Rental Housing Journal On-Site
November 2015
4. Squatters and Surprise Tenants 5. 9 Tips for Getting Started in Real Estate Investing 7. 5 Real Estate Investing Fundamentals 8. Ask The Secret Shopper
10. Will Your Retirement Hit Bottom if the Markets Crash?
16. Americans Think Homeownership is a Sound Investment
11. Transitioning from T12 to T8, T5 or LED Lighting for Commercial Buildings
25. 31 st Annual TRENDS Tradeshow 43. Help Us End Veteran Homelessness
12. Find Your Life Path and Navigate it Carefully
9. Serving Our Communities
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Rents Up 2.9% in PierceKitsapThurston
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eattle – Apartment Insights 3rd quarter results show rents increasing 2.9%. The vacancy rate of 4% is close to the all time low since Apartment Insights began survey these counties according to Tom Cain, the firm’s principal. The data are from his Seattle firm’s statistics and trends on 50+ unit properties in Pierce, Kitsap and Thurston counties.
Vacancy: 4.02% The market vacancy for our nonrandom survey of conventional, stabilized 50+ unit properties in all three counties is 4.02%, up from 3.79% in the second quarter. The vacancy rate was 4.91% a year ago. The rate for all properties including those in lease-up is 4.47%. This is up from 4.38% last quarter. Pierce: 4.17% The current vacancy rate in Pierce County increased from 3.81% to 4.17% this quarter. The rate is down 100 basis points from a year ago.
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Long-term Hold Investing For Owner/Managers
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he rental property investing strategy for a hold time of 15+ years is significantly different, than a short term real estate investment strategy. This is even more critical for owners who plan to do their own property management. Owning and managing a property for 15-20 years is similar to raising a child, from birth through high school. Price is always important when buying any property. If you are planning to own a property for decades, do not consider purchasing a potential “problem child”, because it is cheap. Bad purchases are often made when investors feel they must purchase quickly. Adapt the motto that “I can always spend my money” and keep shopping to you find the “right” deal. Investors need to seriously consider the location, quality of construction, target tenants and financing for a long term hold rental property:
Location Properties should be located within 30 minutes of where you reside. Any-
thing longer than an hour round trip drive will become cumbersome over time. It is always a wise idea to geographically diversify your rental portfolio. Therefore, owning properties in different neighborhoods. Within 30 minutes of your home, is preferable to owning all your properties, in one neighborhood. Target property purchases in desirable residential neighborhoods with a
low percentage of rental properties. Initially, the annual cash and cash return will probably be less, than what could be bought in less desirable locations. Rental properties in more desirable locations usually are priced at a lower capitalization rate, than rental properties in less desirable areas. Over time, the quality of tenant, ease of leasing, continued on page 18
Are You Leaving Money on the Table? By Cliff Hockley CCIM President, Bluestone & Hockley Real Estate Services
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ost real estate investors tend to operate their properties with a simple rule in mind: If money appears in their checking account by the end of the month, their property is healthy. As long as they see the same amount every month they’re happy. However this rule inevitably leaves money on the table. Sophisticated investors know that they need to plan for their properties to be successfully operated. They need to buy the right
property and operate it with a vision in mind. That vision should include an annual focus on rent increases and tenant relations.
Rent Increases Residential: Multifamily or single family investors have the opportunity
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to increase rental income at least once a year through the annual budgeting process. This process starts with an annual inspection, followed by a local area renewal rate review (rental comparison survey). Keeping your property well continued on page 19
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Rental Housing Journal On-Site
By Evan L. Loeffler
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Surprise Tenants and Squatters
eal estate investors in residential property are sometimes surprised to learn after the purchase has closed there is already someone living in the property. Whether the occupant is the former owner, a member of the former owner’s family, a tenant that was not disclosed or simply someone who moved in and will not willingly vacate, the problem of unknown occupants has become a more prevalent problem. There are a number of scenarios a new property owner may face. Common situations include: • The seller of the property refuses to move; • A relative of the seller refuses to move; • Post-foreclosure occupancies by former owners or tenants; • The property was believed to be vacant and the buyer learns someone moved in without telling anyone. Evictions may be complicated when there is an occupant of real property after closing on a purchase and sale agreement. The Residential Landlord-Tenant Act applies when there is a landlord-tenant relationship. This is usually indicated by a written or oral lease between the parties where the tenant agrees to pay rent in exchange for being allowed to reside in the property. When the former owner refuses to move after closing, there is no such agreement. Accordingly, the Residential Landlord-Tenant Act may not ap-
Save the Date!
• Action for unlawful entry and detainer. This is a rarely used procedure similar to an action in ejectment. The statute provides that a party who enters upon land without permission of the owner who refuses to vacate after three days’ notice may be removed from the land.
ply. Purchasers struggle to find an efficient and cost-effective way to remove such occupants. Some suggestions: • Establish a tenancy: delivering a notice to the occupant stating, “If you remain on the premises you are a tenant,” and providing the terms of the tenancy may be effective to convince the occupant to leave. There is no guidance from the courts or the law on how much notice will be required. There is also the problem of whether a contract on which there is no mutual agreement can be enforceable. • “Cash for keys.” A written agreement with an occupant to move by a certain date in exchange for money or other consideration is an enforceable contract. Moreover, it establishes a tenancy that may be enforced at law. Litigation is uncertain and expensive. Working out a deal may be faster and cheaper than pursuing legal remedies in court.
• Tenancy at will: This is a term invented by the courts to define when a party is in possession of real property without a lease or an agreement to pay rent. The case law discussing this situation suggests that a tenant at will may be terminated with “reasonable notice.” It appears what is reasonable is to be decided on a case-by-case basis. The manner of legally removing a tenant at will may by eviction or by ejectment. • Action in ejectment. The Washington State legislature has provided authority for the courts to determine which party asserting ownership of the property has the superior right of possession. Essentially the action is to quiet title. Such actions are not as quick or cost-effective as an eviction. However, unless the occupant can show he or she is on title, there is very little defense.
• Forcible detainer. A person is guilty of forcible detainer who unlawfully holds possession by force whether possession acquired peaceably or otherwise. The owner may proceed in a manner similar to a standard unlawful detainer or eviction action in such a case. Each procedure presents its own challenges. The best choice for a new property owner will depend on the unique circumstance of each situation. When faced with an unwanted or unforeseen occupant, it is best to consult with a lawyer well-versed in this area of the law who can advise on the best way to get possession of the property. Evan Loeffler is the principal at the Loeffler Law Group PLLC in Seattle. Mr. Loeffler’s practice emphasizes landlord-tenant relations and real estate litigation. He is the author of multiple landlord-tenant law sections in the Washington Lawyers Practice Manual and is on the faculty for several landlord-tenant CLE programs.
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
9 Tips for Getting Started in Real Estate Investing By JC Underwood, Crown Properties
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reat This As A Business One of the biggest mistakes I see new investors make is to treat real estate investing as a hobby instead of a profession. If you’re counting on real estate investing to provide income now and retirement income later you must treat it like a business. Real estate investing is now your profession. Treat it like one. By that I mean you have to advertise, devote time to it, show up for appointments on time, act professionally, do your paperwork properly and treat your clients professionally. Most real estate investing isn’t passive. Unless you are a private lender most investing takes real work. Even a landlord using a property manager has work at the outset and should continue to remain active in oversight. This is not a get-rich-quick scheme. It takes time to build client lists, credibility, partnerships and associations. A well-grounded business is built over time unlike “overnight sensations.” It will take you 3 to 5 years to become a real success in this field.
Learn About The Business and Stay Informed “If you think education is expensive, try ignorance.” Derek Bok
You can lose more money with a mistake than you can learning how to avoid one. Even if you have been at this business for years, you need to keep up with current trends and laws. You never get to the point where you know it all or even know “enough”. Some investors honestly believe that there is nothing else that they really need to know to be successful, then a law changes, the market turns, or a new strategy begins to be used. They either miss changes coming in their community that will majorly effect their profits, put themselves in a position of huge liability, or miss out on time and money saving tips because they just didn’t take time to stay informed. In the real estate business, like everywhere else, knowledge is power and for investors it’s profit too.
There Are Many Profitable Strategies In Real Estate Most new investors get into real estate investing after hearing about one specific strategy. They have a friend or family member that has participated in real estate, they saw a TV show or infomercial or they went to their first REIA meeting and heard a charismatic speaker that made them want to pursue a specific investing strategy. They begin to invest using that strategy because continued on page 20
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Rental Housing Journal On-Site
Rents Up 2.9% in ...continued from page 1 The lowest vacancy rates are in the Tacoma North Central and University Place/Fircrest submarkets. These are in the 3.7% range. The Tacoma South submarket experienced the greatest softening among the submarkets. It also ended up with the highest vacancy rate at 4.67%.
Kitsap: 3.23% Last quarter’s vacancy rate of 3.01% in Kitsap eased a bit to 3.23%, still extremely low. The vacancy rate was 4.48% a year ago. Port Orchard is the tightest submarket at 3.06%. The highest rate of 3.87% is in the Poulsbo/Bainbridge Island submarket. Thurston: 4.05% Thurston County improved this quarter. The vacancy rate dropped from $4.31% to 4.05%. A year ago it was 4.16%. Tumwater is the strongest submarket where the vacancy rate is 3.53%. Rental Incentives Pierce $8 per Month (0.72%) Kitsap $2 per Month (0.19%) Thurston $7 per Month (0.75%) The overall rate for rental incentives for the three-county area is 0.71%, slightly higher than last quarter. Twelve percent of the properties in the three-county area are offering rental incentives, about the same as last quarter.
Rents $985 per Unit $1.14 per Square Foot
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Rents for the three-county area bumped up $28 to $985 per unit and $1.14 per foot. Rents have increased each quarter for two and a half years. They increased 7.9% over the past year.
Pierce $978 per Month $1.14 per Square Foot Kitsap $1,058 per Month $1.24 per Square Foot Thurston $931 per Month $1.09 per Square Foot Rents increased $21 in Pierce, $49 in Kitsap and $14 in Thurston. In the past year rents have increased 7.1% in Pierce, 14.5% in Kitsap and 4.5% in Thurston. Runners-up Silverdale topped the list for the greatest rent increase over the past quarter, 6.8%. Port Orchard and University Place/Fircrest were runners-up at 5%.
New Construction Featured in the photo, the 120unit Tudor Village opened this quarter. It is located just west of the Tacoma Mall, and is managed by Dobler Management Company. There are 1,408 units under construction in the three-county area, most of which are in Pierce. There are 916 units that have completed the design review process, and another 2,477 units that are in the earlier stages of the construction pipeline.
Observations The stellar performance of the three-county market continues unabated. The vacancy rate stands at 4%. Rents have increased nearly 8% over the past year. Kitsap County is clearly the leader among the counties. Its rents are the highest ($1,058) and its vacancy rate is the lowest (3.23%). Rents here have increased 14.5% over the past year. We have been predicting that 2015 would be a good year for the three-county market. With only one quarter remaining in the year, it looks like a good bet. Tom Cain of Apartment Insights Washington is a member of the nonprofit Central Puget Sound Real Es-
tate Research Committee in charge of providing apartment rent and vacancy data. Tom has been a member 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. Tom Cain, Apartment Insights 206-632-2220 www.apartmentinsightswa.com
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Rental Housing Journal On-Site
Five Real Estate Investing Fundamentals
By – Jeff Watson The Jeffery S. Watson Law Firm LTD, General Counsel National REIA
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ne of my favorite movie moments is when Ernest Borgnine, portraying the legendary football coach Vince Lombardi, stood in front of the world champion Green Bay Packers at the beginning of training camp and held aloft an oblong object proclaiming, “Gentlemen, this is a football.” What Vince Lombardi taught the Green Bay Packers then applies to real estate investing today.
some time working on what you think is best for you. That means you may have to do one of those activities in which investors should engage on a regular basis but often don’t – think and plan. As you think and plan, you will be able to clearly define your investment parameters in a way that you can clearly communicate with others who may want to do business with you.
Master The Basics Practice them over and over again. Consistently do the fundamental things that make you a successful real estate investor.
Do Your Essential Due Diligence Another key component of real estate investing involves your due diligence process. There are two very crucial questions to be asked at the beginning:
Repeat Your Successes And Keep Repeating Them The vast majority of “investors” today suffer from what I call “squirrel or shiny-object syndrome.” They have a little success in one area, but then they are suddenly distracted by something else and go to another area, and then another, and then another. The bottom line is they lose their focus and intensity, and they don’t continue to practice the same thing over and over again. Let me remind you, slow and steady wins the race! Establish Your Parameters In addition to becoming good at the basics, I urge real estate investors to establish their investment parameters.
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• What kind of investments or deals do you want to do? Are you going to do loans? Are you going to use options? Are you going to buy rentals or tax liens? Are you going to invest in commercial properties? Pick two or three (no more than that) of these things and get very good at doing them. Do them over and over again.
• Determine what you are looking for in each of your potential investments. • How much capital per investment are you willing to put at risk? • How much time will you put into this investment? • What is the length of time you want your capital to be out working?
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• What is the projected rate of return you are seeking? • What is the minimum rate of return you want from your cash and/ or time in each of your investments? When I say “rate of return,” I’m not just talking about an interest rate. • Do you want your investments to result in your receiving monthly income payments, either interest only or something else, so each investment is generating a monthly cash flow to you? These are just some of the parameters you need to establish for yourself. There is no one book, manual or class where you can learn all this information. No, it requires your spending
• Who is involved? • How are they involved? Allow me to explain why these questions are so important. It doesn’t matter how papered-up or how careful your lawyer is when drafting the agreements. If the person on the other side is a person of weak or poor character whom you know has a tendency not to honor their word, it will not be a good deal. You want to be in a situation where someone you know who has very high character and is a capable investor is involved in the transaction. You still need to know HOW they are involved. continued on page 17
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SK THE SECRET SHOPPER
vailable for a limited time! Only one of its kind! Offer expires at midnight! These and similar phrases are used to make people “spring boldly into action.” They conjure up images of people rushing into department stores and retail outlets to take advantage of incredible offers on quality merchandise, especially during the holiday season. The advertisers and merchandisers are trying to create a sense of urgency in the minds of their customers; which will motivate them to take immediate action. They are in the “sales” business and want the customer to immediately purchase a product and part with some of their money! You may not have to meet monthly or quarterly sales “quotas,” but undoubtedly you have specific occupancy standards which must be met and maintained. Therefore, you need to rent a certain number of apartments each day, week or month to achieve the goals set for your community. It’s no secret that in the Pacific Northwest, many prospective renters decide to hibernate for the winter and dig in their heels until after the holidays. The phone isn’t ringing off the hook like it was in July, and the few people who are moving, may or may not make it to your community before they decide to rent somewhere else first. A vacant apartment today, could be “ringing in the New Year” with you on January 1st. The Secret Shopper phoned three communities, looking for immediate availability. Each leasing person seemed
interested in helping me, but only one motivated me to visit. My first call was answered promptly by a friendly voice. I stated that I was new to the area and needed to find a place right away. The consultant asked where I was moving from and what was bringing me to the area. She then asked for my name and began to inquire about the specific needs and requirements I had. It was a pleasant exchange that went on for several minutes. Once the consultant learned what was important to me, she began to talk about various openings. She said that I had called at a good time because there were a couple of great apartments to choose from. The consultant invited me to visit and told me the office hours. She said, “If I’m not here, anyone in the office can help you.” She gave me directions and closed with, “I hope to see you soon.” The next call I made was answered with a great deal of enthusiasm. The consultant asked for my name right away, and I could hear the smile in her voice as she spoke and offered her assistance. I explained that I was new to the area and needed to find a place to live right away. The consultant asked questions to determine my needs and find out what was important to me. She told me there were only two apartments available, and briefly described the positive attributes of each one. She asked when I would like to come by, and we discussed the driving distance and the fact that it was raining. The consultant said, “It’s been kind of slow today
because of the weather. If you want to wait and come by tomorrow, I’m sure the apartments will still be available.” I said, “I think I’ll do that.” The consultant said, “Great! I’ll see you tomorrow!” My final call was met with an energetic greeting and an immediate offer of help. When the consultant learned that I needed an apartment immediately, she said, “Well, you better get right over here because I only have one left!” I laughed and asked if she could tell me a little bit about it first. The consultant described the apartment interior, as well as the view. She explained that the “view apartments” don’t open up very often, and said this one was especially nice because of its southwestern exposure. The consultant said she had a model to show, and she could take me by the location of the apartment for rent. She told me they were still getting it ready, but that I could move into it by the week-end. Th e consultant asked if I had time to come over right now. She said she had another appointment in an hour and if I waited, the upcoming apartment would probably be gone. I agreed to come over within the next twenty minutes. The consultant then gave directions carefully, since I had stated I was new to the area, and said, “Call me if you get lost.” Before we hung up, she asked for my number to be able to check back with me if I didn’t make it by. The consultant thanked me for calling and ended with, “I look forward to meeting you. I’ll see you when you get here.”
