Portland Eliminates Residential Rental Exemption Beginning Tax Year 2012

Portland Eliminates Residential Rental Exemption Beginning Tax Year 2012

Beginning with tax year 2012, the City of Portland Business License Law will no longer grant an exemption to individuals whose only business activity is renting or leasing less than ten (10) residential real property dwelling units. There is no change to the $50,000 gross receipts exemption. Therefore, any individual who is a lessor of residential units within the City of Portland may still be exempt from paying the City of Portland Business License Tax if the gross receipts from all business activities are less than $50,000.

At this time, there has been no change to the Multnomah County Business Income Tax Law. Multnomah County still exempts individuals whose sole business activity is exclusively limited to the renting or leasing of residential real property dwelling units provided that the beneficial owner rents or leases less than ten (10) total units, regardless of whether the units are located inside or outside of the County.

Reference: portlandonline.com

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TMG Sponsors The Columbian's Economic Forecast Breakfast

TMG Sponsors The Columbian's Economic Forecast Breakfast

We can’t predict the future but we can make our best guesses based on knowledge, experience, and a passion for making things happen. The 2013 Economic Forecast Breakfast, held on January 24th at the Vancouver Hilton in Downtown Vancouver, offered a panel of two regional economists, Thomas Potiowsky and Randall Pozdena, local businessman, Scott Keeney, President of nLight , and moderated by Betsy Henning, President of AHA Marketing. Approximately 450 regional business and civic leaders listened to the Keynote panel's views on Clark County's current economic state as well as its future prospects in the areas of trade, transportation and job growth. The two themes that emerged were the need for local businesses to take advantage of Clark County's high quality public education system and its built-in networking opportunities that help businesses leverage resources to grow. Following the breakfast, a dozen distinguished local business leaders and analysts offered their thoughts on where the county and its business sectors are headed in the year ahead.

Each panelist set out to present opportunities and possibilities as we move ever so slowly into recovery from our long economic downturn. If there’s a common theme from the local experts, it’s that we can expect more of the same this year: modest job growth, a slight drop in unemployment, and more opportunity in housing and other sectors as pent-up demand finally starts to shake out. But it’s also a time of caution for lenders, consumers, and merchants - no one is rushing into risky ventures in their personal or business finances that push too far on the risk scale. Yet risk is what moves our economy. Each session offered the suggestion that county leaders take more risks in attracting start-up businesses, and encouragement for entrepreneurs who are not afraid to risk everything to build a great product or service company.


The Columbian Business News Department
www.columbian.com

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The Best and Worst Rent Growth Markets of 2012

 

Rents for new apartment leases crept up 3 percent nationwide last year, according to MPF Research.

The usual suspects, including San Francisco and New York, topped the list of rent growth leaders, leaving no room for surprises, says Greg Willett, MPF's vice president of research and analysis.
“It’s the strong fundamentals markets,” he said. “They’re all getting solid employment growth.”
San Francisco continues to lead the pack, followed by the other two Bay Area markets, San Jose and Oakland.

 “It’s a place that’s chronically undersupplied, a very tight market,” he said.
The number of apartments under construction at the end of 2012 rose to 224,000 units across the nation’s 100 largest metros, according to a RealPage news release.
Areas like Nashville and Denver were able to take a spot on the list due to having strong overall economies and allowing job growth and household creation to fill in the spots where people moved on to purchase homes.

“Nashville is one where you do have some active construction and some deliveries going on,” he said. “It remains healthy, but it bounces back and forth from quarter to quarter.”
Detroit, West Palm Beach and Orange County fell just below the top 10 with prices rising between 3.7 and 4.1 percent in those areas.

Virginia Beach/Norfolk, New Orleans and Riverside/San Bernardino fell to the bottom of the pack with growth under 1 percent.

Willett believes this could be attributed to how these specific areas are still struggling to bounce back from the recession’s economic downturn.

Las Vegas came in last with a negative figure.

“The economy is also struggling in Vegas and they are just so overstocked in total housing,” he said.

