Professional Publishing, Inc
March 2013 - Vol. 5 Issue 3
www.TheLandlordTimes.com
UTAH UTAH
SALT LAKE CITY • OGDEN • PROVO Official Publication of the
Utah's Leading Advocate for the Rental Housing Industry Ph: 888-244-0401 • www.uaahq.org
Top Ten Reasons to Attend the 2013 UAA Education Conference and Trade Show SALT LAKE CITY • OGDEN • PROVO
10. Clean out those closets and bring in old coats to benefit The Road Home. 9. Someone you know will love something that you pick up from one of the trade show vendors—whether a stuffed animal for your kids or the keychain flashlight for your mom. 8. With a $500 giveaway at the trade show and a $1,000 prize during lunch-why shouldn't it be you?
7. The theme is superheroes and hundreds of people will be dressed up in spandex and capes...the entertainment and people-watching angle alone promises a day of fun. 6. At the end of the day over 70 large prizes ranging from mountain bikes to gift cards are given away to attendees. Come try your hand and see what you can win! 5. With 21 different education sessions you can learn a huge amount in just one day.
Presented by:
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National Apartment Strong Job and Association Education Population Growth Cause Conference and Expo to be Rent Increases for Salt Held in San Diego in June Lake Multifamily Units
The 2013 NAA Education Conference & Exposition is headed to San Diego California June 20-22 at the San Diego Convention Center. June is a beautiful time to be in one of America’s most beautiful cities, and the conference is packed with enlight-
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enment, entertainment and education. Each year, the National Apartment Association (NAA) hosts the NAA Conference and Exposition—the largest event in the multifamily housing
Current Resident or
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PRSRT STD US Postage PAID
Snohomish, WA
Permit #5
Jed Millburn, Managing Principal ARA Utah The Greater Salt Lake City multifamily market has continued to strengthen during 2012. Vacancy rates have steadily improved, dropping from 5.3 percent in January 2012 down to 4.2 percent in the third quarter of 2012. With the market vacancy tightening, average rent growth was 3.6 percent from mid-year 2011 to midyear 2012. The average rent per unit is now at an all-time high of $802 per unit— eclipsing the average rental price of $771 per unit in early 2008. Many factors contributed to the positive rent growth and the contraction of vacancy rates, but the most significant were strong job growth and population growth. Utah’s job growth currently ranks fourth in the country at 2.6 percent, adding more than 32,000 jobs over the past 12 months. Utah’s job market is strengthening as the state’s unemployment rate dropped to 6 percent in June 2012, the lowest it has been since Continued on page 5
IN THIS ISSUES: Collecting From Bad Tenants Requires Preparation .......... Page 3 UAA Growth Strong ................... Page 4 Attend your Industry’s Annual Conference on April 17th ............. Page 5 Products & Services Guide .................... Page 6 UAA MEETINGS April 18th (Logan) 6:30 PM April 23rd (Ogden) 7:00 PM April 24th (Orem) 7:00 PM April 25th (Salt Lake) 7:00 PM