What are you doing to create URGENCY when the telephone rings at your community? How do you convince the caller that what you have to offer is worth their time and consideration? Your community may be just one of a dozen competing for their attention. Why should they visit YOUR place, and why should they DO IT NOW? Is there something about your apartments or community that stands out from all the rest? Could it be a unique floor plan or desirable location? What about the easy access to area conveniences or your sensational staff ? Whatever it is, use it to create urgency to get your callers to visit TODAY! Tomorrow is TOO LATE! By then, they will have already rented from the leasing consultant who invited them to visit YESTERDAY! 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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Rental Housing Journal On-Site · November 2015
711 Powell Ave. SW, Suite 101 Renton, WA 98057 (425) 656-9077 • (425) 656-9087 (fax) admin@wmfha.org
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Executive Director - Jim Wiard • President - Kris Buker - Vice President - Brett Stevens Treasurer - Becky Sanders • Vice President of Suppliers Council - Rob Pendleton • Immediate Past President - Gail Duke
Serving Our Communities
n an effort to give back to communities in which our association members as well as our residents live and work, WMFHA continues to look for opportunities to get involved in community service. The association’s Community Service Committee works to create initiatives that offer investments in our local community that are specifically directed to innovative and collaborative charitable programs. These targeted programs will provide safe housing and quality of life benefits to disadvantaged children, low-income families, veterans, and the senior community.
We provide 3 levels of service participation for our members: 1. Fundraising for Charities 2. Product Donations for Charities 3. Donations of Time and Labor At WMFHA’s quarterly membership meetings, attendees bring food donations to contribute to Northwest Harvest. Northwest Harvest is Washington’s statewide hunger relief agency. Their mission is to provide nutritious food to hungry people in a manner that respects their dignity, while fighting to eliminate hunger. WMFHA’s property members in King County have grouped together to conduct food drives at their apartment communities, encouraging employees and residents to participate and support Northwest Harvest’s mission. To date, WMFHA member properties have contributed 15,000 pounds of food for needy families.
During September, WMFHA organized their first annual volunteer Impact Day, partnering with Rebuilding Together Seattle. Rebuilding Together Seattle brings volunteers and communities together to help low income homeowners live in warmth, safety and independence. In an effort to continue to give back to local communities and provide a way for the association’s members to be a part of a charity volunteer day, WMFHA chose houses owned by an Army veteran and a Navy veteran. WMFHA’s member companies donated materials, equipment and labor to make extensive repairs and replacements in the homes. New appliances donated and installed included a refrigerator, stove, dishwasher, washer/dryer and a new hot water heater. All vinyl flooring and carpet was replaced in one home. Kitchen cabinets and countertops were all replaced, along with bath and kitchen sinks. Window blinds were replaced. Volunteers performed gutter cleaning and landscaping as well. In a separate home, a complete new roof was installed. Rebuilding Together Seattle serves low income homeowners who are elderly, living with a disability, families with children, or veterans in need. The association’s Eastern Washington Chapter held a similar volunteer day in April. In October, our association held the 9th annual Chili Cook-Off charity event, raising a record $16,915 for the Domestic Abuse Women’s Network (DAWN). Over 400 people from the multifamily housing industry and the local community attended the Chili Cook-Off at
the Tukwila Community Center. Over 25 participant companies, representing property management companies and industry supplier companies which service the apartment industry, served their best chili recipes to attendees and chili judges. Families were treated to entertainment from the Seattle Seahawk’s Blue Thunder Drum band and Seattle Seahawks team mascot BOOM, as well as visited with Seahawk’s SeaGals cheerleaders. The Domestic Abuse Women’s Network provides transitional housing and resources to women and children in the community who are victims of domestic abuse. Proceeds from the WMFHA Chili Cook Off will help allow DAWN to provide programs and services to approximately 15,000 survivors and their children. WMFHA has donated over $83,000 to DAWN from past Chili Cook-Off events. November’s annual holiday get-together, the Holiday Giving Gala, was all about raising money for Childhaven. Since 1909, Childhaven has been a safe and caring place for babies, toddlers and preschoolers. Today, their trailblazing childhood trauma treatment program heals the youngest victims of abuse and neglect and prepares them for success in school and in life. By improving parenting skills and strengthening relationships, Childhaven’s mission is to break the cycle of abuse and neglect and lay the foundation for generations of safe and nurturing families. The Holiday Giving Gala included a silent auction and Golden Ticket sales, where money was generously raised to support Childhaven’s efforts.
The Giving Gala also included member donations of new toys for the U.S. Marine Corp Reserve’s Toys for Tots Program, and a presentation by the U.S Marine Corp was moving. The mission of Toys for Tots is to collect new, unwrapped toys during November and December each year and distribute those toys as Christmas gifts to less fortunate children in the community. The primary goal of Toys for Tots is to deliver, through a new toys at Christmas, a message of hope for less fortunate youngsters that will assist them in becoming responsible, productive, patriotic citizens. In addition, WMFHA staff work with health departments in King, Pierce and Snohomish counties to provide training and support to convert apartment communities to smoke-free housing. No-smoking policies protect the health of residents by eliminating exposure to second-hand smoke and provide a healthier living environment for families. The Community Service Committee is just one of many committees that WMFHA members can join and be involved in. We want to thank all of our members who support our community service and charitable programs, for their generosity and their involvement.
For more information on WMFHA, please feel free to call us at the Washington Multi-Family Housing Association at 425-656-9077 or go to www.wmfha.org for more about how to join the association and get engaged today.
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Rental Housing Journal On-Site · November 2015
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Rental Housing Journal On-Site
Will Your Retirement Hit Bottom If The Markets Plummet?
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A Portfolio Done Right Should Shield Retirees From Tumultuous Ups And Downs, Financial Planner Says
all Street hasn’t been for the faint of heart lately. Jittery investors saw the volatile market play havoc with investment portfolios. But while the ups and downs may have created anguish for some, financial planner Bryan S. Slovon says he fielded few if any calls from nervous clients. And that’s the way it should be when your clients are retirees or people nearing retirement, he says. “Retirees really shouldn’t be seeing major changes in the values of their portfolios every time the market takes a huge dip,” says Slovon, founder and CEO of Stuart Financial Group (www. Stuartfg.com). “A well-constructed portfolio for a retiree should shield them from much of the volatility that happens with the stock market.” If their portfolio changed as much as the market did, he says, they need to revisit their allocation plan before something really significant happens. He says portfolios that have an appropriate level of risk – with a percentage of the money in such areas as real estate or fixed annuities – allow retirees to avoid significant losses when the stock market takes a drastic turn for the worse.
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• Annuities. If you want a steady stream of income during retirement, an annuity can be a good choice, Slovon says. Essentially, an annuity is an insurance product that pays income. You buy the annuity, and then it pays money to you on a regular basis for life. You can have either a fixed annuity or a variable annuity.
“It definitely relieves stress for people when they know they have an investment strategy that matches their stage of life,” he says. Any retirees who felt queasy over the recent swings in the market probably have their money invested in the wrong areas, Slovon says. He suggests options that retirees, or those nearing retirement, should look for as they try to figure out how much investment risk is right for them: • Rule of 100. In trying to ascertain an acceptable level of risk, people should look at the rule of 100, Slovon says. For those unfamiliar with this rule, here is how it works: Start with 100 and subtract your age (or, in the case
of married couples, the average of both your ages). The result is the approximate percentage of your investments that you should have in riskier investments, such as stocks. “The rule of 100 is not the end all, but it’s a good long-term financial planning tool that’s stood the test of time,” Slovon says. For example, if you are 60, 100 minus 60 comes to 40 percent risk. “That can vary depending on each person’s situation, but it’s a good place to start,” Slovon says. “Unfortunately, one of the things that can happen is you work with people who offer nothing but risk. They offer only risk because they are part of Wall Street.”
The fixed version pays a set amount, so market performance isn’t a factor, Slovon says. With the variable version, though, you choose from a list of investments and the payout depends on how well those investments do. • Bond alternatives. Bonds can be a handy part of your portfolio, shielding you somewhat when the stock market takes a dramatic tumble. Bonds tend to lose their value when interest rates rise, though, so it’s not a bad idea to consider some alternatives, Slovon says. One possibility is mutual funds because with a mutual fund you are investing in a collection of stocks, bonds or other securities. That gives instant diversity to your portfolio. Another alternative is real estate investment trusts, which are companies that own and usually opcontinued on page 14
Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
Transitioning from T12 to T8, T5 or LED Lighting for Commercial Buildings By Cliff Hockley, President Bluestone & Hockley Real Estate Services
E
lectric lighting is responsible for over one quarter of the energy used in commercial buildings in the USA. One reason why it continues to be a major contributor to operating costs is because many commercial buildings are still equipped with T12 light bulbs. As of July 14, 2012, the U.S. no longer manufactures or imports most T12 lamps. These include most standard four foot T12 lamps, eight foot T12 lamps, and two foot T12 U lamps used in commercial buildings. The EPA recommends retrofitting all T12 fixtures in an effort to reduce the use of mercury and fossil-based fuel, and to support this effort, utility districts have created incentive programs to encourage property owners to upgrade their lighting. T12 light bulbs can be easily retrofitted to T8 light bulbs which are smaller, use less energy, and have less mercury in them than T12 bulbs. The other alternative, not as easily retrofitted, are LED bulbs that have no mercury in them at all.
Definition of lamp types Fluorescent lights are tube shaped lamps with a chemical phosphor coating on the inside of the tube. The have small pins on each end that fit into the ballasts located in light fixtures.
T12 lamps have a diameter of 1 ½ inches (or 12/8th of an inch.) T8 lamps are fluorescent lights one inch (or 8/8ths) in diameter. T5 lamps are 5/8th in diameter. LED lights use light emitting diodes to produce light very efficiently. An electrical current passes through semiconductor material, which illuminates the tiny light sources we call LEDs. LEDs do not contain mercury.
Efficiency The smaller the lamps the more energy efficient they are. T8 bulbs use about 35% less electricity to produce the same amount of light as a T12. T5 bulbs use about 45% less energy than T12s. For some applications, one T5 bulb can replace two T12 bulbs, providing even greater energy savings (a process called “de-lamping.”) The process, however, can be more complex than plugging in a new bulb. Older bulbs, like T12s, used magnetic ballasts while newer, more efficient T8s and T5s use electronic ballasts. T8s can be retrofitted into T12 fixtures. In some cases, changing to T5s requires replacing or rewiring the whole light fixture, adding significant cost and complexity in the interest of improved efficiency. LED lighting The typical T12 four-lamp fixture uses 172 watts of power between the lamps and ballast. LED equivalents
typically use only 50 watts, 71% less energy per fixture. Not only are they brighter per watt, they also last longer than even the preferred florescent bulbs. T8 and T5 bulbs can last up to 4 years maximum, which sounds good until you learn that LED bulbs can last up to 10 years in a new fixture. With replacement lights, there is almost no price differential between LEDs and T5s. With the energy savings being so great the no-brainer is to go with LEDs. In a 2013 article, Michigan-based Hovey Lighting, an energy efficient commercial lighting provider, argued the advantages of retrofitting with direct replacement LEDs (where you don’t need to replace the ballast) over T8s. Here are some of their reasons: “LED Replacement Bulbs are 30% More Efficient So not only do you get more light from a LED replacement bulb, they use less wattage. LED replacement bulbs only use 22 watts vs 28-32 watts with T8 making the LED 30% more efficient.
In order to keep up with LED, you will have to replace the T8 bulbs 3.5 times. LED Replacement No Mercury
Bulbs
Have
One of the most important differences lies in the fact that there is no Mercury or Glass Content with LED lighting. In the State of Washington alone, over 10 Million lamps are disposed of in landfills each year. Those 10 Million lamps hold roughly 400 lbs of toxic Mercury waste that gets deposited each year. Washington State estimates that only 2 out of 10 bulbs are effectively recycled. LED Does Not Give Off UV LED replacement bulbs do not emit any light in the non-visible light spectrum (UV). UV/IR light causes colors to fade in fabrics, signage, while also being the leading cause for eye strain and eye fatigue. Fluorescent T8 bulbs emit UV/IR light. LED Makes More Efficient
Air
Conditioning
LED Still Give Off Light At End-of-Life LED fixtures contribute little to none in regards to heat gain in a room or air A fluorescent bulb at the end of its life is conditioned space. The LED generates very simple to spot, because it is DEAD, less heat. Less heat means that the Air nothing left. A T8 bulb is considered Conditioning system does not have to end-of-life at 60% of its light output, work as hard. which equates to roughly 14,400 hours. This is vitally important if you are doLED replacement bulbs on the other ing a new build or upgrade as you may hand, calculate the end of life at 70% which is approximately 50,000 hours. continued on page 22
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Rental Housing Journal On-Site · November 2015
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Rental Housing Journal On-Site
I
Find Your Life Path and Navigate it Carefully
believe most people eventually arrive at a place in life where they realize that the path they’ve taken to get to their current career destination has been dotted with numerous learning opportunities. Although perhaps not fully appreciated at the time – these shaped and created the individuals they are today. In this month’s writing I rewind my own career and note a few valuable pieces of advice I have picked up along the way.
Be humble. When I graduated college I felt ready to take on…or was it “take over”...the world. It was going to be so simple to obtain gainful employment in any field of my choosing. After all I had this sacred piece of paper called a college degree. I was bulletproof, young, vibrant, and good-looking! Who would turn all that down? Well…quite a few people as it turns out. This is the season when I learned the rewards of tenacity, self-selling, and perseverance and learned how to take “no” for an answer…but the most valuable lesson was never, never, never give up! Watch your step. Understand that politics are everywhere and learning how to navigate
to you…but remember there are steps to getting there. No shortcuts exist… and if they are taken, the stay is usually short-lived. Achieving success takes time, hard work and tenacity. “Do” the work necessary to become an Executive Officer and eventually you will “be” just that. Reversing the order simply does not work.
Be on time. Establish yourself as punctual and you define your image as someone who is dependable, hard working and respectful of others. This also shows self-respect and an appreciation for being organized and in-control. those of the office and workplace is vital to both smooth survival and attaining success. Navigating office politics is a learned art and takes time. Learning different personalities and how they react in different situations is essential for harmony and growth in any office setting. For effective leadership… it is essential.
Clothes make the man/woman. Dress for the next level up. When I began my career in property management back in the early 90s I started as a site manage at age 25. I was leaving the financial services field where my daily
uniform was a suit and tie. This carried over to my new industry as every day I wore my same Wall Street commando outfit and carried a briefcase to the leasing office. Dressed for success, I could place myself in the mindset of achieving and “see” the next promotion in my head. It was and is powerful. What we visualize in our head subconsciously guides our actions.
“Do” then “be”….not “be” then “do”. It is important not to get ahead of yourself. It may look quite impressive to have that corner office given
Stay healthy - eat right and exercise. I have always said that when you feel good you maintain a sense of having a physical edge. And when there is a physical edge, there is a mental edge. Nourishing your body and nourishing your mind with healthy choices is essential to success. Do things that make you feel good about yourself and the universe will bring good things into your life. Smile more, frown less.
continued on page 14
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Rental Housing Journal On-Site
Find Your Life Path ...continued from page 5 Develop consistency and maintain balance. Anything done to excess is potentially harmful. Seek moderation and balance in your work and home life. Obsessing about the job or personal issues can be harmful to both mental and physical health. Seek harmony through relaxation techniques. Take that vacation you need. Turn off the phone and un-plug for a while. It can be rejuvenating!
Stay true to your moral compass. Be true to yourself and you can be true to others. Be false and the opposite will follow. Do not give in to gossip. Follow the golden rule and never compromise your integrity or your word. Do it right the first time. My dad, a weekend carpenter, is fond of saying “measure twice and cut once”. Striving to produce top quality work reflects a pride in your performance. Preparing in advance reduces stress and lends to better output and production. Strive to “put your signature” on all you do. Choose your friends wisely. It has been said that a person’s character is reflected in the character of the friends he or she keeps. Surround yourself with people that keep you feeling and acting positive and you will thrive in good times and weather the low-times. Fly with high altitude people and you will attain new heights yourself.
