Professional Publishing, Inc
www.TheLandlordTimes.com
ON-SITE
Vol. 22 Issue 3
March 2013
Published 22 Years
SEATTLE • TACOMA • OLYMPIA • EVERETT 17,000 PAPERS MAILED MONTHLY
TO
PUGET SOUND APARTMENT OWNERS, PROPERTY MANAGERS & MAINTENANCE PERSONNEL
Published in association with: Washington Apartment Association, IREM & Washington Multifamily Housing Association
Seattle's Fourth Quarter 2012 Insight Into The Rental Applicant Risk Index Report By Jay Harris, Vice President of Business Services, CoreLogic SafeRent The CoreLogic® SafeRent® Renter Applicant Risk (RAR) Index Report, formerly known as the Multifamily Applicant Risk (MAR) Index Report, provides market-based benchmarks for evaluating credit quality and risk of default for renters applying for apartment homes in multifamily housing units. The index also includes data from single-family rentals. Using a mean of 100, an index value above 100 indicates decreased risk, and a value below 100 indicates increased risk. According to the data, the risk of default among renters nationwide decreased year over year in the fourth quarter of 2012 with an index value of 103 compared to the fourth Continued on page 3
Study: Apartment Construction and Operations Contributed $3 Billion to Seattle Economy Washington received $28.7 billion economic contribution from the combined construction, operation and resident spending, says new report “The Trillion Dollar Apartment Industry” Despite the worst economy in a generation, apartment construction and operations contributed $2 billion to the metro Seattle economy in 2011 supporting 23,000 local jobs, according to a new report released today by the National Multi Housing Council (NMHC) and the National Apartment Association (NAA). In addition, apartments and their residents statewide contributed $28.7 billion to Washington’s economy supporting 678,000 jobs. The report, along with an interactive map and economic impact calculator, is availProfessional Publishing, Inc PO Box 30327 Portland, OR 97294-3327
able on the new website www. WeAreApartments.org. Based on research by economist Stephen S. Fuller, Ph.D., of George Mason University’s Center for Regional Analyasis, the report covers the economic contribution of apartment construction, operations and resident spending on a national level plus all 50 states. In addition, construction and operations data is available for 12 metro areas: Atlanta, Boston, Chicago, Dallas, Denver, Houston, Los Angeles, Miami, New York City, Philadelphia, Seattle and Washington, D.C.
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Highlights from the report include: • Nationally, the apartment industry and its residents contributed $1.1 trillion to the economy in 2011, or more than $3 billion every day. This combined spending supported 25.4 million total jobs. • Within the Seattle metro area, the apartment industry spent $507.4 million on new apartment construction, creating a total economic contribution of $1.1 billion supporting 8,800 local jobs in 2011. Continued on page 15
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6 Questions with Katie Poole-Hussa The Landlord Times recently caught up with Portland Oregon based property manager, landlord educator and Smart Property Management partner Katie PooleHussa. See what she has to say about motivation, inspiration and fundamentals in her life as a property management professionals. The Landlord Times: What’s your story? What is your background and how did you get into the property management industry? Katie Poole-Hussa: I had been a receptionist in the lumber industry for 6 years., and was attending college classes, as I was able, in an attempt to discover what I wanted to be when I grew up. Through the mandatory “Career And Life Planning” class that the college required of me, I was forced to explore my professional
Continued on page 5 Page 16 Washington Apartment Association
NEW UPDATES ON CARBON MONOXIDE ALARM REQUIREMENTS... Page 14
LEGISLATIVE ADVOCACY FOR THE APARTMENT INDUSTRY Page 6
Chapter 27 Institute of Real Estate Management IREM® REVEALS WOMEN CHANGING THE WORLD OF REAL ESTATE...