Apartment Insurance and the Positive Signs for Portland’s Apartment Market

Apartment Insurance Costs and the Positive Signs for Portland’s Apartment Market

HFO Senior Broker Lee Fehrenbacher and Partner Greg Frick discuss the challenges and trends in Portland’s multifamily market. And, they note a significant increase in insurance costs for older buildings, with premiums reaching up to $4,000 per unit per year. These increases have led to budgeting for higher insurance or renovations. In contrast, there are positive signs for the rental market, with a potential tightening of supply. The market has recently experienced a plateau in sales values, with prices returning to 2015 levels. They emphasize the importance of understanding insurance coverage, managing expenses, and planning for long-term investment strategies. Your HFO advisor can help. Watch more HFO Multifamily Marketwatch videos and subscribe here.