The Savvy Investor’s Top 3
Here’s what apartment investors in Eastern Washington need to know this month.
EFFORTS TO CAP RENT HIKES FAIL IN OLYMPIA
Earlier this month, a bill to cap rent hikes and require six months’ notice of certain rent increases failed to pass the state House of Representatives, meaning lawmakers are unlikely to pass either proposal this year.
WOULD YOU PAY $1,000 FOR A CONVERTED MOTEL ROOM? MICRO-APARTMENTS COME TO TRI-CITIES
Fortify Holdings Inc. introduced itself to the Tri-Cities in 2021 when they began a $38.1 million motel buying spree that netted 800 rooms at six local properties. Nearly two years after purchasing the properties, the first tenants have begun moving into these transformed micro-apartments.
STATE OF THE MARKET WITH WINDERMERE CHIEF ECONOMIST, MATTHEW GARDNER
This month our team held our 10th Annual Spring Investor Forum, hosting a presentation by Matthew Gardner, Chief Economist for Windermere Real Estate. The 35-minute presentation (View Slideshow Here) was followed by a tableside chat discussing regional economic fundamentals, projections for near term and interest rates, and investment capitalization rates.