RHA Event for Eastside coming fast! April 23rd (this Thursday) Sign up today!!!

Lots of our clients know what we’re associate members of the Rental Housing Association of Puget Sound. One of the reasons we really like this outfit is that they cater to landlords with smaller investment portfolios than the big guys who own the massive apartment complexes or shopping centers. Their newsletters carry up to date information on changes that impact rental housing and they lobby on behalf of landlord’s rights and interests.

They’ve got an upcoming members event this Thursday so I’m going to post the info in complete detail as I received over my email today.

“Good morning,
I just wanted to remind you of a fantastic opportunity coming up on Thursday, April 23rd. The Rental Housing Association is having a membership meeting at Contract Furnishings Mart Redmond location (14920A NE 95th St, Redmond, WA 98052). The topic is “How Your Rentals Can Thrive in a Bad Economy” and we have an all-star line-up of panelists.
The cost is $30, which does include beer, wine and soda as well as a STEAK dinner! Steve Frasier, owner of CFM is quite the chef. You won’t want to miss out!

Here is the schedule for the evening:

6-6:30—Check-in, Networking, Drinks
6:30-7:00—DINNER
7-8:30—Program of panelists

Program:
• Utility Submetering and lowering your utility costs: Jeff Lowry
• Insulation and cheap ways to lower your utility costs: Kathy Abrams
• Rent to Own Lease Options: Sonya Wind
• Resident Retention and Appreciation: Tina Gordon
• Budget and Expense Reporting: Dawn Jones

You must RSVP by Wednesday, April 22nd at 12:00 pm.
Make sure to bring your questions, as there will be time for Q&A.

We hope to see you there. Please let me know if you have any questions! You may sign up online at www.rha-ps.com, with me over the phone or respond to this email.
Thank you!

Sincerely,

Holly Clausen
Director of Events and Education
Direct (206) 905-0605 Fax (206) 286-9461
hclausen@rha-ps.com

Rental Housing Association of Puget Sound
529 Warren Ave N, Seattle, WA 98109
Office (206) 283-0816 Toll Free (800) 335-2990
www.rha-ps.com

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Real estate classes from Team Reba now at Renton Technical College

It’s official!  We’re in the catalog of classes for the Spring Quarter at Renton Technical College.  There are 8 great classes to choose from that range from buying and selling homes to analyzing investment property, diversifying investment portfolios to include real estate, short sales/foreclosures, a women’s focused class (this one to be held at Renton’s own Red House wine bar & restaurant), and a panel discussion of how best to protect your property assets using LLCs or other methods.  All classes but the “women’s night out” to be held on campus.

You can find the classes at this link to the online PDF document at RTC on page 14 of 19 in the “Real Estate” section:

http://www.rtc.edu/StudentServices/ClassSchedule/files/LifeStyle.pdf

sign up forms are also available online but must be printed, filled out and mailed in with payment to RTC:

http://www.rtc.edu/StudentServices/ClassSchedule/files/CommEd_RegistrationForm.pdf

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RHA offers another great class for landlords in Seattle

Seattle Landlord Tenant Law:  Thursday. Jan. 8th, 3 – 6 PM Speaker: Chris Benis, Real Estate Attorney and RHA Legal Counsel
Time: 3:00pm-6:00pm
Location: RHA Conference Room, 529 Warren Ave N, Seattle WA 98109
Cost: $45 for members without clock hours
         $60 for members with clock hours
-SPACE IS LIMITED PLEASE REGISTER EARLY-
Please RSVP before January 7, 2009.  The landlord tenant laws of Seattle are unique and not always intuitive.  In this class, we focus on everything that a Seattle landlord must know to comply with the City’s laws.  Special attention is paid to the Just Cause Eviction Ordinance, Landlord Prohibited Acts Ordinance, Rental Agreement Regulation Ordinance, and Tenant Relocation Assistance Ordinance. 

Click Here to Register for this class online Other Events:
South Sound Members Meet-up, Tacoma: Tuesday Jan. 13, 5:30 PM
King County Members Meet-up, Seattle:  Friday Jan. 9, 8:30 AM
RHA’s Investment Club, Seattle:  Jan. 20, 7 PM

Legislative Day, Olympia, Thurs. Jan. 29, All Day, + Evening reception

Reba commentary – if you own a property in the Seattle area this class will be important for you to attend to learn more about the very restrictive and required laws that you must follow as a landlord. These impact condos, townhomes and single family homes just as much as multifamily properties. There are no exemptions. Chris Benis is a well known and respected attorney who has been speaking and writing on these issues for many years and he’s got the practical background for the topics that will be covered in this class. I highly recommend it – especially if you’re self-managing property.  Non-RHA members are welcome, but this class will help show you the value of being involved in an organization like this one.  You can learn more about RHA at this link.

