Professional Publishing, Inc
www.TheLandlordTimes.com
ON-SITE
SEATTLE • TACOMA • OLYMPIA • EVERETT 17,000 PAPERS MAILED MONTHLY
TO
Vol. 22 Issue 7
July 2013
Published 22 Years
Get Social With The Landlord Times
PUGET SOUND APARTMENT OWNERS, PROPERTY MANAGERS & MAINTENANCE PERSONNEL
Published in association with: Washington Apartment Association, IREM & Washington Multifamily Housing Association
Metro Seattle Rents Surge 3%
Apartment Insights survey shows rents increasing 3% in the second quarter. Over the past year they have risen 5.8%, reports Tom Cain of Apartment Insights. The data are from his Seattle firm’s 2nd quarter statistics and trends on 50+ unit properties in the King/Snohomish market. VACANCY: 4.41% The vacancy rate for conventional, stabilized 50u+ properties in the King/Snohomish market is 4.41%, down from 4.58% last quarter, and 4.83% a year ago. Of the two counties, King showed the biggest improvement with its rate dropping from 4.53% to 4.31%. Snohomish remained virtually the same at 4.79%. The overall vacancy rate which includes properties in lease-up and out-of-service decreased from 5.99% last quarter to 5.77%. Continued on page 3
National Rent Growth Slows for Eighth Consecutive Quarter Axiometrics Inc., the leading provider of apartment data and market research, reports that at the national level annual effective rent growth slowed to 3.2% in the second quarter of 2013. For comparison, annual effective rent growth in the second quarter of 2012 measured 4.0%. Further, Axiometrics’ data indicates that the effective rent growth rate has slowed for eight consecutive quarters as many Metropolitan Statistical Areas (MSAs) are decelerating from very strong growth the previous three years. Peak annual rent growth at the national level during this current cycle was 5.3% in July 2011. Despite the slowdown nationally, many individual markets are still generating very strong rent growth
Current Resident or
As a rental housing manager you probably get “stuck” occasionally with old PC’s, computer monitors or TVs from former tenants. You may have paid to recycle them in the past or maybe you have dumped them in the trash (hopefully only if it is legal to do so in your area). There is a better option. Recycle them – for free. You can save money and do the right thing by recycling TVs, computers and monitors in Washington and Oregon through state regulated “E-Cycling” programs. The E-Cycle Washington program and the Oregon E-Cycles program provide free recycling for electronics including any abandoned TVs, computers and monitors that rental housing managers may have to deal with. Here are links to each program’s website including how to find free drop-off locations in your area: Continued on page 22 Page 6
Chapter 27 Institute of Real Estate Management “THROUGH THE PERILOUS FIGHT” Page 14
STAYING CONNECTED IN THIS INDUSTRY Page 17
Continued on page 5 Professional Publishing, Inc PO Box 30327 Portland, OR 97294-3327
Rental Housing Managers Can Recycle Electronics for Free!
PRSRT STD US Postage PAID Seattle, WA Permit #741
Please note any problems below and notify us at: PO Box 30327 Portland, OR 97294-3327
❑ My name was misspelled ❑ Remove my name from the On-Site mail list ❑ Change of address:
Washington Apartment Association
MAY CONSTRUCTION CLIMBS 5 PERCENT