Coronavirus (COVID-19) HUB

While we continue to add milestone news links to this page, we invite you to see the Industry Links tab for curated Apartment Industry updates by national and regional multifamily associations.

Any links not working? Please notify aaron@hfore.com.

June 3, 2020, Landlord Times: Handling Apartment Maintenance Issues During a Pandemic

June 3, 2020, Landlord Times: How the Strain From the Pandemic has Affected our Management Business

June 2, 2020, Multi-Housing News: Landlords Sue Over Eviction Moratoriums

June 1, 2020, Seattle Times: King County Applies to Reopen as Modified Phase 1

May 27, 2020, Rental Housing Journal: Coronavirus Causes Biggest Annual Rent-Growth Slowdown in at Least 5 Years

May 24, 2020, Seattle Times: More Than Half of Washington Counties Approved for Phase 2 Reopening

May 18, 2020, OPB: Oregon Made $8.5 Million Available to Pay Rent, Here's How to Get It

May 12, 2020, Democrats Include $100 Billion for Rental Assistance, $75 Billion for Mortgages in Relief Proposal

May 4, 2020, Renters Can Call 2-1-1 to Apply for Rental Relief and Direct Payments to Landlords

May 2, 2020, Oregon Governor Extends Emergency to July 6th

April 23, 2020, Oregon Legislature Approves $8.5 Million in Rental Payments for Qualified Renters

April 22, 2020, National Multifamily Housing Council Finds 95% Rents Paid by April 19

April 22, 2020, Daily Journal of Commerce: Multifamily owners reassess their positions

April 21, 2020, The Oregonian: How could Oregon reopen amid coronavirus?

April 21, 2020, Portland Makes $1 Million available for households for food, rent, utilities, and medical expenses beginning 10 am Monday, April 27 ($250 limit per household)

April 20, 2020, Rental Housing Journal: Landlords Ask Governor to Refuse Forgiveness of Rent, Mortgages

April 16, 2020, Inslee Expands Statewide Moratorium on Evictions and Freezes Rent Hikes in Washington

April 15, 2020, The Oregonian: Vast Majority of Portland Tenants Paid April Rent

April 13, 2020, Portland Mercury: Multnomah County to Adopt Statewide Eviction Moratorium Rules

April 13, 2020, Willamette Week: Oregon, Washington, California Form Pact to Jointly Reopen States

April 10, 2020, OPB: Data Show Majority of Oregon Renters Paid April Rent

April 9, 2020, Fed Includes CMBS in Additional Relief Measures

April 8, 2020, NMHC: Apartment Rent Payments Dropped 12% on Rents Due April 5th

April 7, 2020, GlobeSt.Com: Multifamily Waits for Forbearance

April 6, 2020, OPB: Could Rent Amnesty Work in Oregon? Landlords, Experts are Skeptical

April 6, 2020, Portland Tribune: Multnomah County May get $0 From the U.S. $2 Trillion Stimulus Package

April 6, 2020, HFO-TV: The multifamily lending environment during COVID-19 with Tim Steele of AMF Capital

April 6, 2020, Multifamily NW Link to Recent Oregon Media Coverage [Continuously Updated]

April 5, 2020, The Oregonian - Portland Area Renters, Landlords Brace for Uncertainty Amid Coronavirus

April 3, 2020, Multifamily NW Apartment Report - includes exclusive COVID-19 Update

April 2, 2020, Portland Business Journal - OpEd: $350 billion paycheck protection loans help pay the rent [Requires subscription]

April 2, 2020, Portland Mercury - Portland's Small-Scale Landlords Brace for Delayed Rent Payments

March 31, 2020, Citylab - The Problem with a Coronavirus Rent Strike

March 31, 2020, Seattle Times stories

March 30, 2020, Citylab - Heading Off a Coronavirus Housing Crisis

March 29, 2020, The Oregonian - Rental Assistance Must be a Top Priority for the State

March 27, 2020 - Oregon Daily Journal of Commerce
Temporary Stoppage in Washington Rattling Contractors

March 24, 2020 - Seattle Times
Construction Industry's Workers Divided Over Staying on the Job During Coronavirus Shutdown

March 23, 2020 - Seattle Times
What Washington Governor Inslee's Stay at Home Order Does and Doesn't Restrict

Receive the latest news updates in a daily news summary. Visit The Northwest Apartment Investor Blog and sign up to receive new posts by email.

