Valley Rental Housing Journal April 2015

April 2015

Rental Housing Journal Valley 2. Student Loan Debt Affects Real Estate Investments in a Big Way 4. What Does Your Workplace Culture Say About Your Organization?

6. Ask The Secret Shopper

EUGENE • SALEM • ALBANY • CORVALLIS

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WWW.RENTALHOUSINGJOURNAL.COM • PROFESSIONAL PUBLISHING, INC

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Energy-Efficiency Improvements Can Help Existing Multifamily Properties Remain Competitive Ten Cities With Skyrocketing Rent

By Christine DiGangi

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orry, Silicon Valley — rent in San Francisco is still on the rise. Zillow's Rent Index, which looks at median rents in the nation's hottest markets, has San Francisco and San Jose at the top of its list for largest year-over-year increase. As unwelcome as that news may be for people in the Bay Area, it's probably not surprising.

San Francisco tends to get the most attention when it comes to stories about the expensive places to live (New York, its constant competitor for that dubious distinction, saw only a 2.1% increase in median rent, compared to San Francisco's 14.9% jump), but housing costs have jumped significantly in some smaller markets, like Denver and Kansas City, Mo., as well.

The Zillow Rent Index is based on the estimated monthly rental price of properties in Zillow's database, including single-family homes, condos, co-ops and apartments, regardless of whether or not they're listed for rent. Nationwide, median rent increased 3.3% from January 2014 to January 2015, at $1,350. Here are the metro areas that had the largest yearcontinued on page 6 Professional Publishing, Inc PO Box 30327 Portland, OR 97294-3327

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+ In 2014, Energy Trust of Oregon Incentive Programs Saved Over $4.6 Million for Multifamily Property Owners

he U.S. Census Bureau confirmed that Portland is among the 10 fastest growing major metropolitan cities in the country.

Portland is also considered a top destination for investors, and for “millennials,” also known as Generation Y, which comprises almost one-third of the Portland population, and 24 percent of the U.S. population.

It is expected that during 2015, the millennial demographic will have $2.45 trillion of purchasing power worldwide across multiple channels. This demographic is envi-

ronmentally conscious, technically savvy and community oriented -and the Portland metropolitan area is the community where many call “home.”

Portland is estimated to add 112,000 new apartment units over the next 20 years. Over 7,000 apartment unit permits were granted in 2014, and approximately 26,000 new units are in the current pipeline.

With evidence of a robust and healthy construction market, there’s no better indication that Portland’s multifamily market is in its prime.

Attracting younger residents to older properties So, how can existing multifamily properties remain competitive during this new construction boom?

Energy-efficiency improvements and retrofits are an affordable alternative that can help keep existing multifamily properties competitive and attract tenants. These improvements not only help to increase property value, but can provide significant cost savings while reducing energy consumption. Energycontinued on page 7

Angie’s List Shops The Market; Finds Lead-Paint Misinformation & Violations

By Jo Becker, Education/Outreach Specialist, Fair Housing Council of Oregon

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ast fall angieslist.com published a very interesting article for their subscribers entitled “LEAD: Still Lurking.” This month I’d like to share some salient points from that article with you.

Arm Yourself With Information Homeowners can’t rely on contractors and their local hardware store to know their stuff where lead paint is concerned.

What follows is portions of the Angie’s List article by Paul Pogue

PRSRT STD US Postage PAID Portland, OR Permit #5460

with additional reporting by Kaley Belakovich, Oseye Boyd, James Figy, Staci Giordullo, Garrett Kelly, Lacey Nix, Michael Schroeder, Stephanie Snay, and Cynthia Wilson.

Angie’s List takes lead paint seriously. That’s why they decided to conduct a “secret shopper” program this year to test contractors and hardware stores about their knowledge of lead safety.

It’s been four years since the Environmental Protection Agency (EPA) implemented its Renovation, Repair, and Painting (RRP). Did

awareness about the dangers of lead increase? Maybe. Are contractors passing along good advice about lead safety? Not always.

While interviewing candidates for the project, the last thing a consumer expects to hear is: “It’s just a bunch of B.S., really.” However, that’s exactly what one contractor told one of Angie’s List reporters.

Angie’s List contacted 150 randomly selected painters, remodelers and window contractors, and 50 hardware stores, in 10 major cities continued on page 3

Advertise in Rental Housing Journal VALLEY Circulated to over 6,000 Apartment owners, On-site, and Maintenance personnel monthly.

Call 503-221-1260 for more info.

