Tuesday, March 30, 2010

Apartment Owners Meet the Census Takers: What You Need To Know

The National Apartment Association has compiled a list of resources for apartment owners and managers to assist with the 2010 census. The U.S. government will be sending enumerators to apartment buildings for residents who do not return their forms by the end of April. Here's what you need to know.

Monday, March 29, 2010

Miller Nash Hosts 17th Annual Affordable Housing Conference, May 6th

Now in its 17th year, Miller Nash's Affordable Housing Conference is a one-day educational seminar featuring regional and national leaders and trendsetters who will share insight on financing, developing, and building low-income housing projects. Besides getting the latest scoop on this dynamic industry, take advantage of networking with presenters and other affordable housing professionals. Miller Nash's Affordable Housing Conference is a must for anyone who is involved with affordable housing projects in the Northwest.  Learn More & Register Online > > >

Thursday, March 25, 2010

PSU Center For Real Estate Issues 1st Quarter 2010 Multifamily Report

PSU has issued its Q1 2010 Report on Multifamily Housing. 
Click here to read the 5-page report on Multifamily.

Click here to download and read the complete 77-page report.

Progressive Developers Restarting Construction On Multifamily

Citing low labor and material costs, recovering fundamentals, and a dire lack of competitive market supply, the progressive multifamily mindset says construction WILL start now. Here’s how they plan to pull new developments out of the dirt for delivery in 2011 to 2013. Read more > > >

Monday, March 22, 2010

Freddie Mac Plans More Emphasis on Multifamily

Last year, more than one out of every three multifamily mortgages was a Freddie Mac origination. When Congress debates the fate of the government-sponsored enterprises (GSEs) next year, the future of the apartment market will very much hang in the balance.

In the interim, Freddie Mac’s commitment to the multifamily industry is on the upswing.

CEO Ed Haldeman says: “There should be no doubt that we are strongly committed to it. It’s a highly profitable business that is growing well, where we have an exceptional record. One would be just crazy to think about less emphasis; in fact, we want to bring more emphasis to that business.” Read More > > >

Thursday, March 11, 2010

IRS Grants Relief for Taxpayers Who Lost Funds in Exchange Company Bankruptcies

by Toija J. Beutler, Esq.

Revenue Procedure 2010-14 issued March 5, 2010 creates a safe harbor for Taxpayers who were unable to complete their exchange due to the bankruptcy of their exchange company.

While this Revenue Procedure is complicated, in simple terms, the gain will not be taxable in the year of sale if the Taxpayer reports the gain in accordance with the newly created safe harbor. When the Taxpayer does receive payments out of the bankruptcy estate or other settlement, the gain will be incrementally taxable as and when received, pursuant to a ratio of the profit over the contract sale price.

The safe harbor sets forth strict criteria for eligible transactions. Taxpayers who have experienced losses due to an exchange company bankruptcy should consult with their tax advisor.

Toija J. Beutler, Esq. is Sr. Vice President/Regional Mgr. at Investment Property Exchanges Services, Inc. She can be reached at (503) 223-3911.

UO Index of Economic Indicators Marks Third Monthly Gain Over 1%

University of Oregon economist Tim Duy reports the UO Index of Economic Indicators rose 1.7% in January, rising more than 1% for the third consecutive month. In the last six months the index has risen 10.7%. Consistent with an economic rebound -- we're still waiting on a translation to significant employment gains.

Read More UO Index: Economy continues to improve - Portland Business Journal

Wednesday, March 3, 2010

Changes to Oregon Landlord Tenant Laws

Reminder: Oregon has made some significant changes to landlord/tenant laws and they are now in effect!  Here are a few highlights

Most non-refundable fees have been eliminated. A landlord may not charge an up-front non-refundable fee at the beginning of a tenancy. Landlords are limited to a list of approved fees:
    • Late Rent
    • Dishonored check
    • Smoke detector tampering or removal
    • Break lease fee NOT TO EXCEED 1.5 MONTHS RENT.  The landlord may NOT charge tenant rent after the lease break or damages related to the cost of re-renting.
    • Noncompliance with written rules or policies of $50 or less, and limited to only the following violations
      • Late payment of utility or service charge
      • Failure to clean up pet waste outside the dwelling unit
      • Failure to clean up garbage, rubbish and other waste from a part of the premises other than the dwelling unit
      • Parking violations
      • Improper use of vehicles within the premises

Tuesday, March 2, 2010

Free Multifamily Energy Efficiency Educational Seminar April 13, 2010 in Portland

This free half-day seminar provides property and asset managers information on how to make wise investments to help save energy, improve tenant comfort and possibly save money. The event includes financing energy projects, available incentives, and detailed information on how to maximize energy savings with lighting, windows and insulation, and efficient heating and cooling.

Who should attend?
  • Property managers and asset managers with five or more units who make budget and energy decisions
  • Energy managers or other personnel who plan for facility retrofits
  • Building owners and leasing agents
  • Mark D. Barry, Appraiser
  • Greg Nelson, Energy Engineer at PGE
  • Rod Street, Residential Building Consultant with Efficiency Services Group LLC
  • Kevin Tippit, Residential Market Outreach Manager for Energy Trust of Oregon
  • Mark Whitney, Lighting Specialist at PGE
Date: Tuesday, April 13, 2010
Time: 7:30am-Noon
Location: 2 World Trade Center, SW Taylor at First Avenue, Downtown Portland

RSVP now.  To Register e-mail pge.seminars@pgn.com or call 503.464.8020 and press "1" for classes.
Free to PGE customers, others welcome based on space availability; small fee may apply