the landlord times - on-site - january 2013

The cost to insure apartments increased by 9.5 percent between 2011 and 2012, marking the second consecutive year of rising insurance expenditures according to the National Multi Housing Council’s (NMHC) Apartment Cost of Risk Survey (ACORS). The survey covers data from more than one million apartment units, the largest number of units covered by the survey to date, operated by 55 apartment firms, tracking three principal components of insurance premiums: property,

general liability and workers’ com-pensation. The 9.5 percent increase in 2012 came entirely from property risk costs, with general liability and workers’ compensation costs staying virtually unchanged from 2011.

“Respondents noted that their greatest challenges in 2012 came from obtaining adequate and affordable coverage in traditional catastrophe risk zones. In fact, catastrophe exposed properties were the major drivers of the increase in premium costs and higher deductibles,” said

Rick Haughey, NMHC’s Vice President of Property Operations and Technology. “With U.S. catastrophe losses in 2012 expected to be moder-ately higher than average due to Hurricane Sandy, the outlook for insurance costs in 2013 remains uncertain. This uncertainty mitigates what would be downward pressure on 2013 catastrophe rates due to strong underwriting capacity for pri-mary insurers and reinsurers.”

Apartment Insurance Costs Increase for the Second Consecutive Year

According to National Multi Housing Council Report

Over 1,500 people attended the 28th Annual TRENDS Education conference and Trade show.

TRENDS is “THE” largest and oldest Northwest rental housing management and ownership educa-tion conference and trade show.

See the TRENDS website at www.trendsnw.com.

The 28th Annual TRENDS was held December 11th at the Washington Convention Center, Seattle. TRENDSis the longest running a continuous-ly produced event at the Washington State Convention Center.

TRENDS is the premier annual education conference and trade show for Northwest rental housing ownership, management and main-tenance. TRENDS is a national award-winning event.

TRENDS 2012 included the larg-est regional industry trade show featuring over 215 exhibitors and offered 43 education workshops. View the 28th Annual TRENDSworkshop schedule at www.trend-snw.com

Continued on page 3

Professional Publishing, IncPO Box 30327Portland, OR 97294-3327

Please note any problems below and notify us at:

PO Box 30327Portland, OR 97294-3327

❑ My name was misspelled❑ Remove my name from the

On-Site mail list❑ Change of address:

PRSRT STDUS Postage

PAIDSeattle, WAPermit #741

Current Resident or

SEATTLE • TACOMA • OLYMPIA • EVERETT

ON-SITE Published 22 Years

January 2013www.TheLandlordTimes.com Vol. 22 Issue 1

17,000 PAPERS MAILED MONTHLY TO PUGET SOUND APARTMENT OWNERS, PROPERTY MANAGERS & MAINTENANCE PERSONNEL

Published in association with: Washington Apartment Association, IREM & Washington Multifamily Housing Association

Professional Publishing, Inc

Continued on page 11

TRENDS 2012

A Huge Success!

8

Institute ofReal EstateManagement

Page 14

INCREASING COMMUNITY REVIEWS ONLINE SHOULD

ON THE TOP OF YOUR...

HOW TO GET STARTED IN REAL ESTATE

INVESTING

HOW TO CONVERT A PROPERTY TO

SMOKE-FREE HOUSING

Washington Apartment Association

Chapter 27

Page 6

Seattle - Apartment Insights sur-vey shows rents flattening after three quarters of impressive gains, and SR 520 tolls negatively impacting some Eastside submarkets, reports Tom Cain of Apartment Insights. The data are from his Seattle firm’s 4th quar-ter statistics and trends on 50+ unit properties in the King/Snohomish market.

VACANCY: 4.75% The vacancy rate for conventional,

stabilized 50u+ properties in the King/Snohomish market is 4.75%, down from 4.85% last quarter, and 5.25% a year ago.

Snohomish County was responsi-ble for the improvement this quarter. Its vacancy rate fell from 5.28% to 4.70%. King at 4.76% vacancy remains about the same as last quarter.

Overall Rents Flatten; SR 520 Tolls Impacting

Eastside Submarkets

Continued on page 7

2 On-Site Northwest • January 2013

We Paint Hallways, We Paint Hallways, We Paint Hallways, Cabanas, and OfficesCabanas, and OfficesCabanas, and Offices

On-Site Northwest • January 2013 3

TRENDS ...continued from front page

ON-SITE

Rental housing property owners; property managers; leasing agents; maintenance personnel and portfolio managers attend TRENDS. The 29th Annual TRENDS show will be held

December 10, 2013.TRENDS is brought to you by:

• Washington Apartment Association (WAA)

• The Institute of Real Estate

Management (IREM)• Rental Housing Association of

Puget Sound (RHA)

TRENDS is produced by Diamond Productions 206-779-5890

Please Visit us at

www.TheLandlordTimes.com

Dear Maintenance Men:I have a conundrum! My roof is

in good shape, however I have a mystery leak or to be more precise I have a moving mystery leak. In other words, when it rains, the roof does not always leak in the same place. This is driving me crazy.Sam

Dear Sam:A good roofing troubleshooter is

worth their weight in gold. Here at Dear Maintenance Men, we love a good mys-tery! First things first; have your build-ing inspected by a reputable roofing company or roofing inspector. The

inspection will eliminate non-issues and help point you in the right direction and may even solve the leak mystery.

The amount and intensity of rain will contribute too many roof leak mys-teries. Often a light rain will cause a leak in an area that would not leak in a heavy or prolonged rainstorm. The rea-son is material swell. A light rain is not “wet” enough to swell surrounding wood or roofing material and cut off the leak. Mind you, this is still a leak that needs fixing. The deep penetration of water in a heavy or wind driven rain-storm will cause a leak by sheer volume that would not have leaked in a light rainstorm. Roof flashings are a common

source of leaks that drip far from the source of the water intrusion. A roof flashing can be found were the roof material meets a transition area such as a chimney, a wall, a pipe or other struc-ture. Shifted or lifted composite shingles or roof tiles will cause water to come into contact with the felt paper under the roofing material and a break in the felt or roofing paper will cause a leak. Debris on the roof, valley, top caps, gut-ters etc can form water dams and cause leaks. Watch overhanging trees as well as they can damage the roof and cause leaks.

Dear Maintenance Men:I have a Carbon Monoxide Detec-

tor question. The building I manage is an “all-electric” building with attached garages. Do I need to install a CO detector in each unit?Dan

Dear Dan:I don’t think your situation is all that

uncommon. We have run into this install problem before. We consulted with the Orange County Fire Authority and Randy Lindenberg from National Gas Consulting in Orange County. Because every building is unique in its construction and design, a proper

assessment will need to be made based on the location of any gas-operated appliance in an all-electric building. The general rule is; if an all-electric building has a gas-operated appliance and shares a common wall with the residential units, Carbon Monoxide or CO detec-tors will be required. For example: You will need to install CO detectors in your all-electric building if you have attached enclosed garages. CO detectors will also be required if the building has an attached laundry room with a gas water heater or gas dryer. We also recommend installing a CO detector in the laundry rooms that contain a gas appliance. Keep in mind; automobiles, wood fireplaces, barbecues and any other combustible material can cause carbon monoxide. Owning an “all-electric” building does not necessarily eliminate the need for CO detectors.

