Bay State Apartment Owner

FOURTH QUARTER 2014

HOUSING

A CHANGING

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FOURTH QUARTER 2014

HOUSING

A CHANGING

Bay State Apartment Owner is the official publication of the Rental Housing Association. ©2014 The Warren Group Inc. and the Rental Housing Association. All rights reserved. The Warren Group is a trademark of The Warren Group Inc. No part of this publication may be reproduced in any manner without the express written consent of the publisher.

A division of the

Greater Boston Real Estate Board

One Center Plaza, Mezzanine Level Boston, MA 02108 Phone: 617-423-8700 Fax: 617-338-2600

RHA Officers President: President Elect: Vice-President: Secretary: Executive Director:

Joseph E. McPhee Jr. Gilbert Winn Sarah Mathewson Mark R. Epker John E. Lafferty

Published By

THE WARREN GROUP Creative / Production / Advertising www.thewarrengroup.com 280 Summer Street Boston, MA 02210 Phone: 617-428-5100 Fax: 617-428-5118 custompubs@thewarrengroup.com

CONTENTS

President’s Message

04

Executive Director’s Message

06

Photo Gallery

07 14

A Pleasure, a Privilege and a Successful Year Registration for the NAA Education Conference & Expo Is Now Open

RHA Calendar FEATURES

How to House a Changing City

08

Property Owners Bring Airbnb Back to Earth

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Fourth Quarter 2014 • BAY STATE APARTMENT OWNER

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President’s Message

BY JOSEPH E. MCPHEE JR.

A Pleasure, a Privilege and a Successful Year

A

s has become the custom, the outgoing RHA president often uses this space to look back at the year and reflect on the successes we have enjoyed.

As we go to press with this issue, we are barely into the month of November, so as you read this, myriad events, including Landlord Tenant Law, NextGen Leadership Panel, the installation of Tom Beaton as 2015 NAA chairman and the 2014 RHA President’s Awards Reception are in this writer’s future, but in our readers’ past.

I do not think I am going too far out on a limb to “forecast” that each of these events are successful.

I say this with confidence based

on what we have already accomplished this year. Perhaps most rewarding are the successes we have enjoyed with RHA’s events in 2014.

The Fall Conference and Exposition on Oct. 22 delivered a sold-out tradeshow eight weeks prior to the event. The number of attendees set a new record. Almost 900 people, attendees and exhibitors, were on hand for the event.

I have similar news about our Affiliate Signature event. On Aug. 16, 13 of our leading affiliate members hosted a cookout, which preceded a match between the New England Revolution and Portland Timbers at Gillette stadium. The affiliates provided a wide range of food and beverages, a band, face painting and games for the kids, so the only expense for the attendee was the cost of the ticket to the match. More than 680 attendees

participated in the event.

While those numbers are impressive, we also enjoyed success on a smaller scale. The designation courses for the National Leasing Professional and Certified Apartment Manager, along with Massachusetts Fair Housing and the Spring Marketing program, all had revenue exceeding budget.

Similarly, the spring and fall golf events, Bruins outing and NextGen holiday party also showed positive revenue variances from budget.

I would be remiss if I failed to touch on some of the other areas of positive movement at RHA. From a membership standpoint, I am very happy that we have been able to attract representatives from Maloney Properties, Trinity Management and Urban Edge to the board this year. RHA and GBREB staff continue to work diligently as they migrate from an old to a new database, one which will enhance the membership experience. We have broadened the depth of this publication with feature articles on non-traditional topics, including homelessness prevention programs, industry career training programs for laid-off, unemployed and under-employed adults, and programs sheltering homeless veterans and providing housing for low-wage workers.

All in all, I think we can agree the year to date certainly bodes well for the success of RHA over the two months that intervene between the writing of the column and its reading. To be part of an organization that celebrated its 125th anniversary in 2014 is an inspiring experience one that has resulted in our continuing success from year to year.

As 2014 president, it has been a both a privilege and pleasure to serve. n

BayState Apartment Owner Salsbury Industries

Runs in: Winter/Summer

Joseph F. McPhee is director of operations for Boston Land Company and 2014 president of the Rental Housing Association.

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Fourth Quarter 2014

Executive Director’s Message

BY JOHN E. LAFFERTY

Registration for the NAA Education Conference & Expo Is Now Open

C

onnect with thousands of multifamily professionals at the 2015 National Apartment Association Education Conference and Exposition, June 24–27, 2015, at the Mandalay Bay Resort and Convention Center, Las Vegas. Lunches, snack breaks and ample lounges provide you with the time and atmosphere to build your network and exchange businessboosting ideas in an informal setting.