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Student Loan Debt Affects Real Estate Investments in a Big Way

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By Clifford A. Hockley, President Bluestone & Hockley Real Estate Services

ally did everything right. She was accepted into her first choice college and received a first rate education to pursue her dream career. She filled out the student loan applications like everyone told her to; after all, she couldn’t afford the $90,000 degree without it.

When she graduated, she started out entry level in her chosen field, making near minimum wage which just covered her rent (with three roommates) and living expenses. She deferred payment on her student loans for 2 years but after watching the interest inflate her debt up to $170,000 she had to move back in with her parents to concentrate on paying it off before it got any worse.

Then her boyfriend proposed to her. He talked about wanting to buy a house and have a family, the whole American dream, but though he knew she lived with her parents in order to pay off her student loans, he didn’t know the extent of her situation. She knew her debt would make buying a house impossible, so she called her loan provider to see if she could get her interest reduced. They said no, she already had .25 for direct deposit taken. Her interest was 8%.

She could barely make the minimum required monthly payment to take

• They are hesitant to marry, because they don’t want to assume liability for unpaid student loan debt or they don’t want their future spouse and household to be burdened by the debt.

• They are hesitant to have children, because they can’t afford to raise them or put them through school. (The last thing they want is to have their children pay their student loan debt as well.)

• They are putting off medical care because they don’t have the money to pay the deductibles or even afford insurance premiums. care of the interest let alone get down to the principal. Worst of all, when she told her fiancé this, he withdrew his offer; he didn’t want her bad debt ruining his good credit.

According the National Association of Consumer Bankruptcy Attorneys, seven out of ten college seniors who graduated in 2012 had student loan debt, with an average of $29,400 per borrower. Currently 29 million of 86 million Americans aged 20 – 39 have some level of student debt, which translates into 16.8 million households. Because federal law treats student debt as non-discharge-

able in bankruptcy proceedings, borrowers can be burdened with this debt for a lifetime even if circumstances make it unlikely that the borrower will ever be able to repay.

Asking nicely won’t make it go away.

How does this affect real estate investors?

In a 2014 blog post, Rick Palcios Jr. and Ali Wolf of John Burns Real Estate Consulting, LLC, estimated that 414,000 real estate transactions would be lost in 2014 due to student debt. At a typical sales price of $200,000 for an entry level home, they calculated that out to $83 billion in lost sales volume or 8% of the total marketplace demand. (8% of 20 -29 year olds usually buy a home each year, which would be equal to 1.35 million transactions a year.)

They calculated that 5.9 million households under the age of 40 pay over $250 a month in student loans as compared to 2.2 million in 2005.

As a percentage, that is from 22% in 2005 to 35% in 2014. In that same eleven year timeframe, student debt increased from 241 billion to between $1.1 and $1.2 trillion dollars, which is even greater than current credit card debt.

That basically means that those that sought shelter in the halls of academia during the economic downturn, often have no way to pay it back. Even with a college education and a decent job, some of these college graduates live with as much expendable income as those under the poverty line since all their wages go to living expenses and to pay down their student debt.

We know that home builders are selling fewer homes. As investors, we want to know how long this will go on and how this will impact the demand for alternate living arrangements.

Bear in mind The percentage of students who cannot pay their student loans have a huge impact on American society and economic growth: • They can’t afford to buy a car, and their credit may be too bad to finance one.

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• They can’t buy a house, not only is their credit bad but they cannot afford the house payments, not to mention the down payment required to close.

Where does this take us?

We have already seen a boom in apartment construction. It is estimated that this boom will continue through 2015 as young people continue to move in together to save money. Many of those tenants don’t have a car and want to live in the downtown of a large city where they can walk or bike everywhere they need to go.

At some point, high downtown rents will force those with student loan debt out of the city center, because the rents needed to fund new construction will not be affordable. The Y generation will then need a car, a small used car with high gas mileage, or find a place with easy access to public transportation.

As they move to potentially lower rent apartments in the suburbs, their peers without student loan debt will be buying homes and home builders will see some increased demand.

Another option for the future would be to encourage the federal government and Sallie Mae, (one of the major holders of student loan debt,) to refinance loans at lower interest rates and to forgive late penalties and interest rate hikes since, as they say, you can’t squeeze water from a stone.

Credit unions are showing some interest in helping the Y generation recapitalize their debt, but they are very cautious, and should be given that many of these student loans are delinquent and their holders have low credit scores.

If the Y generation can refinance this debt, then the opportunity exists that within 5 – 7 years a new cohort of buyers might end up in the housing marketplace. In the meantime the members of this debt-ridden generation are renting apartments and houses together, fueling the apartment building boom.