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Team Reba brings real estate classes to Renton Technical College in Spring 2009!

We are extremely excited to bring a series of new and some of our most popular classes to a new venue this year.  As some of our clients and readers know, the organization Discover U closed its doors about this time last year so we lost one of our classroom venues.  Now we have partnered with mortgage originator Paul McFadden to offer these 8 great classes for the public at Renton Technical College.  All but one will be held at the RTC campus.  We hope you’ll be able to join us, starting in April, and soon these will be on our Team Reba website where you can sign up or be directed to the RTC site for sign up there.  We’re still waiting for details from them for that final piece since they’re still in Winter session.  Check back for details!

 

Why Women Should Buy Real Estate 

June 4 7-9pm

Location TBD

Whether you want to build a nest or a nest egg, it makes sense to consider real estate as part of your financial plan. Learn tips on how to research the right home or neighborhood for you, how to choose the right type of abode for your individual needs and best tips for navigating the process of buying.

Join us for a “girls night” devoted to preparing you for one of life’s biggest purchases, beyond fabulous strappy sandals.

(Wine, snacks, & espresso available for purchase.)

Short Sales & Foreclosure – Demystify the Process

May 16 10am-Noon

The financing and housing crisis has hit Washington residents with 1 in 10 homeowners owing more than their home is worth. What does this mean to you as a homeowner, seller, or potential investor buyer?  Learn what a Short Sale is and how it relates to and differs from a foreclosure? How do Short Sales work? What are the timelines for each? And more importantly, if I’m involved in one what can I expect? The class will demystify the process and give you the knowledge you need to navigate one, as a buyer or seller.

Selling Your Home In This Market

June 20 10am-Noon

Recent changes in the local real estate markets have forced sellers to amp up their selling skills. Learn what to expect from buyers and how to craft a “WOW!” marketing plan to bring a quality offer quickly on your property. Learn about new laws affecting your obligations for legal disclosures and how to overcome the inevitable hurdles of contract contingencies.

Getting A Loan Today

April 18 10am-Noon

Media coverage today leads us to believe no one can qualify for a home loan. Nothing could be further from the truth. Learn how you can prepare yourself to get the best loan for your situation.

The importance of credit scoring, how it is determined, and what you can do about it

The loan approval process-from start to finish including qualifying factors

  • New and renewed loan programs:

    • Low down-payment options (FHA, grants, gov’t bond)

    • Energy efficient (Green Loans)

    • Conventional and non-conventional financing

Diversify Your Portfolio With Real Estate

April 18 6:30-8:30pm

Now is the best time to review and rebalance your investment portfolio. With property prices down and reasonable financing options still available, it’s worth considering how real estate can fit into your investment strategy.  This course will cover several elements including:

  • What mix of investments is appropriate

  • Tax savings and investment strategies to ensure a comfortable retirement

  • How to compare monthly returns of slow to faster turn around projects.

Real Estate Investment Analysis

May 5 6-9pm

In this “No-Fluff Real Estate Investment” class, you’ll discover how to do the financial due diligence necessary to make your real estate investment a profitable one. Learn the basics of financial analysis, taxation and planning from a financial analyst experienced in public and corporate accounting, taxation, financial management and analysis.

Should I Buy or Sell Now?

 April 7 6:30-8:30pm

It’s not uncommon for buyers and sellers to feel lost in today’s market place with all the confusing and sometimes conflicting messages in the media.  Join us as we cover current, local real estate market and financing data which can help you decipher for yourself if now is the right time to make your move.

Ask the Experts – A Panel Discussion for Real Estate Investors

May 19 6:30-8:30pm

Have you ever wondered if you should put your investment property into an LLC but haven’t known who or what to ask?  We’ll have experts in estate planning, real estate law, and a CPA who can answer your questions on the best ways to protect yourself and your assets. A moderator will help lead the discussion as well as open Q&A session.

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Who is responsible for cleaning walkways and driveways for tenants?

My assistant, Nina, had me wondering about this a lot during the “big snow” of 2008 when she couldn’t leave her apartment complex for fear of damaging her car.  She mentioned over the phone that many other apartment dwellers in her complex were spinning out and having trouble getting out of the parking lot.  Thankfully she can do some of her work remotely and she has a laptop she can use for such occasions but she still needed to be able to leave to get groceries. Since the complex she lives in is fairly large, I would expect that there is a snow plan in place for clearing the parking lots, but I don’t personally know what that plan might be although I suspect some of the tenants will start asking about it now.

As an associate member of the Rental Housing Association, I get access to a lot of the material that they produce for local property owners and this post about keeping walkways and driveways clear from their new blog hits the mark on the head for this topic.  It’s noteworthy that the law applies to all of Washington State and not just Seattle or King County, so all landlords need to be aware of what their responsibilities are.  I’ve seen many instances where leases don’t specifically speak to the issue of lawn care and other maintenance issues like this and it can lead to big problems later.  Brings a whole new meaning to watching your step with snow and ice, doesn’t it?