Dear Maintenance Men:I hear a soft pisssst sound in the

walls. My husband says it might be a gas leak, I think it is a water leak. Now to complicate things, we don’t smell gas and we don’t see any water. Could this sound be anything else?Julia

By Jerry L'Ecuyer & Frank Alvarez

Dear Maintenance Men:


ON-SITE

Continued on page 5

SERVICE ● QUALITY ● AFFORDABILITY Serving Snohomish, King, Pierce & Skagit Counties

LIC. #AXISRRG887LK ● Bonded ● Insured

Gutter/Downspout Cleaning

Roof Cleaning & Blowoffs

Pressure Washing

Roof Repairs & Treatment

Siding Cleaning

Window Cleaning

Parking Garage Cleaning

ReRoofing

Underground Drain Cleaning

Paint Prep Washing

Walkway & Concrete Cleaning

Chimney Flashing Repair

Carport/Flat Roof Cleaning

Gutter/Downspout Repairs

ROOF 7

[email protected]

www.axisroofandgutter.com

EQ - Apartments, Small Business18927 - 33rd Ave., West, Suite C, Lynnwood, WA 98036

1-800-803-7000Fax 425-712-1058Cell: [email protected]

TONY CONTI, CIC

Dear Julia:You have our condolences, but it

could be worse, at least it is not a slab leak! The chances of the sound being a gas leak are slim as the gas is under low pressure. The chance of smelling rotten eggs on the other hand would be high. Our guess would be your issue is a water leak. The possible reason you are not seeing any water evidence is that the leak is very small and the water is atom-

izing as it is leaving the pipe. The atom-izing action is aided by the fact that the pipe is most likely a hot water pipe and the water is turning to steam. Because the pipe is making noise, this should help in locating the leak. Once you locate the source of the leak, open the wall large enough to complete the repairs and leave the wall open for a few days or until all the moisture is gone.

QUESTIONS? QUESTIONS? QUESTIONS? We need more Mainte-nance Questions!!!

To see your maintenance question in the “Dear Maintenance Men:” column, please send submission to: [email protected]

Please call: Buffalo Maintenance, Inc for maintenance work or consultation.

JLE Property Management, Inc for

management service or consultationFrankie Alvarez at 714 956-8371Jerry L’Ecuyer at 714 778-0480CA contractor lic: #797645, EPA Real Estate lic. #: 01216720Certified Renovation Company Websites: www.BuffaloMaintenance.com & www.ContactJLE.com


Dear Maintenance Men: ...continued from page 4

ON-SITE

APARTMENT OWNER & MANAGER NEWSPAPER

ON-SITE Serving the Portland/VancouverMultifamily Housing Industry More

than 21,000 Distributed Monthly www.TheLandlordTimes.com The statements and representations made in advertis-ing and news articles contained in this publication are those of the advertiser and authors and as such do not neces-sarily reflect the views or opinions of Professional Publishing, Inc. The inclu-sion of advertising in this publications

does not, in any way, comport an endorsement of or support for the

products or services offered.Metro Apartment Manager is pro-duced monthly and is published by

Professional Publishing Inc.An Oregon Corporation.

PO Box 30327

Portland, OR 97294-3327.

(503) 221-1260 • (800) 398-6751

Copyright 2013. All rights reserved.

PublisherWill Johnson • [email protected]

EditorAndrea Coulter • [email protected]

Circulation ManagerAndrea Coulter • [email protected]

DesignerAndrea Coulter • [email protected]

Advertising SalesWill Johnson • [email protected]

Terry Hokenson • [email protected]

STAFF

Advertise in the Landlord Times -

OnsiteCirculated to over 17,000 Apartment owners, On-site, and Maintenance

personnel monthly.Call

503-221-1260 for more

information.

BEST in service, BEST in speed,

BEST in knowledge

What more do you need?

BEST in prices, BEST in deals,So give us a call, put our number

on speed (dial that is)

206/800-241-1550

LTS Evictions

LTS is the BEST IN THE WEST...

when it comes to evictions


President • Barry Blanton VP Finance • Mark Grey Past President • Faye Crow VP Membership • Glen Bachman VP Communications • Christy Mays

INSTITUTE OF REAL ESTATE MANAGEMENT

How To Get Started In Real Estate Investing

There are many methods for acquiring wealth available across the globe today. One of the most easily accessible ways even for the new investor is real estate investing. Many people have made millions of dollars by investing in the real estate market in one form or another.

Real estate is a profitable vehicle for the investor who is dedicated to learning about all of the different types of investments, option, risks

and potential rewards that come with real estate investing. There are many different ways to invest in real estate. Here are some of the more common ones people use to get started.

Find investment deals in real estate in: New York City Los Angeles Chicago Houston Boston Seattle1) Rental property.

This is one of those rare real estate investments where you can make money even if you pay top dollar for

the property. The reason is you are going to hold onto this property for the long term. You're only require-ment is the property generate a posi-tive cash flow. This means after you sum up all of your expenses on the property like financing cost, taxes, insurance and a vacancy rate, the amount you are collecting in rent surpasses this figure. This is one of the classic "get rich slow" methods of real estate investing. You are making a small amount of money each month from the property in rental income, and you are also slowly building up equity in the property over time as you pay down the mortgage.

2) Pre-construction invest-ment.

This is also known as buying prop-erty on "spec" or on the speculation that when the property is finished it will sell for a much higher price than you have invested in it. This is seen mostly in new condominium proj-ects where investors fight to buy the units before they are built assuming the price will come up once construc-tion is complete. I have known investors who have purchased sev-eral condo units in a facility being built and put $5,000 down on each unit as a down payment. Then

before the property was even con-structed "flipped" their contract to an end buyer who was willing to pay them 4 to 5 times their down pay-ment just to get in on the deal. The problem with this type of investing is it normally only works when a market is going up regularly. In a down market like we are experienc-ing these types of deals are much harder to find but they are still out there. There are still part of the country that are very desirable to live in and are experiencing market growth.

3) Flipping houses. This is a type of property invest-

ment that has made leaps and bounds in the last few years thanks to the popularity of many popular home improvement and house flipping shows on cable networks in the last few years. This has become a very dangerous thing as people who have no idea what it actually takes or costs to renovate and flip a property are buying homes because they think "I saw it on television and I can do that" Television doesn't show you the whole picture. You have to be aware of all of the hidden costs like marketing the property, closing costs, [email protected] • www.PSAworkforce.com

Compliance Depot approved

206.306.3609

2013 RESOLUTIONS1. Get organized

2. File the old lease paperwork 3. Clean out the supply room

Call Lynn for a Temp to help!

Bridging Workforce Gaps | Your Trusted Staffing Resource


New Year - New BudgetsCall Now For Spring &Summer Scheduling!!

The impact of all the new units hitting the market this quarter is reflected in the overall vacancy rate, which includes properties in lease-up and out-of-service. This rate edged up 40 basis points to 5.87% vacancy.

The lowest vacancy rates are in the city of Seattle. The Seattle North submarket that lies between 85th and 145th is 3.02% vacant. Following are First Hill, Capitol Hill and the Seattle North Central submarket that extends from the ship canal north to 85th. These are all under 3.5%.

The highest vacancy rates are in the Bothell, Federal Way and Eastside North submarkets. Vacancy rates in these areas are in the 6.5% range.

RENTAL INCENTIVES:$22 (1.93%)

Over the past year rental incen-tives declined from $36 to $18 per month ending in the third quarter. This quarter they bumped up to $22 (1.93%). Incentives are 2.04% in King and 1.81% in Snohomish.