Top Ten Best Rent Growth Markets
1	San Francisco	8.0%
2	San Jose	7.7%
3	Oakland	7.1%
4	Denver-Boulder	5.9%
5	(tie) Nashville	5.1%
6	(tie) New York	5.1%
7	Houston	4.8%
8	Charlotte	4.6%
9	Portland	4.4%
10	Seattle-Tacoma	4.3%

Top Ten Worst Markets for Rent Growth
1	Las Vegas	-1.7%
2	Virginia Beach/Norfolk	0.3%
3	New Orleans	0.8%
4	Riverside/San Bernardino	0.8%
5	Atlanta	1.1%
6	Indianapolis	1.3%
7	Hartford	1.4%
8	Providence	1.4%
9	Sacramento	1.4%
10	Washington, DC	1.4%

Reference: MFE Rents

 

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Staying warm in your apartment this winter!

If you live in an apartment, there are still simple ways you can stay warm. It’s even more important if you live in an older building where the quaint architectural features that add the charm also bring the chill.

Let’s stay warm this winter:

1. Tape over leaky cracks along the edges of windows. (I use clear packaging tape.) Check to make sure it won’t hurt the paint, but I haven’t found it to be a problem.
2. Roll up a blanket or towel and place it under doors or windows to block drafts.
3. Put on a sweater.
4. Insulate the windows by hanging a clear vinyl shower curtain behind the drapes. We did this in one room with three exposed walls, and it really helped to stabilize the temperature.
5. Bake something.
6. Close air vents to unused spaces.
7. If you have a fireplace, make sure the damper is closed. (Speaking from experience here.)
8. Keep closet and cabinet doors closed (except for cabinets with pipes during a freeze warning).
9. Buy a programmable thermostat — you can take it with you when you move.
10. A humidifier causes the air to feel warmer.
11. Cuddle up under quilts.
12. Use a space heater, carefully.
13. Put an electric blanket on your bed.
14. Drink something hot.
15. Switch the ceiling fans to turn in reverse.
16. Cozy up with a hot water bottle.
17. Apply weather stripping to doors or windows (easy and cheap).
18. Soak in a hot bath.
19. Wear wooly socks.

Reference: Small Notebook

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Waterfront Condo for rent Portland OR

PREMIER COLUMBIA RIVERFRONT CONDO W/ EXCELLENT RIVER VIEW

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707 N. Hayden Island Drive #410, Portland, OR 97217

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This deluxe Hayden Island Condo is a gorgeous find and has the best view in the building with a direct view of Mount St. Helens as well as the Columbia River! You will love the exquisite hardwood floors in the entry and the kitchen as well as the look of the crown molding throughout the entire floor plan. Plush, tan wall to wall carpet graces the living area, halls and bedrooms, while the recessed lighting in the living room creates a warm welcoming feeling when entertaining company. The kitchen features all stainless steel appliances and spacious stone counters. The large laundry room comes with washer/dryer and a washing basin. The unbelievable extra large master suite is 12x17 sq. ft while the master bathroom features a walk in shower, additional jetted tub and huge walk in closet! Access the slate patio that is shared among the master and the dining area. The 2nd bedroom is a large size as well at 10x13 sq. ft and is on the opposite side of the layout as well as the large 12x9 bonus room and extra storage. The view from the large patio overlooks the French garden and as mentioned before, the Columbia River with a stunning view at night and during the winter season when the decorated holiday boats pass by! The building in which this condo is located features many community areas including a library and workout center. The trail fronting the river and this property is a great fully paved running and walking trail. Take a tour of the property today and call it home! JF/AH

By applying for this unit you acknowledge that you have read, understand, and accept the Rental Criteria. Click on this link (or copy into your browser) https://www.tmgnorthwest.com/forms/disclaimer.php?st=or Additionally, applications submitted without payment will not be processed until payment is received. A property is NOT reserved until the deposit to hold has been received.

Square feet: 2,100

Amenities

• Area: Hayden Island
• Type: Condo
• Style: Ranch
• Year Built: 2008
• Floors: Carpet & Hardwood
• Fireplace: Gas
• Dining Room: Area
• Bonus Room: Large
• Parking: Assigned Parking
• Garage Opener: 2
• Laundry: W/D Included

• Heat: Gas Forced Air
• Air Conditioning: Yes
• Range
• Refrigerator
• Dishwasher
• Microwave
• Paid Utilities: Garbage & Lawncare
• Lease Term: 15 Months
• Deposit: $2100
• Other Terms: Non Smoking & Shown by Apt Only & CC&Rs & OSP

Rental Terms

Rent: $2,295.00

Security Deposit: $2,100.00

Available Now!

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Map of 707 N. Hayden Island Drive #410, Portland, OR 97217

Contact Us

TMG Property Management Services NW
(503) 858-1226 or (800) 678-6199
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