LYN AYERS, CCRA President
from the October, 2018 CCRA news
Summer has passed into history. I am sure you will agree it has been event-filled. Many worthwhile events were held and many donations were made by our members, notable was the large donation to Habitat for Humanity. We donated a record amount to their annual Raising the Roof breakfast fund raiser. As a result CCRA has been recognized as a major sponsor. Thanks to all who contributed! Let’s keep it up. Roger & Patty completed the September newsletter, Kris Cable is updating our advertisers, and more.
However there are a few other challenges that did not get resolved. We continue to search for a permanent newsletter editor, a webmaster, and someone to advise on a new phone service.
I cannot over-emphasize the importance of finding a qualified newsletter editor. The situation is such that if an editor cannot be found willing to discount his/her normal rates, we will face one of two options.
1) Offer an on-line only newsletter or
2) Offer a dual-priced membership. Members could select a printed newsletter for a higher price or choose to receive an online-only newsletter. The printed-cost membership would be increased to cover the cost of printing and mailing.
The Board would welcome your comments on this subject. Are there other ideas that we have missed?
As if these challenges are not enough, more changes in advance of the 2019 Legislative session are being discussed. We are not yet sure what the primary focus of the tenant unions will be. Rest assured the results of whatever is proposed would increase costs & complicate being a landlord. Affordable housing seems to be a less realistic goal.
The market is actually beginning to soften, both for homes and rents. According to one report I read Portland real estate prices dropped more than 1% last month. Inventories of homes for sale are increasing. Bidding up prices is almost a thing of the past. Expect houses to remain on the market longer before selling. We aren’t seeing rents decreasing yet. However for new apartments in east Clark County landlords are often offering incentives for a year’s lease. Examples are free rent for a couple weeks or reduced deposits.
I want to emphasize this does not mean it is time to run for the hills and “batten down the hatches.” The market is finally becoming more stable and normal. We will need to work harder to attract good tenants. Our units will need to be updated, painted, and super cleaned. We need to stay smart and informed—and that’s what CCRA is here for.
Take pride in being a member of a volunteer organization dedicated to supporting our community through education, mentoring, and setting examples of good, effective landlording.
Our dinner speaker this month will be Attorney Erin C. Lambley with Landerholm, P.S. She will be addressing the important topic of how different types of corporations are impacted by the new tax law passed earlier this year. Which would be preferable for our rentals, an LLC, an S-Corp, or a C-Corp? Join us as I am sure we all want to know the best ways to save on our taxes.