In both counties 31.6% of proper-ties are offering incentives, virtually the same as last quarter.

ABSORPTION: +1,228 There were 1,228 units absorbed

this quarter, up from 1,015 in the third quarter.

RENTS: $ 1,140 per Unit $1.35 per Square Foot

Rents dropped $2 to $1,140 per unit. In the year ending in the third quarter, rents had increased 6%. So, we are not surprised that rents have leveled off after such a strong run up.

In downtown Bellevue, rents had increased a staggering $236 per month in the half year period ending last quarter. This quarter the average rent remains virtually unchanged at $1,757 per unit. This is $131 higher than the next priciest market, down-town Seattle. Rents in downtown Seattle remain basically unchanged over the past half year. It stands to reason that prospective tenants would consider more affordable sub-markets with rents this high in these two downtown markets.

South King County continues to offer the least expensive units. In Des Moines, Burien and SeaTac apart-ments are renting from $846 to $865.

NEW CONSTRUCTIONThere are currently 11,687 units

under construction, up from 10,450 units last quarter and

6,457 units a year ago. Of the units currently under construction, 78% are in the city of Seattle. The total for 2012 is 3,599 units. The 284-unit Union on the east slope of Queen

Anne opened this quarter (see photo). Holland Partner Group is the devel-oper and Holland Residential is the manager.

There are 7,973 units currently under construction that are sched-uled for completion in 2013. In the past 30 years, only in 1989 and 1990 were there more units completed, and then it wasn't by much.

For 2014 our current projection is for 3,509 units to open. These proj-ects are either under construction or scheduled to break ground early next year. In addition there are 6,720 units

that are in design review and later stages. Lastly, rezoning has been granted to developers on sites total-ing 13,588 units, and another 394 units are waiting to be rezoned.

The grand total for all the units under construction and planned for 2013 and beyond is 31,790 units.

OBSERVATIONSThe rental market flattened out

after three consecutive quarters of impressive rent gains. On the plus side, the vacancy rate fell to 4.75%,


Overall ...continued from front page

ON-SITE


Incentives apply to existing multifamily properties with five or more attached units located in PSE service area and dependent on installed equipment efficiency and energy type. PSE’s programs are tariffed services, and are subject to change or termination without prior notice. Always refer to our website for the latest offerings.

Check out Puget Sound Energy’s Direct Install Program that takes the worry out of managing the cost and installation – it’s FREE! For qualified customers, the program can retrofit your building’s units with energy and water saving showerheads, water heater pipe wrap, energy efficient lighting and other energy upgrades.

To learn how you can get started:

1. Call a Program Representative at 1-866-997-9767 or e-mail at [email protected] to schedule an appointment.

2. A free energy audit will be scheduled to qualify and establish pre-existing conditions. PSE will make recommendations on energy efficiency upgrades and see if your building qualifies for the Direct Install program.

3. The audit will also identify other ‘no cost’ and ‘low cost’ retrofit incentives your properties may qualify to receive through PSE’s Multifamily Retrofit Program.

Schedule your appointment now to receive a PSE Direct Install Sample Kit

PSE is offering Direct Install Sample Kits that include ENERGY STAR® qualified CFL and LED light bulbs, a WaterSense® showerhead, and a section of pipewrap that will aid in your review process.

PINPOINTING SAVINGS IS RE-ENERGIZING

PSE.COM/MULTIFAMILYRETROFIT

Now is the time to map out your retrofit plans for the New Year and start saving time, energy and money!

2012 drew to a close and the industry's recovery

progresses, commercial real estate offered varied investment opportu-nities across each major sector and a diverse number of cities, even though macroeconomic uncertainties still exist, such as the fiscal cliff, accord-ing to the fourth quarter 2012 find-ings of the PwC Real Estate Investor Survey.

According to the report, investors in the office sector are showing a greater acceptance for slower growth and less apprehension about moving further out on the risk spectrum. Although core trophy assets remain the preferred target of both domestic and international investors, aggres-sive pricing and improved funda-mentals have resulted in certain investors looking to buy either core in strong secondary markets or less-than-core in primary markets.

"The commercial real estate indus-try continues to show its investment durability as assets command attrac-tive spreads over fixed-income

investments and offer more stability than stocks, while most property sec-tors continue to post occupancy gains and rental rate growth," said Mitch Roschelle , partner, U.S. real estate advisory practice leader, PwC. "Foreign investors are particularly bullish on U.S. commercial real estate as they look for stable investments during uncertain times abroad. In 2013, Survey respondents expect to see an uptick in sales activity as property owners cull portfolios to take advantage of the low cap rate environment. And as investment capital continues its trend of matric-ulating beyond just apartments, cap rates are expected to compress across the entire asset class."

Investors Becoming More Comfortable with Buying in the Retail Sector

The above chart illustrates that the decline in overall capitalization (cap) rates has extended to the retail sec-tor. According to the fourth quarter Survey findings, investors remain

optimistic about investing in the national regional mall market despite a slow-moving economic recovery and a challenging retail landscape. Buying opportunities remain few and far between, especially for Class-A+ and Class-A malls, with huge barriers to entry making high-quality malls thrive, which also keeps owners from selling them.

According to surveyed partici-pants, yields have compressed too much for well-leased strip shopping centers that some are considering buying value-add in great locations due to a lack of new supply. For power centers, challenges mainly stem from rising Internet retail sales, merchant consolidations, and an inability to easily shrink into urban streetscapes.

In the fourth quarter of 2012, the average overall cap rate, the initial return anticipated on an acquisition and a reflection of an investment's anticipated ownership risk, decreased in 24 of the surveyed markets, held steady in seven, and increased in just

one of them. The overall cap rate shifts remain irregular with tech office markets (i.e. San Francisco) and the warehouse sector both show-ing some of the steepest declines. The national warehouse market's cap rate compression, where the average overall cap rate declined 40 basis points, reflects the optimistic outlook held by most surveyed investors.

The average overall cap rate declined again in the Survey's nation-al Central Business District (CBD) office market, marking nearly ten instances of quarterly declines since the first quarter of 2010. Moreover, the current average of 6.70% is the lowest reported for this market since the second quarter of 2008. Due to this cap rate compression, some Survey participants are taking time to identify CBD assets to sell – while others remain in search of select buy-ing opportunities.

In the apartment sector, surveyed participants believe market condi-tions continue to favor sellers, but


Continued on page 9

ON-SITE

Investors Anticipate Opportunities in Commercial Real Estate across All Major Property Sectors in 2013, According to Latest PwC Real Estate Investor Survey™

As

Do you haveBED BUGS?

• HeatTreatmentskillbugsinasingle,1-daytreatmentthat’sodorless,green,organic,non-toxicandcanineconfirmedforeffectiveness.

• DogInspections–thefastest,mostreliablewaytolocateinfestations

• PreventiveTreatments–keepbedbugsfromspreadingtoadjacentrooms

• MattressandBoxSpringEncasements

• StaffTrainingPrograms

Proactive Inspections – Smart Treatments – Staff Training

Local and Nationwide Service

Seattle Tacoma 206.323.5660•800.421.0083 253.572.6500•800.782.0684

www.spraguepest.com

PEST PREVENTION • BRAND PROTECTION • ENVIRONMENTAL STEWARDSHIP

Know for sure.

Bed Bug Dogs areFAST and ACCURATE!