Rental Housing Journal Valley • April 2015

RENTAL HOUSING JOURNAL VALLEY

Lead-Paint... .continued from front page telling them a 2-year-old child’s room in a 1920s house was being renovated. What, they asked, were the proper methods to strip paint or replace windows? Nearly 11% of those contractors, and 47% of hardware stores, gave poor advice. Here are a few examples: • “Lead only harms you if you eat it.”

• “Just close the door, wear a mask.

• “You might just be able to throw [lead paint debris] in the trash.”

• “The whole lead thing is very overblown unless your kids are chewing or gnawing on the windowsills.”

While lead-safety awareness has increased, homeowners can’t rely on contractors and their local hardware store to know their stuff where lead paint is concerned. Your best defense? Arm yourself with information.

Sadly, Angie’s List staff found that a significant number of those renovation contractors — nearly 11 percent — offered consumers bad advice when it comes to lead safety.

But even more disconcerting, nearly 32 percent of those contractors told us they did not have the required EPA lead-safety certification.

Every lead-painted surface contains invisible poison, easily unleashed by scraping, sanding, or melting the surface – all common techniques in renovations.

Lawmakers banned lead-based paint

LEAD REQUIREMENTS In ‘96 federal regulation was passed requiring housing providers to disclose to potential buyers and occupants that pre-‘78 residences may contain lead-based paint before the consumer was obligated by contract. This involved distribution of a “Protect Your Family from Lead In Your Home” brochure and signatures a disclosure form.

The RRP regulation was layered on top of the ’96 law, requiring those doing work that disturbs at least six square feet of painted surfaces inside pre-’78 homes (or 20 square feet on the exterior) provide residents with the “Renovate Right” brochure and complete another accompanying disclosure form.

Two years later EPA went on to stipulate that those doing such work must be certified (or hire someone who is) and follow specific work practices to prevent lead contamination.

in 1978 but contractors working in older properties operated with very little regulation until the EPA instituted the RRP Rule in 2010.

Nationwide, about 40 percent of the housing stock remains at risk for lead paint, according to the EPA. Angie’s List estimates that number may be higher for its members as 46 percent of them report living in a pre-1978 home.

According Wendy ClelandHamnett, director of the EPA’s office of pollution prevention and toxics, “Our certified firms mentioned that they sometimes have to compete with firms underbidding jobs because that firm is uncertified and is willing to work without lead-safe work practices,” she says. “Those firms may be skirting other requirements as well.”

In the past year, Cleland-Hamnett says the EPA stepped up its enforcement efforts against noncompliant firms or individuals.

Going an additional step further to protect their members, Angie’s List excludes any contractor who performs this type of work and fails to provide proof of EPA certification from this service category and keyword searches. In addition, the site includes a notice on the company's profile to alert their members of the issue.

“Correct practices are very easy to spot,” according to Ron Peik, owner of a highly rated lead-paint remediation company in Mass. “You should be seeing lots of plastic being set up The following work methods are specifically prohibited because they have been proven to create significant levels of lead dust: • dry sanding or scraping, • removing paint by torching or burning, • the use of heat guns over 1100°F, and • machine-sanding or grinding without HEPA equipment.

Specialized paint strippers are available instead; some even render lead non-hazardous further decreasing risk to workers and residents.

Safe work practice requirements include, among other things, posting of signage during the project; the use of plastic sheeting to seal and prevent contamination outside the work area; and proper disposal of leadbased paint waste.

to contain the area, literally taped down so air doesn’t get in, and windows, ducts and doorways sealed off. Homeowners really should insist on looking at the containment before actual work is executed.”

The most important thing owners of pre-1978 homes can do is hire certified contractors on jobs that disturb lead paint, and verify that the contractor follows the law.

Angie’s List also offers a LeadSafe Practices Checklist to protect yourself and your property. You can find it at www.angieslist.com/articles/lead-safe-practices-checklist. htm and additional resources at www.angieslist.com/articles/leadpaint-safety-what-you-need-know. htm.

For help with your own, specific lead questions, call the free Leadline at 503/988-4000.

A reminder that although lead poisoning is especially dangerous for kids, the fear of lead poisoning or liability does not give housing providers the right to deny or discourage families with children away from pre-1978 using. Familial status is a protected class under federal fair housing law and doing anything to deny or discourage otherwise qualified families is illegal.

Visit www.FHCO.org for more information on this topic.

