horsepower and collegial environment you get at firms that have a team of associates who share knowledge and experience with each other, ultimately benefiting the clients.” • Large firms and mega-firms. These firms can sometimes employ 100 attorneys or more who focus on numerous areas of law, and usually can handle more sophisticated legal issues than can the average solo practitioner. They may have offices in multiple cities and even multiple states. A downside is their services tend to be pricey, McDaniel says, in some cases costing $800 to $900 an 14

hour, or more. • Small and medium-size firms. These firms can provide some of that personalized attention that comes with a solo practitioner, combined with the sophistication of the much larger firms. The attorneys often enjoy a collegiality that is sometimes lost at larger firms. And, generally, their hourly rates will be lower than those of the mega-firms. “One reason to go with a firm of 20 to 30 attorneys that has been around for decades is you get a high-quality attorney and support staff for an extraordinary value,” McDaniel says. “Ultimately, it all comes down to finding the attorney that best suits your needs,” McDaniel says. “From that personal relationship, to a focus on a particular area of law, to your budget, what’s important is a fit that is right for you and your situation.” About Jasen McDaniel Jasen McDaniel is executive director of the

Jeffers, Danielson, Sonn & Aylward law firm in Wenatchee, Wash. (www.jdsalaw. com) The firm has been in existence since 1946 and focuses on a number of areas of law, including agriculture, construction, employment and labor, estate planning, healthcare, real estate and tax law, among several others.

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Reasonable Accomodation/Modifitcation ...continued from page 8 5. No request should be rejected without first offering an alternative in writing. Rather than merely rejecting the resident’s request, which might enable the resident to accuse management of failing to accommodate, it makes more sense to offer an alternative accommodation that can provide the landlord with a defense in the event of a complaint, even if the resident rejects the offer. 6. For conventional properties (not federally financed), landlords must allow the tenants/applicant, to make reasonable modifications at their cost. Typically, modifications w at the resident’s expense are approved unless the resident cannot verify his need for the modification, the modification creates a structural or safety problem for the building, or it makes the space unusable by other patrons of the property. 7. If the modifications of the property might interfere with the next resident’s use of the apartment, the resident must agree to return the interior of the apartment to its unaltered condition upon the termination of the lease. 8. When the final determination is made on the resident’s request, the decision of the accommodation or modification will be documented by a letter to the tenant or applicant. 9. All requests (accepted as well as rejected) for accommodation or modification will be saved in the

tenant’s file for future review if necessary.

Additions to Accommodation Policies The following language can be adapted or added to existing policies and agreements: The Landlord (your company name here) complies with the Fair Housing Amendments Act of 1988, Section 504 of the Rehabilitation Act of 1973, and the Americans with Disabilities Act (ADA). This property will comply with any legislation protecting the individual rights of tenants, applicants, and/or staff that may subsequently be enacted. The Landlord (your company name here) does not discriminate against persons with disabilities in its services and structures, provides equal opportunity to all persons with disabilities, and provides accommodations to meet the needs of persons with disabilities upon request, if the accommodation is both reasonable and financially feasible. Lease Break Fees: If a tenant has provided documentation of a Reasonable Accommodation being necessary by

sistent support of tenants who qualify for reasonable accommodations due to disabilities. Consistency in polices translates into meeting fair housing requirements fairly and equitably for every tenant. I encourage you to be consistent with

your policies and protect your onsite and

portfolio managers by developing clear and easy to follow rules. P.S. Don’t forget to run your policies by your favorite fair housing attorney to make sure the rules have not changed as they so often do in Washington D.C. Authors Note: The author thanks the Fair Housing Institute for the use of theirwresources in the writing of this article.

*Resources http://www.hud.gov/oﬃces/fheo/library/ huddojstatement.pdf Joint HUD and Justice department release that clarifies reasonable accommodations under the fair housing act. http://www.fairhouse.net/library/article. php?id=39 Create a Reasonable Accommodations Policy for Your Property http://www.justice.gov/jmd/eeos/manual-and-procedures-providing-reasonable-accommodation http://www.fhrc.org/HRAC_Brochure.pdf

continued on page 22

their medical professional, specifically

with a need to vacate their unit due to medical reasons, it is common sense not to charge a lease break fee or require 30 day notice.