Just 2-3 minutes per roominspections for complete

PEACE of MIND

The nation’s #1 multifamily lender is lending in your backyard.

Credit is subject to approval. Rates and programs are subject to change; certain restrictions apply. Products and services provided by JPMorgan Chase Bank, N.A. #1 claim based on 2011 FDIC data. ©2012 JPMorgan Chase & Co. Member FDIC. All rights reserved.

Bringing you low fees, great rates and local market expertise.

How did Chase become the nation’s leader in multifamily lending? With great rates, low fees and a deepunderstanding of the local market—in communities justlike yours. If you have an apartment building to purchaseor refinance, call us today to learn how we can put ourresources to work for you.

LoW F e es | G reaT raTes | sTr eamLI ned P roCess

Call Todd Sechrist, Client Manager, (206) 500-4634 [email protected]

Greater Investor Optimism in Retail, Especially for National Regional Malls; Technology Office Markets and Warehouse Sector Showed Steepest Cap Rate Declines in Q4

some investors sense that rents may have peaked for now and that cer-tain markets have become over-priced. In addition, investors remain attentive to the near-term impact of new construction. Consequently, this market's average initial-year market rent change rate dipped for the sec-ond consecutive quarter, suggesting less upside in this market.

Investor Outlook Through 2015

The PwC Real Estate Barometer included in the Survey tracks the anticipated performances of the four main property sectors (office, retail, industrial, and multifamily) from 2012 to 2015. For the office sector, even though the sector's recovery as a whole lags behind other commer-cial property sectors due to lower job creation among office-space using companies, as well as an evolving work environment, many metros are benefiting from a lack of new supply. As a result, the barometer places 35.2 percent of the U.S. office stock in expansion by year-end 2012. This percentage is expected to grow through 2015.

Pockets of strength exist in the retail sector and are starting to out-number the weaknesses in certain trade areas. The barometer places 45.6 percent of the U.S. retail stock in recovery by year-end 2012. As the industrial sector continues to recov-er, occupancy gains are being report-ed in most industrial markets across the country. As a result, the portion of U.S. industrial stock in recovery is expected to grow annually through year-end 2014. By year-end 2015, the expansion and recovery phases of the real estate cycle will dominate this sector.

Underlying fundamentals for the U.S. multifamily sector remain extremely positive through 2015 due to pent-up demand and a growing preference for renting instead of buy-ing. The expansion phase of the cycle will dominate this sector for the next four years.

"While the recent slowdown in the country's economic recovery and job gains has reduced leasing activity across much of the nation's office sector, it has not had the same impact on the warehouse sector, with many surveyed investors calling the sector extremely healthy," stated Susan Smith , editor-in-chief of PwC's quar-terly real estate investor survey. "While the U.S. multifamily sector remains a top investment choice, concerns about new supply and overpricing do exist, which has some investors looking to other sectors, like retail, which had been a bit taboo for many investors for quite a while, but is starting to regain attention even with the rising popularity of e-commerce."

Information about subscribing to the PwC Real Estate Investor Survey can be found at www.pwc.com/us/realestatesurvey.

About the PwC Real Estate Investor Survey™

The PwC Real Estate Investor Survey, now in its 25th year of publi-

cation, is one of the industry's lon-gest continuously produced quarter-ly surveys. The report provides over-views of 33 separate markets, includ-ing ten national markets -- regional mall, power center, strip shopping center, CBD office, suburban office, flex/R&D, warehouse, apartment, net lease, and medical office build-ings. The report also includes a review of 18 major U.S. office mar-kets including Atlanta, Boston, Charlotte, Chicago, Dallas, Denver, Houston, Los Angeles, Manhattan, Northern Virginia, Pacific Northwest, Philadelphia, Phoenix, San Diego, San Francisco, Southeast Florida, Suburban Maryland, and Washington, DC. In addition, the report covers three regional apartment markets - - Mid-Atlantic, Pacific, and Southeast, and two regional warehouse markets - - East North Central and Pacific. In addition, the National Development Land Market is included in the sec-

ond and fourth quarter issues while a comprehensive lodging report is included in the first and third quar-ters.

The fourth quarter 2012 report also features up-to-date information relating to forecast periods, structur-al vacancy replacement reserves, forecast values, tenant improvement allowances, and vacancy assump-tions. In addition, each issue of the survey contains over ten tables of market data focusing on value expec-tations, tenant improvement allow-ances, forecast periods, structural vacancy, and growth rates.

About the PwC NetworkPwC firms help organizations and

individuals create the value they're look-ing for. We're a network of firms in 158 countries with more than 180,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out

more by visiting us at www.pwc.com.Learn more about PwC by following

us online: @PwC_LLP, YouTube, LinkedIn, Facebook and Google +.

© 2012 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved. PwC refers to the US member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.

This content is for general informa-tion purposes only, and should not be used as a substitute for consultation with professional advisors.

www.prnewswire.com


Investors ...continued from page 8

ON-SITE

Decrease maintenance and operation costs, and improvethe look of your building with rebates from Tacoma Power.

Get money to upgrade your rental property

GET MONEY FOR:• Single-pane window and sliding

glass door replacement

• Attic, fl oor and wall insulation upgrades

• Tenant-controlled lighting upgrades

• Common area lighting upgrades

• Clothes washer purchase(Energy Star-qualifi ed)

• Refrigerator and freezer recycling

Energy savings and project costs will vary.

(253) 502-8363 KnowYourPower.com

“The incentives that Tacoma Power offers make it appealing for property owners to participate. They make it feasible for us to make the improvements.”

Brian Reeder | Reeder Management, Inc.

UPGRADES TOCANYON RIDGE APARTMENTS

• 144 energy-effi cient, double-pane windows for 36 units

• 17,500 square feet of attic insulation

• 3,300 square feet of fl oor insulation

RESULTS • Estimated savings per unit: $143/year

• Rebate from Tacoma Power: $22,440

ow that the holidays are behind us, anyone who was

not able to move before they rang in the New Year will be resuming their search for a new home. Follow up is the key to closing the sale when no decision is made on the first visit. However, many leasing people still hesitate to keep in contact with their prospective renters or make call backs on the appointments that are no

shows. This question may shed some light as to why this occurs:

Q: I know I should probably follow up more on my guest cards and also call people who make appointments and don’t show up, but calling people back makes me feel like I’m “bugging them.” If they’re really interested, won’t they just come back or call me?

It does seem “logical” that a person interested in your community will just naturally get back in touch with you. However, there are a multitude of options out there right now. Besides, renting an apartment is a lot of hard work, and it’s also a MAJOR buying decision. People who are looking for a new home NEED YOUR HELP! They will continue to need assistance until they reach a decision about where they want to live.

If you think back to the last time you made a major purchase, it’s likely that the salesperson helped you with your buying decision. It was probably their knowledge of the product, com-bined with pointing out how it would meet your needs, which were some of the determining factors in your deci-sion. This would require the salesper-son to have excellent product knowl-edge, establish ALL your needs (i.e. size, style, color preference(s), budget constraints, etc.) and then close the sale. However, if you weren’t quite ready to decide and then looked at and considered other options, you may have forgotten about some of the benefits of the product you looked at initially. This is where the follow up

work comes in. The salespeople who keep in touch with their prospects can continue to sell the benefits of their product long after the prospect has left the sales floor. This will deepen the relationship that was established so there is a sense of commitment on both sides.

