RealShare Apartment Conference: "No Double-Dip Recession!"
 Noting 2010's "impressive performance" in resident retention - particularly when new lease turnover is very high - industry leaders at October's RealShare Apartment Conference in LA agreed despite slow economic and job growth, the economy shouldn't have a double dip. Doug Culkin, president of the NAA, expects steady economic, job and financing progress. 2010 has been the best year for young adult hiring since 1984, meaning increasing household formations. Culkin declared a period of rapid recovery for the apartment sector, with rents rising up to 4.5% in 2011.
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Portland - City of Success
 Apartment occupancy rates in Portland - up 3.4% annually - are at their highest level in three years . Rents, which bounced all over the place during 2009, rose 1-2% during each of the past three quarters. With occupancy (96.1%) now at its pre-recession level, MPF Research advises to watch rents continue making up lost ground over the next couple of quarters.
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"California's major problem is a lack of confidence."
- Tom Bannon
CEO, California Apartment Association
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Mark of Excellence 2010
 The San Diego County Apartment Association has announced the winners of the 2010 Mark of Excellence Awards, recognizing the best of the best within our industry. Sunrise Management set the standard for others to follow this year, boasting a slate of 15 award winners. Among our accomplishments were two First Place awards, as well as multiple winners in several other categories!
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HUD Says "No Smoking"
 HUD recently issued a notice encouraging smoke-free policies for affordable housing properties. The notice discusses ways to implement smoke-free policies by updating House Rules, and is meant to demonstrate HUD's commitment to protecting the health of residents.
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Phoenix Stretches Its Wings
In Phoenix, over 10,000 units were absorbed since 2009. Q3 occupancy is up 2.2%, rents are up 1.5%, and hiring turned positive for the first time in years. The east side is particularly strong.
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A MUST Attend Event!
On 12/9, IREM (San Diego) will host their Economic Forecast Breakfast - The New Economics of Real Estate: Do They Work for San Diego? Economist Lynn Reaser will help set the tone of San Diego real estate market for the coming year.
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Who Is Sunrise Management?
Currently managing almost 10,000 units in California, Arizona, and Portland, OR, Sunrise Management is committed to excellence in all that we do, each and every day.
Since 1978, our day-to-day goals have remained the same: To Consistently Provide Spectacular Customer Service, to be on the cutting edge of technology and innovative marketing, and to provide the vision needed to unerringly achieve our clients' real estate investment goals.
Sunrise is an IREM Accredited Management Organization®. Our team includes a highly-trained staff of CERTIFIED PROPERTY MANAGERS® (CPM®) and ACCREDITED RESIDENTIAL MANAGERS® (ARM®), the industry's most respected credential for residential site managers.
For information on how to make Sunrise Management the key to your success, contact Principal Tina West at 858-751-1767. |
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