Holiday Safety Tips

November

Monthly Fire Safety Tip Monthly Safety Tip For Multi Family Housing Tualatin Valley Fire & Rescue 503.649.8577

Holiday Safety

As the Holiday Season approaches, Tualatin Valley Fire & Rescue wants to encourage you to take safety measures to ensure you and your family has a safe and happy celebration.

Holiday Lights

 Use only UL approved lights.  Always use indoor lights/inside & outdoor/outside.  Never use light sets with broken or missing sockets, and/or frayed or cracked wires. Any one of these hazards may cause an electrical shock or fire.

Candles

 Place candles on candle holders that are sturdy, uncluttered, and are unable to be knocked over by people or pets.  Keep candles away from things that can burn such as curtains, decorations, trees or paper.  Always extinguish candles before leaving the room or going to bed.  Never leave candles unattended.  Keep matches and lighters out of the reach of children.  Better yet, use battery operated candles.

Holiday Trees

 Select a fresh tree. It should be green and the needles hard to pull from the branches. If the needles do fall off easily - - - the tree is too dry.  When you get home, make a fresh cut on the base of the tree and place in the tree stand.  Water immediately and daily as needed.  Place your tree away from heat sources and dispose of your tree by recycling it.  Never burn your tree in the fireplace.

Decorations

 Keep decorations away from open flames such as candles and fireplaces.  Never burn wrapping paper and/or plastics in the fireplace due to high flammability and/or off-gassing.

For more fire safety tips, visit www.tvfr.com

2021 Outlook for Portland & Oregon Cont.

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Portland Metro, Multnomah County and Oregon as a whole. Additionally, the potential for increased property taxes and Federal taxes in 2020 should also be closely monitored – all of which will impact investment property owners’ bottom line.

All in all, while we are relieved to soon have 2020 behind us, there is still plenty of uncertainty ahead. In addition to the above factors, your objectives and priorities are likely changing as time goes by. Perhaps increased stable income potential is a higher priority than appreciation? Perhaps 2021 is the year to consider estate planning strategies for your investment real estate? Perhaps you have had enough of the time, energy, and effort it takes to actively manage your real estate? As you reflect on 2020 and look forward to this coming year and beyond, we encourage you to reach out to us to discuss how best to align your rental properties with your financial and lifestyle objectives. We can educate you on your available options in order to effectively stage yourself for both the coming year and the next chapter of life. If you are considering a 1031 Exchange and have questions, contact Real Estate Transition Solutions to schedule a complimentary consultation. Our free consultations can be done over the phone, via web meeting, or in person at our office in Mercer Island, Washington, or in Portland, Oregon. To schedule your free consultation, call 206686-2211, email info@re-transition.com, or visit www.re-transition. com/free-1031-consultation. Austin Bowlin, CPA – Partner at Real Estate Transition Solutions, provides exit strategy analysis, execution, potential income, and equity replacement options for investment property owners. About Real Estate Transition Solutions Navigating the Exchange process successfully can be challenging and complex. For over 20 years, Real Estate Transition Solutions has helped investment property owners navigate and execute tax-deferred 1031 Exchanges, Delaware Statutory Trusts (DSTs), complex real estate investments, and tax planning strategies. Our team of dedicated 1031 Exchange consultants help clients select and acquire Exchange properties that seek to meet their financial and lifestyle objectives. To learn more about Real Estate Transition Solutions, visit our website at www.re-transition.com. The information herein has been prepared for educational purposes only and does not constitute an offer to purchase or sell securitized real estate investments. There are material risks associated with investing in DST properties and real estate securities including liquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potentially adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Potential cash flows/returns/appreciation are not guaranteed and could be lower than anticipated. Diversification does not guarantee a profit or protect against a loss in a declining market. It is a method used to help manage investment risk. DST 1031 properties are only available to accredited investors (typically have a $1 million net worth excluding primary residence or $200,000 income individually/$300,000 jointly of the last three years) and accredited entities only. If you are unsure if you are an accredited investor and/or an accredited entity, please verify with your CPA and Attorney. Because investor situations and objectives vary this information is not intended to indicate suitability for any individual investor. This material is not to be interpreted as tax or legal advice. Please speak with your own tax and legal advisors for guidance regarding your individual situation. Real Estate Transition Solutions offers securities through Concorde Investment Services, LLC (CIS), member FINRA/SIPC. Advisory services through Concorde Asset Management, LLC (CAM), an SECregistered investment adviser. Real Estate Transition Solutions is independent of CIS and CAM.

Thank Your Tenants Cont.

CONTINUED FROM PAGE 8 Lottery Tickets

One very special landlord I know gives lottery tickets to his tenants. The tickets only cost one or two dollars each and provide them with the opportunity to win more! What a great idea.

Tenants with Pets/Comfort Animals

If you’re a landlord who accepts pets, (or your tenant has a comfort/service animal), you probably know how these pets are considered part of the family. Go to a local thrift shop (Salvation Army, Good Will, etc.) and pick up a basket for a dollar or two. Fill it with dog, cat (or bird) treats, toys or necessities. Your animal-loving tenant will love it!

Kiddie Basket

Tenants with children? Kids love gifts, and when you make your tenant’s children happy, you make your tenants happy. I don’t know about you, but I find many like-new inexpensive treasures at thrift stores. It’s one of my favorite hobbies. You can fill a basket with children’s books, movies, CDs, toys and games for under $20! Wrap it up with clear cellophane; tie on a bow and voila!

Can I Write These Gifts Off? Yes – keep those receipts! Gifts to tenants are an allowable business expense on your federal income taxes, but they are subject to limits. If you give someone a gift for business purposes, your business expense deduction is limited to $25 per person per year. Remember …it’s not the size of the gift that matters. It’s the gesture. Even a card with a $5 Starbucks gift card can demonstrate your appreciation, thanks and help to create a better relationship with your tenants. Merry Christmas and Happy Hanukkah to all!

Patricia A. Harris is Senior Editor of the AOA Magazine and Buyers Guide. Reprinted with permission of the Apartment Owners Association of California, Inc. http://www.aoausa.com

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