Now imagine your most recent prospective renters and the circum-stances causing them to relocate. Put yourself in their place and think about all the decisions they have to make as a result of their move. If you have an apartment at your community that will work for them and you are sin-cerely interested in meeting their needs, why wouldn’t you follow up with them? Of course if all you care about is just renting an apartment and not the person who will be living in it, then you’re right: You would “just be bugging them.” People can recognize a phony a mile away. On the other hand, people are also pretty good at detecting when someone sin-cerely cares about them and has their best interests at heart. The follow up work you do will come off as a true expression of your desire to meet the

N




Please Visit us atwww.TheLandlordTimes.com

Shoptalk ...continued from page 10

“The Service People”

Call 1-877-378-1949 for a location near you!

Locations in: Bellevue, Everett, Issaquah, Lynnwood, Marysville North Seattle, Puyallup, South Seattle and Sumner.

Bathroom sinks

Kitchen sinksDisposers Kitchen faucets

Water heaters

Featuring wholesale plumbing supplies for multi-unit housing

Come see us at one of our nine convenient branches!

needs of your prospective renters, if you genuinely care about them.

If you have a question or concern that you would like to see addressed next month, please ASK THE SECRET SHOPPER by making contact via e-mail. Your questions, comments and suggestions are ALWAYS wel-come!

ASK THE SECRET SHOPPER Provided by: SHOPTALK SERVICE

EVALUATIONSPhone: 425-424-8870

E-mail: [email protected] site: www.shoptalkservice.com

Copyright © Shoptalk Service Evaluations

35

Beforewww.MiracleMethod.com

Each Miracle Method office is individually owned and operated

Repair or Refinish•Bathtubs

•Countertops•Showers

•Tile•Fiberglass

AfterBefore

888-819-03995 Year

Warranty

ON-SITE

Additional key findings:The mean (nonweighted) average

for the total cost of risk increased 9.5 percent in 2012, driven by an increase in property cost of risk, which accounts for 70 percent of the average apartment firm’s total cost of risk.

The mean average property cost of risk increased by 10.4 percent and average per occurrence deductibles increased to $118,000 from the unusu-ally low average deductible of $66,000 in 2011.

The mean average general liability cost of risk remained virtually unchanged in 2012 after a 9 percent increase last year.

The mean average workers’ com-pensation cost of risk in 2012 also remained similar to 2011 at $1,038 per full-time employee.

Property terrorism insurance take-up rates increased to 91 percent in 2012, compared to 85 percent in 2011. A slight decrease in property terror-ism insurance rates was also report-ed.

About the SurveyThe ACORS contains information

about property, general liability, umbrel-la, workers compensation, D & O, pro-fessional liability, employment practices, environmental, and newly added insur-

ance lines including terrorism and cyber liability. Fifty-five firms representing over one million apartment units sup-plied data on rates, deductibles, reten-tions, key coverage terms, claims history and more for the key lines of coverage.

Firms that completed the survey can receive exclusive access to the full data set, along with the report analysis by Conning Research and Consulting on behalf of NMHC. Non-participating NMHC members can download an exec-utive summary and a PowerPoint sum-marizing the results at www.nmhc.org/goto/61017.

Based in Washington, DC, NMHC is a national association representing the interests of the larger and most promi-nent apartment firms in the U.S. NMHC’s members are the principal offi-cers of firms engaged in all aspects of the apartment industry, including owners, developers, managers and financiers. One third of Americans rent their hous-ing, and more than 14 percent live in a rental apartment.

For more information, contact NMHC at 202-974-2300, e-mail the Council at [email protected], or visit NMHC’s web site at www.nmhc.org.

Apartment ...continued from front page

Regroup…is this a new manage-ment trend? Not a chance! Regroup is simply an opportunity to end one month’s business cycle, recap the performance at each property you manage and outline a plan of suc-cess for the new upcoming month. Why does it work? Because it allows each person on your team to assess their performance from the previ-ous month, and to make any neces-sary adjustments for the new month. Here’s how it works.

Scheduling and preparing regroup:

Regroup should be scheduled during the slowest time of each month and should start before your leasing office opens in the morning, if possible. A solid and productive regroup takes about two hours and will require about one hour of prepa-ration by your resident manager. Be certain to have a blank chalkboard or a standing easel for taking notes and keep distractions to a minimum. Regroup is also a time to build on the creative juices from each person on your team, so make regroup a spe-

cial part of each month and allow for everyone to have equal time to share their feedback. Simply stated, there are no wrong questions or topics dis-cussed at regroup and your team will respect and respond positively to this freedom.

Tip From The Coach: As the su-pervisor for your properties, it is critical for you to attend regroup and actively participate in them. Your preparation for each regroup should begin by reviewing the agenda from the previous month with your resi-dent manager, to assess if the to-do list from last regroup was accom-plished. Then, review together the new regroup agenda making certain your resident manager’s gameplan is consistent with your company goals and expectations.

Running the meeting: Each month’s agenda for regroup

should begin by reviewing the fi-nancial information important to your company and its investors. This might include “actual” revenue and income versus budget, resident retention percentages, collection is-

sues or expense performance versus the budget. Then, have your resident manager address any problems ex-perienced during the past 30 days or any upcoming issues that will affect the property. Next, map a calendar of activities that will enhance the performance for this property. This might include a monthly event to thrill your residents, a new market-ing plan, or a special focus on your resident referral program. This part of regroup is where the creativity of your team really starts to roll and if you listen closely, you will hear many “golden” ideas. Lastly, have your resident manager recap the team goals for the new month and be certain the meeting always closes on a positive note!

Tip From The Coach: As the su-pervisor for this property, take de-tailed notes during regroup, then send a brief memo to your resident manager recapping the day. Include in this memo a to-do list for the up-coming month, so your resident manager will clearly know what is expected. Clear communication is

A Property Management RegroupHow To Do It And Why It Works! ©

By Ernest F. Oriente, The Coach


ON-SITE


CONNECTIONS CONSTRUCTION OFFERS:Multi-family and single family –

• Property repair and rehab• Full to partial remodels• Interior / exterior redesigns• Water damage restoration• Apartments overhauls & upgrades• Investment properties upgrades/repairs

CATERING TO: Apartment and HOA propertymanagement companies and owners

www.connectionsconstruction.comLICENSED • BONDED • INSURED

Contact Kim at 425-221-2794FOR A FREE ESTIMATE

We are growing in your market

NOW HIRING

Career Minded

Competitive Salary

Amazing Multifamily Products

Email resume to:

[email protected]

Equal Employment Opportunity Employer

Experienced Collectorsfor our Bothell, WA office

Why cram all your supplies in a tiny room when you can get them from us in a day or two? Light bulbs, toilets, fittings, paint, you name it. We

have them all! And at great prices to boot!

1417 12th Avenue, Seattle, WA 98122 (206) 322-1717 • (800) 541-9989 • www.pacsupply.com

Your Supply Room

If your target market includes the rental

ousing industry in the Puget Sound area, you will not find a more efficient, cost

effective way to reach your target.

Serving the Puget Sound

Multifamily Housing Industry

More than 17,000 Distributed Monthly

Please call & consult your

Account Executive for more Details

503-221-1260


ON-SITE

the cornerstone of management suc-cess.

