Monday, October 31, 2011
At this month's MMHA breakfast, keynote speaker T. Barry Brenneke explains that although it is easy to get caught up in the excitement over improving market conditions, it’s important to remember that maintaining good renter relationships is the real key to success. T. Barry Brenneke co-founded Guardian Properties with two family members in 1971. Mr. Brenneke developed and operated the apartment management division of the company for ten years before purchasing the company in 1981. Under his direction, Guardian grew to a 14,000 unit portfolio covering several western states. In 2001 he sold the business to his son Tom Brenneke. Tom now operates the company under the name Guardian Real Estate Services and Barry manages his personal portfolio of 600 units under the flag of GMC Properties. Barry was active in the founding of Metro Multifamily Housing Association.
Wednesday, October 26, 2011
In case you missed the news, last week Metro approved an expansion of the Urban Grown Boundary of 1,985 acres in these areas:
- North Hillsboro -- 330 acres south of U.S. 26, for industrial development.
- South Hillsboro -- 1063 acres near S.W. 229th Ave. and Tualatin Valley Highway, for up to 10,776 homes.
- South Cooper Mountain -- 543 acres west of Beaverton, near S.W. Scholls Ferry Road, for residential development.
- Roy Rogers West -- 49 acres west of Tigard, for residential development.
News from the Metro website about the decision is here.
Wednesday, October 19, 2011
Bloomberg News reported today that builders began work on more U.S. homes than forecast in September and consumer prices climbed at the slowest pace in three months, supporting Federal Reserve forecasts for a pickup in growth and a moderation in inflation. Click here to read more.
Read the full story.
At the Metro Multifamily Housing Association breakfast happening now downtown, the fall 2011 Apartment Report survey results point to "continued strength and health of the apartment market in the Portland/Vancouver area." The average overall vacancy rate continues to decline and stands at 3.34%, according to the report. Average effective rents are $0.97 per s.f., representing an 8% annual increase, according to the survey of more than 38,000 units.
Tuesday, October 18, 2011
Thursday, October 13, 2011
Read more online.
Tuesday, October 11, 2011
Attendees and speakers at the 2011 Multifamily Executive Conference, held Oct. 3-5, 2011, at the ARIA Hotel & Casino in CityCenter Las Vegas, were assertive in voicing their agenda on the future of multifamily, pointing to a run of development and transactional activity that will keep business solid until at least 2014, if not 2016. Read all the latest from the Multifamily Executive Conference online.
Monday, October 10, 2011
What can you do if a renter cancels his/her policy or fails to renew it -- leaving you with little resourse to repair resident-inflicted property damage? Here's your safety net: A supplemental insurance program allows the property management company to put insurance in place for a unit as protection from losses due to resident negligence when a renter has not met the insurance requirement in the lease agreement. Read more at Property Management Insider online.
“We’re pleased to have been a leader in our industry niche in terms of charitable giving. Our participation in the program has inspired other local real estate firms to join in this awards program... something that's exciting for us to see happening,” said marketing director Aaron Kirk Douglas.
HFO’s unique corporate giving program provides for a charitable contribution to be made for the closing of each transaction. So far in 2011, HFO’s clients business have helped support these charities:
- Audobon Society of Portland
- Bicycle Transportation Alliance
- Big Brothers Big Sisters Columbia NW
- Blanchet House
- Children’s Cancer Association
- Compassion International
- Doernbecher Foundation
- Dougy Center
- Ecumenical Ministries of Ore.
- Juvenile Diabetes-Oregon Chapter
- Knight Cancer Institute (OHSU)
- Metropolitan Family Service
- Oregon Food Bank
- Oregon Humane Society
- The Portland Area Theatre Alliance
- Portland Jewish Academy
- Raphael House
- Red Cross of Oregon
- Southwest Parent Child Collective
- Sparrows Clubs USA
- St. Francis Dining Hall
- Stand for Children
- The Salvation Army
Thursday, October 6, 2011
U.S. apartment vacancies fell to a five-year low in the third quarter, enabling landlords to increase rents even as tepid job growth slowed leasing in what is usually a strong season for demand, Reis Inc. (REIS) said.
Mounting foreclosures, tighter credit for homebuyers and young people moving out on their own have increased demand for apartments after the vacancy rate reached a three-decade high of 8 percent at the end of 2009. Leasing may be starting to cool as the U.S. unemployment rate sticks above 9 percent and concern grows that the economy is weakening, Reis said.
Renewed weakness in the labor market slowed a wave of young people moving out of their parents’ homes or leaving roommates to rent their own place, a phenomenon known as unbundling, said Donald Davidoff, head of marketing for Archstone, the apartment owner based in Englewood, Colorado. The U.S. economy added zero jobs in August, the weakest reading since September 2010, and the unemployment rate remained at 9.1 percent, according to the Labor Department. Read the Full Story at Bloomberg News.
Wednesday, October 5, 2011
As Congress looks at overhauling the nation’s tax code, the multifamily industry may become a collateral victim. The bipartisan “super committee,” formally called the Joint Select Committee on Deficit Reduction, is charged with finding $1.2 trillion in deficit cuts by Thanksgiving. And several tax programs and provisions that multifamily owners and developers have enjoyed for years may be on the chopping block. Read more in the Multifamily Executive online.
Monday, October 3, 2011
Amid all the good news and trends in apartment investing these days, Multifamily Executive Magazine reminds investors that as the next boom approaches, we should be careful to remember and not repeat our past mistakes. Read their take here in "The 7 Sins."
Two new Portland-area apartment communities that broke ground last week are strategically sited to leverage burgeoning employment centers and heavily-used transportation hubs. Holland Partner Group of Vancouver, Wash., celebrated groundbreakings the same day at the 324-unit Brenchley Estates in Wilsonville, Ore., and 190-unit Living Green at Orenco Station in Hillsboro, Ore. In each case, Holland is developing, building and managing the property. Read more in the MultiHousing News online.