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Federally protected classes under the Fair Housing Act include: race, color, national origin, religion, sex, familial status (children), and disability. Oregon law also protects marital status, source of income, sexual orientation, and domestic violence survivors. Additional protected classes have been added in particular geographic areas; visit www.

FHCO.org for more information.

This article brought to you by the Fair Housing Council; a civil rights organization. All rights reserved © 2015. Write jbecker@FHCO.org to reprint articles or inquire about ongoing content for your own publication.

To learn more… Learn more about fair housing and / or sign up for our

KNOW THE RISKS Lead paint lurks in nearly half the nation’s homes. Here are several risk factors to consider, according to the EPA and highly rated lead testers: • About 38 million homes in the US, representing 40% of the residential housing stock, contain lead-based paint.

• Any home build before 1978 might still have lead paint. And the chances increase the older the home.

• Window and door frames often contain lead even when the rest of the home doesn’t, and they present particular dangers.

Friction or impact surfaces such as door frames, stairs, and window s can break down the paint during normal use and release lead into the home. Some ceramic tile in pre-1978 homes also contains lead, which might be released if the tiles are removed or broken.

• Deteriorated paint presents a significant hazard, as it releases paint chips and lead dust. Even small amounts of dust – not just chips – can easily be ingested by young children.

• Soil can become contaminated when exterior lead paint flakes or peels off.

free, periodic newsletter at www.

FHCO.org.

Qs about this article? ‘Interested in articles for your company or trade association? Contact Jo Becker at jbecker@ FHCO.org or 800/424-3247 Ext. 150 Want to schedule an in-office fair housing training program or speaker for corporate or association functions?

Visit www.FHCO.org/pdfs/classlist.pdf

pl e a s e v i s i t u s at www. rent a l h o u s i n g j o u r na l .co m

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Advertise in Rental Housing Journal Valley Circulated to apartment owners, on-site, and maintenance personnel monthly.

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Scott Arena President, Multifamily Northwest

What Does Your Workplace Culture Say About Your Organization?

Presidents Message April 2015

By Scott Arena ave you ever walked into the offices of a particular company and felt a “vibe”. It’s usually a feeling of energy and often difficult to explain but nonetheless very present and very real. Positive, neutral or negative, this work place “atmosphere” is determined by, and reflective of, a company’s culture.

Workplaces are typically comprised of many different personality types with various backgrounds and diverse views. Although this makes for interesting interaction and learning, it can also bring conflict and struggle. The backdrop of culture can significantly impact the environmental conditions – and determine direction toward positive or negative daily performance and overall results. Defining and maintaining a company culture takes effort, coordination and planned direction.

Too often people are frustrated by their workplace culture. Having a great one can be elusive and rare and feel like impossibility for some leaders. Negative or toxic personalities

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can place barriers to open communication and creativity. When these styles become dominating - apathy, pessimism and infighting can follow.

All of which prohibit innovation, forward thinking and growth.

A bad culture can cause stress and poison morale. Who would look forward to coming home from a day of working with downers and naysayers? It certainly would not be motivating – and likely causes tiredness and tension at home.

Conversely, a good culture fills one with positive energy and the desire to engage and improve oneself, others in the organization, and work towards favorable outcomes.

This environment is inviting and inclusive and prompts desire to participate and contribute. It promotes teamwork and encourages members to be a part of something bigger than themselves.

Early in my career I was fortunate to be a young manager at a large, new high-end lease up. What started as a pressure-filled, high stress atmosphere with less then optimal leasing results became a fun, high-energy, motivating, and success-fueled program within three months. One key

change prompted this shift – a change in group attitude that changed the culture. A culture of “fear of job-loss” transformed into “lets prove what we can accomplish”. This was a mind-set adjustment that ultimately led to recordlevel leasing results and, most importantly – support and respect between staff. It was an exciting time and great learning experience.

How do you know if YOUR company has created a great culture?

Author Tim Stevens (Fairness is Overrated: And 51 Other Leadership Principles to Revolutionize Your Workplace) notes twelve signs that a great culture exists in your company: 1. People are waiting in line to join your team. It’s about more than just compensation for your employees. You might pay less. But word is out about your company.

And people want to join your team and be a part of it.

2. Turnover is low. Most top executives stay on long term due to comfort and pay. But look at

support positions. If long-term people hold entry-level and mid-level positions, it’s a positive indicator of healthy culture.

3. Top leaders want others to succeed. They promote from within and support education and professional development.

4. No Gossip allowed. At every level in the company, gossip is not tolerated and speaking directly to the individual is encouraged.