Meeting individually with your team:

At the close of each regroup, plan to spend another thirty minutes more with your resident manager to recap the day, cheer their success, and dis-cuss the specific performance of each individual at the property. During this meeting ask your resident man-ager if he/she needs any additional support or training to develop their skills or the skills of their team. This is the most important part of regroup as time spent developing your team for future opportunity, will make for pro-active management which means you always have a sharp per-son ready to be promoted to the next position.

Tip from the Coach: In the same spirit of the individual meeting you have with your resident manager, ask him/her to have a similar meet-ing with each member of their leas-ing team. This will help to grow their skills as a leader and you will want to attend the first few meetings to be certain the agenda for the individual meetings are exactly as you expect. In fact, as a manager, always “in-spect what you expect”. A good rule of thumb!

Wow! Such an important topic and so much to share! Incorporate regroup into your next 30 day busi-ness cycle and see for yourself how successful the time is spent! Need help planning your agenda? E-mail a quick note to [email protected] and the Coach will send you a sample agenda in ten minutes. It’s easy! The Coach says so! Want to hear more about this important topic or ask some additional questions? Send an E-mail to [email protected] and The Coach will E-mail back to you a free invitation to be a participant on a PowerHour confer-ence call.

Author’s note: Ernest F. Oriente, a business coach since 1995 [29,760 hours], a property management industry professional since 1988--the author of SmartMatch Alliances--and the founder of PowerHour...[ www.powerhour.com and www.powerhourseo.com and www.pirmg.com ], has a passion for coaching his clients on executive leadership, hiring and motivating property management SuperStars, traditional and Internet SEO/SEM marketing, competitive sales strategies, and high leverage alliances for property management teams and their leaders. He provides private and group coaching for property management com-panies around North America, executive recruiting, investment banking, national utility bill auditing [ www.powerhour.

com/propertymanagement/utilitybil-laudit.html ] national real estate and apartment building insurance [ www.powerhour.com/propertymanagement/insurance.html ], SEO/SEM web strat-egies, national WiFi solutions [ www.powerhour.com/propertymanagement/nationalwifi.html ], powerful tools for hiring property management SuperStars and building dynamic teams, employee policy manuals [ http://www.power-hour.com/propertymanagement/employ-eepolicymanuals.html ] and social media strategic solutions [ http://www.power-hour.com/propertymanagement/social-medialeadership.html ]. Ernest worked for Motorola, Primedia and is certified in the Xerox sales methodologies. Recent interviews and articles have appeared more than 7000 times in business and

trade publications and in a wide variety of leading magazines and newspapers, including Smart Money, Inc., Business 2.0, The New York Times, Fast Com-pany, The LA Times, Fortune, Business Week, Self Employed America and The Financial Times. Since 1995, Ernest has written 200+ articles for the property management industry and created 350+ property management forms, business and marketing checklists, sales letters and presentation tools. To subscribe to his free property management newslet-ter go to: www.powerhour.com. Power-Hour® is based in Olympic-town…Park City, Utah, at 435-615-8486, by E-mail [email protected] or visit their website: www.powerhour.com


ON-SITE

18

206-679-6576BorealisLandscape.comMaintain Build

Reducing maintenance costs for 30 years

Borealis Landscape& Design, Inc.

BOREALD972KK Bonded and InsuredTalk to us about building maintenance ***20 years managing hundreds of units!

One-time cleanups, weekly, monthly, on-callServing King and Snohomish Counties

Fine Pruning Hedges Drainage Irrigation Fences

7801 Lake City Way NE

We’ve Moved!

A Property ...continued from page 12


stablishing a Smoke-Free Policy in an apartment com-

munity is becoming a growing trend with landlords in Washington and across the country. Property owners find this kind of policy is good for business and a clear win-win, lower-ing costs and risks for an owner and providing a healthier, safer, greener environment for happier residents.

Smoke-free policies can help land-lords protect their residents from the dangers of second-hand smoke and provide benefits for their owners’ investments. The benefits to owners include reduced cleaning and main-tenance costs to turn over apart-ments at move-out, fewer property fires caused by careless smoking, reduced insurance costs as a result of reduced claims, lowered risk of resi-dent warranty of habitability liability claims over adverse health effects caused by smoke, and the increased marketability of a healthier, safer liv-ing environment for residents. The financial benefits to owners are clear: managers can realize up to $3,000 in cost savings from turning over one

heavily smoked in unit. Having a smoke-free building, with a clean, green, sustainable environment, will preserve and enhance property re-sale value.

Surveys have shown that the vast majority of renters favor policies eliminating smoking in apartment homes, and they would pay higher rent to live in a healthier, greener community. 92% of all Washington renters surveyed stated they prefer smoke-free housing, including 75% who smoke. Simply put, residents place a premium on smoke-free housing policies in rentals, and your employees will have a healthier work environment. Providing a safer liv-ing and working environment is no small matter. Smoking related fires are often caused by cigarettes. Careless smoking is the #1 cause of devastating apartment fires, from the standpoint of huge property loss and loss of life.

Second-hand smoke has been determined a Class A carcinogen and contains over 4,000 chemicals, of which, 11 are known cancer causing

poisons and 250 are known toxins. Second-hand smoke has been linked to diseases such as cancer, asthma, heart disease, respiratory illness and low birth weight. Smoke-free hous-ing allows residents to enjoy their home without being exposed to the deadly chemicals found in second-hand smoke. Eliminating smoking in an apartment building is the only way to protect residents from unpleasant odors and the health risks of second-hand smoke.

One of the initial concerns regard-ing no-smoking policies was confu-sion about legality and fair housing laws. Smoking is not a protected class. It has been well documented that creating a policy banning smok-ing inside apartments and in com-mon areas of apartment communi-ties is legal, non-discriminatory and does not violate any fair housing laws. In fact, the U.S. Department of Housing and Urban Development (HUD) has issued a notice strongly encouraging the conversion of pubic housing to a 100% smoke-free envi-ronment. The majority of housing

authorities in Washington have required the creation of smoke-free policies in their communities and see the value of protecting the health of low-income families. Bottom line, property owners and managers have the right to set reasonable rules or policies that protect their invest-ments as well as the health and wel-fare of their residents.

Some municipalities have enacted new ordinances requiring residential housing to be smoke-free. In Oregon, new law requires landlords to dis-close in writing to prospective rent-ers whether they have a no-smoking policy or not.

Landlords nationwide and locally have developed a reasonable step-by-step process for implementing a smoke-free policy in their communi-ties.

1.) Determine when you want to start. Give a reasonable time frame for conversion.

2.) Develop a policy and decide what areas the policy will cover.

How to Convert a Property to Smoke-Free HousingE

President • Jay Olson Vice President • Joe Manca Past President • Cassandra Haavisto Treasurer • Mike Ashbrook

Secretary • Gail Duke Vice President of Suppliers Council • Barry Savage Executive Director • Jim Wiard

WASHINGTON MULTI-FAMILY HOUSING ASSOCIATION

18300 Cascade Ave. S., Suite 130Tukwila, WA 98188

(425) 656-9077(425) 656 9087 (fax)

[email protected]


the Puget Sound’s number one property management source

Experience.Insight.Vision.

www.paci�ccrestpm.comToll Free: (800) 526-0955

www.hainsworth.biz

HAINSWORTHLAUNDRY COMPANY

Increase Your Laundry Room Capacity by as much as 50%And Save Up To 50% on Utility Costs

Coin • CardRent • Lease

Life’s Good

The policy would include resi-dents, guests, employees and vendors. 100% smoke-free includes prohibiting smoking in the interior of all units, in any common areas, on patios or bal-conies, and within 25 feet of any building. If possible, you may create designated smoking areas, for example a nice outside gazebo on the property which may be far away from any buildings, play areas or other well traveled public spaces.