Will Your Retirement ...continued from page 10
And lastly, protect your reputation. The only thing more difficult than establishing a good reputation is recovering from a bad one. Making careful and wise decisions regarding your business practices, your personal choices, and your private life will go far in establishing how you are perceived by associates, family, friends and within the local business community. By Scott Arena 2015 Multifamily NW President
erate income-producing real estate. These could be office buildings, apartment buildings, shopping centers or other types of property. “Whether you are a few years away from retirement, or already retired,” Slovon says, “you want to make sure your money is properly situated for steady cash flow, for health care costs or for that proverbial rainy day. It should look very different from when you were still saving for retirement.”
com), a boutique financial planning firm exclusively serving retirees and soon-to-be retirees in the District of Columbia metro area. He is a financial planner specializing in retirement planning and wealth preservation to a select group of clients. He currently holds his Series 65 license and is a Registered Financial Consultant as well as a Comprehensive Wealth Manager offering investment advisory services through Global Financial Private Capital, an SEC registered investment advisor.
About Bryan Slovon Bryan Slovon is the founder and CEO of Stuart Financial Group (www.Stuartfg.
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
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pse.com/multifamilyretrofit Rental Housing Journal On-Site · November 2015
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Rental Housing Journal On-Site
A
Americans Think Homeownership is a Sound Investment
vast majority of Americans believe that buying a home is a solid financial decision, and most believe they could sell their home for at least its initial purchase price, according to a new survey from the National Association of Realtors®. The 2015 National Housing Pulse Survey also found that a preponderance of Americans think that now is a good time to buy a home. The survey, which measures consumers’ attitudes and concerns about housing issues in the nation’s 50 largest metropolitan statistical areas, found that more than eight in 10 Americans believe that purchasing a home is a good financial decision, and 68 percent believe that now is a good time to buy a home. Seventy-one percent believe they could sell their house for what they paid for it, a jump of 16 percentage points from 2013. When asked for reasons about why homeownership matters to them, respondents’ answers did not change significantly from past years. Building equity, wanting a stable and safe environment, and having the freedom to
choose their neighborhood remain the top three reasons to own a home. “Homeownership is part of the American Dream, and this survey proves that dream is alive and thriving in our communities,” said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. “Realtors® believe that anyone who is able and willing to assume the responsibilities of owning a home should have the opportunity to pursue that dream in a safe, responsible way, which is why NAR advocates homeownership issues and educating
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potential buyers about achieving their property investment goals.” The number of renters who are now thinking about purchasing a home has increased since the last survey in 2013, up from 36 percent to 39 percent. Sixty-one percent of renters stated that owning a home is a priority for their future. According to the survey, 80 percent of respondents believe that pre-purchase counseling programs and classes are very or somewhat important. Forty-five percent of homeowners who said they did not take a counseling program, reported they would have
taken part in one had it been easily available to them. Attitudes about the housing market have improved in recent years. Forty-nine percent of respondents indicated that they feel activity in the housing market has increased in the past year, compared to 44 percent in 2013 and 12 percent in 2011. Eight-nine percent expect home sales in their area to either increase or remain the same. Concern about foreclosures has also declined, with only 15 percent of respondents indicating that foreclosure is a major concern. In addition to improved attitudes about the housing market, survey participants also showed an improved outlook regarding the economy. Only 36 percent think that job layoffs and unemployment are a big problem, a substantial drop from 45 percent in 2013. Perceived obstacles to homeownership have remained mostly unchanged compared to recent years; 78 percent of respondents point to college debt and continued on page 18
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
5 Real Estate Investment ...continued from page 7 Are they going to be involved in a way that will make sure the deal goes well, or are they just on the periphery and their name is just being “borrowed” for marketing or window-dressing purposes? Once those key questions have been answered and you understand who is involved and how, and you have done some basic due diligence on them, then you are able to determine if you want to proceed with further due diligence on the deal or investment. Even though you may have a long, successful track record of doing multiple deals with individuals, it never hurts to check up on them again to see if things have been going well in other aspects of their lives. Allow me to share a brief story to illustrate this point. A client of mine indicated that he had made a series of large-dollar, hard-money loans to a rehabber who always got the properties finished in great condition, and they sold for top dollar. After doing several of these deals, he began to feel very comfortable with this borrower.
Unbeknownst to him, this borrower was having marital problems. Once those problems grew to the point where domestic relations court and lawyers became involved, this individual’s rehabbing business fell apart, and one of my client’s loans was put in a great deal of jeopardy. Fortunately, things worked out and full payment was made, but it was late and destroyed my client’s belief that this rehabber could be counted on to perform and pay on time. Make sure you develop the type of relationship with the individual with whom you are doing business that allows you to look them in the eye and ask them how they are doing and what else is going on in their life so you can pick up on what issues may be on the horizon that could affect the way you are doing business with them.
Organize Your Deal Paperwork There is one last fundamental principle that investors need to understand that I want to share with you. You need to organize your paperwork. You need to have all your baseline transactional documents saved in Word format
so you can easily do your own word processing and create nearly-completed drafts of your documents to be reviewed by the appropriate outside professionals and other parties to the transaction (yes, get a professional review each time). By always working from a baseline document, you have a template in place so you aren’t reinventing the wheel every time. You are also able to maintain a greater degree of privacy and security over what you’ve done with other deals. I often see individuals who grab the last document they used (last lease, last trust agreement, last operating agreement, etc.), and they begin making edits to that one for the next deal, not realizing that there may be holdovers, both digitally and facially, in tvhat document. Has that ever happened to me? Embarrassingly, yes. I have taken steps, however, to prevent it from happening again in the future. That’s why I’m sharing this concept with you. Whatever the type of document, whether promissory note, mortgage, deed of trust, option agreement, due diligence checklist, or borrower ques-
tionnaire and loan application, have them saved in a baseline format that you can quickly modify it for the particular deal on which you are working. This will allow you to be much more organized as you prepare these documents on your own to be sent to your lawyer or other licensed professional for review and then used in the transaction. Remember, it’s all about getting good at the basics. Make sure you master the basics of real estate investing, establish your parameters, do thorough due diligence regarding those with whom you are working, and work from the same, consistent set of documents so you can continue to repeat your successes.
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Rental Housing Journal On-Site
Americans Think Homeownership
...continued from page 16
student loans as the main obstacle to making a home purchase affordable. Seventy-six percent of participants said they have a full-time job but still did not make enough money to purchase a home. Seventy-four percent believe they do not have enough money for a down payment and closing costs. As the market has improved, concern about the cost of housing has increased. Two-thirds of survey participants said that home prices are more expensive than they were a year ago. There is additional concern over the lack of available housing; 41 percent said the lack of affordable homes is either a very big or fairly big problem in their area, an increase of 9 percent points from 2013. For adult millennials under the age of 35, the burden of student debt is their chief concern, with 86 percent of respondents naming college debt as an obstacle to homeownership. Over half reported that their housing costs are a financial strain on their budget, 65 percent are concerned about high rental prices, and 60 percent are concerned about high home prices. However, millennials tend to have a more upbeat and positive view about the future of the nation than older Americans, with 42 percent of millennials saying that the country is headed in the right direction compared to only 20 percent among those aged 50 and older. The 2015 National Housing Pulse Survey is conducted by American Strategies and Myers Research & Strategic Services for NAR’s Housing Opportunity Program. The telephone survey polled 1,000 adults nationwide in the 50 most populous metropolitan statistical areas. An additional 250 interviews were conducted with millennial adults (born after 1981) from the same geography. The study has a margin of error of plus or minus 3.1 percentage points. The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.1 million members involved in all aspects of the residential and commercial real estate industries.
Long-term Hold Investing ...continued from page 1 and appreciation potential will compensate for the initial lower return. Buying in a neighborhood, that you feel may decline, is a big mistake. You can change many things about a property, but you cannot change its location.
Quality of Construction Properties that are built in quality materials and workmanship tolerate the abuse of tenants, time and the elements much better, than marginally constructed properties. Tile, metal or shingle roofs last longer and require less maintenance than flat roofs. Copper plumbing is preferred to galvanized plumbing. Tenants damage themselves, rather than interior walls, when they punch a plaster wall. Solid wood cabinets will last decades longer than press-board or veneer cabinets. Even if you intend to remodel a property, choose one that has good “bones”. Target Tenant When you preview properties, form a realistic mental picture of who would be a potential tenant(s) for that property. Is it located near a college or a senior center? Is there a major employer or a hospital nearby? Does the rental have a private outdoor patio? Covered or enclosed parking for a newer car?
With the number and size of bedrooms, how many people could realistically live in the space long term? What does the property lack, that the potential tenant might desire? Now that you have formulated a mental picture of your tenant(s), think how it would be interacting with that tenant(s), or a succession or variation of that tenant(s), for the next 18 years. If the mental picture you are formulating is not pleasant, keep shopping for the right property.
Financing Investor loans are fixed rate amortized loans, up to 30 years, for 1-4 family properties. When you purchase 5 unit or larger properties, it is considered a commercial loan. Institutional lenders fix the interest rate for 3-10 years, and then it is variable or renegotiable, on commercial loans. Sometimes you can find a fixed 15 year fully amortized commercial loan. If you are going to hold a property long term with a commercial loan, develop a game plan for dealing with interest rate adjustments or renegotiation, before purchasing. Formulating a long term rental property real estate investment strat-
egy involves more than analyzing the numbers on paper. Location will be a huge factor in future appreciation and convenience of management. Quality of construction will determine long term maintenance and capital expenditures. If you self manage your properties, the tenants you choose and your relationship with those tenants, will contribute or detract from your quality of life, for decades. Securing stable long term financing, while interest rates are historically low, will insure strong cash flows until the properties are paid off. Incorporate the importance of location, quality of construction, target tenants and financing strategy into your long term invest portfolio strategy. Jade Bossert is a licensed Real Estate Broker in Tucson, Arizona that specializes in multifamily property sales. She has been successfully selling real estate in Arizona for over 35 years. She can be contacted at 520-797-6900 or tucsonrealestate@mindspring.com.
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Rental Housing Journal On-Site is a monthly publication published by Professional Publishing Inc., publishers of Real Estate Opportunities in Investing & Real Estate Investor Quarterly
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
Are You Leaving Money ...continued from page 1 maintained is the key to managing long term rental increases. Tenants will not be as hesitant to pay more if you treat them with respect and keep the property looking well maintained. A clean property with great looking landscaping, a current paint job without any mold or a refinished roof will net you more rent. Yes, it will cost more to maintain, but in my opinion the payback will be in the form of higher rent, longer tenancies and lower turnover costs. Don’t forget, tenants want to be appreciated just like you do. If you have a property manager you work with, have them help you draft an annual budget and forecast the annual increases. Think into the future; plan your rent increases and capital expenses two to three years ahead so you can better control your long term destiny. Commercial: Owners of office, retail or industrial buildings need to think through the same process. They need to develop a plan that lasts through the initial lease term and includes details regarding the tenant’s options to renew, (since commercial tenants tends to stay for 3-10 years, even more planning is involved in controlling the costs and the rental increases). Annually, property owners need to review the comparative position of their property. They need to be realistic regarding the value of their real estate. Just as with residential investments, they must consider the condition and location of their investment. Commercial landlords need to have a long term plan in place that keeps rent increasing on an annual basis.
If you make a concession regarding a starting rent to get a tenant in, plan to step it up to market value within three years. Aim for a minimum of 21/2 % to 3% in annual increases based off the pre-negotiated step increase or percentages that increase on the basis of a business’ success (typically used by retail businesses). I am not a huge fan of CPI (consumer price index) increases because the government has too much control of those numbers. Don’t permit expense caps unless you can stay ahead of the expenses, regardless of the caps. Landlords and their property managers should not automatically cave into very low or zero rent increases at lease renewal time, even if the tenant threatens to move out. Run realistic scenarios regarding the cost of re-ten-
anting. Include vacancy rates, leasing commissions and tenant improvements in these calculated scenarios. Consider also, the moving costs an existing tenant will face. Understand their business and business goals, their staffing and their success at your location. Most importantly while they are renting from you, fix repairs that are required by your lease, and fix them quickly. Show your tenants you appreciate them by treating them how you would want to be treated, otherwise they will blame you and possibly hold back rental payments, do the repairs themselves or, worse yet, move out. We once had a client who took two months to repair the air conditioning units on a newly leased space. It was wintertime and it was raining; the
tenant was livid and hired an attorney to preserve their rights under their lease. The landlord wanted absolutely the lowest price for the repairs and getting the lowest price took over 30 days of negotiating with vendors. The tenant almost moved out because it took so long, and alternative cooling systems needed to be provided. The experience drove them to become a hostile tenant. These bad feelings could have been prevented and we could have agreed on rent increases and lease renewals with this tenant if the landlord would have allowed the property manager to be more proactive. Note: Typically property managers have vendors they work with that are reasonably priced who respond quickly, but they may not be the absolute – lowest, period.
Conclusion Inevitably, attention to detail, future planning, a current understanding of the marketplace, and a fair and realistic approach to taking care of your properties will yield higher returns for real estate investors. A key component to profitability is a focus on current and future rental incomes. Sticking to the basics with an annual planning process and taking care of your tenants will increase your annual yield and keep reliable tenants in your properties.
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Rental Housing Journal On-Site · November 2015
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Rental Housing Journal On-Site
9 Tips For Getting Started in ...continued from page 5 they are drawn to the certainty and proven success of the individual that is in front of them. After the new investor has any success with one strategy they often develop the idea that other strategies are less profitable, more difficult to execute, and generally inferior to the one they are using. Suddenly they develop a certainty that their particular strategy is the supreme strategy so there is no earthly reason to even consider anything else. Following a one particular strategy as a beginning investor can be extremely valuable for the overwhelmed new investor since it allows him to really, really learn how a particular technique works. The downside of being so narrowly focused is that it limits the new investor’s opportunities. If you believe that your investing strategy is the only strategy worth pursing, to the exclusion of all others, you will have a narrow viewpoint of what a “good” deal is, and pass up a lot of opportunities to profit with another strategy. Don’t get so stuck in a mindset that you can’t even see good deals if they are out of your comfort zone. That being said. You can’t try to participate in a dozen strategies at once… see number 4.
Have A Plan All businesses need a game plan. You can’t just wander aimlessly hoping to find a deal. You also can’t rent an office, decorate it and then sit behind your desk waiting for the phone to ring. It just doesn’t happen that way. You need to decide upon a strategy,
learn what you need to do, set your goals and make it happen! Have a plan. Pass out 50 business card a week (or whatever goal you decide is appropriate for the amount of business you want to generate). Talk to 50 people by phone. Make 10 offers a week, spend $100 a month on advertising – whatever your goal is, make it happen every single week – day in and day out – work the market. Eventually you will start to see results.
Surround Yourself With Like-Minded People Real estate investing can be “creative” and a bit non-traditional, which means that this profession won’t appear on the Forbes top 100 professions. Because those participating in real estate often do so by working for a corporation or as a realtor, investing as an independent isn’t a main stream career choice. Thus, most people you speak with will tell you it won’t work. Some of your friends might even ask if you bought a course from a latenight television “guru.” They may even laugh and call you “gullible.” Attorneys and other professionals may denounce it because it sounds unusual. Keep in mind that these people are either threatened by their own lack of success or are looking to protect their own butts. The first thing you should do is join a local real estate association connected to National REIA. These associations will help you keep your thoughts in the right place and prove to you that
investing with a plan really does work. You will be connected to investors that have had great successes, those that can share what they learned from their not so successful deals, and to those who are just starting in the business just like you.
Be Persistent Anyone who’s ever been in sales will tell you that being persistent is the key to success. Just because a person says “No” to an offer the first time doesn’t mean that’s the final answer. Waiting a couple of weeks and checking back to see if the situation has changed can make all the difference, or changing the terms of the offer slightly to accommodate the seller can jump start negotiations. Have a good follow-up system for tracking contacts, leads and conversations you’ve had with both buyers and sellers. You’ll get to the point where you’re so busy you can’t possibly remember all the conversations you’ve had with everyone – it’s important to be able to pull up that information so you know where you are in the negotiation process. Anyone who has ever been in sales will tell you that few deals are ever made on the first try. Use a system that allows you to schedule follow ups and keep a running history of calls and conversations. One of the National REIA benefits is a huge discount on Realeflow, but you could also use ACT by Sage, an Outlook or Gmail plug-in or one of hundreds of apps for your phone or iPad. It doesn’t matter
what soft ware you use as long as you actually use it.
Have a Team On Your Side Don’t wait until you have a big deal pending and need to ask questions before assembling a team you can turn to. You need to go out and cultivate relationships with reliable professionals you can depend on. Here’s who you need on your team: • Attorney – preferably someone who’s familiar with the needs of a real estate professional. Make sure they understand the specific real estate strategy that you are using and that they’ve had some experience in that specific strategy. You don’t need to know all of the real estate laws that will affect your business but you need an advisor who does. • Insurance Agent – you need one that also understands your strategy and investors in general. Make sure the insurance products they sell are right for investors. We have needs that are far different than your average home owner. • CPA or Accountant – find one that’s a real estate investor – they’ll know the ins and outs of the business and when to be aggressive. You can lose $1,000s in deductions and tax breaks without a professional that knows the most up to date tax law as it applies specifically for investors. comtinued on page 23
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
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Rental Housing Journal On-Site
Transitioning from T12 to T8
...continued from page 11
be able to utilize smaller A/C systems to heat the same area.
at the time that you are ready to make a retrofit decision. There are currently no federal or state tax credits available for commercial building retrofits.