Larger events, such as receptions, the Thursday Night Party and the NAA Awards Celebration Break-

fast, provide even more dynamic networking opportunities. And beyond the Conference, NAA’s social media communities connect colleagues and suppliers yearround.

At the 2015 NAA Education Conference & Exposition, learning is everywhere, from the inspirational keynote speakers to our 2015 Game Changers, a suite of six world-class experts who will share their experience, knowledge and revolutionary spirit to inspire your work strategy. Game Changers include Ken Schmidt, former director of communications strategy, Harley-Davidson Motor Company; Robin Chase, founder and former CEO, Zipcar, Buzzcar and GoLoco; Richard

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BAY STATE APARTMENT OWNER

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Fourth Quarter 2014

Karlgaard, author and publisher of Forbes Magazine; Luke Williams, author; Jim Knight, former director of training, Hard Rock Café; and Olivia Fox Cabane, charisma and leadership expert.

You’ll also go in-depth and explore new solutions and innovative ideas in more than 40 breakout sessions geared toward all levels and interests of multifamily housing professionals.

Learning continues inside the exhibit hall, where the best and the brightest exhibitors will share their industry knowledge and innovation to help you grow your business. Innovation is everywhere you look. The expansive tradeshow floor creates an unmatched opportunity to grow your business. Compare a comprehensive array of products and services, and preview what’s new to improve your service and your profits.

Early rate conference registration is now open. Individual, full conference member registrations are priced at just $725 through Feb. 2, 2015. Member group full conference registrations start as low as $525 (100+ registrants) through Feb. 2, 2015. Prices increase $100 across the board on Feb. 3, 2015, and additional increases in April and June for late registrations.

Be sure to book your housing as soon as you have registered, as rooms go quickly.

For attendee and exhibitor information, schedule, speakers and travel information, visit the conference website at educonf.naahq.org. n John Lafferty is the executive director of the Rental Housing Association.

g r e a t e r

b o s t o n

r e a l

e s t a t e

b o a r d

RENTAL HOUSING ASSOCIATION 2014 | OCTOBER 22 2014 EDUCATION AND RENTALEVENTS HOUSING ASSOCIATION

EXPO Multifamily Conference

HYNES CONVENTION CENTER, BOSTON

14

Bruins Outing

13-16 CAMT

23

Breakfast Series

21

5 28

NextGEN Kickoff Fair Housing

11

NextGEN Career Panel

Red Sox Outing

Spring Marketing Program

Fall Golf

NextGen Night Out

Maintenance Mania

Spring Golf Business Exchange for NAAPAC 22

5, 12, 19, 26

Certified Apartment Manager (CAM)

2, 9, 16, 23 10

18-21 NAA Education Conference, Denver

CAM

Breakfast Series

15-18 Certificate for Maintenance Technicians (CAMT) 22-24 National Apartment Leasing Professional (NALP)

Breakfast Series

10

Breakfast Series Affiliate Signature Event

RHA Multi-Family Conference Massachusetts Landlord Tenant Law

13-15 NAA Assembly of Delegates, Boston NextGen Holiday Party

RHA President's Awards

C L I C K H E R E F O R M O R E I N F O R M AT I O N

Fourth Quarter 2014 • BAY STATE APARTMENT OWNER

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How to

HOUSE A CHANGING

CITY

By Anna Sims In October, Boston Mayor Martin Walsh released “Housing a Changing City: Boston 2030,” a $21 billion plan to build 53,000 new housing units in the city by 2030. At just more than 130 pages, the report is dense. So dense, in fact, that Michael Roberts, senior vice president of development at AvalonBay Communities Inc., who provided input for the plan, called it “one of the more comprehensive housing plans that has been produced for a major city” – an impressive feat for a Walsh administration that has yet to complete its first year in office.

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o help draw up the plan, the administration created a transition committee on housing and solicited opinions from groups including nonprofits, private developers and government regulators across the city. But equally paramount to the development of Walsh’s housing plan were numbers compiled by the Metropolitan Area Planning Council (MAPC), detailing the current population and housing situation in Boston along with projections for the city’s future, said Sheila Dillon, Boston’s chief of housing and director of the department of neighborhood development.

Boston’s population is projected to swell to 709,000 residents by 2030, according to the MAPC data, compared with around 646,000 people in 2013, according to U.S. Census Bureau. The number may not seem like a huge jump, but when you consider that Boston’s population hasn’t reached that level since the late 1950s, coupled with the fact that the average household size has been shrinking for decades, the facts are pretty clear: “There’s a serious housing problem in Boston,” Dillon said.