3.) Develop a No-Smoking Lease Addendum or new lease lan-guage (sample lease addendum language is available on the websites shown at the end of this article). Initiate all new leas-es with the new no-smoking language included.

4.) Train staff on the benefits of no-smoking policies and the rea-sons the property has chosen to implement this rule.

5.) Communicate the policy by noti-fying residents of the reasons for going smoke-free and the bene-fits to the community (a sample resident notification letter is available on the websites shown at the end of this article).

6.) Give existing residents a time period in which the new policy will become effective and an opportunity to sign the new

lease addendum. For existing residents who are on term leases which expire at a future date, it is advised to make the effective date for the new policy for those residents upon lease expiration and renewal. Keep in mind, resi-dents who smoke do not need to move out. Smokers simply can-not smoke inside their apart-ments, in common areas or in proximity to buildings where smoke can drift into other apart-ments.

7.) Post signage alerting residents and guests that smoking is not allowed on the property.

8.) Market and promote the benefits of smoke-free living as an ame-nity that your community offers. It may set you apart from the competition.

9.) Enforce violations of the policy just like you would any other rule, such as loud music, park-ing infractions, clutter, etc. Use a system of progressive warning letters and document, docu-ment, document.

In Washington state, residents can now smoke marijuana in the privacy of their homes. No doubt, this has added to the occurrence of com-plaints about smoke and odors drift-ing into other apartment units. A landlord’s best response to this is to convert a property to smoke-free by

enacting a no-smoking policy. Keep in mind that formal reasonable accommodation requests can be made with regard to medical mari-juana. Note, however, that landlords are not necessarily required to make accommodations for a resident to smoke, especially when an alternate accommodation may be possible. Many properties have crime and drug free lease addendums as part of their lease language. Those proper-ties should notify residents that the new law does not invalidate these addenda and that the property still prohibits controlled substances.

Implementing a no-smoking poli-cy may be in the best interest of a property owner and is not as chal-lenging as one might suspect. There is clear precedence and many resources for making this happen, and now may be the time to act. For more information, please feel free to go to these sources below or call us at the Washington Multi-Family Housing Association at 425-656-9077:

www.smokefreewashington.com www.smokefreeoregon.com

www.smokefreehousinginfo.com

15On-Site Northwest • January 2013

How to Convert ...continued from page 14

BackgroundScreening

Visit us at www.erentalservicesinc.com

Rental Services, Inc.RSI Now Offers: Online Rental Applications and

Online Lease Agreements!

RSI Offers

Credit Reports Nationwide Criminal Records Resident Verifications Eviction Records Employment Verifications Sex Offender Report Civil Records Drug Testing Driving Records Employment Screening Business Reports Tenant Screening Nationwide Access Custom Reports

Call for more information!

Toll Free: 800-628-6414Fax: 800-296-9902

DRYERVENTCLEANING.COM 425-398-5001 DRYER VEN SOLUTIONS

Dryer Vent SolutionsSpecializing in Condominiums and Multi-Unit Apartments

Repairs Problem vents Bird nestsRe-vents Bird guards

425-398-5001 DRYERVENTCLEANING.COM

THE DRYER VENT CLEANING EXPERTS

ON-SITE

an indication that the market is still very healthy. On the minus side rents and rental incentives reversed their positive trend.

It is interesting to note that nearly 60% of the 3,599 units that opened this year did so in this fourth quarter. It is safe to speculate that this level of new inventory certainly impacted this quarter's performance. We can

expect the same level of new units, about 2,000 on average, for each of the next four quarters.

The rebounding residential mar-ket is another factor to be considered. Inventory in King County is way down, 43% fewer homes on the mar-ket at the end of November than a year earlier, and the lowest inventory since 1999. Values are rising and

interest rates are at record lows. Closed sales in November were up 19% annually.

It appears that the SR520 bridge toll and shutdowns are negatively impacting some Eastside submar-kets. Many drivers are avoiding this toll to cross Lake Washington on this bridge. Volume is down 30% after the toll was implemented at the end of 2011.

There were three submarkets with major rent reductions, all on the Eastside. Average rents in Kirkland, Redmond and Bellevue East all declined 3% this quarter. The vacan-cy rate increased an average of 45 basis points in these areas when the overall market's vacancy rate decreased 10 basis points. SR520 is the primary route to Seattle for both Kirkland and Redmond. The Bellevue East submarket accesses both SR520 and I-90 across Lake Washington to points west. The downtown Bellevue and Eastside North submarkets have also been adversely affected.

There were three submarkets in the King/Snohomish market that had significant vacancy increases. Of these, Bothell had the largest, increas-ing from 5.02% to 6.71% vacancy.

Bothell accesses Seattle via SR520, but SR522 is more direct, and it's toll free. SR522 has become more con-gested due to drivers avoiding the toll on the 520 floating bridge. This could well be a cause for Bothell's high vacancy rate.

Tom Cain of Apartment Insights Washington is a member of the non-profit Central Puget Sound Real Estate Research Committee in charge of provid-ing apartment rent and vacancy data. Tom has been a member of the Committee for over 25 years, and has been research-ing apartment market trends in the Seattle area since 1978. His company surveys the five counties in Central and South Puget Sound.

This article highlights survey results that subscribers can access from an online database of all 50u+ properties. Apartment Insights also provides cus-tomized rent reports and market reports. www.apartmentinsightswa.com 206-632-2220


425-330-9328

Owner OperatedTruck Mounted Units • Licensed & Insured

Serving Snohomish, King & Pierce CountiesCommercial & Residential

· Carpet Cleaning / Upholstery Cleaning· Expert Stain Removal

· 24/7 Emergency Water Damage Clean-Up

425-330-9328





www.ExtremeSteamCC.com425-330-9328





425-330-9328





Studios from $50

1 Bedroom from $60

2 Bedrooms from $70

3 Bedrooms from $80

If your target market includes the rental housing

industry in the Puget Sound area, you will not

find a more efficient, cost effective way to reach

your target.


ON-SITEServing the Puget Sound

Multifamily Housing Industry More than 17,000

Distributed Monthly

Please call & consult your Account Executive for

more Details

503-221-1260

ON-SITE

Our staff provides your business with:• Fifty percent reimbursement up to $500

for hazardous waste improvements• A hazardous waste directory for quick answers • Disposal options for common wastes• Step-by-step info to become an EnviroStar

Schedule a visit now! Call Trevor Fernandes, 206-263-3066 or Sue Hamilton, 206-263-3045

BUGSPRAY Deck

Stain

Gel Stain

1301

_302

3haz

wO

NSI

TEad

.ai w

gab

ON-SITE CONSULTATION ON HAZARDOUS MATERIALS

NO

CHARGE!

You have paid for these services in your utility fees -

use them!