LED Provides 70% More Light
The beam angle of the LED replacement bulb is 110 degrees. This means that all of the light generated by the LED bulb is focused in the 110 degree area. The T8 bulb on the other has a beam angle of 360 degrees. That means the majority of the light generated by the T8 bulb is going out the sides and top of the bulb, which does not benefit the intended target.” This may lead you to consider retrofitting your commercial building to save energy. But is the initial investment worth it? In our office building the owner sends a technician to replace burnt out light bulbs monthly. At the very least, the longevity of LEDs would save this labor cost.
Retrofitting The decision to retrofit a building can be a difficult and potentially expensive one, but many resources are available to help. In the Portland, Oregon / Vancouver, Washington metro area companies like Pacific Lamp Wholesale, Phoenix Electric and Pacific Energy Concepts lead the way in energy retrofits. They conduct a lighting retrofit analysis, draft an implementation plan and introduce owners to the applicable cash incentive programs offered by the Energy Trust of Oregon (or the local electricity supplier / utility district). These programs change all of the time and need to be reviewed
Recycling old lamps As previously mentioned, all fluorescent lights contain mercury, and the ballasts for old long-tube lights contain PCBs, so when you do decide to discard your old fluorescents, remember to recycle rather than tossing them in the trash. For large retrofits, the company you contract with will most likely dispose of the old lamps, but for smaller jobs, many local governments and commercial retailers offer no cost recycling drop-offs. Among the larger retailers, Home Depot, IKEA, and Orchards Supply Hardware offer fluorescent recycling. Another option is your city’s hazardous waste facility. It makes total sense to retrofit buildings and even portions of buildings when you are leasing to a new tenant so you can include it in a tenant improvement plan. Retrofitting the lighting in commercial buildings is a logical step since it saves you money on your electrical bill while improving the lighting. You use less electricity and it makes your building more attractive to lease and easer to work within. So consider retrofitting your lighting as you make decisions to update your commercial building, especially when you are moving in new tenants. Tie the cost to your tenant improvement package.
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
9 Tips for Getting Started in ...continued from page 20 • Contractor – you need a reliable professional that shows up on time, completes the job within budget and knows how to make suggestions that will save you money. Free estimates don’t hurt either. • Mortgage broker, private money lender, hard money lender or other money professional – find one that’s experienced with investors, knowledgeable and creative. You can never have too many people who are willing to fund your deals. • Mentor – someone who’s been there and done that. • Title or Escrow Company – find one that caters to investors. Make sure they understand double closings, land contracts, etc. Your local REIA group has local and national providers to use to build your team. These professionals work daily with investors and understand their special needs and requirements. It is a beautiful day when you realize that you can find people to add to your team that can do all of the things in your business that you hate.
Don’t Waste Time With Unmotivated Sellers This is possibly the most common mistake new investors make. Some beginning investors waste time talking to sellers who are only marginally motivated. Even worse, they drive by the house and look for comps without even talking to the seller first. There’s a dif-
ference between being persistent with a seller or buyer who hasn’t yet made up their mind about what they want to do and dealing with a seller who really has no intention of selling anytime in the near future. Don’t waste your time if the seller falls into the latter group.
Never Forget That Real Estate Is Really About People In the end real estate isn’t about the land, the house, or even the money. On a practical note and an altruistic note, it really is all about the people. Many people go through their first years of real estate investing making all their offers based on the properties. This is a huge mistake. These investors worry about making really low offers because they are concerned that it will make them a “bad” person to “take advantage” of a seller, especially one in a tough situation. What they don’t understand is that many people will happily forgo profits if other benefits are more important to them. Some people need speed, some need ease of exit, some need someone else to blame. I’ve heard more than one investor tell a story about a seller who happily sold below market because their son, sister, nephew – pick a relation – wouldn’t pay rent or move and they honestly just wanted to sell the house and let you deal with the situation! There is a scale of client motivations, the Hustead Scale, that concisely describes the level of motivation a seller has. The most motivated sellers will pay to get out of a house. Something in
their life makes being out of that property so important that they will pay you to take the property. Many investors make offer after offer, receiving rejection after rejection, never bothering to ask the seller what they want, assuming they already know. Making offers on the properties because you think you understand the value is far less effective and far less profitable than making an offer that provides the seller an option they didn’t know existed, a solution to their problem. The moral of the story here is that if you listen, and I mean REALLY listen, and try to solve the seller’s problem you will always make more money than if you try to just apply your cookie cutter approach. Zig Ziglar used to say “You will get all you want in life, if you help enough other people get what they want.” He’s right. This business, at its core, is about people. We provide housing, we provide solutions, and sometimes most importantly, we provide options they didn’t know were available. There you have it. Follow these nine simple steps and before you know it, you’ll be an outstanding real estate investor.
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Rental Housing Journal On-Site
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
31ST
December 8, 2015 At the Washington Convention Center Seattle
TRENDS is the oldest and largest running Northwest Rental Housing Education Conference and Trade Show. This year TRENDS will be celebrating its 31st year of production in a very big way. The conference draws over 1,500 attendees and hosts the biggest industry trade show with 215 exhibits. The TRENDS education schedule offers 40 outstanding workshops. This year’s TRENDS should be the biggest conference ever.
Who attends TRENDS? Rental housing owners; property managers; leasing agents; maintenance personnel and portfolio managers all attend TRENDS, making it the premier annual education conference and trade show for rental housing ownership, management and maintenance in the Northwest.
This year’s conference will feature several well-known national and regional speakers—see schedule on page 35—as well as several local industry practitioners. The TRENDS '15 workshop schedule is one of the best offered. Please visit the TRENDS website at www.trendsnw.com for more information. The $65.00 admission to TRENDS 2015 includes the trade show, unlimited workshops and lunch. After November 30, 2015 the price of admission is $80.00. TRENDS also offers Washington State Real Estate Clock Hour (3 CRE credits) workshop credits for an additional $25.
• Rental Housing Association of Washington (RHA)
• Washington Rental Owners Association (WROA)
Visit the TRENDS ‘GREEN ROW’ where Energy Conservation products are featured. Special Thanks to Puget Sound Energy.
• The Institute of Real Estate Management (IREM)
Thanks to the TRENDS 2015 Day of Show Sponsors: A C Moate Industries ConService Diamond Roofing First Choice Remodeling
TRENDS is also national award-winning event. TRENDS also holds the distinction of being the longest running a event at the Washington Convention Center.
Special Thanks to TRENDS ‘15 Premium SIGNATURE Sponsors: • Buy-Rite Carpet Wholesaler
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800-335-2990 or email: events@RHAwa.org.
For booth information call 206-779-5890.
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Letter from TRENDS ‘15 President The TRENDS Board of Directors is pleased to offer you the 31st Annual TRENDS Education Conference and Trade Show! We encourage you to seriously consider attending TRENDS 2015. We strongly believe that TRENDS can augment your continuing education in keeping up with our changing industry.
The TRENDS Trade Show also provides an opportu-
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Take time to visit the more than 215 exhibit booths in the TRENDS 2015 Trade Show! Rob Trickler
The strength of TRENDS has always been the outstanding educational opportunities offered at the conference. The TRENDS Board works very hard to provide quality speakers and up-to-date subjects for every attendee: Owners; Portfolio Managers; On-site Managers; Leasing Agents and Maintenance Managers. I believe the TRENDS 2015 Education schedule is one of the most dynamic and timely ever offered. We are particularly proud of this year’s workshop selection, which includes topics that relate to our changing economy and the ‘Forecasting’ of our industry’s future. This year's program features workshops on using ‘Social Media,' as well as workshops focused on leasing, marketing and selling skills. Feel free to attend any of our outstanding workshops—it’s your choice! See the complete TRENDS education schedule at www.trendsnw.com.
The goal of everyone
on the TRENDS Board is to keep our industry moving forward. The TRENDS conference includes many successful partnerships, including the Rental Housing Association of Washington (RHA), Washington Rental Owners Association (WROA) and the Institute of Real Estate Management (IREM). Finally, we are very proud that TRENDS is the longest running and continuously produced event at the Washington Convention Center. Hope to see you December 8th. Rob Trickler, TRENDS, Inc. President Representing, Washington Rental
Owners Association (WROA) Rental Housing Journal On-Site · November 2015
TRENDS 2015 Board of Directors President • Rob Trickler (WROA)
Vice President • Sean Flynn (RHA) Day of Show • John Hatton (IREM) Secretary • Sherry Zane (RHA) Treasurer • Bill Jackson (RHA) Board Member • Sherrie Clevenger (IREM) Board Member • Errin Reynolds (WROA) Board Member • Rob Kellum (IREM) Board Member • Darlene Pennock (WROA)
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Rental Housing Journal On-Site
8:15AM - 9:05AM • TRENDS DETAILS—WORKSHOP DESCRIPTIONS AND SPEAKER BIOS Landlord/Tenant Law #1 • R.E. Clock Hours available Speaker: Chris Benis, Attorney This session is an update of the landlord/tenant laws that affect your business. Chris will discuss how to avoid legal hassles, the value of documentation and your rights as a landlord. This workshop will give you a strong base to make daily decisions upon. Chris Benis, Attorney Christopher T. Benis is a partner with the law firm of Harrison-Benis, LLP, which maintains offices in Seattle. Mr. Benis attended the University of Washington, where he received a B.A. in Political Science, a Master of Urban Planning, and J.D. from its School of Law. In his law practice, he represents brokerages, design professionals, and construction companies. Mr. Benis is a regular speaker and author on topics related to property management. He has spoken at TRENDS many times and authors a monthly property management column in the RHA's UPDATE newspaper.
The HUMAN APPROACH to Dealing with Difficult Residents
Debbie Green Deborah (Debbie) Green, ARM® is a Community Manager in Downtown Seattle with over 20 years of Real Estate Property Management in West Coast markets holding various titles and serving on multiple committees. While she manages communities she co-authors the policies and procedures manual for Essex Property Trust, serves on the Spirit Committee, mentors new and existing employees, assists with in-class training programs, is a member of the WMFHA Membership Committee, and volunteers for IREM at various events. Tali Reiner Tali Reiner is the Investment Manager for Indigo Real Estate Services.
Ms. Reiner has been a regional manager for five years. Her portfolio has included HUD, LIHTC, transitional housing, homeless housing, senior housing, conventional, and commercial properties in Hawaii, Washington, Oregon, Georgia, and Indiana. Currently she manages over 2,200 units with approximately 65 employees in three states. Ms. Reiner has had direct experience working through fair housing complaints, human rights commission complaints, small claims, Better Business Bureau and HUD complaints. As a regional manager she has dealt with complaints that have escalated because the manager was unable to resolve them on-site.
Speakers: Celeste Pettie, Debbie Green, & Tali Reiner Understanding and implementing the law or company policy in dealing with a difficult resident is straightforward. Managing or working with difficult residents on a one-on-one personal level requires a very different set of skills. This panel of seasoned property managers will share how to handle and work with difficult residents. They will discuss the limits/value to negotiating, conceding and the value of empathy. Just how friendly should you become with your residents? Is it easier for you to be right or nice? Feel free to bring any interesting or unusual stories illustrating the limitations and/or advantages of employing the human approach to dealing with difficult residents. Celeste Pettie Celeste Pettie is a native of the Northwest and ‘formally’ began her property management career 12 years ago. In fact, she started working within the management field when she was only 15 years old, helping her mother clean units at the apartment community her mom (Marie Pettie) managed.
Decades later, Ms. Pettie is still working at her mom’s fi rm, Safe Harbor Real Estate, managing properties in the Pierce and South King County.
Making a Difference through Your Customer Service! —aka—Added Value through Resident Retention Speaker: Tina Gordon Excellent customer service is about attitude and the power of our voice. It must be genuine and authentic or the customer will feel the resistance from you. We will explore the difference between supplying the expected, and offering beyond the customers’ expectations. We will talk about the impact of the WOW affect, and how easy it is to offer on a daily basis. Let’s not just SHOW UP, let’s BE THERE. This class promises to energize you, empower you to make a difference, and have fun while doing so. Tina Gordon Tina Gordon began her career in property management in 1985; moving up through the ranks on-site, and at the corporate level. Ms. Gordon has received numerous awards and recognition through her career over the past thirty years. Following her passion for training others within our multi-family industry, Ms. Gordon has addressed many audiences including presentations at TRENDS, WMFHA Educational Conference, and Lake Washington Vocational Technical College. Ms. Gordon has also spoken for several local industry associations and for various Seattle metropolitan management companies. Ms. Gordon has directed training departments at two Seattle based property management companies, as well as operating her own local training and consulting company.
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
8:15AM - 9:05AM • TRENDS DETAILS—WORKSHOP DESCRIPTIONS AND SPEAKER BIOS Closing Leases with Confidence—For Large & Small Properties Speaker: Jen Piccotti The rental housing market is more competitive than ever! And while we’re working harder for leases, they can happen more easily if the right balance of connections occurs. Learn a winning strategy, gain more confidence, and address what prospects need in order to feel excited about leaving a deposit at the end of their visit. Jen Piccotti Jen Piccotti heads up client support for SatisFacts, including developing dynamic, practical and effective educational programs and resources, conducting resident feedback analysis, directing customer experience re-design, and providing digital strategy coaching. Ms. Piccotti has over two decades of customer loyalty and process efficiency experience. A noted author, keynote speaker, and highly followed blogger in the multi-family industry, Ms. Piccotti has spoken at such events as the NAA Education Conference, NAA Education Institute (NAAEI), AIM: Apartment Internet Marketing, and the Multifamily Social Media Summit. She can also steep you a mean cup of tea.
McKenna Morrigan McKenna Morrigan is Senior Associate for the Cascadia Consulting Group. Ms. Morrigan provides Cascadia’s clients with research, analysis, program design, and coordination services. She is passionate about her current work designing, implementing, and evaluating innovative multi-family recycling programs in Washington, California, and Arizona. Ms. Morrigan brings expertise in community-based social marketing, community engagement, market research, program design and evaluation, and has worked on a wide range of environmental issues, including recycling and waste prevention, product stewardship, clean energy development, and energy conservation. Ms. Morrigan has a master’s degree at the University of Washington’s Evans School of Public Affairs. She also holds a B.A. in cultural anthropology from Brown University. Joel Kohlstedt Joel Kohlstedt is an Education and Outreach Coordinator for Waste Management. He leads tours of WM’s Cascade Recycling Center, coordinates outreach for WM’s Recycle Corps summer internship program, and carries out outreach programs within the Puget Sound region to increase recycling at residences, commercial and multi-family properties. Mr. Kohlstedt most enjoys working with schools and identifying new diversion potential, and is always on the lookout for opportunities to use encouraging, positive, sustainable behavior change for new programs in the community.
TRASH—Turn Your Trash into Gold while ‘GOING GREEN’ Speakers: Sumer Bradley, McKenna Morrigan, & Joel Kohlstedt Learn how you can reduce your property’s garbage bills, improve property cleanliness, and enhance resident satisfaction through recycling and waste management programs. Panelists will share tips, tools, and new approaches that have helped Northwest property managers save time and money while achieving better results. Sumer Bradley, CPM® Sumer Bradley, CPM® of Alliance Residential Company began her property management career in 1997, and has been on the fast-track ever since. Over the course of the last 10 years she’s been a Regional Manager overseeing multiple states, recently transitioning to Alliance Residential Company to further develop her talents and opportunity for growth. With a Bachelor’s Degree in Speech Communications from Portland State University, and the IREM CPM® designation, Ms. Bradley continued to elevate her career to new levels and successes. Ms. Bradley has served on multiple committees with IREM, Multifamily NW, and Washington Multi-Family Housing Association. In addition, she’s passionate about bringing volunteer and community outreach to life within our neighborhoods in the Pacific Northwest.
Rental Housing Journal On-Site · November 2015
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Rental Housing Journal On-Site
9:30AM - 10:20AM • TRENDS DETAILS—WORKSHOP DESCRIPTIONS AND SPEAKER BIOS—CONTINUED Landlord/Tenant Law #2 • R.E. Clock Hours available
Travis Andrews
Speaker: Chris Benis, Attorney (Speaker's Bio on page 26.)