One of the more surprising aspects of the MAPC data was not the rate at which the city was growing, but rather which age group was growing the most, Dillon said. Boston may be known as a college town, but the city’s 65-and-older population is actually its fastest-growing age group, with the data projecting that by 2030 one in five Boston households will be headed by someone over the age 65.

Thus, the plan calls for creating 5,000 new units of housing for senior citizens. Of those, 1,500 units will be new, low-income senior rental housing. The remaining 3,500 units will be market-rate housing for senior citizens (2,500 of these will be affordable to middle-income seniors), giving seniors options to downsize their living quarters as they age – and thereby freeing up some housing for Boston’s increasingly threatened middle class.

It’s no secret that middle-income housing is becoming increasingly hard to find in the city. Still, the facts in the report are jarring: A household earning $80,000, considered the midpoint of the middle-class range, can only afford the bottom 23 percent of the homeownership market in Boston and is priced out of seven of Boston’s 15 neighborhoods.

For this reason, the bulk of new units in the housing plan – 44,000, to be exact – have been designated for Boston’s workforce, defined as those ages 25 to 64, and 20,000 of those units will be built for middle-class residents, defined as those with incomes between $50,000 and

$125,000.

It’s within these 44,000 workforce units that Walsh’s plan proposes solutions to issues of affordable housing (increasing the rate of production of affordable housing in Boston by 50 percent, as well as requesting a regional effort to increase affordable housing stock) and student housing (working with universities to create 16,000 new undergraduate student dorm beds, and housing for 2,500 additional graduate students, which would free up 5,000 units currently occupied by students for the middle class).

An additional 4,000 market-rate units to create a vacancy rate and help stabilize the market brings the plan’s housing total to 53,000.

Housing the Middle Class But it is the plan’s decided attention to creating 22,000 middle-class homes that is most exciting to Greg Vasil, CEO of the Greater Boston Real Estate Board, who served on the mayor’s transition team and helped draft the plan. “I think that really this is the first time we’ve seen middle-class housing stressed,” Vasil said.

Wanting to build middle-class housing is one thing, but actually getting those units built is quite another. The high cost of land is one of the biggest obstacles in creating any housing in Boston, particularly that for the middle class, a fact acknowledged by developers and politicians alike.

So how do you make it financially feasible to build middleclass housing in one of the most expensive cities in the country?

“We’re looking for areas right around transit that may be underutilized, and we could envision as new residential neighborhoods,” Dillon said. “We don’t want to displace jobs, but if the jobs are no longer there, we need a new plan for them and to look at them in a different way.”

The city plans to announce some of the “areas of growth” in the coming months, Dillon said. Vasil suggested Allston/ Brighton and Mission Hill as transit-oriented neighborhoods where land values are less and therefore lend themselves better to middle-income housing.

Another solution is to utilize the nearly 300 city-owned lots across Boston. The report proposes giving these parcels to nonprofit and small builders at “no or little cost in exchange for affordability” and developing “a set of preapproved designs that can receive fast-track building code review and bypass extensive design review.”

The report suggests reforming the permitting process for Fourth Quarter 2014 • BAY STATE APARTMENT OWNER

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Boston Mayor Martin J. Walsh, Rep. Michael Capuano, Rep. Loretta Sanchez, Aaron Gornstein, undersecretary for housing and community development, and others join activist Maria Sanchez in breaking ground for the Roxbury Crossing Senior Development, which will include 40 units of affordable senior housing.

smaller all housing projects, which it says are “critical” to the city’s efforts to build middle-class housing. According to Roberts, smaller projects are often just as difficult to develop as larger projects, if not more so, making the city’s efforts to “streamline those types of deals … a very important part of the whole housing picture.” Other outlined changes to the city’s permitting process include creating a universal online application portal where developers can “track the status of all permits associated with a project, along with identified timeframes for regulatory decisions on each permit,” and improving the overall transparency of the permitting procedure.

The administration is also in the process of reviewing its inclusionary zoning policy, Dillon said. The current policy requires developers to either include affordable units in their projects or pay into a fund for affordable housing elsewhere in the city. “There’s been talk about the inclusionary zoning program and having more flexibility there on a sliding scale,” Vasil said. “So when you’re in more of a middleclass production type neighborhood, your fees for the affordable end would not be as high as they would be if you were building luxury units downtown.”