5. Great lateral leadership. Leading people below you can be easy.

Leading colleagues and co-leaders is different. A strong culture sees people coming along side their peers to encourage or on occasion correct and redirect.

6. Team members are energized and motivated. Leaders at all levels talk about the mission. They are energized and constantly thinking of ways to get it done 7. It is more than just a job. People socialize outside of work. They ...continued on page 7

Multifamily NW

Upcoming Educational Opportunities 4/1/2015 April Landlord Study Hall 4/2/2015 WA Landlord Tenant Laws: Forms to Evictions 4/2/2015 NALP Relevant Laws and How to Apply Them 4/7/2015 Mold Awareness and Remediation 4/10/2015 It's the Law Series: Crazy But True: Stories from a Full Moon 4/14/2015 CAMT Interior Exterior Maintenance and Repair 4/16/2015 CAM Management of Residential Issues

4/17/2015 NALP - The Sales Process and Building Relationships 4/20/2015 New Hire Training "An Introduction to the Industry" 4/21/2015 Strengthening Frontline Skills for Maintenance 4/22/2015 Spring 2015 Apartment Report Breakfast 4/24/2015 Fair Housing Bus Tour 4/29/2015 NALP Effectively Meeting the Needs of Current Residents 5/4/2015 OR Landlord Tenant Law Part 1 5/5/2015 Summer Preventative Maintenance

Form of the Month

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Rental Housing Journal Valley • April 2015

RENTAL HOUSING JOURNAL VALLEY

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Rental Housing Journal Valley • April 2015

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RENTAL HOUSING JOURNAL VALLEY

he

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he importance of teamwork can not be overstated or emphasized enough. Yet sometimes boundaries are so clearly drawn regarding the role or “job description” of each staff member, that those who desire to “go the extra mile” are forced to remain at the starting line and watch prospects and residents “fall through the cracks.”

I was recently asked the following question which brings up the issue of maintenance and leasing staffs getting involved with each others’ job duties: Q: Is it appropriate for maintenance staff members to get involved in

Skyrocketing Rent

A: This is a very important subject, and it brings up another question: Is it appropriate for leasing/ office employees to get involved in some aspects of maintenance and how far should they go?

As property management companies have to make difficult budget decisions. Some budget cuts have involved a reduction in leasing and maintenance personnel. The result is less office coverage and slower response time to resident requests, as one or two team members are trying to do the jobs of three or four people.

Providing some “basic” training

to your leasing and maintenance personnel to create an “overlap” in their job responsibilities will take some of the pressure off your team members and provide better service to prospective residents and existing residents.

If a leasing person is away from the office and a maintenance staff member encounters a prospective resident, the maintenance person at the very least could extend a warm, friendly greeting. The visitor could be made comfortable and offered refreshments, if available, and be given a brochure to look at while he or she is waiting. If a guest card or visitor log is available, the maintenance person could request

that it be filled out. Then, if the wait time becomes excessive and the prospective resident has to go, there will be a record of the visit, and a way to follow up.

Office personnel can provide this same type of support to their maintenance team, when they are busy turning apartments and handling service requests. Every person working in the office should know how to operate a plunger and an Allen wrench. Leasing team members must also be willing to pass out flyers, pick up litter, sweep sidewalks, maintain common areas, etc. If you are constantly paging maintenance to pass out your lease renewal letters ...continued on page 7

...continued from front page

over-year price jumps.

10. Detroit Median rent, January 2015: $1,096 Increase since January 2014: 5% 9. Phoenix Median rent: $1,225 Increase: 5.3%

the leasing process and how far should they go?

8. Houston Median rent: $1,497 Increase: 5.9%

5. Portland, Ore. Median rent: $1,587 Increase: 7.2%

7. Charlotte, N.C. Median rent: $1,235 Increase: 6.1%

4. Kansas City, Mo. Median rent: $1,214 Increase: 8.5%

6. Austin, Texas Median rent: $1,657 Increase: 7%

3. Denver Median rent: $1,827 Increase: 10.2% 2. San Jose, Calif.

Median rent: $3,190 Increase: 13.4% 1. San Francisco Median rent: $3,055 Increase: 14.9% Only two of the 36 markets listed in Zillow's index had drops in median rent: Minneapolis-St. Paul (down 0.3%) and Chicago (down 0.5%), though both cities still have aboveaverage median rents, at $1,502 and $1,609, respectively.

While New York and Los Angeles didn't have top-10 increases in their median rents, the first- and secondlargest cities in the U.S. still have some of the highest housing costs.

