T. Barry Brenneke to MMHA: Tenant Relationships Key

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.

Rent Growth Levels in Portland Ease Off

The latest report from Apartment Market Dynamics reveals that rent growth in Portland has eased off a bit this quarter.

In Case You Missed it - Metro Approved Urban Growth Boundary Expansion

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. 

A map can be found here. 

News from the Metro website about the decision is here.

Housing Starts Above Forecasts - Largely Multifamily

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. 

Multifamily Finance Professionals Exceptionally Optimistic

Apartment Finance Today reports on the results of their annual CFO strategies survey: "Optimism reigns among multifamily finance professionals in the early stages of the next great cycle." Read the full story.

MMHA Breakfast Happening Now. Report: Positive Trends Continue.

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.

14 Steps to Zero Resident Turnover

In his latest post, Brent Williams brainstorms ways to move towards zero resident turnover.  Click here to read more.

Multifamily Lending Up as Investors Seek Safe Haven

The Mortgage Bankers Association reported recently that multifamily lending rose 36% in 2010 compared to 2009 and that the trend was continuing into 2011. The MBA and other organizations that keep track of such statistics further believe that, going forward beyond 2011, banks will continue to keep their sights on the apartment market. Read more online.

Multifamily is a Bright Spot in the Struggling Economy

Although the notion of “Renter Nation” might seem far-fetched, one thing is for sure: The apartment industry is at the starting point of a great run.

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.

A Property Manager's Safety Net From Uninsured Residents

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.

For Fourth Consecutive Year, HFO Named Top Corporate Philanthropist by Portland Business Journal

HFO Investment Real Estate has been named by the Portland Business Journal as a top Corporate Philanthropist for the fourth year in a row.

“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

In addition to the charitable giving, HFO's staff and brokers offer their ongoing leadership and fundraising talents, volunteering hundreds of hours for the Dougy Center for Grieving Children, Big Brothers/Big Sisters Columbia Northwest, and the Portland Area Theatre Alliance.

U.S. Apartment Vacancies Fall to Five Year Low

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.

Will Multifamily Fall Victim to Congressional Tax Reform?

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.

Multifamily Executive Magazine: Beware The Seven Deadly Sins

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."

Holland Developing, Building and Managing 190 New Units at Orenco and 324 Units in Wilsonville

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.