Advocating for Density Above all, the report is looking to increase the city’s housing density, particularly in areas with good access to public transportation. Advocating density can sometimes be a tough sell to the public, acknowledged State Rep. Kevin Honan, chair of the Joint Committee on Housing, who served on the mayor’s transition committee. But Boston is running out of land and with it, other options for expanding, Vasil said. Air rights deals have been Boston’s answer to the lack of available land in recent years, he said, noting projects like Columbus Center, a deal over the Massachusetts Turnpike and, more recently, projects in Fenway Park.

But these deals are “very expensive,” Vasil said, leaving the city in want of a cheaper solution.

“We’re so used to a certain level of open space, but maybe as we have to grow and look at our world, if we’re going to continue to be economically successful, maybe we have to cut down a little bit of that open space and increase the height of some of our buildings,” Vasil said.

Honan, who serves the Allston/Brighton neighborhood, has witnessed firsthand how developers and neighborhoods 10

BAY STATE APARTMENT OWNER

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Fourth Quarter 2014

Boston Mayor Martin J. Walsh and other City officials meet with representatives from Boston’s colleges and universities at the Parkman House.

can work together to increase density. Currently, a developer is proposing 100 units of housing for veterans at Warren Street and Commonwealth Avenue.

“When you’re proposing a large development, which will bring density to the community, you need to make sure the other city agencies are completely involved as well, and bring all the resources available they have. You have to work at these developments … You need to build support for these in the host community,” Honan said.

In the past, developers seeking to increase density in the Allston/Brighton neighborhood appeased the public by paying exactions, or linkage fees, to the community, Honan said. He believes this is same kind of thing the city will need to do to advance its new housing plan, noting that in Boston, the biggest objections to adding density often involve traffic, parking and shadows.

“Mayor Walsh is going to have to take to the bully pulpit and fight for more housing throughout the city. It’s essential,” Honan said. “Our local resource is our brainpower, it’s our people. There’s no natural resources here that we’re sending around. It’s the financial industry. It’s the hospitals, the universities, the brain power. So, people need housing.”

Dillon echoed Honan’s stance that fixing Boston’s housing problems is inextricably linked to ensuring its economic success.

“The new [Walsh] administration is working very hard to attract businesses to come to Boston, and we have to be able to have a housing market that supports their employees and makes it easy for them to attract skilled employees,” Dillon said.

For Vasil, solving Boston’s housing problem, particularly for the middle class, is vital to the city’s culture.

“When you lose the middle class, whether you’re in a city or town, you lose balance. You lose a lot of reality in a community,” Vasil said.

And if the city is not able to get these new units built?

“I think what we [would] see is more and more an example of the ‘haves’ and the ‘have nots,’” Vasil said. “One of the things people love about Boston is that ‘Boston flavor.’ [If we don’t create middle class housing], we will go from baked beans to filet mignon. I don’t think that’s where we want to go. That’s not our identity. That’s not Boston’s spirit.” n

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Property Owners Bring

Airbnb Back to Earth Hidden Problems for Apartment Owners and Renters Alike

By Christina P. O’Neill

A

irbnb, which matches up travelers with residential hosts for short-term stays, has caught on in many desirable destinations around the globe, causing consternation on the part of hotel and rental property owners in those locales. New York state has declared Airbnb illegal under a 2012 state law prohibiting illegal hotels. In other destinations, local and state regulators and rental property owners, are saying: Not so fast.

Airbnb short-term rentals often violate the terms of a tenant’s lease, which either prohibits subletting or requires advance approval by the landlord. Rental property managers first hear about an Airbnb agreement when they receive complaints from a unit’s neighboring tenants about a constant inflow/outflow of unknown people.

In most states, hotels and bed-and-breakfast operations must submit to routine inspections, comply with fire codes and ADA requirements, and often, have commercial renters’ insurance policy rather than personal policies. Airbnb hosts are currently not subject to these requirements.

Renters may be unaware that their personal rent12

BAY STATE APARTMENT OWNER

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Fourth Quarter 2014

ers’ insurance often does not cover an occupant that has not been approved by the property manager. Commercial policy costs can be double or triple the cost of a personal policy, often with more limited coverage, particularly regarding theft of valuables such as jewelry.

Then there’s the issue of taxes. Zoning laws in Massachusetts prohibit unregistered hotels, but Massachusetts is currently one of five states that do not impose a lodging tax on Airbnb rentals. That tilts the playing field against the hospitality industry. Under current state law, Airbnb hosts merely have to report their rental income on a Form 1099 or a 1042.