Summary The purpose of this article was to help landlords and property owners plan, develop and implement policies that will guide property managers in the con-

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Low-Value Homes Leading the Climb Out of Negative Equity

ome values in the bottom third of the market helped pull more homeowners out of negative equity in the second quarter of 2015, and condos were more likely than houses to be underwater. • The U.S. rate of negative equity among mortgaged homeowners continued to drop in the second quarter of 2015, to 14.4 percent-the first time the rate has been below 15 percent since the real estate bubble burst. • The improvement was spurred by value growth in the least valuable third of the housing stock, which are far more likely to be underwater than other homes. • Condos are more likely to be underwater than single-family homes. Nearly 20 percent of all condos with a mortgage are upside down.

SEATTLE The U.S. negative equity rate dropped below 15 percent in the second quarter of 2015, according to the Zillow® Negative Equity Reporti, but nearly 20 percent of condo-owners remain underwater. Condo-owners were in far worse shape than single-family homeowners in Chicago, Orlando and Las Vegas. And in only three markets – Detroit, Memphis, and Pittsburgh – single-family homeowners were more likely to be underwater than condo-owners. A high rate of homeowners who owe more on their mortgages than their homes are worth is a lingering effect of the real estate crisis. At its worst, more than 15 million homeowners were upside down on their homes. Foreclosures,

continued on page 21

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Low-Value Homes Leading the Climb ...continued from page 20 short sales and rapidly rising home values freed nearly half of those homeowners, leaving 7.4 million homeowners upside down at the end of Q2 2015. The continued decline of the overall negative equity rate was fueled in the first half of the year by strong appreciation for the least valuable third of homes. The least valuable homes are much more likely to be underwater than more valuable homesii. In the Atlanta market, for example, nearly 43 percent of the least valuable homes are in negative equity, while only

9.4 percent of high-end homes are underwater. Annual home value appreciation among the least valuable homes in Atlanta had slowed for 12 straight months through June 2015. However, low-end homes have been appreciating annually more than more valuable homes. Since June 2014, annual appreciation in the bottom tier outpaced home value appreciation among all Atlanta homes, likely helping drive negative equity down there from 29 percent to 21 percent year-overyear. Similar trends played out in Sacramento, Riverside, and Phoenix, all plac-

es that have struggled with high rates of negative equity. “If the overall negative equity rate is going to continue to fall, it will need to keep being driven down by improving health at the bottom end of the market,” said Zillow Chief Economist Dr. Svenja Gudell. “The least valuable homes really bore the brunt of negative equity during the recession, and that’s where most negative equity remains concentrated today. As more first-time buyers enter the market seeking these less expensive homes, home value growth at the bottom end

could continue to outpace growth overall, which will be good news for millions of underwater homeowners in these homes.” Among the 35 largest housing markets, Las Vegas, Chicago and Atlanta continued to have the highest rates of homeowners in negative equity. Condo-owners had the highest rates of negative equity in Las Vegas (36.7 percent), Chicago (32.6 percent), and Orlando (29.9 percent), while single-family homeowners had the highest rates in Las Vegas (23.8 percent), Atlanta (20.4 percent) and Chicago (19.2 percent).

% Change in Number of Homes in Negative Equity Q2 Negative Equity Rate for Q2 2015 Negative Equity Rate Q2 2015 Negative Equity Rate From Q2 2014 to Q2 2015 Condos for Bottom-Tier Homes 14.4% -19.3% 19.3% 24.0% 12.0% -17.1% 12.6% 23.4%

Metro United States New York-Northern New Jersey Los Angeles, CA

7.8%

-25.3%

Chicago, IL

22.0%

-17.8%

32.6%

Dallas-Fort Worth, TX Philadelphia, PA Houston, TX Washington, DC

6.2% 16.9% 6.4% 16.4%

-38.7% -9.2% -25.1% -13.7%

11.2% 23.4% 14.0% 20.2%

Miami-Fort Lauderdale, FL Atlanta, GA Boston, MA San Francisco, CA Detroit, MI Riverside, CA Phoenix, AZ Seattle, WA Minneapolis-St Paul, MN San Diego, CA St. Louis, MO Tampa, FL Baltimore, MD Denver, CO Pittsburgh, PA Portland, OR Sacramento, CA San Antonio, TX Orlando, FL Cincinnati, OH Cleveland, OH Kansas City, MO Las Vegas, NV San Jose, CA Columbus, OH Charlotte, NC Indianapolis, IN Austin, TX