Travis Andrews is a commercial real estate broker at Paragon Real Estate Advisors. He represents owners in the sale of multi-family assets and development sites in the Seattle Metro area, as well as working with select buyers on acquisitions. Mr. Andrews teamed up with Eric Smith in 2013, and they have closed over $40 million in apartment transactions throughout the city in the last year.
This session is an expanded view of the landlord/tenant laws. Mr. Benis will discuss the technical nuances of evictions, fair housing, advertising, and liability issues. Mr. Benis will share ideas that can save you both time and money. This update of the most current and reliant laws will be useful in your day-to-day operation.
What Direction Are Property Values Moving? Has the Regional Market Peaked? Speakers: Cliff Ridgway, Bob McGrouther, & Travis Andrews What direction are property values moving? And, has the Northwest housing market peaked? Our panel knows the Northwest apartment market very well. These industry experts will conduct a round table discussion sharing the current pricing trends of apartment buildings in the Northwest market. As we know, the multi-family housing market in the Northwest is strong. The questions are: How long will it last? What’s been the impact of the current market on property values? Is the market overbuilt? Is now a good time to buy and/or sell? How do you value a property? Cliff Ridgway Cliff Ridgway joined Foundation Bank in 2011 as Senior Relationship Manager with 30+ years of commercial lending experience. He worked at various banks including Rainier/Security Pacific, Pacific Northwest Bank, Sterling Bank and Seattle Bank. While at Seattle Bank, he held the position of Business & Community Banking Division Manager having started their Business Banking Division in 2007. Mr. Ridgway’s lending experience has included business financing, commercial real estate (owner and non-owner financing), multi-family projects, construction and refinance, and Community Reinvestment projects. While he has financed projects throughout the Puget Sound region, his main focus has been Seattle, Eastside, South King County, and Pierce County areas. Cliff graduated from Washington State University with a degree in Economics, and from Pacific Coast Banking School. Bob McGrouther Bob McGrouther is a Vice President and Commercial Lending Officer with Luther Burbank Savings. In 2008 Mr. McGrouther opened a new multi-family lending office and platform in Bellevue, WA for Luther Burbank Savings. Prior to Luther Burbank Savings, Mr. McGrouther opened offices and platforms for World Savings and Wachovia Mortgage Corporation in Bellevue. Mr. McGrouther’s offices have funded over 2,500 multi-family loans in the greater-Seattle area over the last 22 years.
Prior to joining Paragon, Mr. Andrews worked for a private developer in Seattle where he was responsible for sourcing acquisitions for new development and existing asset opportunities, valued at over $65 million and representing 350 units. Mr. Andrews received his BA from the University of Washington Foster School of Business, with an emphasis on Sales and Marketing. Additionally, he completed the UW Commercial Real Estate Certificate Program to further his industry knowledge and network.
The Price Is Always Right! Pricing Strategies for Large & Smaller Properties Speaker: Kate Good Join Kate Good as she presents a solid strategy for maximizing your property’s income. Once you determine the right price, you have to sell it. And yes, we do mean the TV game show ‘The Price is Right.’ Relive Ms. Good’s experiences as a contestant on this classic shopper’s duel over dollars, and take away sensible lessons that apply to successful pricing strategies in our industry as well. When the price is not right for your property, you know it—but do you know what to do about it? Find out at this entertaining mash-up of game show and marketing gamesmanship. Ms. Good made it to the “showcase showdown” during her appearance on the show; so clearly, this woman knows her pricing strategies. Kate Good Kate Good has been leasing apartments her entire adult life. She quickly gained recognition from her employer, Trammell Crow, as the number one leasing consultant by leasing 52 apartments and closing 48 renewals in one month! Her expertise and enthusiasm took her up the ladder in the corporate world. Thirteen years ago she decided to start her own business as a professional speaker and marketing solutions expert. Ms. Good has shared her innovative ideas with many organizations, including apartment associations in 37 cities, and national conventions such as The National Apartment Association, 24 appearances at the Multi-Family Brainstorming Sessions, 10 presentations at the International Builders Show, and is an eight time presenter at the Multi-Housing World Annual Convention. Ten years ago, Ms. Good joined three of the industry’s top speakers to form The Apartment All Stars, an educational tour delivering high energy events in association with local apartment associations.
V I S I T U S AT T R E N D S B O O T H 1 1 0 4 T O PA R T C I PAT E I N T H E F O U N D R Y+ C O L L E C T I V E E V E N T 20 0 W. M E RC E R S T R E E T S U I T E 51 0 S E AT T L E , W A S H I N G T O N 9 8 1 1 9
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T. 2 0 6 . 2 8 5 . 6 4 0 0 F O U N D R Y- R E . C O M 28
Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
9:30AM - 10:20AM • TRENDS DETAILS — WORKSHOP DESCRIPTIONS AND SPEAKER BIOS — CONTINUED The Top 10 List for Successful Property Managers & Owners Speaker: Julie Johnson If you want to learn how to be a better property manager or landlord, this seminar is for you! Join Ms. Johnson to learn 10 things you won’t read in a property management book and can only learn from experience. Over and over again, she hears stories of landlords who have lost control of their property because of bad tenant management, bad asset management or bad financial management. Come hear some ideas on how to remain in control and up-to-date with today’s market demands. From ideas on property presentation, how to market your property, to understanding current laws and controlling expenses, this seminar has a little bit of everything. Julie Johnson Julie Johnson has over 10 years experience in the rental housing industry. She has been a manager of both residential and multi-family properties. Julie is the past Executive Director(6 years) and is a current volunteer for the Rental Housing Association of Washington. She is known for her passion of the rental housing industry and is the host of the “Rental Property Coach” Radio Show on 1590 AM on Saturday mornings at 9:00; teaching landlords and property managers best practices. Julie owns her own property management company, Smart Choice Realty, and has years of experience teaching at TRENDS, as well as seminars and supper clubs for RHA. She shares her expertise by writing on rental issues.
Cut Your Property’s Costs & Attract Residents with ENERGY STAR Speakers: Nicole Ballinger, Joe Fernandi, Colleen Quinn, Clint Stewart, & Sherry Zane Cut your property’s costs & attract residents with Energy Star. Local case studies will be shared. Hear from a local property manager and representatives from Puget Sound Energy, Seattle City Light and Region 10 ENERGY STAR Program, and the City of Seattle. Clint Stewart from PSE will share how to qualify for rebated—or even free—appliances like refrigerators, washing machines, and lighting. He’ll also share other easy ways to save through free energy audits and incentives. Colleen Quinn, from the ENERGY STAR Program, will share the brand new ENERGY STAR certification for Multifamily Buildings and ways to save money with ENERGY STAR products. Nicole Ballinger from the City of Seattle will explain why hundreds of apartment buildings already tracking their energy use may take advantage of the new ENERGY STAR category, and explain how you can too—even if not located in Seattle. A local case study will be shared by Joe Fernandi of Seattle City Light. We’ll also hear real-world advice from a local property management firm about ways they’ve helped their clients take advantage of utility rebates and energy use tracking—what works and what doesn’t.
Nicole Ballinger Nicole Ballinger is the Energy Benchmarking Advisor at the City of Seattle Office of Sustainability & Environment. Nicole currently leads the program outreach and database business strategies for the City of Seattle’s energy benchmarking ordinance, which requires owners of about 3,400 commercial and multi-family buildings to annually track and report the energy performance (benchmark) of their buildings to the City of Seattle. This work has resulted in greater than 98% compliance. Prior to working for the City of Seattle, Ms. Ballinger was a marketing project manager for Efficiency Vermont, focusing on the large commercial and industrial sectors. She has a Master’s in Natural Resource Planning from the University of Vermont. Joseph Fernandi Joseph Fernandi is an Energy Management Analyst Supervisor for Seattle City Light’s Conservation Division, where he manages the Small Commercial, Multifamily Retrofit, and Multifamily New Construction incentive programs. In this capacity, he supervises a team of Energy Management Analysts, oversees the application review and quality control process, and provides technical assistance and program guidance to customers and contractors participating in the program. Colleen Quinn Colleen Quinn began working on the ENERGY STAR Program for Region 10 in 2013, assisting the states of Alaska, Idaho, Oregon, and Washington with energy conservation strategies. The ENERGY STAR Program for Buildings and Plants includes measuring and tracking energy use with Portfolio Manager, an online energy tracking tool, and conservation strategies based on the ENERGY STAR certification checklist. Ms. Quinn’s primary role is to assist building owners and managers in identifying wasted energy, and to achieve energy saving using ENERGY STAR tools and resources. Prior to working on the ENERGY STAR Program, Ms. Quinn worked for 16 years at the Seattle Tilth Association. She has a BA with Honors from Central Washington University and recent certificates in Program Management and Green Building. Clint Stewart C l i nt St e w a r t i s t h e P r og r a m M a n a ge r fo r P u ge t Sou nd Energ y’s Mu lt ifa m ily Ret rof it prog r a m. M r. Stewart began his career at PSE in 2009 as an Energy Advisor and shortly thereafter became the Program Coordinator for the Low Income Weatherization program. In his current role, Mr. Stewart is responsible for managing the day-to-day operations of the Multifamily Retrofit program, while ensuring annual energy savings targets are met within budget. He has a Master’s degree in Urban Management and Development from IHS Erasmus University in the Netherlands and a Bachelor’s degree in Environmental Studies from University of Colorado.
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
9:30AM - 10:20AM • TRENDS DETAILS—WORKSHOP DESCRIPTIONS AND SPEAKER BIOS Cut Your Property’s Costs & Attract Residents with ENERGY STAR
Advanced Social Media Content Marketing and Visual Storytelling
Sherry Zane Sherry Zane, CPM® is a former President of RHA's Board of Directors. She is also a partner and Director of Apartment Operations for Phillips Real Estate Services. Ms. Zane has extensive experience managing as both an owner and a fee manager. She co-teaches a class for new resident mangers at Phillips and is passionate about our industry. She has been a member of IREM for many years having served as a chapter president, a Regional Vice President and a member of the National IREM Executive Council. In her prior careers, she was a U.S. Army Captain for the Army Nurse Corps and owned and operated a sailboat chartering business on the East coast with her husband. She has been a volunteer with various arts organizations for over 30 years.
Speakers: Laurel Zacker & Jill McNiesh
The Legal Anatomy of an Eviction—AKA—50 Minutes of Law School Speaker: Rob Trickler, Attorney This course is a supplement to those landlords that want their eviction to be a sit down dining experience on a fast food budget. This course is for the landlord that wants law school crammed into a free consultation. It will explain the mechanics and the actual practice of the eviction lawsuit rather than just the law itself. Many landlords try to file suits on their own. Most get tripped up on case law, civil rules and local rules, that they didn’t know existed or how to interpret. Others just want to first visualize the spider web of “what ifs” but don’t want to pay for the hours of consultation that it may take. This course is intended to help those landlords. Rob Trickler, Attorney Attorney, Rob Trickler is the President of the Washington Rental Owners Association (WROA), formerly WAA, and a landlord attorney practicing in counties all around the Puget Sound. He owns The Landlord Law Group PLLC, All County Evictions LLC, and The Law Office of Rob W. Trickler PLLC. Together his companies manage client properties, advise landlords on best business practice and legal obligations and litigate thousands of evictions. Mr. Trickler also takes an active role in assisting and steering the legislative and lobby efforts for WROA’s part in a coalition of landlord advocate and support groups.
Maintenance Strategies for the Smaller Property Speaker: Dean Hanks The workshop will discuss the maintenance strategies and tactics for the smaller property with fewer staff on site. Developing a system for maintenance on your property; property inspections; customer service and resident retention; tips and techniques for properties with smaller budgets.
This workshop is for marketers and managers who are already engaged in social media and wish to take their activities to the next level. We’ll dig deeper into popular platforms like Facebook, Twitter, Instagram and Pinterest. Advanced topics include: content marketing, SEO, blogs, reviews; visual storytelling: Instagram, Pinterest and YouTube; analytics: measuring performance and return. Laurel Zacher L a u r e l Z a c h e r ’s early experience in multi-family included on-site leasing and marketing. Later, she moved to the vendor side, working in sales and marketing for both major media and a national ILS. In 2007, she moved back to the client side as the Marketing Director for a regional owner in the upper Midwest.
In 2011, she relocated to Washington and Ms. Zacher joined Weidner Apartment Homes as their Reputation Manager. In this new role, she managed corporate Resident Relations (AKA customer service), social media and Online Reputation Management (ORM) for Weidner’s communities. Now as Director of Marketing, she leads all marketing strategy for Weidner’s portfolio of over 42,000 units across the US and Canada.
Jill McNiesh
Jill McNiesh began her career i n the multi-family housing industry more than 15 years ago as a customer service representative for a print advertising company. Working her way up through the ranks, Ms. McNiesh regularly outperformed expectations and was consistently ranked as one of the top performers in her companies. Her experience spans from large corporations to small technology start-ups. With her current role at Greystar as Manager of the Online Reputation Management & Social Media strategies, Ms. McNiesh has great perspective to view current and upcoming trends and address how they’ll affect our industry. Her solid, lasting relationships have earned her the trust and respect of her peers, clients and co-workers. Ms. McNiesh is passionate about apartment marketing, her family and football.
Dean Hanks
Dean Hanks has been involved in multi-family maintenance for the last 26 years. Previous to his property management career, he was involved in maintenance and maintenance management for the US Government, the electric utility industry, specifically nuclear power plants, and private industry as a maintenance management consultant. Mr. Hanks has been an Accredited Residential Manager since 1992. He is currently with Gilbert Bros, Inc. and manages a property in Port Orchard. Mr. Hanks currently works for Tecton Corp.
TRENDS REGISTRATION $65 before November 30 $80 after November 30 ADMISSION FEE – Includes Tradeshow, Workshops & Lunch
Ticket Discount Available: 9 or more tickets, call (800) 335 - 2990
Register Online: www.trendsnw.com
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Rental Housing Journal On-Site
11:00AM - 11:50AM • TRENDS DETAILS—WORKSHOP DESCRIPTIONS AND SPEAKER BIOS Landlord/Tenant Law #3 • R.E. Clock Hours Available Speaker: Chris Benis, Attorney (Speaker's Bio on page 26.) There is a delicate balance in creating and maintaining effective relationships with owners and tenants. It’s rather like walking a tightrope. A few basic techniques, appropriately applied, will give the property manager the stability needed to create win-win situations. Is Property Management a high stress occupation? You bet, right up there at the top. Come discover a few tips to make your life as a property manager more peaceful. Learn how to dispel the myths of the Simon Lagree Landlord and the ‘tenant from hell.’
Revenue Management—Impact of Revenue Management on Assets, Gross Revenue & Leasing Moderator: Annie Laurie McCulloh Panel: Bryan Pierce, Mike Teano, & Julie Brawn Whitesides With a growing majority of the professionally managed apartment world using some form of automated pricing and revenue management, the word is out. For many, fear and uncertainty surround the practice of revenue management. This session provides a fast-paced series of best practices in implementing, managing and confidently maximizing revenue within a pricing optimization initiative. Annie Laurie McCulloh Annie Laurie McCulloh serves as Senior Vice President for Rainmaker LRO. She joined Rainmaker in 2009 and has more than 15 years of experience in pricing and revenue management. Having a unique perspective of not only helping design, deliver and support pricing solutions, but also having served as pricing manager making pricing decisions for tens of thousands of apartment units, she swiftly gets the “big picture” and ensures solutions exceed client expectations. Ms. McCulloh holds a Master’s Degree in Applied Mathematical Sciences. Bryan Pierce Bryan Pierce currently works with Gable Residential. Bryan was the Director of Revenue Management for the Holland Partner Group, and has overseen all aspects of revenue management from the beginning in 2009. The portfolio has over 20K units of garden, mid-rise, and high rise product running the range of lease-ups, re-development and conventional assets in the West’s hottest markets. He’s been quoted on the subject of Revenue Management in CNN/Money, The NY Times, and UNITs Magazine.
Mike Teano Mike Teano has been in the multi-family industry for 16 years and is responsible for 34 communities with over 5,600 apartment homes from Tacoma to Everett. He has been active in the property management industry since 2000. Mr. Teano has extensive experience with garden-style, townhome, mid-rise, lease-ups, new development and student housing apartment communities. Prior to joining Greystar in 2014 in the acquisition of Riverstone Residential Group, Mr. Teano ’s ten-year tenure included roles as market analyst, regional manager and vice president. Before that, he served as property manager for AvalonBay Communities, Equity Residential, and Investco. Mr. Teano is a licensed real estate broker in Washington and holds a degree in accounting. Julie Brawn-Whitesides Julie Brawn-Whitesides is with ConAm. Julie has been in the multi-family industry since 1993. Her award winning experience in the marketing and lease-up of numerous Market Rate new construction and repositioned assets, led her to the position of Director of Marketing in 2004. During her tenure in this position, Ms. Brawn-Whitesides expanded her talents to Operations and Business Development, and was named Vice President of Operations in 2006, and Senior Vice President in 2008. Her ability to contribute meaningful migration of business to the company, coupled with operational success of existing market rate assets, elevated her role to Executive Vice President in 2011.