Tune in Mondays to the HFO Multifamily Marketwatch Podcast for the latest summaries of Multifamily news for owners and investors in Oregon and Washington. Available for subscription on all major podcast outlets.

Q: Does Governor Inslee's March 25th Clarifying Order Include Multifamily Management Companies?

The Washington Association of Realtors has confirmed with the governor's office that property management services for single and multi-family residential buildings (including apartment buildings) are within the scope of Governor Inslee’s March 28 residential Real Estate services memo. This means that residential single and multi-family property management, including working with tenants, can occur subject to the requirements of the memo. Residential property managers must strictly comply with the requirements of the memo, which means that (1) in-person meetings with tenants are prohibited except when necessary to view a property or sign necessary documents; (2) any in-person viewing must be by appointment and limited to no more than two people on-site; and (3) social distancing requirements apply to those two on-site persons. Property managers must perform any service remotely whenever possible.

Q: Are Lenders Granting Forbearance to Multifamily Owners?

An article published April 7, 2020 on GlobeSt.Com, indicates that while Fannie Mae and Freddie Mac have announced forbearance measures, private-label commercial mortgage-backed securities are not generally offering broad relief.

Additional lending updates are provided in our recent interview with Tim Steele of AMF Capital.

Q: What's the most effective way to control the spread of COVID-19 in my apartment community?

The best way to control the spread in your community aside from social distancing, is to increase cleaning in common areas, and to have vacated units and shared areas treated by a professional. Information is available here and also in this HFO-TV interview with the biohazard experts at J.R. Johnson.

Q: Will Oregon and Washington be Providing Rent Assistance?

April 15th Update

Oregon
Oregon's special joint committee on COVID-19 issued a bi-partisan list of 15 recommendations for handling the crisis. Unfortunately, before the legislature convenes a special session to implement any of those recommendations, it is awaiting information from the federal government on how much money Oregon will receive and whether there are spending restrictions. Here's one of the top recommendations from that document:

Proposal #2
While we await the federal stimulus package, we must do everything possible to help Oregonians stay at home without fear. This strategy leverages existing programs and delivery mechanisms through OHCS to get rental assistance out to those who need it, ensuring that landlords who work in good faith with their tenants on payment plans will have a partner through the state.

We also know that homeowners need support in a time of this crisis. By leveraging OHCS’ HHP program, the state can and must support those who are unable to pay their mortgage due to the COVID-19 crisis.

A. Rent Assistance – a) Increase access to residential rental assistance through Emergency Housing Assistance (EHA) through CAPs.Allocate $__ million.

B. Mortgage Assistance – a) Increase access to mortgage assistance through the Hardest Hit Program. Allocate $__million.

C. Duration – Start with support for the first 90-days (April/May/June)

Washington

While Governor Inslee has stopped forced evictions for nonpayment of rent through April 18, our research doesn't find any plan in Washington State at this time to increase housing assistance. See the page, Washington State Department of Financial Institutions web page Financial Resources for Washington Residents Impacted by COVID-19.

See also this document: Washington State Resources for Housing Providers (updated 4/2/2020).

HFO Quote

HFO does a great job on the web and email keeping owners posted on the whole political scene.

Richard R., Palm Desert, CA
HFO’s insight, knowledge of the property purchased was extremely valuable. It was a complicated 1031 exchange and the communication was spot on. I have already referred HFO to others.

Don O., Hillsboro, OR
HFO is a very well run brokerage and goes above and beyond in providing information to investors. I really like their roundtables, market updates and podcasts.

Rachel S., Menlo Park, CA
I get calls from other brokers, but I like the fact that HFO is not high pressure. I also enjoy watching HFO-TV.

Dan D., Portland, OR
Working with HFO is an enjoyable experience. They are awesome.

Eric D., Portland, OR
I like that HFO focuses solely on multifamily and does it really well. I like the blog and appreciate HFO-TV. HFO has the experience and focus to get me the best multifamily deal. I wouldn't use anyone else.

