Buying, selling and operating apartments in Portland

MMHA Forms for Rent Forbearance – Oregon

10 April 2020
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Right-click to download

 

<<<MMHA_ RentForbearanceRequest_Form>>>

<<<MMHA_ RentForbearanceAgreement_Form>>>

<<<MMHA_ RentBalanceReminder_Form>>>

MMHA [Metro Multi-Family Owners Association} (if you can join, it is a great rental owner’s association http://www.multifamilynw.org), has crafted these for use with tenants who request a forbearance on rent payments.

 

You will still need to follow up and enforce them.  However, they can serve as a place to start.  Since COVID is changing how things are handled by the day, these may change, but are a start.  You use them at your own risk.

 

The forms are intended to:

  1. Establish that the tenant is legitimately requesting an extension due to COVID

  2. Establish an agreed-on amount of rents paid and still owing

  3. Provide a reminder of amounts owed for future use to the tenant.

 

 

Steve Morris – Principal Broker

SMI Commercial Real Estate, LLC

3625 River Road N Ste 250 Keizer, OR 97303

O 503.390.6060

C 503.970.4593

steve@smicre.com

www.smicre.com

OR Principal Broker License # 200202054

WA Managing Broker License # 24512

 


Portland Apartment Sales – June 19

25 July 2019
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To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_Jun19vsJun18_AptSales>>>

Highlights:

  • Gross sales dollars June 19 YTD = $790.8M is a 13.6% DECREASE over June 18 YTD = $796.8M
  • $/unit June 19 YTD = $176K is a 5.2% DECREASE over June 18 YTD = $186K.
  • $/SqFt June 19 YTD = $202.34 is a 9.7% DECREASE over June 18 YTD = $224.08
  • CapRate June 19 YTD = 5.52% is a 3.4% INCREASE over June 18 YTD = 5.34%

The 2013-2018 Portland Apartment Market History is available on the WEBsite at:

https://portlandapartmentsales.com/2019/04/11/portland-apartment-market-2013-2018-annual-report/

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.

Steve Morris | Principal Broker
SMI Commercial Real Estate
Phone: 503.970.4593 
steve@smicre.com | www.smicre.com
OR License # 200202054 | WA License # 24512


Tenant Engagement Considerations

27 June 2019
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A local attorney, Jeffrey Bennett of Warren Allen, has 20+ years of experience in dealing with tenant and landlord issues in Portland.

He’s written a very useful article on the subject you can download at the link below (right-click to save):

 

<<<Winning Court Strategies_Jun19>>>

 

Whether you’re an owner or manager this article is very useful.  Jeff goes over basics like:

  1. Forms and the need to keep current

  2. Delivery options and timelines

  3. 30-/90-day notices

  4. Filling in forms correctly

  5. For cause notices

  6. Charges, late and partial payments

  7. Preventing mistakes and giving yourself the best case

  8. Deposits, charges and dealing with tenant requests

 

I assure you it’ll be the best (not being over-dramatic) 30 minutes of your time invested in your apartments.

The environment for landlords was difficult and new rules don’t make it easier.  Being knowledgeable is a minimum requirement for successful landlords today.


Portland Apartment Sales – April 19

31 May 2019
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To download the individual sales report, right-click the link below and “Save As”:

 

<<<Portland_Apr19vsApr18_AptSales>>>

 

Highlights:

  • Gross sales dollars April 19 YTD = $431.4M is a 25% DECREASE over April 18 YTD = $575M
  • $/unit April 19 YTD = $171K is a 4% DECREASE over April 18 YTD = $177K.
  • $/SqFt April 19 YTD = $198.01 is a 10% DECREASE over April 18 YTD = $220.69
  • CapRate April 19 YTD = 5.48% is a 4.6% INCREASE over April 18 YTD = 5.24%

The 2013-2018 Portland Apartment Market History is available on the WEBsite at:

https://portlandapartmentsales.com/2019/04/11/portland-apartment-market-2013-2018-annual-report/

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.

Steve Morris | Principal Broker
SMI Commercial Real Estate
Phone: 503.970.4593 
steve@smicre.com | www.smicre.com
OR License # 200202054 | WA License # 24512


Portland Apartment Market – 2013-2018 Annual Report

11 April 2019
2 Comments

To download the individual sales report, right-click the link below and “Save As”:

<<<PortlandAptHistory_2013-2018_11Apr19>>>

Highlights / Contents:

  • General Market Comments
  • New Construction Update
  • Sales by County
  • Sales by Neighborhood
  • Sales by Unit Count of project
  • Sales by Decade Built
  • Tabulation of Largest Sales by $/unit, $/SqFt. Gross $, County and 2012-2017 Largest sales.

If you’d like more information on:

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be very helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

Please contact me:

Steve Morris | Vice-President
IMG Northwest
1234 SW 18th, Suite 102
Portland, OR 97205
Phone: 503.970.4593 
steve@imgnorthwest.com | www.imgnorthwest.com
OR License # 200202054 | WA License # 24512

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here. 