Speed with the Lead Equals Higher Closing Ratios NOW! • Speaker: Kate Good (Speaker's Bio on page 28.) In today’s world information can be delivered at warp speed and so follows decision making. This program is designed to take our leasing skills to the next level so that we can effectively close today’s prospective renter. Kate Good will plan a program that promises to give you the tools needed to covert more callers and emails to visits to your property. And, most important, close on the first visit. Customers have access to a lot of information and options and the sooner you can stop the apartment shopping scenario, the better. You can get that lease before anyone talks to this prospect.
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
11:00AM - 11:50AM • TRENDS DETAILS—WORKSHOP DESCRIPTIONS AND SPEAKER BIOS
Social Media for Management & Marketing…The New World Culture for the Property Business Speaker: Sarah Laidler Social Media is infiltrating our culture, so have you began utilizing it for your business? This seminar will equip you with practical tools to manage your business, fill vacancies, increase your bottom line and gain a greater understanding of the rental market. You don’t have to be a SEO (search engine optimization) expert for social media to work for you! Chances are you are already using social media on a daily basis for your personal life, but now is the time to start using it to better manage your properties. You are guaranteed to walk away from this class with a whole new perspective on how you can and should be using social media. Sarah Laidler Sarah Laidler is the Managing Broker for Accolade Property Management Group. With 15 years in the property management industry, Sarah specializes in both single-family and multi-family property management. The first 10 years of Ms. Laidler’s career were focused on multi-family Property Management, where she managed a portfolio of 750 A+ properties in the Puget Sound region. In 2011, Ms. Laidler started Accolade’s single-family home division, where she opened a real estate brokerage in downtown Ellensburg. Her current portfolio includes 250 multi-family units and 350 single-family houses, duplexes, and small apartment complexes. Ms. Laidler has served on the Rental Housing Association (RHA) Board since 2013. She also holds her Certified Apartment Manager “CAM” certification through the National Apartment Association, and is a certified Clock Hours Instructor. Ms. Laidler received her business degree from Seattle Pacific Univeristy, specializing in Business Management and Marketing.
TRENDS REGISTRATION $65 before November 30 $80 after November 30 ADMISSION FEE – Includes Tradeshow, Workshops & Lunch
Ticket Discount Available: 9 or more tickets, call (800) 335 - 2990
Register Online: www.trendsnw.com
Do You Have What It Takes to Be a Maintenance Leader? Speaker: Donn Garrett, Bruce Smith, & David J. Alfano After exploring what makes great leaders great, we’ll determine how to best channel your skills and energy to produce the results that are needed at your company. We’ll evaluate our skills and unique attributes and learn how to more effectively use them to accomplish our goals. We’ll explore what leadership is and if it is different than management; why great leaders are great; what do you have and what do you need to be a Maintenance Leader and how you make the transition from supervisor to leader. You’ll leave with specific techniques that will help you be an effective Maintenance Leader! Donn Garrett Donn Garrett has worked in property management for over 20 years. In the position of Maintenance Manager, Mr. Garrett has worked on properties ranging from 123–474 units. Donn has been a speaker for TRENDS and the Washington Multi-Family Housing Association (WMFHA). He has won prestigious awards for everything from “Best Curb Appeal" to "Grand Prize Overall.” To Mr. Garrett, continuing education is very important, as he attends advanced appliance classes and was one of the early O7B License holders. Due to a heavy performance and recording schedule he is finding working on a smaller community a breath of fresh air. Bruce Smith Bruce Smith is the Regional Maintenance Manager at Greystar. He has worked within the field since 1996. His other positions have been as District Maintenance Manager; A.C.E. Maintenance Supervisor and Sr. Maintenance Supervisor. Mr. Smith has worked for H.S.C. Real Estate and McNeil Real Estate. Mr. Smith has extensive commercial as well as multi-family renovations. David Alfano David Alfano has over 35 years’ experience in facilities maintenance. Mr. Alfano managed a crew of eight employees and oversaw various subcontractors in the refurbishment of 6,587 apartment units in a 10-year program, which was completed in eight. Mr. Alfano was recognized as employee of the year in Southern California in 1998 and his property was also recognized as Property of the Year for that same year. He was also a Maintenance Supervisor for multiple apartment communities in Washington State which consisted of 594 units. Mr. Alfano was recognized by the Washington Apartment Association as the Maintenance Supervisor of the Year for 2003. Mr. Alfano was also the regional maintenance supervisor for over 10 years for a local property management firm with 30 properties in their portfolio, and was instrumental with setting up training programs and assisting in coordinating property capital projects and renovations while he was there. Mr. Alfano is NSPF Certified Pool Operator (CPO) and Lead Paint Removal & Remediation EPA Certified. He is excited to share his experience in multi-family facilities maintenance.
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Rental Housing Journal On-Site
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
11:00AM - 11:50AM • TRENDS DETAILS—WORKSHOP DESCRIPTIONS AND SPEAKER BIOS—CONTINUED Strategies Using Landlord/Tenants Law to Enforce Obligations of Residents Speaker: Eric M. Steven, Attorney
Managing Single-Family Housing Speaker: Lori Gill
Mr. Steven, Attorney will address notice practice, statutory compliance, and other issues The following topics will be covered in the workshop: • What type of investments typically make the best rental; what to look for when purchasing necessary for lawful eviction of residential tenants under Washington law. a rental investment property; Eric M. Steven, Attorney • Preparing to become a landlord; Attorney Eric M. Steven, P.S. is a sole practitioner in Spokane with a practice emphasis in the area of landlord-tenant relations and • Washington State laws and Tenant rights in a nutshell; housing. He practices in the state and federal courts litigating cases • Five most common mistakes a landlord make; involving administrative law, bankruptcy, commercial litigation, • Care and maintenance costs Landlord vs. Tenant; eviction, fair housing claims, and a variety of other landlord-tenant • Security deposits for single-family homes; issues. Mr. Steven is acting counsel for numerous property owners, • Overview of the current state of the single-family rental market. landlords, management companies, subsidized housing providers, and the local housing authority. He is active in legislative reform and acting counsel for the Washington Rental Owners Association (WROA), the Inland Empire Rental Association, and also works with the Washington Landlord Association.
Reputation Management Speakers: Laurel Zacker & Jill McNiesh (Speakers' Bios on page 31.) This workshop is for marketers and managers who are already managing their online reviews and digital footprint, and wish to take their activities to the next level. We’ll dig deeper into managing feedback and content on popular platforms like review sites and Facebook as well as take a brief look at platforms like Instagram, Pinterest and Google+. Advanced workshop topics include: • Building Advocacy: Generating reviews, likes & recommendations, • Policy & Prevention: Managing and preventing negative content, threats & crises, • ROI and Analytics: Measuring Performance.
Lori Gill Lori Gill started her property management career in 1989. Ms. Gill has worked in nearly every facet of property management from on-site multi-family leasing, assistant manager and manager to condominium association management, commercial property management and single-family home management. Ms. Gill joined Windermere in 1998 and shortly thereafter purchased the franchise where she grew the business from 125 single-family portfolio to three offices, 65 Brokers and nearly 1,400 single family homes under management serving King, Pierce, and Snohomish counties. In January of 2015 Lori Gill & Associates announced that it will also offer commercial leasing and management, as well as multi-family property management and leasing. Ms. Gill is a licensed instructor for the State of Washington and currently teaches the Advanced Practices in Property Management course for Windermere. Born and raised in Seattle, Ms. Gill currently resides in Sammamish with her husband and three children.
1:30PM - 2:20PM • TRENDS DETAILS — WORKSHOP DESCRIPTIONS AND SPEAKER BIOS Current Conditions & Trends of the NW Rental Market Panel: Kari Anderson, Tom Daniels, Mike Voorhees, & Walt Smith This is a ‘Featured’ workshop of TRENDS 2015.
The panel members on this workshop are all extraordinary. And the topic is brought back annually by popular demand. The workshop title fully explains the topic: ‘The Current Condition of the Northwest Multifamily Housing Market’. We suggest you get your seat early and don’t miss it! Kari Anderson Kari Anderson is a Principal at Thrive Communities where she serves as the Vice President. Thrive Communities manages over 4,000 apartments in Puget Sound. She began her property management career in 1986 with Trammell Crow Residential Services. In 1994, she joined Equity Residential and worked as the VP overseeing the state of Wash-
ington. While she was with Equity, Ms. Anderson was instrumental in helping found the Washington Multi-Family Housing Association. Ms.Anderson served as first and fifth Board President of the association, she has served on the Board of Directors in the past, and has worked on numerous committees, currently as the Co-Chair of the Membership Committee Tom Daniels Tom Daniels ensures that Greystar’s asset management strategies meet clients’ operational, occupancy, and revenue performance goals at more than 300 communities in the Northwest. He began his multi-family career in 1992 as a property manager, and has since accrued expertise in a variety of markets throughout the West Coast. Prior to joining Greystar, Mr. Daniels served as division president for the Northwest division at Riverstone Residential Group. Previously, he was responsible for portfolio operations for both Holland Residential and Trammell Crow Residential Services in the Pacific Northwest.
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Rental Housing Journal On-Site
1:30PM - 2:20PM • TRENDS DETAILS— WORKSHOP DESCRIPTIONS AND SPEAKER BIOS Tom Daniels profile continued A board member for the Washington Multifamily Housing Association, Mr. Daniels was also chairperson of its strategic planning committee. He graduated from Washington State University with a degree in business administration and holds a broker’s license in the state of Washington. Michael Voorhees Michael Voorhees serves as Partner and Regional Vice President for Holland Residential in our Puget Sound region. Under his tenure, the Puget Sound Region has grown from 233 units in 2003 to 25 properties with over 5,500 units currently under management today. During that time frame Mr. Voorhees supervised the renovation of 2,700 units and a total infusion of +$18 million in capital improvements. Prior to joining Holland Residential, Mr. Voorhees served as an investment manager for Pinnacle overseeing 14 properties with a capitalization value of +- $225 million. Prior to Pinnacle, Mr. Voorhees served as a District Manager for Trammell Crow for Oregon and Washington. Mr. Voorhees received a Bachelor of Arts in Business Administration at Washington State University.
Overcoming—Renewal Objections
Walt Smith Walt Smith has been in the property management industry for nearly 30 years. He was one of the three founding principals of HSC Real Estate, serving as its president from 2001 until it was acquired by Riverstone Residential Group in 2008. At the time of the Riverstone transaction, HSC provided property management and ancillary services for more than 34,000 apartment homes in California and the Pacific Northwest. Mr. Smith became CEO of Riverstone in 2009 and provided strategic vision and leadership for its portfolio of more than 800 managed properties and 4,500 associates. During his fouryear tenure, Mr. Smith fostered a vibrant and collaborative company culture, significantly expanded the ancillary services platform, and drove substantial income and unit growth that ranked Riverstone as the second largest management company in the US.
Errin L. Reynolds In 1990 Errin L. Reynolds started a general contracting and landscape company that worked with property managers and HOA’s. That same year she purchased her first rental property and became a certified pesticide applicator.
In 2014, Mr. Smith and the legacy HSC partners formed Avenue5 Residential to manage their 7,000 unit Investors Capital Group (ICG) portfolio in the Western US. Avenue5 Residential, a solutions-based portfolio management services company, commenced third-party management services for the multifamily industry in the Fall 2015.
Maintenance Team & Leasing Staff Working Well Together —Total Team Tactics for Higher Occupancy Speaker: Kate Good (Speaker's Bio on page 28.) Who said that the leasing team and maintenance team will never get along? That is total rubbish and could be a reason why your leasing and retention suffer. In this program we will motivate maintenance to understand and capitalize on the important role they play in the important number we call occupancy. Your closing ratios can improve and sometimes it is just a matter of not sending all the players to leasing school. This program is vital for everyone to participate in to improve overall property performance.
Speaker: Jen Piccotti (Speaker's Bio on page 13.) In today’s market, most residents expect that another year at your community will include a rent increase, so if you are encountering major objections it may be time to examine the issue more closely. Learn the latest intel on what drives these objections and the six-step plan to successfully negotiate a renewal discussion.
Working with Difficult Owners Panel: Errin L. Reynolds, Marie Pettie, & Cherie Haven As the topic title clearly identifies this workshop will explore solutions to working with difficult property owners. All of the panelists have many years of experience working within the multi-family housing industry. Each speaker will offer insight on ‘how to best manage’ a property owner. The panel will share a manager’s role and duty in creating a self-resolving and open working environment. Establishing limits of authority, accountability and even firing an owner will be discussed.
In 2000 Ms. Reynolds started a property service company specifically servicing rental owners. She then partnered with Snoco Properties in Everett to manage acquisitions and the daily needs of properties. Over the years she traveled throughout the US acquiring multi-family properties and hiring staff to service specific investments. In 2014, Ms. Reynolds partnered with Rob Trickler with the Landlord Law Group, PLLC to provide property management. Currently Ms. Reynolds is a Board member of Snohomish County Owner Operators Association and Treasurer of Washington Rental Owners Association. Marie Pettie Marie Pettie is a realtor and a property manager. She started her career with Magnuson Management a Real Estate Investment Trust. She is also a certified Mobile Home Park manager. At one time she was an on-site apartment manager and an executive property manager managing over 1,000 units. During that time she was given a Financial Stability award for managing a $600,000 renovation, while occupied. Her experience includes being an assistant asset manager for Center Point Corporate Park, a commercial campus with mid-rise, seven-story buildings, amenities and restaurant. She was elected President for the state of Washington of the Women’s Council of Realtors (WCR). She now is the designated broker for Safe Harbor Property Management, LLC, and brings her 20 years of management experience to the single-family home arena.
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
1:30PM - 2:20PM • TRENDS DETAILS— WORKSHOP DESCRIPTIONS AND SPEAKER BIOS Cherie Haven Cherie Haven joined MacPherson’s Property Management in February of 2010 with her focus on building the business with a dedication to customer service. Ms. Haven started in the field in 1991 as a leasing agent and then became the Activities Director for a medium size company in Oregon. She then worked for Metric managing two communities in the Beaverton. She was then transferred to the Seattle to manage a community in Kirkland as well as support the branch manager. Ms. Haven was then recruited by Oakwood World Wide and went into the corporate housing industry/relocation industry. After starting and owning a corporate housing company she went to work with AIMCO as the area manager in of Seattle and working with a developer doing marketing and corporate housing for several communities in seven states.
STATE LEGAL Updates: Rent Control; Tenant Screening; B&O Tax on Real Estate; Deceased Tenant Bill; Tenant Relocation Assistance; Changes to L/T Act Panel: Eric M. Steven, Rob Trickler, Mark Gjurasic, Sean Martin, & Bill Hinkle This workshop panel represents experts in the political and legal areas of rental housing. This group will explore a limited number of issues of interest to the industry. Those subjects are the most current legislative concerning rent control, specific new legal screening concerns, rulings on criminal trespassing and updated laws concerning the Landlord/ Tenant Act. Mark Gjurasic
Mark Gjurasic is president of Public Affairs of Washington, LLC specializing in governmental affairs representation, fundraising, and educational services. He currently represents many associations before the Washington State Legislature, some of which are: Building Owners and Managers Association of Seattle and King County, Tacoma, and Spokane; Institute of Real Estate Management, Washington Rental Owners Association (WROA), and Washington State Mobile Park Owner’s Association.
Budget Season is Here! Gutter Season is Near! Call Now For Pricing!
Sean Martin
Sean Martin serves as External Affairs Director at the Rental Housing Association of Washington (RHA) and has been tracking and collaborating on issues affecting the rental housing industry at the local level for over six years. Over the past several years, he has worked on a number of concerns facing rental housing operators, notably rental housing inspections, crime free legislation, protected class and fair housing laws, and various fee and taxation issues. Mr. Martin graduated in 2005 from the University of Washington with a degree in Political Science. He is also a graduate of the Jennifer Dunn Leadership Institute Bill Hinkle Bill Hinkle is the Executive Director of the Rental Housing Association of Washington (RHA). Mr. Hinkle previously served as Minority Whip in the State House of Representatives, and retired from the Legislature after 10 years of public service. While serving in the House, Mr. Hinkle had also been a business consultant in the Real Estate and Development industry providing him with the kind of understanding of the industry and leadership skills critical for his current position.
