Here is a Portland apartment market mid-year summary for 2024 that shows the Portland apartment market stabilizing or improving. By Patrick Barry There was a general sense of optimism that the apartment market would show improvement in 2024. However, at the halfway point of the year, apartment market fundamentals (rents/vacancies) are stabilizing or improving, though the sales market remains extremely sluggish, Barry & Associates write in a report. “We have created a one-page report summarizing how the Portland apartment [market] is faring in YTD 2024,” the report says. “While the sal ..read more

A landlord needs one of her currently occupied 3-bedroom apartments to keep maintenance on-site in her apartment complex. That is the question this week for Ask Landlord Hank. Remember Hank is not an attorney and he is not offering legal advice. If you have a question for him please fill out the form below. Dear Landlord Hank, We have a property of 70 units. Out of those 70 units, only seven are 3-bedroom units. I haven’t had a 3-bedroom available for the past seven years, and my maintenance supervisor is on the waiting list for one. He has told me that he will move out because his family ..read more

A short-term rental operator who called himself the “wolf of Airbnb” was sentenced to 51 months for defrauding landlords of more than $1 million in rent, according to a release. Damian Williams, U.S. attorney for the Southern District of New York, said Konrad Bicher, 32, of Hialeah, Fla., was sentenced for fraudulent operation of real estate businesses, including by entering into lease agreements for residential apartment units in Manhattan on false and fraudulent pretenses and by making false statements to obtain loans guaranteed by the U.S. government. “For years, Bicher schemed to defraud N ..read more

A broad coalition of housing providers and lenders released a letter to President Biden opposing the recent proposal to cap rents nationwide, according to a release from the National Multifamily Housing Council (NMHC). “We understand the appeal of what appears to be a quick fix to stabilize rents, but arbitrary federal rent caps are not the answer. Rent regulations jeopardize the financial solvency of rental communities, result in lower quality housing options for renters, and severely limit their housing choices,” the letter says. Oppose Rent Cap “Rent control policies have pro ..read more

Marijuana use in rental housing presents a fair housing challenge for property managers who need to navigate the legal complexities in federal and state laws. By The Fair Housing Institute Navigating the legalities of marijuana use within property management is an ongoing challenge as states increasingly adopt diverse regulations. This variance between state and federal laws places property managers in a complex position, tasked with adhering to legal requirements while addressing the needs and rights of residents. This article provides a comprehensive overview for property management professi ..read more

A plan to cap rent increases to 5% annually for landlords with more than 50 units is being proposed by the Biden administration but will face stiff opposition in Congress. The White House announced it is asking Congress to pass legislation giving corporate landlords a choice to either cap rent increases on existing units at 5% or risk losing current valuable federal tax breaks. In a release, the announcement said, “Some corporate landlords have taken advantage of the shortage of available units by raising rents by more than increases in their own costs—resulting in huge profits at a time when ..read more

By Lance Anderson An online insurtech isn’t what you would consider a traditional insurance company. Many new online insurtechs have entered the insurance industry, and there are good and bad things to consider. THE GOOD: Insuretechs have fast and consumer friendly websites created to provide quick quotes and easy to purchase policies. This is where the good ends. THE BAD: They are not backed by traditional insurance companies with years of experience & knowledge. They are normally backed by several layers of investment companies whose number one goal is a return on their investment. Yo ..read more

Think of your rental criteria as frequently asked questions for those applying to rent your property and are they written down? By David Pickron Early on in my investing career I flew by the seat of my pants.  I had no real policies or guidelines; I relied on gut reactions to situations as they surfaced.  As I travel and meet with different real estate groups across the country, I always ask this critically important question;  who here uses a detailed criteria?  Rarely do I get many hands raised. In fact you may be asking right now, what is criteria and more importantly, h ..read more

The problem is back, again, with tenant complaints about noisy, running children. In this week’s Ask Landlord Hank question he deals with children upstairs distributing downstairs tenant and offers some advice. Remember Hank is not an attorney and cannot offer legal advice. If you have a question for him please fill out the form below. Dear Landlord Hank: Our upstairs tenant has a young kid, around two-years-old, who runs around on the wood floor at random hours of the evening and into the night. The older downstairs tenant says this wakes her up. She has asked the upstairs tenant a couple of ..read more

CoStar Group forecasts that as the new apartment supply is absorbed, new data shows there will be an increase in rents in 2025 and 2026, ending the lower prices “many renters have had over the last couple of years as a result of the post-COVID multifamily supply glut,” the company says in a release. The company, which specializes in real estate analytics and data information, says this is what renters should expect in the coming years. Key indicators, such as the national vacancy rate and construction starts, indicate a coming period of undersupply. Jay Lybik, CoStar’s national director o ..read more