(From a recent article in the Wall Street Journal)

The apartment industry often doesn’t improve until the job
market strengthens, and workers gain the confidence to drop
their roommate and get a place of their own or move out of their
parents’ basement.

But recent measures show that vacancy rates are falling and
confidence is rising in rental markets — specifically in
apartment buildings — despite only subtle improvements in the
nation’s employment picture.

“We certainly see the increase in rental demand in 2010, and
it’s been a little more, frankly, than most apartment experts
had anticipated,” said Mark Obrinsky, chief economist and vice
president of research for the National Multi Housing Council.

Demand for apartments has risen significantly this year, said
Greg Willett, vice president of research and analysis for MPF
Research, which analyzes apartment trends. “There’s no way to
look at these apartment numbers and not be impressed,” he said.

Obrinsky said even the slightest improvement in the economy
could be motivating some renters to sign an apartment lease. But
their attitudes probably have more to do with confidence in
their local economy than the national indicators being reported
in the media.

The homeownership rate fell to 66.9% in the second quarter
according to the Census Bureau, the lowest it has been since the
fourth quarter of 1999, and Obrinsky said it’s possible it will
continue to decline, at least for a while, as people doubt the
financial wisdom of buying a home or can’t get financing to buy.

“Going forward, the near‐term outlook for the apartment industry
is likely to be tied to the pace of job growth,” Obrinsky added.
“Over the longer term, positive demographic trends are likely to
keep the demand for apartments growing.”

OAKS PARK-
Foot of SE Spokane St. Area 1
Portland, OR.

Wednesday, August 18, 2010
3:30p.m. Picnic Starts
5:00p.m. Dinner Starts

PRICES:
Adults- $5.00
Childred 12 and under- FREE!!!
Deluxe Ride Bracelets- $8.75

MENU:
Golden Fried Chicken, Hot Dogs, Baked Beans, Relish Tray, Fresh Fruit, Jell-O Salad, Potato Salad, Cole Slaw, Chips, Rolls, Pies, Watermelon, Cookies, Lemonade, Ice Tea, Coffee and more!

BINGO:
If you plan on playing bingo, you need to bring an age appropriate prize (if it’s a child playing bring a child appropriate prize, an adult bring an adult prize, etc.).

DIRECTIONS:
From I 5 North: Travel South on I-5. Take the Lake Oswego Exit-299a. Travel South on S.W. Macadam Ave. two miles to the Sellwood Bridge. Stay in the left lane. Travel Eastbound over the Sellwood Bridge (first left off the Sellwood Bridge). Turn left onto SE 6th. Turn Left on SE Spokane, go down the hill on SE Spokane and over the railroad tracks. Take the first right. Follow the winding road to Oaks Park.
From I-205: Take the Johnson Creek Blvd Exit (Exit 16), travel West on Johnson Cr. Blvd several miles, till you come to a T intersection, Turn left onto 45th Ave. Follow 45th to the third stop sign and turn right. This puts you on Tacoma St. Follow Tacoma to 6th Ave, turn Right onto SE 6th. Turn Left onto SE Spokane St. Go Down the hill on SE Spokane and over the railroad tracks. Take the first right. Follow the winding road to Oaks Park.

RHAGP PICNIC IS IN AREA 1
Pre-Registration Appreciated as we need an accurate count for the food! Call the office at 503-254-4723 or reply to this e-mail.

In November of 2009 I had a tenant move in to a single family home. On the lease agreement I indicated that she would be paying the garbage bill.

In March of this year the garbage company terminated her service because she wasn’t paying the garbage bill. The garbage company sent me an invoice for the pass due amount.

In talking to the garbage company they shared that as a courtesy they send the bill for the garbage service to the tenant and then if they don’t pay they send it to the landlord who is ultimately responsible. The tenant meanwhile called the City of Portland Office of Sustainable Development that is responsible for administering codes and regulations for garbage service.
Sure enough the landlord has to pay the garbage bill. Additionally they have a minimum 20 gallon garbage container that is required unless there is not “sufficient capacity to prevent the overflow of garbage and rubbish from occurring”. So you may start with a 20 gallon container but if it isn’t “sufficient” it could be any size beyond that.

In speaking to other landlords I found that they have the garbage bill sent to them but then they forward it on to the tenant to pay. In checking with the attorney, Jeff Bennett he suggested that there is nothing in the city ordinance that would preclude the landlord from passing on the cost of garbage service to the tenant.

I shared this information with the tenant and offered two options. First they could have the bill sent directly to them or I would pay the bill and then forward to her for payment.

Some of you may have a different process handling this, as in including the garbage service in the rental fee. However with the escalating cost of all of the utilities the user has to be responsible for the amount of service they require. If the tenant is paying the bill they become more conscious of cost containment as opposed to someone else paying their bill.

Jim Kight, Longtime Landlord and
Past President and Board Member of RHAGP

To manage a rental property, have a clear rental or lease agreement signed by all tenants, maintain the property to code, provide a safe environment and keep open lines of communication with tenants. Manage a rental property to be a good landlord with advice from an experienced property manager and landlord in this free video on rental property.

Featuring: Damon Thompson, owner of three rental properties in Detroit, Mich. He has owned up to seven rental properties at once for more than 15 years.

Investing in rental property is a great way to earn extra money. Invest in a rental property using the real estate tips in this free video.

Featuring: Richard Blake, a licensed real estate agent who has closed more than 20 times the number of transactions per year than that of the average realtor for the last three years.