L.A.'s median rent increased 4.9%

from 2014 to $2,460 (third highest), and New York/Northern New Jersey came in at No. 4 with a median rent of $2,331.

Rent experts consulted by Zillow for this report say Americans should expect to spend about 30% of their incomes on rent, as opposed to 25%, which the report says is the historical standard. No matter where you live, whether it has skyrocketing or steady rent, it's crucial to choose a place that fits your budget. Failing to pay your rent may prompt your landlord to send a debt collector after you or even evict you from the property, both of which will seriously damage your credit. Poor credit makes it harder to get an apartment, not to mention the fact that utility providers often ask for deposits from poorcredit customers, so as tempting as it may be to breach your rental budget, that up-sell could really cost you.

You can get a free credit report summary on Credit.com to see where you stand.

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Energy-Efficiency ...continued from front page efficiency improvements and retrofits can go a long way to winning over the millennial demographic.

In 2014 alone, Energy Trust expects that assistance to multifamily property owners could result in over 21 million annual kilowatt hours and over 300,000 therms in energy savings, with approximately $4.6 million in cash incentives. An Energy Trust advisor can provide a no-cost walkthrough survey to identify energy-efficiency opportunities for cash incentives, and determine where the largest savings potential exist at your property. Energy Trust

also provides technical assistance and can recommend qualified energy-efficiency contractors to help you get started.

To learn how other multifamily property owners have benefited from energy-efficiency improvements visit www.energytrust.org/multifamily, contact us at multifamily@energytrust.org or call 1.877.510.2130.

Secret Shopper ...continued from page 6 or handle minor messes around your community, then you are delaying the make ready process, as well as prompt service to your residents.

REMEMBER: Being part of a team means doing whatever it takes to get the job done; whether it’s your job or not!

If you are interested in leasing training or have a question or concern that you would like to see addressed, please reach out to me via e-mail.

Otherwise, please contact Jancyn for your employee evaluation needs: www. jancyn.com

ASK THE SECRET SHOPPER Provided by: Joyce (Kirby) Bica Former owner of Shoptalk Service Evaluations Consultant to Jancyn Evaluation Shops Phone: 425-424-8870 E-mail: shptalk2@gmail.com Copyright© Joyce (Kirby) Bica

Organization ...continued from page 4 enjoy the company of the people they work with. Professional and respectful, they spend time together because they have a good time.

This alleviates concerns and staff no longer dreads new directions.

Revealing the evidences of a great culture is a welcome thing.

Building a positive culture is a day-by-day process. It takes time and commitment on behalf of leadership and management. For any company seeking top performance in employees and extraordinary results, promoting aMETRO, good culture is essen- APT VALLEY, ARIZONA tial. When your team gets up in the mornings and cannot wait to spend the next several hours working 9. People are smiling. Look around. together towards a rewarding goal, Even in times of high productivsuccess is imminent. This type of ity and intense focus, people are culture nurtures positive energy, cresmiling, enjoying conversations ating Oct, a happy Feb, Apr, Jun, Aug, Decenvironment that and having a good time. Laughter attracts people. The workplace literis not a rare event. ally becomes a place that breeds excitement - and an energy that peo10. No fear. People are not fearful of saying the wrong thing in front ple begin to crave and need and, most important, want! of the wrong person. There is no Who would you rather have on trepidation about things being your team? Someone who is there overheard. No hushed conversaonly because they have to be? Or tions behind closed doors. When someone who is positive, motivated one goes in to speak with a supeand really wants to be there! The rior they can walk out knowing choice should be a simple one. A they were heard. great culture should be a founda11. Communication is strong. Evtional component of any successeryone communicates from every driven organization. Just like Field level of the organization – top to “If you build it…they APT VALLEY, ARIZONA bottom. No surprises when things of Dreams, METRO, will come”. are communicated well. Mes8. The team is more important than the task. Employees have a sense that they matter. They are not just people filling tasks. They feel valued and appreciated. Everything in the culture, systems, language and structure sends a message of “you matter and all you do is important!”

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To learn more visit www.energytrust.org/multifamily or call 1.877.510.2130.

Serving customers of Portland General Electric, Pacific Power, NW Natural and Cascade Natural Gas.

CASE STUDIES ABOUT MULTIFAMILY PROPERTIES Energy Trust has helped hundreds of multifamily property owners and managers get more from their energy by saving them thousands in operating costs and improving their bottom line.

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Rental Housing Journal Valley • April 2015