Rental Housing Journal Colorado
November 2013 - Vol. 5 Issue 11
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COLORADO DENVER • COLORADO SPRINGS • BOULDER
DENVER METRO •
Professional Publishing, Inc • www.RentalHousingJournal.com
Monthly Circulation To More Than 7,000 Apartment Owners, Property Managers, On-Site & Maintenance Personnel
Apartment Vacancies Hit 18 Year Low as Market Tightens Across Front Range
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partment vacancy rates across Colorado’s Front Range remained low during the third quarter, with northern Colorado’s markets reporting occupancy rates of more than 97 percent in most submarkets and Greeley hitting near an all-time low in vacancy. According to a report released Wednesday by the Colorado Division of Housing, the vacancy rate was 2.8 percent in the Fort Collins-Loveland area and only 1.3 percent in Greeley, which was the lowest vacancy rate reported in Greeley since 1995. The vacancy rate fell, year over year, in Colorado Springs and in Pueblo, signaling growing demand for apartments in all Colorado metros except Grand Junction. “As usual, employment is a major driver in all metros, as is the fact that new multifamily construction has only recently begun to pick up in Greeley.” In Colorado Springs, the vacancy rate fell to 5.4 percent from last year’s third-quarter rate of 6.1 percent, and in Pueblo, the rate fell to 9.3 percent during the third quarter from 15.8 percent a year earlier. Grand Junction’s vacancy rate remained relatively high at 7.8 percent reflecting a shrinking labor force and flat employment totals over the past year in that metro area. The metro Denver vacancy rate, measured in a separate survey, was 4.4 percent, up from 4.3 percent during the third quarter of 2012. The average rent increased, year over year, in all metros except Grand Junction from the third quarter of 2012 to the third quarter of 2013. The largest increase was found in Colorado Springs where the average rent rose 5.4 percent, year over year, Continued on page 2 Professional Publishing, Inc PO Box 30327 Portland, OR 97294-3327
Dear Maintenance Men: By Jerry L'Ecuyer & Frank Alvarez
right of the center mark. Cut and label this piece Left Hand Corner Inside. Test your samples in an inside corner where the wall meets the ceiling. The two pieces should form a 90-degree corner.
Dear Maintenance Men: Do you have a recommendation for exterior lighting that will make the property stand out from its neighbors? Jorden Dear Jorden: We did a recent job involving half inch 120 volt LED rope light. The rope light was installed under the eaves and out of the way. From the ground the light appeared to emanate out from the eaves and down the walls. The light is indirect and made for a very interesting look. The side benefit of the rope light was not only did it look great; it shed light in all the dark corners around the building. LED rope light is more expensive than the incandescent rope light, however, it is economical in the long run, it has a long service life and the rope does not get hot or even warm to the touch. (We DO NOT recommend incandescent rope light.) LED Rope light comes in 150 foot rolls and with the proper rectifier in place, up to 1200 feet can be used from one electrical source. The light comes in cool white, natural white and warm white along with a variety of colors. The rope light can be installed onto a plastic track to help keep it straight and to eliminate any drooping of the rope. Remember to pre-drill the track before installation. LED rope light is perfect for under stairs, balconies and anywhere you need soft indirect light. Keep in mind, it does not throw light very far and will not light up a courtyard, it is mainly for aesthetics. Dear Maintenance Men: We are preparing to gussy up our rental property by adding crown molding in each room. The quote I got from the contractor was astronomical! I want to teach my maintenance tech how to install crown molding, however after looking at molding how-to books and the internet, I am about to give up on the idea. It looks very complicated. Can you help? Ron
Current Resident or
PRSRT STD US Postage PAID
Snohomish, WA
Permit #5
Dear Ron: We know what you mean; anyone who has installed crown molding for the first time knows the frustration. But it need not be! Crown molding truly is easy to install and yes, we said easy. Throw the book away; it only serves to show how smart the author is, but not very practical. We are going to describe a method that we learned long ago that absolutely simplified crown molding installation. The key is to cut the molding in the same position that it will be install on the ceiling and to make visual samples. It is important to make a set of sample pieces for reference. 1A: Inside corner: cut two 12-inch pieces of molding to use as a sample. Place that sample up on the wall and ceiling for a visual. Now bring that sample to your saw and lay it to the left of the blade, against the vertical fence or backstop. Position the sample exactly in the same orientation or position as it was on the wall/ ceiling. (The sample piece will not be flat against the fence; it will stick out just like it does on the wall.) Now position your saw blade in the 45-degree position and left of the center mark. Cut the right side of your sample piece and label it Right Hand Corner Inside. 1B: Take the second piece of sample molding you cut and position it exactly like the first piece, but to right side of the blade. Put your blade in the 45-degree position, but this time it will be to the
2A: Outside corners: cut two 12-inch pieces of molding to use as a sample. Place that sample up on the wall and ceiling for a visual. Now bring that sample to your saw and lay it to the left of the blade, against the vertical fence or backstop. Position the sample exactly in the same orientation or position as it was on the wall/ ceiling. Set the blade at the 45-degree position and right of the center mark. Position the sample to the left of the blade. Cut and label Right Hand Outside Corner. 2B: For an outside left-hand corner, set the blade at the 45-degree position and left of the center mark. Position the sample to the right of the blade. After the cut, label the sample Left Hand Outside Corner. Test your samples in an outside corner where the wall meets the ceiling. The two pieces should form a 90-degree corner. The hard part is done; you now have sample cuts to refer to. After measuring the wall, place your measurements on the backside of the molding, the mark will be easier to see on the backside when cutting. (Hint: Mark the molding where the saw blade will first touch the work piece.) Cut a little long at first, and then trim with the saw until the molding fits. And don’t forget to repeat to yourself … “caulking is my friend!”. If the corner is not quite perfect, don’t worry, caulk the corners, and the mistakes disappear. Continued on page 3
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