Inside the Mind of a Renter—Research on what Drives a Renter: Amenities VS. Location; How They Search; Pricing & More Speaker: Mary Kaye O’Brien Mary Kaye O’Brien will take attendees into the mind of today’s renters. Ms. O’Brien will share the results of a new research campaign that explores what drives U.S. renters to use online resources to find a rental property. Potential insights include: how consumers use different resources to find rentals, what amenities do they prefer, do renters value location over amenities, and more. Mary Kaye O’Brien Mary Kaye O’Brien is the director of consumer insights at Zillow and is responsible for the vast majority of Zillow’s research efforts. Ms. O'Brien has over 25 years of experience helping companies create holistic views of their customers and their brands using a variety of quantitative and qualitative research techniques, and leveraging these insights to help drive decision-making and innovation across aspects of the business. Previously, Ms. O'Brien was a vice president at Ipsos Research in Seattle, leading consumer research efforts on behalf of many innovative brands. Prior to her work at Ipsos, Ms. O'Brien was the director of brand and market research at Expedia, Inc. Ms. O'Brien has a M.A. in Experimental Social Psychology from Drake University and a B.S. in Psychology from University of Iowa. Currently, Ms. O'Brien is serving on the Executive Advisory Board for the new Master of Science in Marketing Research program at Pacific Lutheran University School of Business.
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T (206) 283 - 0816 | (800) 335 - 2990 Rental Housing Journal On-Site · November 2015
www.RHAwa.org 37
Rental Housing Journal On-Site
1:30PM - 2:20PM • TRENDS DETAILS— WORKSHOP DESCRIPTIONS AND SPEAKER BIOS Evaluating/Establishing Your Rental Policies & Procedures —for Small Property Owners Speaker: Bill Jackson The rental housing industry is a business that has become a major element of the economy. Whether you are an investor, a property manager or an “accidental rental property owner,” think of your rental property as what it really is—a business. Before you even begin to market your property you should give serious and extensive thought to establishing the policies and procedures you must have to optimize the “business experience.” The extent of the Policies and Procedures you will want to develop will vary based on whether you are managing a single family home, duplex, townhome, condominium or multi-family units. Bill Jackson Bill Jackson is a licensed real estate agent. He has served continuously on the Board of Directors for TRENDS since 2009 and on the Board of Directors of the Rental Housing Association of Washington (RHA) since 2006. From 2008 through 2012 he served on RHA’s Executive Committee and in 2009, Mr. Jackson was Board President of the Association. Currently, he serves as Co-chair for RHA's Events and Education Committee. Over the past 22 years, Mr. Jackson has worked as an instructor and workshop facilitator for the TRENDS tradeshow; numerous RHA classes/workshops and events; and taught classes for the National Association of Residential Property Managers (NARPM) at both the local and National level.
Dealing with Difficult DOGS & CATS—Also, Working with Service Animals Speaker: Tamara Simon The Puget Sound region has more pet owners than people with children. It is estimated that over 50% of renters have a pet and many consider their pet as another family member. When a pet’s behavior is disruptive to other residents and destructive to the property what can landlords do to protect their investment? This program provides information on landlords rights and remedies in dealing with problem pets including service animals. Learn how to correct the most common problem behaviors including: excessive barking, aggressive behavior, and property damage. Tamara Simon Tamara Simon is the owner of Koss Property Management, which specializes in the leasing and management of single family homes and apartment buildings. By combining humor and her experience as a professional landlord for over two decades, Ms. Simon has helped thousands of Real Estate Investors achieve maximum rental income and retain quality tenants. Ms. Simon is also the creator of the Landlord 101 class, which features “The 10 Commandments of Property Management,” and has served on the board of the Seattle Chapter of the National Association of Residential Property Managers and currently serves on the Board of RHA.
3:10PM - 4:00PM • TRENDS DETAILS— WORKSHOP DESCRIPTIONS AND SPEAKER BIOS Working Your Way Up the Management Ladder & the Steps It Takes to Get There Panel: Phil Cresswell, Monica Yoshihara, & Ali Henning With well over a combined 100 years of experience in the property management industry, this TRENDS panel of practitioners will share the inside scoop on what employers are looking for. And, what it takes to move-up the management ladder or how to recover from career disappointment. From fee management, private owners, HOA and everything in between, this open panel discussion will cover attitude, soft skills, balance and certifications/education. You will leave empowered to control your own path. Phil Cresswell
Phil Cresswell is currently with Greystar. He has been involved in the multi-family industry for over 15 years. Previously, he worked for Indigo Real Estate Services as an Investment Manager, overseeing a portfolio including conventional, tax credit and lease up communities, and for Essex Property Trust, where he began his career in Property Management as a Leasing Agent and was promoted through the ranks until he became a Property Manager. Mr. Cresswell was involved with IREM on the local and national levels. He was on the Executive Committee for the local chapter, a member of the 2009 National Executive Committee and received his ARM® designation in 2006.
Monica Yoshihara
Monica Yoshihara is currently a Division Manager with Essex Property Trust, Inc. Ms. Yoshihara has 20 years experience managing multi-family housing in various markets including Texas, Florida, Oregon and Washington. Her portfolios have included mixed-use, mid-rise, high-rise, garden style and real estate projects. Ms. Yoshihara has managed over 80 employees at one time during her career. Her philosophy is to ensure all employees have the opportunity to grow in their careers through continued investments in personal development and training. She is passionate about internal promotions and employee education programs.
Ali Henning Ali Henning is the Manager of Property Marketing at Greystar. Her career began at The Apartment Guide more than 20 years ago. During her tenure at AG, Ms. Henning worked her way up from Customer Service Rep to Senior Account Executive. After leaving property management for a number of years, Ms. Henning was lured back by an former client to take over marketing for Greystar in Washington, Oregon and Northern California. Since joining Greystar, Ms. Henning has been promoted from Associate to Manager within a year and a half. Ms. Henning’s background includes marketing apartment communities through lease-up, repositioning and renovation. In addition, she has experience with new business development and managing client relations. A native of Seattle, Ms. Henning holds a Bachelor of Arts degree in Journalism from Western Washington University.
TRENDS REGISTRATION $65 before November 30 $80 after November 30 ADMISSION FEE – Includes Tradeshow, Workshops & Lunch
Ticket Discount Available: 9 or more tickets, call (800) 335 - 2990
Register Online: www.trendsnw.com Advertise in Rental Housing Journal On-Site
Call 503-221-1260 for more information
www.rentalhousingjournal.com 38
Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
3:10PM - 4:00PM • TRENDS DETAILS— WORKSHOP DESCRIPTIONS AND SPEAKER BIOS
3:10PM - 4:00PM • TRENDS DETAILS — WORKSHOP DESCRIPTIONS AND SPEAKER BIOS—CONTINUED
Your Maintenance Career—Is It a Straight Line? Moving Up the Maintenance Department Career Ladder Panel: Cheyenne Wallace, Rich Sorensen, & Chad Sullivan This TRENDS panel of well established practitioners will share the inside scoop on what it takes to move up the Maintenance Career management ladder. Their round table discussion will cover questions concerning: career setbacks, experience levels and going back to school. The panel will also share their insights on maintaining the right attitude, soft skills needed to advance, and the value of securing special certifications. You will leave empowered to control your own path.
Your Maintenance Career—Is It a Straight Line? Moving Up the Maintenance Department Career Ladder—Continued Cheyenne Wallace Cheyenne Wallace is the Regional Maintenance Manager for Greystar in Seattle. Mr. Wallace has been active in the multi-family industry since 1989 building strong teams and ensuring client needs are met. Mr. Wallace has worked for Greystar since April of 2001. He has experience in all aspects of property maintenance and maintenance operations, as well as capital oversight. He is a Regional Maintenance Manager for 21 buildings totaling 2,981 units, which include premier luxury high rise apartment homes and Midrise apartment Homes in the Downtown Bellevue and Downtown Seattle markets. Mr. Wallace has also earned an 07b Electrical License and CPO certification. Rich Sorensen Rich Sorensen began his maintenance career with Nevins Adams Lewbel and Smith in 1998. Mr. Sorensen moved on to also work at Essex Properties; BRE Properties and Allied Group.
Mr. Sorensen has been employed from 2009 with Pacific Living Properties. He has advanced to his current position as Regional Maintenance Supervisor of 2,050 units and over 44 properties. Mr. Sorenson has studied at Northwest Missouri State University and Bellevue College in the fields of Construction Management and Atmospheric Sciences.
Chad Sullivan Chad Sullivan entered the multi-family housing industry in early 2010 as a maintenance tech for the family-owned, Vander Hoek Corporation. After a year and a change of employer to Essex Property Trust, he was made responsible for the maintenance at 110 unit Courtyard off Main in Bellevue. A change in title to maintenance supervisor followed, as did several years of practice, honing the skills of a maintenance supervisor.
Mr. Sullivan helped earn Essex’s “Property of the Year” award for 2013. 2014 saw a promotion to the 295 unit, 5 year old Joule Apartments on Capitol Hill, where he earned Essex’s “Maintenance Supervisor of the Year” award. Mr. Sullivan credits his prior sales, marketing, and people skills over maintenance skills for his positive career path. During this presentation, he will present the “intangibles” that can help you progress in your career and get the promotion you want.
Reducing Damages & Claims—Risk Management for Managers & Owners Speaker: Evan Loeffler , Attorney From property damage to potentially costly environmental claims to tenant lawsuits, there are numerous risks to your property interests to manage and consider. The good news is protecting your property only takes a minimal investment of time and resources—but you need a plan. This seminar covers best practice strategies for managing risk of loss. Topics include adding critical protective language to leases, avoiding fair housing complaints, maintaining property in a safe and legal manner, training staff, and protecting your asset with the right insurance. This is a great refresher for the seasoned professional and a solid foundation for new landlords, property managers and owners. Evan L. Loeffler, Attorney Attorney, Evan L. Loeffler is the principal attorney at the Loeffler Law Group, PLLC in Seattle. Since 1997, the firm has emphasized landlord-tenant relations, and real estate and commercial litigation. The practice represents property management companies, commercial tenants and landlords, individual investors and financial institutions. Mr. Loeffler is a regular speaker and author on topics related to landlord-tenant law, including writing the chapters on evictions and residential landlord-tenant law in the Washington Lawyers Practice Manual. Mr. Loeffler teaches continuing legal education seminars on landlord-tenant law and ethics, and has received the highest “AV” rating by his peers for ethical standards and legal ability since 2004.
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Rental Housing Journal On-Site · November 2015
800-595-0253 www.dynamicss.com 39
Rental Housing Journal On-Site
3:10PM - 4:00PM • TRENDS DETAILS— WORKSHOP DESCRIPTIONS AND SPEAKER BIOS—CONTINUED
Retention...Always Begins with the Prospect Speaker: Jen Piccotti (Speaker's Bio on page 27.)
Tracy’s Sunshine Effect! Staying Motivated at Work & Creating an Upbeat Atmosphere for Staff, Prospects & Yourself!
Retention begins with the prospect: Think you know what prospects are looking for? Think again! Speaker: Tracy Atkinson From their first visit to your community, you have a critical opportunity to not only secure a lease Tracy Atkinson’s Sunshine Effect provides you the tools and skills to become a ‘self-motibut lay the foundation for long-term loyalty. In this session we’ll unveil the top five topics that vated’ individual. Learn the art of how to create your own inspired environment for a more fulfilling and productive day. Tracy’s simple and proven techniques are designed to lift spirits will have today’s prospects signing on the dotted line this year and for years to come! as they get you on track to a happier, healthier way of living. Tracy teaches us how to: attract what we expect; reflect what you desire; become what you respect; mirror what we admire. LOCAL LEGAL Updates: SEATTLE: Rent Control; Tenant Protections Laws; The Sunshine Effect workshop is guaranteed to brighten your day. Rental Inspections & District Elections for ‘16;
VANCOUVER-SPOKANE: Just Cause Protections
Panel: Eric M. Steven, Rob Trickler, Mark Gjurasic, Sean Martin, & Bill Hinkle (Speakers' Bios on pages 37.)
This workshop panel represents experts in the political and legal areas of rental housing. This group will explore a limited number of issues of interest to the industry. Those subjects are an update on rental inspection laws and requirements, and a thorough review of new State and Local laws impacting the rental housing industry.
Tracy Atkinson With 23 years of industry experience in property management, Tracy Atkinson is responsible for overseeing the site marketing and branding for GRE’s 3,300 units under construction and existing portfolio—approximately 6,000 units. Ms. Atkinson started her career with Nordstrom in 1984, working in customer service and store training. She credits Nordstrom for teaching her how to provide the best customer service to your customer. Ms. Atkinson began her career in property management in 1992, first working as an assistant manager with Allied Group and then joined Pinnacle Properties as an on-site manager in 1996. Ms. Atkinson was promoted in 2005 to Director of Marketing for GRE/Pinnacle properties. In 2012 Ms. Atkinson moved to GRE to run their New Development Division. Ms. Atkinson’s combination of high-quality customer service and philosophy of, “being privileged to lease someone their home” has afforded her a string of successful projects which have led to her current position.
TRENDS REGISTRATION $65 before November 30 $80 after November 30 ADMISSION FEE – Includes Tradeshow, Workshops & Lunch
Ticket Discount Available: 9 or more tickets, call (800) 335 - 2990
Register Online: www.trendsnw.com
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Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
3:10PM - 4:00PM • TRENDS DETAILS — WORKSHOP DESCRIPTIONS AND SPEAKER BIOS—CONTINUED Owners: Planning for the Unexpected—Protect Family & Investments ...IF SOMETHING HAPPENS TO YOU!
Rick Gifford
Moderator: Charlie Spaeth Panel: Roger W. Bowlin, Rick Gifford, & Carla Valente This panel is comprised of a wide range of experts in the field of planning and rental ownership. The topic is directed to owners of rental property and/or their families. The discussion will explore various options available to protect property owners in times of personal crisis. Not physical issues of the property but personal crisis to the owner. The bottom-line is simple: unexpected personal ‘things can happen’ to every owner. And, they need to be prepared to protect themselves, family and investment. Charlie Spaeth At age eight Charlie Spaeth began showing vacant apartments and collecting rent at a rental his parents owned. In his twenties he refined his management skills renovating and managing residential buildings in New York. Since the early eighties he has syndicated, brokered and managed numerous residential properties in the Seattle area, including a 32-unit building in Fremont he still owns. He’s a former board member and board chair of the Rental Housing Association of Washington and currently chairs its political action committee.
Rick Gifford has served people in private law practice since 1981. He was a partner in a downtown Seattle firm before establishing his Edmonds office in 1998. After concentrating on real estate transactions, business, and land use law for many years, he expanded his practice in 2008 to include estate planning and administration, recognizing a need for principled teaching and counsel in these areas. He remains active in real estate, land use, and business matters and now enjoys an integrated, inter-disciplinary practice.
Carla Valente
From 1985 until 1990, Carla Valente earned her bachelors and masters degrees in Accounting from the University of Illinois. She practiced public accounting with Arthur Andersen until teaching accounting full time for the University of Illinois in 1992. In 1994, Ms. Valente relocated to Phoenix, AZ to accept a research position with Arizona State University analyzing business benchmarking studies. Ms. Valente continued a full time teaching career with DeVry University creating and teaching the Business Information Systems and Accounting curricula. In 2005, she began her real estate career with Lake and Company Real Estate as an agent. Ms. Valente gives credit to her colleagues for her having learned so much about real estate sales and how to manage her investment properties. Ms. Valente openly states that she is "grateful for the benefits real estate has provided both personally and professionally."
Roger W. Bowlin
Roger Bowlin is both an investment advisor and owns a real estate advocacy firm called Real Estate Transition Solutions, Inc. He specializes in providing a full array of options to his clients that seek to exit from their investment property(s). He addresses key issues such as minimizing or deferring tax, enhancing property values and repositioning proceeds to provide sustainable income, lower risk and liquidity.
TRENDS REGISTRATION
Mr. Bowlin focused his education on concentrations in investments and finance earning his business degree from the University of Washington’s Foster School of Business. He also rowed on the UW’s National Championship crew team. He currently serves on the board of the Washington Policy Center, a free-market research organization, and is a contributing writer and speaker for the Rental Housing Association of Washington (RHA).