ALLSURFACEWORKS

FREE ESTIMATES

33 Years Experience Servingthe Greater Puget Sound Area

WA State Contractors #ALLSRWC982B8

Specializing in serving the rental housing industry and business parking lots

ASPHALT SERVICES♦ NEW PAVING,

REPLACEMENT & REPAIRS OF DRIVEWAYS,

PARKING LOTS, ROADS

♦ SEALCOATING/ CRACK FILLING

CONCRETE SERVICES♦ NEW INSTALLATION,

REPLACEMENT OR REPAIR OF DRIVEWAYS, SIDEWALKS, PATIOS, HANDICAP RAMPS

♦ EXTRUDING CURBING

Let Us Repair Your Trip Hazards & Root-Damaged Areas206-240-3571 800-514-8800

Visit us at [email protected]

OTHER SERVICES♦ LINE STRIPING/

STENCILING♦ SIGNS♦ DRAINAGE

INSTALLATION & CORRECTIONS

♦ PRESSURE WASHING

Overall ...continued from page 7

carrying costs if it doesn't sell right away, etc. You need to make sure you are buying the property at a sig-nificant discount to cover yourself completely.

4) Buy and hold. As mentioned above, real estate

tends to gain value over time. Bad properties in bad neighborhoods will accrue equity if given enough time. History has shown us that even when a large market correction occurs like has happened now, prop-erties eventually do recover and increase in value. The secret is to make sure the property is at least covering it's own costs while you wait for the equity to build up in it.5) Lease options.

Not everyone has perfect credit. For those who have credit issues finding a lender to purchase a home

can be an impossible task. They need time to get their credit repaired. These people are perfect candidates for lease options. They will pay above market value for the house and put a non-refundable down pay-ment down. They are willing to pay for the privilege of rebuilding their credit while working towards a path of home ownership. For these peo-ple, a lease option presents a solu-tion to their lending problem and buys them the time they need to get their credit and/or income ready to go to a traditional lender.

Media Contact: James Paffrath

RealtyPin.com, 1-(866) 960-8649, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

PR Newswire (http://s.tt/1ygg7)


How To ...continued from page 6

ON-SITE

Siding : Exterior PaintSiding : Exterior Paint

www.pacificexteriorsllc.com866-919-7761

ere are few tips on how to in-crease the number of reviews

you receive on Yelp and Google Plac-es. These are very easy to use tips that can greatly improve the number of reviews.

Why is this goal of increasing your online reviews so important?

According to research by the Opin-ion Research Corporation (ORC), 84% of Americans say that their buy-ing decisions are highly influenced

by online reviews. Give this a minute of thought and you'll realize that you also read reviews make decisions based on what you have read. Also, the number of reviews the commu-nity has on Google Places, the rating, and frequency of those reviews is correlated with the visibility of your listing according to research and lo-cal search ranking factors. http://www.davidmihm.com/local-search-ranking-factors.shtml

Increase review today by adding calls to action: The testimonials page on your website is not only a great place to add great reviews about your apartment community and company, but is also a great page to add a call to action for residents to leave reviews. We made it easy by adding links to read and write reviews for Google, ApartmentRatings.com and Yelp.

Make certain you and your teams are actively asking for reviews: Have call outs in your email signatures, on the leasing desks, and on all so-cial media channels asking residents to leave reviews on the channels

that are important to you. Link back to the resident reviews page on the website via social media posts so fu-ture residents can read great reviews and click to read or write reviews on the channel of their choice right from your website.

We've seen great results for cli-ents of whom we've added a reviews page linking to their resident's re-views profiles on Google Places, and Yelp. It's critical to make certain that the entire community team is en-couraging residents to leave reviews on these channels by providing them with the direct URL to the reviews landing page on the community's website. Leave a card in each apart-ment where a service request has been taken care of... watch how call backs suddenly decrease!

President • Rob Trickler Past President • Judith Violette 1st Vice President • Darlene Pennock Treasurer • Gina deWeber Secretary • Donna Lee Smitt

WASHINGTON APARTMENT ASSOCIATION

1500 Water St. SW, #5, Olympia, WA 98501 • (360) 951-1426 • www.waapt.org


1/8 Page4 7/8” x 3 5/8” bwOn-Site3a

ON-SITEVALLEY, METRO, ARIZONA APT. NEWSSalsbury Industries

Jan, Mar, May, Jul, Sep, Nov,

The Industry Leader in Quality

Order Factory Direct!Contact Us Today for a Free Catalog!

1010 East 62nd Street, Los Angeles, CA 90001-1598Phone: 1-800-624-5269 • Fax: 1-800-624-5299

As a broker or property manager, obtaining the Green Broker certi fi ca-ti on will help you to identi fy and discuss essenti al issues related to green features of real estate you manage, provide advice and counsel on the benefi ts of building and managing Green. The program off ers 30 hours of conti nuing educati on credit for real estate licensees, and all graduates have the right to display the certi fi cati on on their business cards and mar-keti ng materials.

Already LEED Certi fi ed? The U.S. Green Building Council (USGBC) has approved the technical and instructi onal quality of this course for 30 GBCI CE Hours towards the LEED Credenti al Maintenance Program.

Interested in more informati on? Visit www.greenbrokereducaton.com.

Questi ons? Contact Tricia at the Commercial Brokers Associati on.

425 820 3348

BECOME GREEN BROKER CERTIFIED

We specialize in all aspects of landlord-tenant relations from

evictions to lease drafting.

We are experienced, timely, hands-on, aggressive and affordable.

Please contact us for a confidential discussion.

Law Office of Evan L. Loeffler PLLC

206.443.8678www.loefflerlegal.com • [email protected]

2033 Sixth Avenue, Suite 1040, Seattle, WA 98121

2013 On-Site Resource Directory adfor Law Office of Evan L. Loeffler

4.875 x 3.625”

Land

lord

–Ten

ant L

aw

Contact Scott Paust at 206-786-0484

Roof •Tight has more than 12 years of experience in commercial sloped, low slope, and flat roofing in the

Seattle, Eastside, and South King County areas with a specialization in:

• Condominium Complexes • Apartment Housing • Duplexes and Multiplexes • Other Commercial Buildings

Our crew and equipment scale easilyto accommodate nearly any size job.

• Free, No-Obligation Estimates• Family Owned and Operated• Licensed Commercial Roofing Contractors #ROOFTI*006QA• Bonded and Fully Insured• Active members of the Better Business Bureau, Rental Housing Association of Puget Sound, Master Builders Association, National Roofing Contractors Association, Community Associations Institute, and Associated Builders and Contractors, Inc.

Increasing Community Reviews Online Should On The Top of Your Marketing "To Do List" for 2013

By Tami Siewruk

H


New Windows

are aGREAT

Investment!

3 Energy-efficientwindowswillgiveyouthecompetitiveedgetoimproveoccupancyrates.

3 BeautifulnewwindowsfromMilgardwindowswillincreasetenantsatisfactionbyloweringtheirutilitybills,increasingtheircomfortandreducingoutsidenoise.

3 Milgardwindowsarevirtuallymaintenance-freetosaveyoutimeandmoney.

3 Ifyouhaveanelectrically-heated5+unitbuildinginTacomaPowerorSeattleCityLight’sservicearea,besuretoaskusaboutnewwindowrebates!

New Energy-EfficientWindows Attract

New Tenants!

SRC WINDOWSA SOLID ROCK COMPANY

“We were very pleased with their work and would definitely use them again.”

– Ed and Sharon Bezy via Angies List

Callor E-MAIL TODAY

FOR A FREE, NO OBLIGATION ESTIMATE

[email protected]

Callor E-MAIL TODAY

LICENSED,BONDED,INSURED•REGISTEREDUTILITIESCONTRACTOR•MEMBER:RHA,MBA,BBBWAContractorsLic.#SRC••981KM

the landlord times - on-site - january 2013

Documents