Kenny G., West Linn, OR
I have brokers calling me all the time. Greg Frick is the only one I’ve talked with who left me feeling smarter after the conversation. I’ve become a loyal client of HFO.

John E., Portland, OR
I am such a fan of HFO. HFO is night and day better than the firm we used before and I am 100% loyal to them.

S. Cozzo, San Jose, CA
My listing was in a smaller market and HFO did a great job of finding buyers. They also did an excellent job handling all the backroom financials and documents.

Lee S. Keizer, OR
HFO doesn't lead sellers into unrealistic expectations of pricing. They are exceptional and advocate for both buyers and sellers' interest.

Doug R., Reno, NV
HFO is a very dynamic company with a true team approach and talented staff.

Brad D., Portland, OR
HFO did a great job – they are well connected. I got quality advice from Rob and Cody that wasn’t self-serving.

Dennis C., Spokane Valley, WA
For the tenth year in a row, HFO Investment Real Estate is one of Portland's top philanthropic corporations. (2019)

The Portland Business Journal
HFO has solid communications and presentation materials. Their marketing materials are the best in the industry.

T. Griffith, Portland, OR
HFO is professional, knowledgeable and honest. They get it done.

Michael K., San Francisco, CA
Since 2006, HFO has consistently been recognized by CoStar as one of Portland's top Commercial Real Estate Brokerage firms based on transaction volume.

CoStar Group
We had an excellent experience working with HFO – from beginning to end.

David G., Portland, OR
HFO sets itself apart as a firm that has agents with the honesty and integrity to be trusted, close in a timely fashion and meet the needs of both buyer and seller.

Andrew F., Salem, OR
HFO really knows the Portland area and will be able to find the right deal for you.

David P., Hong Kong

Coronavirus (COVID-19) HUB

Q: Does Governor Inslee's March 25th Clarifying Order Include Multifamily Management Companies?

Q: Are Lenders Granting Forbearance to Multifamily Owners?

Q: What's the most effective way to control the spread of COVID-19 in my apartment community?

Q: Will Oregon and Washington be Providing Rent Assistance?

HFO Quote

HFO does a great job on the web and email keeping owners posted on the whole political scene.

HFO’s insight, knowledge of the property purchased was extremely valuable. It was a complicated 1031 exchange and the communication was spot on. I have already referred HFO to others.

HFO is a very well run brokerage and goes above and beyond in providing information to investors. I really like their roundtables, market updates and podcasts.

I get calls from other brokers, but I like the fact that HFO is not high pressure. I also enjoy watching HFO-TV.

Working with HFO is an enjoyable experience. They are awesome.

I like that HFO focuses solely on multifamily and does it really well. I like the blog and appreciate HFO-TV. HFO has the experience and focus to get me the best multifamily deal. I wouldn't use anyone else.

I have brokers calling me all the time. Greg Frick is the only one I’ve talked with who left me feeling smarter after the conversation. I’ve become a loyal client of HFO.

I am such a fan of HFO. HFO is night and day better than the firm we used before and I am 100% loyal to them.

My listing was in a smaller market and HFO did a great job of finding buyers. They also did an excellent job handling all the backroom financials and documents.

HFO doesn't lead sellers into unrealistic expectations of pricing. They are exceptional and advocate for both buyers and sellers' interest.

HFO is a very dynamic company with a true team approach and talented staff.

HFO did a great job – they are well connected. I got quality advice from Rob and Cody that wasn’t self-serving.

For the tenth year in a row, HFO Investment Real Estate is one of Portland's top philanthropic corporations. (2019)

HFO has solid communications and presentation materials. Their marketing materials are the best in the industry.

HFO is professional, knowledgeable and honest. They get it done.

Since 2006, HFO has consistently been recognized by CoStar as one of Portland's top Commercial Real Estate Brokerage firms based on transaction volume.

We had an excellent experience working with HFO – from beginning to end.

HFO sets itself apart as a firm that has agents with the honesty and integrity to be trusted, close in a timely fashion and meet the needs of both buyer and seller.

HFO really knows the Portland area and will be able to find the right deal for you.