$65 before November 30 $80 after November 30 ADMISSION FEE – Includes Tradeshow, Workshops & Lunch
Ticket Discount Available: 9 or more tickets, call (800) 335 - 2990
Register Online: www.trendsnw.com
$AVE MONEY RENT SMOKE-FREE
Want to save money on cleaning costs and reduce the risk of fire? Wondering how marijuana legalization impacts your leases? Visit the smoke-free housing booth at TRENDS on December 8, 2015 Or contact us for a free consultation smokefreehousing@kingcounty.gov | 206-263-7886
Rental Housing Journal On-Site · November 2015
41
Rental Housing Journal On-Site
TRENDS 2015 Trade Show Exhibitor List 1 Stop Towing A Advanced Septic Services A C Moate Industries ABC Towing ABODA Accord Contractors ACRAnet Advanced Virtual Imaging Alliance 2020 Alliance Insurance AllPlay Systems American Bath and Kitchen Refi nishers American Pool Supply Apartment Advantage Apcon, Inc. AppFolio ATI American Technologies Automated Gates & Equipment Axis Roof & Gutter Aylwin Roofi ng Bath Fitter Bathcrest of Seattle BECU Bio Clean Bob Wagner Insurance Bravo Roofi ng, Inc. BuildingLink.com Bushnell Real Estate Solutions Buy-Rite Carpet Wholesaler Cabinet Renovations Cadet Manufacturing Career Strategies Carports of Washington Cascade Water Alliance CenturyLink Coin Meter Comcast ConService Cort Furniture Rental Criterion Brock Department of Ecology, E-Cycle Washington Diamond Roofi ng Dogwood Building Supply Doors, Inc. Dynamic Sales and Service E-Renter USA Eclipse Staffi ng Eco-Movers Eden Advanced Pest Elite Resurfacing Embertec USA Entrata ePremium Insurance Essex Property Trust Evolve Technologies Executive Coatings & Contracting
Fair Housing Partners of Washington Farmers Insurance/Madison Ave. Insurance Ferguson Enterprises Fikes First Advantage First Choice Remodeling Fischer Plumbing & Fischer Restoration Flags A’ Flying For Rent Media Solutions Foundation Bank Foundry Living Real Estate Genesis Credit GK Industrial Refuse Systems Goodbye Graffiti Great Floors Green Property Solutions Greystar Guardian Water and Power Hainsworth Laundry HandyTrac Systems HD Supply Infi niti Window Coverings, Inc. Integrity Pool & Spa Interstate Restoration IREM Kato Enterprises KeyTrak Kidder Mathews King County Hazardous Waste King Electrical Mfg Co. Kurkov Construction L/T Services, Inc. Landlord Law Group Larry Palmer Insurance Agency LeaseLabs Leisure Creations Loeffler Law Group PLLC LPL Financial Luther Burbank Savings MacGray Maintenance Supply Headquarters Malone’s Landscape Management Matvey Construction Millionair Club Charity Minol USA Miracle Method MOCO - MyScreeningReport. com Moen Faucet Mohawk Industries Mono Rooftop Solutions Mr. Pressure Wash Mr. ReKey
National Credit Systems National Purchasing Partners (NPP) NoAppFee.com Northwest Center Northwest Playground Equipment NVL Laboratories, Inc. NWP Services Corp. On-Site.com One Call Now One Way of WA. Carpet Cleaning & Restoration Orca Information & Communications Osaka Garden Service Pacific Breeze Pacific Northwest Inspections Group Pacific West Construction & Maintenance Paragon Real Estate Advisors Parcel Pending PayLease PDS Paul Davis Restoration Pemco Insurance Perfect Drive / Club Car Perma Dry Waterproofi ng Phillips Real Estate Services PooPrints Precision Concrete Cutting PRECOR Commercial Fitness Professional Publishing Property Staffi ng Assoc. Puget Sound Energy Rainbow International Carpet Cleaning Rainbow Playland of Spokane Rainmaker LRO Real Estate Transition Solutions RealPage, Inc. RedRock Resurfacing REHAB, LLC Rent Collect Global Rent Manager Rental Housing Association of Washington (RHA) RentDebt Automated Collections Renters Legal Liability Renticity RentPath ResMan Rich Landscaping Rodda Paint ROOF Service Repair Roto-Rooter Services
3:10PM - 4:00PM • TRENDS DETAILS WORKSHOP DESCRIPTIONS AND SPEAKER BIOS—CONTINUED Through a Mystery Shopper’s Eyes—What Prospects & Shoppers Are Really Looking for when They Make Contact Speaker: Bethany Mooradian Through a mystery shopper's eyes. It's a guarantee: Your apartment community will be shopped. Whether it’s for your own purposes to evaluate your employees, your competition checking you out, the "legal eagles" making sure you abide by Fair Housing Laws, or just as an added bonus from your advertising partners, mystery shopping is the most effective way to figure out what you’re doing right and how you can improve. Bethany Mooradian Bethany Mooradian has been mystery shopping since 1999, conducting thousands of shops for over 150 different mystery shopping companies. She has been a shopper, scheduler, editor, and ran a mystery shopping company for two years. Ms. Mooradian has consulted with mystery shopping companies to help train their shoppers, and worked with small businesses to train their employees after the shop. She has spoken at the national mystery shopper conventions, teaches local classes on mystery shopping, and has authored two books: The Mystery Shopper Training Program and I Got Scammed So You Don’t Have To!
Ms. Mooradian’s small business advice has been highlighted in over 100 publications including Good Housekeeping, ABC News, US News and World Reports, Career Builder, Bankrate, Bloomberg Small Business, Huffington Post and others. Ms. Mooradian has a rare and unique perspective on the multi-family industry stemming from her experience as a shopper, former shopping company owner, portfolio manager, leasing agent, landlord, and trainer. Saltaire Construction SatisFacts Research Seattle City Light Seattle, King & Renton Housing Authority Seattle Public Utilities Seattle’s Best Pest Detection Security Gate and Access Security Solutions Northwest Servicemaster Restore Servpro of Central Seattle Sherwin Williams Paint & Floor Covering Sign Pros, Inc. Sitelines Park & Playground SLABJACK NW Smith Fire Systems Snohomish County P.U.D. Solid Waste Systems South Tacoma Glass Specialists Spartan Plumbing & Rooter
31ST ANNUAL
9:30am - 10:20am
Washington Federal Savings Washington Multi-Family Housing Assoc (WMFHA) Washington Water Damage & Cleaning Service Washington Window & Glass Wave Broadband WebListers Westlake Associates Wilmar Industries Yardi Systems Zillow
WASHINGTON CONVENTION CENTER, SEATTLE
Chris Benis, Atty.
Celeste Pettie,
Everyone may attend (fee charged for R.E. Clock Hours)
Debbie Green, Essex Property Trust Tali Reiner, Indigo R.E. Services
Safe Harbor Property Mgt.
Making a Difference through Your Customer Service! –aka– Added Value through Resident Retention
Closing Leases with Confidence—For Large & Small Properties
TRASH—Turn Your Trash into Gold while ‘GOING GREEN’
Jen Piccotti, SatisFacts
Sumer Bradley, Alliance Residential McKenna Morrigan, Cascadia Consulting Group
Joel Kohlstedt, Waste Management
Tina Gordon
TRENDS 2015
Plus a 215 Booth Trade Show
TRADE SHOW What Direction Are The Price Is Always Property Values Moving? Right! Pricing Has the Regional Market Strategies for Large & Peaked? Smaller Properties. Cliff Ridgway, Foundation Bank Bob McGrouther,
Kate Good
Revenue Management —Impact of Revenue Management on Assets, Gross Revenue & Leasing
Speed with the Lead = Higher Closing Ratios NOW!
Luther Burbank Bank Travis Andrews, Paragon
The Top 10 List for Successful Property Managers & Owners Julie Johnson, Smart Choice Realty
Cut Your Property’s Costs & Attract Residents with ENERGY STAR Nicole Ballinger, City of Seattle Joe Fernandi, City of Seattle Colleen Quinn, EPA ENERGY STAR Clint Stewart, Puget Sound Energy Sherry Zane, Phillips R.E.
The Legal Anatomy Advanced Social Media Maintenance Strategies of an Eviction Laurel Zacker, Weidner Apt. Homes for the Smaller Property —aka— Jill McNiesh, Greystar Dean Hanks, Tecton Corp. 50 Minutes of Law School Rob Trickler, Atty.
TRADE SHOW 11:00am - 11:50am
Washington Energy Services
DECEMBER 8, 2015
TRADE SHOW The HUMAN APPROACH to Dealing with Difficult Residents
Chris Benis, Atty. Everyone may attend (fee charged for R.E. Clock Hours)
Association (WROA)
W W W. T R E N D S N W. CO M
#1 Landlord/ Tenant Law -CLOCK HOURS-
#2 Landlord/ Tenant Law -CLOCK HOURS-
Washington Rental Owners
ReGISteR ONlINe:
Largest Rental Housing Management Conference & Trade Show in the Northwest 8:15am - 9:05am
Special Interest Towing Storrage Submeter Solutions Sunrise Glass, Inc. Surface Renew Tacoma-Pierce County Health Texacraft The Billing Associates The Chimney Specialists The Plumbing and Drain Company Tilco TopLine Counters Trenchless Pipe Repairs Tubs-R-Us United Pest Solutions VanWell Masonry Venturi Clean and Restoration VOYA Financial Waddell & Reed WASH Multifamily Laundry
#3 Landlord/ Tenant Law -CLOCK HOURS-
Bryan Pierce, Gables Residential Mike Teano, Greystar Julie Brawn Whitesides, ConAm
Chris Benis, Atty. Everyone may attend (fee charged for R.E. Clock Hours)
Kate Good
Social Media for Do You Have What It Strategies Using Management & Takes to Be a Landlord/Tenants Law Marketing…The New Maintenance Leader? to Enforce Obligations World Culture for the Donn Garrett, Apartment Advantage of Residents Property Business Bruce Smith, Greystar Eric M. Steven, Atty. Sarah Laidler, Accolade Property
Moderator:
Reputation Management
Managing Single-Family Housing
Laurel Zacker, Weidner Apt. Homes Jill McNiesh, Greystar
Lori Gill, Windermere Mgt.
Admission Fee includes Trade show, Workshops & Lunch:
$65 if received before November 30, 2015 $80 after November 30, 2015 Register online: www.trendsnw.com Ticket discount Available— 9 or more Tickets Call 800-335-2990
3 CLoCK HoURs Available treNDS Presented By:
David J. Alfano, HDS
Mgt. Group
Annie Laurie McCulloh, Rainmaker
1:30pm - 2:20pm
LUNCH AND TRADE SHOW Current Conditions & Trends of the NW Rental Market
Working with Difficult Owners
Kari Anderson, Thrive Communities Tom Daniels, Greystar Mike Voorhees, Holland Residential Walt Smith, Avenue5 Residential
Landlord Law Group
Errin Reynolds, Marie Pettie,
Safe Harbor Property Mgt Cherie Haven, MacPherson’s Mgt.
Maintenance Team & Leasing Staff Working Well Together —Total Team Tactics for Higher Occupancy
Overcoming— Renewal Objections Jen Piccotti, SatisFacts
Kate Good
STATE LEGAL Updates: Rent Control; Tenant Screening; B&O Tax on Real Estate; Deceased Tenant Bill; Tenant Relocation Assistance; Changes to L/T Act Eric M. Steven, Atty., WROA Rob Trickler, Atty., WROA Mark Gjurasic, Lobbyist Sean Martin, RHA; Bill Hinkle, RHA
Inside the Mind of a Evaluating/Establishing Dealing with Difficult DOGS & CATS—Also, Renter—Research Your Rental Policies & Working with on what Drives a Renter: Procedures—for Small Service Animals Amenities VS. Location; Property Owners How They Search; Tamara Simon, Koss Property Mgt. Bill Jackson Pricing & More Mary Kaye O’Brien, Zillow
3:10pm • 4:00pm
TRADE SHOW Your Maintenance Working Your Way Up Career—Is It a Straight the Management Line? Moving-up the Ladder & the steps it Maintenance Dept. takes to get there Phil Cresswell, Greystar Career Ladder Monica Yoshihara, Essex Property Trust Ali Henning, Greystar
Cheyenne Wallace, Greystar Rich Sorensen, Pacific Living Properties Chad Sullivan, Essex Property Trust
Reducing Damages & Claims—Risk Management for Managers & Owners Evan Loeffler, Atty.
Retention... Always Begins with the Prospect Jen Piccotti, SatisFacts
LOCAL LEGAL Updates: SEATTLE: Rent Control; Tenant Protections Laws; Rental Inspections & District Elections for ‘16; VANCOUVER-SPOKANE: Just Cause Protections Eric M. Steven, Atty., WROA Rob Trickler, Atty., WROA Mark Gjurasic, Lobbyist Sean Martin, RHA; Bill Hinkle, RHA
Tracy’s Sunshine Effect! Or...Staying Motivated at Work & Creating an Upbeat Atmosphere for Staff, Prospects & Yourself!
Tracy Atkinson,
Goodman Real Estate
Owners: Planning for the Unexpected—Protect Family & Investments...IF SOMETHING HAPPENS TO YOU!
Moderator: Charlie Spaeth Roger Bowlin, R.E. Transition Solutions Richard Gifford, Atty. Carla Valente, Lake R.E.
Through a Mystery Shopper’s Eyes—What Prospects & Shoppers Are Really Looking for when They Make Contact Bethany Mooradian,
Queen of the Random Job
TRADE SHOW
4:15 - Closing Speaker: 42
Kate Good • Customer Service Is Your New Marketing
Premium SigNature Sponsors
Plus the $1,500 DRAWING
TRENDS is Produced by Diamond Productions 206-779-5890
Rental Housing Journal On-Site · November 2015
Rental Housing Journal On-Site
Clock-Hours Workshops 2015 HOW THEY WORK To receive your 3 clock hour credits, you must first pay an additional $25 when you register 1. Anyone may attend the clock-hour workshops, even if you don’t want clock-hour credits. However, you only get the clock hour credits if you pay the additional $25. 2. Only the workshops taught by Chris Benis qualifies for washington state real estate clock-hours. 3. To qualify for the 3 clock-hours, you must attend all three classes taught Chris Benis.
Help Us End Veteran Homelessness
B
etween January and September, 717 homeless Veterans have been housed in King County. To end veteran homelessness by the end of the year, a goal of the King County and Seattle housing authorities, King County Veterans Program, the U.S. departments of Veterans Affairs and Housing and Urban Development, we must find housing for the remaining 403 homeless veterans, including 310 who have the ticket to ending homelessness in their hands today: a special purpose rental voucher. We need landlords who value what our veterans have contributed and who will accept that voucher. Veterans with these
vouchers receive case management and ongoing supportive services from the VA Puget Sound Health Care Systemn. If you or anyone you know can help by dedicating just one unit to house a local Veteran, please contact Jim Green
at KCHA, 206-957-2257, Jamesg@ kcha.org or All Home at http://allhomekc.org/one-home/#fndtn-landlords-for-veterans.
4. You must sign-in at each clock-hour workshop. 5. No one is allowed to leave the clockhour class once they start. The clock hours provided by the Washington REALTORS® Association
Faster & More Effective Compared to manual cleaning with solvents and a wire brush, dry ice blasting can cut cleaning time, leading to reduced costs. With dry ice blasting, you can clean your equipment, molds, and dies on line and "in place." There is no longer any need to disassemble, mask, and then reassemble large complex machinery. Downtime is minimized, labor costs are reduced, and productivity increased.
For the multi-family industry, Dry ice blasting can: Remove Graffiti Remove smoke and fire damage Paint removal including lead paint Tile removal, grout cleaning and restoration Kill mold and remove it even to the roots Clean grease areas, waste containers, remove adhesives Restore bricks and wood Remove cigarette/cigar smoke Concrete stain removal Clean outdoor fountains, statues and benches Restore wood surfaces without damage, no chemicals Remove calcium deposits from buildings To name just some of what it can do. If you have a need, give us a call 425 745 3031.
Rental Housing Journal On-Site · November 2015
A Dry Process Since dry ice sublimates (turns into carbon dioxide gas) upon contact, the process is dry. Dry ice blasting is non-conductive and safe for electrical applications where using water may not be advisable or permitted. No Media Waste Frequently the "clean-up" from your current cleaning method is worse than the cleaning itself. Dry ice solves that problem by eliminating secondary waste. Dry ice pellets do the job and simply disappear, eliminating the high disposal costs associated with other materials. Non-Abrasive The non-abrasive nature of dry ice means that cleaning won't damage sensitive surfaces, parts or production equipment, extending the useful life of equipment and minimizing the chances of defective products. Environmentally Friendly & Safe Dry ice cleaning is a "green" process that uses small pellets of recycled carbon dioxide to clean a surface. The pellets sublimate (turning from solid directly to gas) during the cleaning process. The carbon dioxide gas is absorbed by trees and plants and converted into carbon (plant growth) and oxygen. Dry ice blasting is really "green" recycling at its best. Jet City Dry Ice Blasting is a subsidiary of Jade’s Jet City Carpet Cleaning, Home of The Incinerator
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Rental Housing Journal On-Site
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Rental Housing Journal On-Site · November 2015