And that gets me thinking even more.  If your lease isn’t clear about the responsibilities and someone slips, falls and gets hurt on your property – are you then on even thinner financial ice if a claim is made against you?  Perhaps while you are updating your leases to add this element you should also check to see if you have umbrella insurance and adequate coverage on your properties for anyone who might get hurt on site at your building.

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Updated early 2008 crime stats for Seattle area available

Crime Density
41 – 507
508 – 1011
1012 – 1999
2000 – 3771
3771 – 7053
Number of crimes per square mile

Many factors influence crime density. These maps should not be used to determine the general level of safety in a neighborhood. Click here for more detailed information. Also, discrepancies between the map and the graph may indicate the unfounding of an incident reported previously.

You can learn more about these stats by clicking on the link above and checking out the noted website.

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News you can use from the Puget Sound Clean Air Agency and this season’s burn bans

Message from the Puget Sound Clean Air Agency – reprinted with permission

New law prompts significant change to residential burn bans Where there’s chimney smoke, there’s fire — and fines

November 24, 2008 — A new burn ban season is upon us and this one will be different from those in past falls and winters. 

*     The Puget Sound Clean Air Agency will be calling both Stage 1 and Stage 2 burn bans, often in sequence. 

*     Stage 2 burn bans are more restrictive than the more familiar Stage 1 burn bans and ban ALL wood burning, even from certified wood stoves and pellet stoves.

*     Our Puget Sound region will likely have longer burn bans, and perhaps more of them. 

*     And more fines may be issued for people violating the bans.

What is prompting this change?     

First, in late 2006, the US Environmental Protection Agency (EPA) tightened the 24-hour health standard for fine particle pollution, also known as PM2.5.  And earlier this year, our Washington State Legislature lowered the air-quality trigger for calling a burn ban to align with this new EPA standard.  

The reason for these actions is to better protect public health because the soot and smoke that makes up these fine particles are associated with serious health effects.  The tiny size of these pollutants allows them to be easily inhaled, bypassing the immune system and proceeding deep into the lungs, where they can cause respiratory and cardiovascular problems, including premature death. 

So what’s this mean if you heat your home with wood or pellet fuel? 

During a burn ban, we’re basically asking people to rely on their home’s other, cleaner source of heat (such as their furnace or electric baseboard heaters) for a few days until air quality improves, the risk to public health is diminished and a ban is cancelled.

If agency inspectors observe a burn ban violation, they will issue a Notice of Violation to the property owner and recommend a $1,000 penalty.

The rules for a Stage 1 burn ban are the same as in the past: 

*     No burning is allowed in wood-burning fireplaces, uncertified wood stoves or fireplace inserts, unless this is your only adequate source of heat.

*     No visible smoke is allowed from any wood stove or fireplace, certified or not, beyond a 20-minute start-up period.

*     All outdoor burning is prohibited, even in areas where outdoor burning is not permanently banned.

When a burn ban goes to Stage 2:

*     NO burning is allowed in ANY wood-burning fireplaces, wood stoves or fireplace inserts (certified or uncertified) or pellet stoves, unless this is your only adequate source of heat.  Natural gas and propane stoves or inserts ARE allowed.

*     All outdoor burning is prohibited, even in areas where outdoor burning is not permanently banned.

*     If our agency inspectors see any smoke being emitted from a chimney during a Stage 2 burn ban, they can assume a fireplace, wood or pellet stove is in use and a penalty is warranted.

Maybe you’re wondering what “adequate source of heat means.”   Technically, this means the ability to maintain 70 degrees Fahrenheit at a point three feet above the floor in all normally inhabited areas of a dwelling. This is according to WAC 173-433-030 < www.ecy.wa.gov/pubs/wac173433.pdf >. 

To make sure you are among the first to know when burn bans are issued and cancelled, or advised when weather conditions indicate a ban is likely, sign up for e-notification at www.pscleanair.org/signup .

You can also check burn-ban status by calling the Burn Ban InfoLine at 1-800-595-4341.

For more details about the burn ban changes and how we determine when a Stage 1 and Stage 2 burn ban is called, click to www.pscleanair.org/airq/burnban/background.aspx .

To learn about cleaner heating choices, including natural gas and propane stoves that can be used during a burn ban and work during a power outage, click to www.pscleanair.org/CleanHeating .

For tips on cleaner wood-burning techniques to follow when there is not a burn ban, click to www.pscleanair.org/BurningBasics .

To learn about the health impacts from wood smoke, click to www.pscleanair.org/actions/smoke.aspx .