Portland Apartment Sales – Jan 19

1 March 2019
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To download the individual sales report, right-click the link below and “Save As”:

 

<<<Portland_Jan19vsJan18_AptSales>>>

 

Highlights:

  • Gross sales dollars Jan 19 YTD = $97M is a 41% DECREASE over Jan 18 YTD = $163M
  • $/unit Jan 19 YTD = $161K is a 7% DECREASE over Jan 18 YTD = $174K.
  • $/SqFt Jan 19 YTD = $199.75 is a 27% DECREASE over Jan 18 YTD = $271.89
  • CapRate Jan 19 YTD = 5.33% is a 0.2% INCREASE over Jan 18 YTD = 5.32%

Biggest item is the effect of the newest OR rent control law passed by the Legislature.  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats/motivators.

I should have a 2013-2018 Portland Apartment Market History by mid-Mar 19.  If you’d like more information on 2012-2017 Portland Apartment Market history.  Is posted at:

https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for a copy also.

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.

Steve Morris | Vice-President
IMG Northwest
1234 SW 18th, Suite 102
Portland, OR 97205
Phone: 503.970.4593 
steve@imgnorthwest.com | www.imgnorthwest.com
OR License # 200202054 | WA License # 24512


Portland Apartment Sales – Nov 18

21 December 2018
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<<<Portland_Nov18vsNov17_AptSales>>>

Highlights:

  • Gross sales dollars Nov 18 YTD = $2163M is a 62% INCREASE over Nov 17 YTD = $1335M
  • $/unit Nov 18 YTD = $188K is a 10% INCREASE over Nov 17 YTD = $171K.
  • $/SqFt Nov 18 YTD = $219.22 is a 12% INCREASE over Nov 17 YTD = $195.91
  • CapRate Nov 18 YTD = 5.32% is a 1.3% DECREASE over Nov 17 YTD = 5.39%

Including all sales, we are at a run rate of $2.4B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016).  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats/motivators.

If you’d like more information on 2012-2017 Portland Apartment Market history.  Is posted at:

https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for a copy also.

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.

Steve Morris | Vice-President
IMG Northwest
1234 SW 18th, Suite 102
Portland, OR 97205
Phone: 503.970.4593 
steve@imgnorthwest.com | www.imgnorthwest.com
OR License # 200202054 | WA License # 24512


Portland Apartment Sales – Aug 18

27 September 2018
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To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_Aug18vsAug17_AptSales>>>

Highlights:

  • Gross sales dollars Aug 18 YTD = $1355M is a 43% INCREASE over Aug 17 YTD = $950M
  • $/unit Aug 18 YTD = $190K is a 11% INCREASE over Aug 17 YTD = $171K.
  • $/SqFt Aug 18 YTD = $2216.87 is a 10% INCREASE over Aug 17 YTD = $197.19

We had a stronger month vs. Aug 17 due to several large sales.  Including all sales, we are at a run rate of $2.0B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016).  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats.

If you’d like more information on:

– 2012-2017 Portland Apt Market history.  Is posted at 

https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for a copy also.

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

Please contact me:

Steve Morris | Vice-President
IMG Northwest
1234 SW 18th, Suite 102
Portland, OR 97205
Phone: 503.970.4593 
steve@imgnorthwest.com | www.imgnorthwest.com
OR License # 200202054 | WA License # 24512

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here. 


Portland Apartment Sales – July 2018

31 August 2018
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To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_July18vsJuly17_AptSales>>>

Highlights:

  • Gross sales dollars July 18 YTD = $1092M is a 44% INCREASE over July 17 YTD = $759M
  • $/unit July 18 YTD = $189K is a 13% INCREASE over July 17 YTD = $167K.
  • $/SqFt July 18 YTD = $222.62 is a 15% INCREASE over July 17 YTD = $194.15

BESIDES TWO LARGE SALES – We had a weak month vs. July 17.  Without these, we’d be at $61M gross sales for July 18.  Including all sales, we are at a run rate of $1.8B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016).  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats.

The $206M sale will probably be about 11-12% of total year gross sales for 2018.

If you’d like more information on:

– 2012-2017 Portland Apt Market history.  Is posted at 

https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for a copy also.

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

Please contact me:

Steve Morris | Vice-President
IMG Northwest
1234 SW 18th, Suite 102
Portland, OR 97205
Phone: 503.970.4593 
steve@imgnorthwest.com | www.imgnorthwest.com
OR License # 200202054 | WA License # 24512

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here. 


Portland Apt Market – 2017 Annual Report

22 March 2018
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To download the individual sales report, right-click the link below and “Save As”:

<<<PortlandAptHistory_2012-2017_14Mar18>>>

Highlights / Contents:

  • General Market Comments
  • New Construction Update
  • Sales by County
  • Sales by Neighborhood
  • Sales by Unit Count of project
  • Sales by Decade Built
  • Tabulation of Largest Sales by $/unit, $/SqFt. Gross $, County and 2012-2017 Largest sales.

If you’d like more information on:

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be very helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

Please contact me:

Steve Morris | Vice-President
IMG Northwest
1234 SW 18th, Suite 102
Portland, OR 97205
Phone: 503.970.4593 
steve@imgnorthwest.com | www.imgnorthwest.com
OR License # 200202054 | WA License # 24512

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here. 


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