Defending against Misleading Advice Kenneth A. Krems, partner at Shaevel & Krems LLP, reports that his firm has had about six Airbnb cases so far. In all of them, the landlord discovered that the tenant was advertising on Airbnb in violation of lease terms. In all except one case, a warning letter was sufficient to cause the tenant to stop advertising. In the one case where the warning did not work, the property manager discovered that the property had been relisted, the tenant having relied upon advice from Airbnb that it

“Owners and landlords want to be in control. They don’t want tenants to make a profit off their apartments, and don’t want people who haven’t gone through the application process to live in their units.”

– Kenneth Krems, partner, Shaevel & Krems LLP

was permissible to advertise again. The judge cautioned the tenant against relying on Airbnb for such advice. The tenant did not show up for trial and the law firm won a default judgment for the property owner. The tenant was moved out.

Krems says Airbnb apartment cases have occurred mostly in the high-end of $2,000 and up rentals which are the most attractive to prospective Airbnb guests.

“Owners and landlords want to be in control,” he said.

“They don’t want tenants to make a profit off their apartments, and don’t want people who haven’t gone through the application process to live in their units.” Also, the way tenants advertise their Airbnb rentals in social media is often not the way the landlord wants to present the property – particularly when the property is factually misrepresented by the tenant, he said.

Preventing Housing from Becoming a Hotel Sarah Mathewson, vice president of property operations at the Boston office of AvalonBay Communities Inc., says that Airbnb hasn’t caused a significant impact in the company’s apartment complexes in Massachusetts, which are largely suburban; the company has

more often seen it in markets outside Massachusetts, and is keeping a close watch.

From a business perspective, Airbnb is more of an incursion to the hotel business than rental properties, she said. But rental properties in highly desirable metro locales that serve as destination points for out of state travelers are clear targets.

“Many of the apartment owners tend to have a subletting clause, either to not allow [subletting] at all, or require landlords to approve them,” she said. Renters at AvalonBay have to undergo credit checks, and sometimes criminal background checks, unlike Airbnb guests.

“We’re zoned for housing, so the short-term piece triggers [the imposition of a] hotel tax,” she said. With 30 days being the crossover to a fulltime lease for hotel rental, “We want to know who’s living there. Residents in the building don’t want people who haven’t been vetted having access to the building.”

The advantages of social media is that it cuts both ways, Mathewson said. A property owner can check Airbnb and see if any of their properties are listed. “I ran a check [recently] and none of my properties came up,” she said. n Fourth Quarter 2014 • BAY STATE APARTMENT OWNER

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RENTAL HOUSING ASSOCIATION 2015 EDUCTATION AND EVENTS January 15, 2015 Boston Bruins TD Garden, Boston

April 2, 2015 Maintenance Mania® The Lantana, Randolph, Mass.

February 17–19, 2015 NAA Student Housing Conference Aria Resort, Las Vegas

June 24–27, 2015 NAA Education Conference & Exposition Mandalay Bay, Las Vegas

March 14–18, 2015 NAA Capitol Conference JW Marriott, Washington D.C.

September 29, 2015 RHA Fall Conference and Exposition Hynes Convention Center, Boston For additional information, visit www.gbreb.com/rha

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15

CONNECT. LEARN. GROW. GAME CHANGERS ELEVATE THE 2015 NAA EDUCATION CONFERENCE & EXPOSITION KEN SCHMIDT Former Director of Communications Strategy, Harley-Davidson

LUKE WILLIAMS Author of Disrupt: Think the Unthinkable to Spark Transformation in Your Business

Make Some Noise: Open the Throttle and Dominate Your Marketplace

Using Innovation Leadership to Transform Organizational Processes and Behaviors

Wednesday, June 24, 4:30 p.m. – 5:30 p.m.

Thursday, June 25, 11:30 a.m. – 12:30 p.m.

ROBIN CHASE Founder and Former CEO, Zipcar, Buzzcar and GoLoco

JIM KNIGHT Former Director of Training, Hard Rock Cafe

Entrepreneurship, Innovation and Technology

Corporate Culture, Branding and Customer Service

Thursday, June 25, 9 a.m. – 10 a.m.

Friday, June 26, 9 a.m. – 10 a.m.

RICHARD KARLGAARD Publisher Forbes Magazine, Business Journalist

OLIVIA FOX CABANE Charisma and Leadership Expert

Economic Growth Forecast for the U.S.; Trends for Stocks, Municipal Bonds and Real Estate

The Science of Influence, Trust and Persuasion (based on behavioral science)

Thursday, June 25, 10:15 a.m. – 11:15 a.m.

Friday, June 26, 2:15 p.m. – 3:15 p.m.

For a complete schedule and to register, visit www.naahq.org/educonf. Register early and save!

June 24–27, 2015

Mandalay Bay Resort & Convention Center | Las Vegas