======================================================================

The Puget Sound Clean Air Agency offers e-mail notifications for several interest areas:  Clean Air Action Network (burn bans, Smog Watches); monthly newsletter; burn bans; regulation updates; permit actions; and the Diesel Solutions program.  You can read about each interest area at http://www.pscleanair.org/news/agencynews.aspx.

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I wonder how this report will push owners of commercial space to update their properties to meet “green” requirements?

At a recent CCIM conference that I attended, one of the sessions covered the movement toward Built Green and LEED Certified commercial buildings.  For WA State, we’re in a good position for many companies because the current building codes for our state already meet many of the compliance elements of the LEED certifications. The presenters stated that, on average, it only added anywhere from 3-10% to the cost of construction to go for a LEED certification and the long run prospects for increased sale or leasing of the space covered or made up for this differential.

They also made mention that a large number of companies are putting into their business plans a requirement to “go green” and part of that includes the work environment.  The thought goes that if shopping for a new location, the business will gravitate to the newer, “green” building over the older non-green building.

Well, that’s all well and good, but I couldn’t help but think to myself, if all the businesses are pushing to be in new construction that meets these green or LEED standards, what will happen to the old buildings?  Will they just sit vacant?  Does that foretell a larger problem down the road?  It’s too early to tell, but I don’t see us blowing up all the old inventory just to make room for the new “green” alternatives.  That doesn’t make any sense either.

To read what others have to say about this trend and how it will affect employers and landlords over the next few years, take a look at this article I received this week from my CoStar membership (a commercial property listing site). The study that is cited says that within 3 years landlords who aren’t moving toward the sustainability movement will be getting hurt in their wallets.

This applies not only to commercial buildings that house businesses, but for those that house residential condos. The first Silver LEED certified condo building in Seattle was the 5th & Madison building. At a recent interview held by a marketing firm, hired by Vulcan, questions were asked whether or not LEED certification was important to buyers.

If you’re a commercial property owner, it would be wise to start looking at ways you can upgrade or update your property to meet the demand for sustainability.  Heck, have you seen the recent IBM ads talking about energy consumption?  Sure, the greenwashing does still have to do with money (profits), but you can be profitable and “green” too, can’t you?  Doesn’t helping a company be more profitable help them decide to choose cleaner options over more negatively impacting the environment?  If the message of green can go that high up the business food chain, it’s going to trickle down to the smaller players too.

And, if your property can help reduce a company’s legal liabilities for worker health issues which in turn helps productivity at the business, and provide a positive marketing message when selling or leasing the property, can it be all that bad?

You tell me… I’m open to hearing what you’re doing….

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How well do you know what is happening to your vacation property when you’re not there?

This article from REALTOR.com Magazine is a bit disturbing when you read that people who owned vacation properties were coming to their abodes and finding strangers living in the houses.  It seems a supposed real estate agent (yet to hear if it was verified) and his assistant were renting out people’s places without their knowledge utilizing the well known Craigslist to advertise the openings.  I’m wondering if the agent was the guy who sold the properties to these owners to begin with and this is perhaps how someone knew for certain that these were only part-time homes for the owners.

A lot of people buy 2nd homes but don’t always have a method of checking in on their place while they are away.  Case in point, a good way to put in a monitor came from Eric Aasness (one of our co-contributers) who has some cabins out on Hood Canal that he ended up having to put remote cameras on when he and his wife noticed that some of their wine and food was going missing.  Seems they had an errant plumber on their hands – they dubbed him “the hot tub bandit.”

Perhaps remote property management – even if a stepped down version of what rental property management people handle – is a line of business someone could take up and do well in markets where lots of 2nd homes exist?  Especially if there is no rental pool or short term rental aspect to handle.

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Landlord class you should not miss through Rental Housing Association

As an associate member of RHA, I get a chance to meet a lot of really great local professionals. One of them is Chris Benis, a local attorney who I have much regard and respect for in the Seattle area.  He is teaching an upcoming class for RHA that anyone who is a landlord should consider attending to bone up on issues that could impact them down the road.  You never know when a difficult tenant situation could arise, and the best plan is to have tools and information on your side when it happens.  Info on the upcoming class is noted below.   If you are considering getting into the landlord arena, this and many other RHA classes are items you should check out!

Advanced Washington State Tenant Landlord Law
By: Chris Benis, Real Estate Attorney and RHA Legal Counsel
Thursday, August 21, 2008Location
RHA Conference Room
529 Warren Ave N
Seattle, WA 98109

Time
3:00pm – 6:00pmCost
$45 for members without clock hours
$60 for members with clock hours


RSVP by Wednesday, August 20, 2008

Building on our Washington State Landlord Tenant Law class, we look into the non- run of the mill situations that arise during tenancies.  We discuss concepts such as retaliation and how to defend against discrimination cases.  Consideration is paid to dealing with special situations such as tenant deaths, roommate changes, apartment relocations, etc….  This class is directed to answering all your questions. Register for thie event online… 

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