Buying, selling and operating apartments in Portland

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.

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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. 


Dec 16 + FY – Portland Apt Sales

26 January 2017
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To download the individual sales report, right-click the link below and “Save As”:

<<<portland_dec16vsdec15_aptsales>>>

Highlights:

  • CapRates reported are still in the mid 5% compared to 2015 in the high 5% range. 
  • $/unit Dec 16 YTD is a 15.6% increase over Dec 15 YTD.
  • $/SqFt Dec 16 YTD  is a 10.6% increase over Dec 15 YTD.
  • Dec 2016 YTD sales = $2922M vs. Dec 2015 YTD sales of $2360M

We are 24% over 2015 Full Year gross sales which is much higher than I would’ve projected in Sept 16.  50% of 2016’s gross dollar sales happened in Oct, Nov and Dec 16.

Dec 16 would’ve been a good year not that long ago (in 2010 to be specific.)

I’ll be posting a 5 year (2011-2016) Portland apartment sales history by mid-Feb, but if you’d like an earlier copy, eMail me.  I sort sales by:

  • County
  • Neighborhood
  • Complex Size
  • Decade Built
  • Largest sales per county by total sale, $/SqFt and $/Unit

Interest rates have jumped.  My conjecture is there’s a sense of impending rate increases driving a burst of large transactions in Oct-Dec 16.  Dec 16 had $668M in transactions (vs. $260M in Dec 15).

If you’d like more information on:

– 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

– A very useful financial analysis of your property, call.  It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

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.