Rental Housing Journal OnSite February 2017

Page 1

Rental Housing Journal On-Site

February 2017

3. The Informed Investor - Utilizing Changes 5. Home Buyers in Expensive Markets See a Longer Wait to Break Even 6. Dear Maintenance Men – Caulk, Plumbing, Doors and Curtains 7. Prepared Property Managers Can Handle What Comes Down the Pipeline

8. Pockets of Affordable Housing Exist Within the Most Expensive Markets 9. The Value of Strategic Planning 10. Examining the National Boom in Markets Demand for Luxury Apartments 11. Are Urban Areas Running Out of Millennial Renters? 13. More Young Unmarried Couples Buying Homes Together

14. Swift Gains in Fourth Quarter Push Home Prices to Peak Levels in Majority of Metro Areas 15. Americans Overoptimistic About Homeownership This Year 16. The Best Real Estate Investment Opportunities in 2017

www.rentalhousingjournal.com • Professional Publishing, Inc 17,000 Papers Mailed Monthly To Puget Sound Apartment Owners, Property Managers & Maintenance Personnel Published in association with Washington Association, IREM & Washington Multifamily Housing Association

Handling Pierce-Kitsap-Thurston Shows Employee Continuing Strength Evictions

Seattle - Apartment Insights 4th quarter results show the continuing strength of the rental market. The vacancy rate is 3.64%. Rents climbed 1.5% to $1,111 per month. Not considering rent levels, the market here outperformed metro Seattle for the third straight quarter 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.

M

Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007

P A I D

Sound Publishing Inc 98204

PRSRT STD US Postage

any communities require their employees to live onsite, and the often include an apartment as part of their compensation. As in any business, management must sometimes terminate employees. This article will examine the acceptable grounds for termination and the procedures to require terminated workers to vacate the premises. Most employees are “at will.” This means they work at the pleasure of the employer. The law presumes every employment contract for an indefinite term to be terminable at will. As an “at will” employee, his or her employment is for an indefinite term at sufferance. Either party could terminate employment at will for no cause or any cause. Another term for this is the employmentat-will doctrine. continued on page 21

Vacancy: 3.64% The market vacancy for our nonrandom survey of conventional, stabilized 50+ unit properties in all three counties is 3.64%, up from 3.32% continued on page 19

Jobs For Property Managers Pay Higher Than Average U.S. Salary by John Triplett, Desert Path Marketing Group

J

obs for property managers pay higher than the average salary in the U.S. at $55,380 per year and show growth potential of 8 percent through 2024, according to a release. The property managers jobs were in a list put together by CareerToolkit.com of high paying jobs that anyone can review free of charge. The salaries range from $50,000K up to $100,000 and more per year. The report chose $50,000 as high-paying since the average median wage is $36,200 per year according to the Bureau of Labor Statistics (BLS) May 2015 reports. “Employment of property, real estate, and community association managers is projected to grow 8 percent from 2014 to 2024, about as fast as the

average for all occupations,” according to the BLS. “Job opportunities should be best for those with a college degree in business administration or real estate and for those who obtain professional credentials,” according to the BLS website. While the average salary was $55,380, there is a range among property managers and association managers, according to the survey. • Median salary - $55,380 • Salary range - $28,490 to $123,790 per year • Job growth – 8% (as fast as average) continued on page 17

Advertise in Rental Housing Journal On-Site

Text REALESTATE-ROI to 44222

Circulated to over 20,000 apartment owners, on-site and maintenance personnel monthly.

to receive a digital copy of this year's

Call 503-221-1260

Real Estate Opportunities in Investing (ROI) Finding Investing Success in Today's Housing Market


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.