16.3% 20.9% 7.9% 5.4% 18.3% 15.8% 18.2% 11.9% 13.2% 8.6% 18.8% 17.6% 17.8% 6.0% 10.2% 7.5% 13.0% 11.0% 17.8% 15.4% 18.3% 17.9% 25.0% 3.4% 14.2% 12.1% 15.0% 6.9%

-25.8% -28.6% -24.4% -37.8% -24.0% -20.6% -17.5% -34.2% -21.7% -26.3% -17.9% -25.3% -13.4% -29.9% -8.8% -40.9% -23.8% -19.0% -25.8% -18.7% -16.3% -14.9% -16.4% -31.8% -25.5% -34.5% -17.1% -22.4%

23.0% 27.8% 12.9% 7.1% 17.3% 20.5% 26.1% 20.1% 22.1% 12.7% 24.7% 23.9% 24.9% 9.9% 9.6% 15.5% 25.4% 16.7% 29.9% 23.3% 22.5% 23.8% 36.7% 5.1% 24.6% 21.3% 21.0% 11.0%

12.2%

32.4% 28.5% 29.9% 42.7% 13.6% 10.9% 24.2% 27.0% 19.5% 22.9% 12.7% 37.6% 34.1% 30.5% 8.5% 20.6% 10.6% 20.1% 31.2% 29.3% 38.4% 38.3% 6.2% 30.7% 20.0%

SOURCE Zillow

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What Are The 4 Phases Of A Sound Financial Plan?

ome Advisors Focus On Only One Everything looks like a nail if your only tool is a hammer – that’s what financial planning expert Brad Berger finds himself telling clients all the time.

What does he mean? “A lot of the people in the financial services industry have only a hammer; they have specific products to sell, so they present them as the perfect solution for you,” says Brad Berger, author of the book “Stop Trying to Keep Up With the Joneses – They’re Broke Anyway” (www. LiveYourIdealLife.com). “Some financial professionals tend to serve as salespeople, and clients can grow defensive and numb to the products an advisor might be pushing on them. But there are many tools available for financial planning that may be ignored at the expense of a product. Clients should better understand that there are other tools, including stocks, bonds, mutual funds, REITs (Real Estate Investment Trust), annuities, insurance, real estate, commodities, futures, ETFs (Exchange Traded Funds), precious metals—the list goes on and on.”

Despite all of these tools that some financial advisors may ignore in this solution phase, there are also three other phases when creating a sound financial plan. Berger reviews the phases. • Discovery. It’s important to focus on the “why” of financial planning before considering the “what.” A computer can calculate the what, but it cannot tell you the why. It cannot define your personal values and your goals—and unless those are established first, how can you know that a potential solution is appropriate for you? “That’s why, in my firm, we use something called the Financial Road Map® to help clients articulate their values,” he says. “Then we help them establish goals and milestones for reaching them. How will they feel when they achieve them? When do they want to attain a particular goal, and how much money will that require? We look at their current financial situation to assess the possibilities.” • Planning. Here, it’s important to make sure the right product is used for the right job. “In my opinion, there are no bad financial products,

but there are many financial products applied badly,” Berger says. Financial regulations keep these products out of the marketplace unless they have been vetted—at least somewhat. But such oversight tends to break down when it comes to whether the products are being used for the purpose for which they were designed. You could hammer in a screw as if it were a nail, but in doing so you would be misusing both the hammer and screw. • Solutions. Again, here is where some advisors try to push products. “In this phase, we collect all the pertinent numbers and review them, and we talk about approaches and products,” Berger says. The goal is to uncover whether the client would object to a particular strategy. “Because I’m an independent advisor, I’m not beholden to specific products,” he says. “There really are many tools for folks to use when mapping their financial future.” • Monitoring. “We’ve uncovered more than 150 checkpoints for our clients during the course of a year,” Berger

says. “Many may not apply to a client at a particular point in time, if ever. Nonetheless, our financial team considers how each one might apply and how we would deal with it.” The monitoring phase is critically important, and it has become more complex. Life’s pace is faster. People are subject to more rules and regulations, Berger says, which can provide many opportunities but also present a lot of potential pitfalls. About Brad Berger Brad Berger, a managing partner and owner of Cornerstone Financial Strategies LLC (www.LiveYourIdealLife.com) in Tacoma, Wash., is a CERTIFIED FINANCIAL PLANNER™ Professional with more than two decades of experience. He also is the author of the book “Stop Trying to Keep Up With the Joneses – They’re Broke Anyway: A Financial Planner’s Guide to Living Your Ideal Life.” He is a graduate of the United States Military Academy at West Point and served as a Scout Platoon Leader in Berlin, Germany, during the fall of the Berlin Wall.

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Dear Maintenance Men By Jerry L’Ecuyer & Frank Alvarez Dear Maintenance Men: Because of the drought, we have left our yards to dry out and the grass to die. One issue I have is the mature trees on the property. Grass and plants are easy to replace, however the trees are another thing altogether. How do maintain our trees and still conserve water? Margret Dear Margret: The extended drought we are experiencing is tough on everything and sacrifices must be made. However we think a line must be drawn at our trees. The method we recommend to save the trees and still be draught aware is in the use of soaker hoses. The placement of the soaker hose is important. Visualize the shape of a tree with its truck and canopy of branches and leaves. The edge of the canopy is known as the “Drip Line” of

the tree. This means that any “rain” or moisture that falls on the tree will be absorbed by the tree’s feeder root system at the drip line. To take advantage of these thirsty roots, place a soaker hose at the drip line or edge of the tree’s canopy. A soaker hose is very water efficient and puts water exactly where you want it. Water the trees at least twice a week and for a couple of hours at a time. The water will soak deep into the soil where it is needed without waste. The trees will be much happier and you will be using and conserving water efficiently. Dear Maintenance Men: I am trying to do my part to conserve water and have found my toilets are the biggest offenders. The toilet constantly fills every five or ten minutes. I have replaced the fill & flapper valves but the problems persist. I’m at my wits end about this! What can I do besides replacing the toilets? Benjamin Dear Benjamin: Leaks at the Flush Valve are possibly caused by a damaged flush valve seat which may have a hole or the rim is pit-

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Dear Maintenance Men ...continued from page 24 the base of the toilet: Turn off the water to the fill valve, disconnect the water line and remove any water from the tank. Unscrew the two or three brass bolts under the tank and carefully lift the tank off. Once the tank is removed, turn it upside down. Remove the rubber “Spud” washer from the tank. Spin the large nut from the threads and then push the valve seat through the tank. Reverse the procedure when installing the new valve seat. Always install a new “Spud” washer and new brass bolts and washers. Be sure your toilet tank is installed level, as this will aid in its operation. The new flush valve will give the rubber flapper a smooth seat for a positive seal. Dear Maintenance Men: I hear people talking about winterizing their buildings. I grew up on the east coast were that meant something! In Southern California, what “Winterizing” could we possibly be doing? Jonathon Dear Jonathon:

ted or cracked. The seat is the large drain hole at the bottom of the tank. A temporary repair may be to sand the seat with a steel wool pad or wet/dry sandpaper. This will remove the calcium build-up. If the seat is damaged, replacing the seat will be the next option. “Fluidmaster,

Inc” makes a Flusher Fixer Kit that can be cemented directly on top of your old worn flush valve seat. This is a quick fi x that may not work on all toilets. If the seat kit does not work, you will need to replace the valve seat. This can be accomplished by removing the tank from

In California and many western states, “Winterizing” simply means we switch from light shorts and white T-shirt to dark shorts and a long sleeve T-shirt! When it comes to your building, “Winterizing” California style is simple. Start from the top and go down. Inspect your roof; replace any loose tiles, shingles etc. Caulk all flashings around fireplaces, vent pipes, siding to roof transitions and skylights. Remove any junk on the roof, clean your gutters, and secure any loose gutters. Test your gutters with water to make sure they are pitched correctly and check your gutter downspouts;

make sure they direct the water away from the building. If you have any floor drains, clean out and snake them. Caulk any wood seams, window trim, stucco cracks, vents and any area that might soak in water during a rainstorm. Check your sprinkler timers and adjust the duration and days watered. Depending on water restrictions in your area; to keep your grass green all winter; fertilize and seed with Rye grass. During windy, rainy weather, trees may touch both the side and roof of your building, trim any branches that may cause damage. Secure any weak or young trees or bushes that may fall in a storm. These simple winterizing steps will help keep you dry and off of the roof during winter weather. Bio: Please call: Buffalo Maintenance, Inc for maintenance work or consultation. JLE Property Management, Inc for management service or consultation Frankie Alvarez at 714 956-8371 Jerry L’Ecuyer at 714 778-0480 CA contractor lic: #797645, EPA Real Estate lic. #: 01460075 Certified Renovation Company www.BuffaloMaintenance.com & www. ContactJLE.com www.Facebook.com/BuffaloMaintenance

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