“Hear from Housing Providers” is a new recurring series where we sit down with current RHA members to hear from them directly on what housing means to them, what inspired them to enter the rental housing industry, and why they joined the RHA. Our first installment in the series features Ned Payne, a 10-year RHA member who takes a hands-on approach to managing his properties, caring for his tenants, and speaking out against ill-conceived policies that threaten to further limit the rental housing supply.
Ned Payne has been an RHA member for 10+ years, and in that time, his motivation to provide quality rental housing has only grown. Originally from Bangor, Ned moved to Portland 12 years ago. After experiencing the uncertainty that the 2008 financial crisis had on the stock market, coupled with the lack of control, he looked to put his limited savings into a less volatile place he believed in - the City of Portland. Without any experience or handiness, he decided to test the waters of real estate, buying his first property - a four-unit on Portland’s East End.
What really sparked his career transition to providing housing was a burgeoning interest in repair and rehabilitation, and the ability to see the impact of a day’s effort in real-time. “When working on my first building, I realized that I found the hands-on element incredibly rewarding. I was able to see the improvements I was making - just by adding a new light or painting a wall, it can completely transform a space and make it feel more like home,” Ned explains.
Today, Ned owns 125 rental units in Portland, housing over 200 people. Along with the regular maintenance and care that comes along with any building, the nature of Ned’s portfolio of 100–120-year-old Portland buildings means added costs and complexity for their upkeep. Despite all of this, Ned works to make thoughtful economical decisions that allow his properties to remain affordable for a variety of income levels.
“I want to provide safe, quality housing,” Ned says. “Whenever I’m maintaining a building, I’m investing in it. My aim is to improve the property and provide a real and lasting home for someone that can remain there for many years.”
This commitment to doing the best he can for his properties and tenants prompted Ned to join the RHA. “I realized that a local organization would provide me with an opportunity to connect with others in this industry and learn and grow from them. My day-to-day interactions were focused on serving the immediate needs of my tenants and properties. Most rental housing providers don’t sit in a large office setting with colleagues. I was missing that interaction and collaboration with peers,” Ned says. “Our membership events allow us to learn from each other, and we all have something in common. Having in-person discussions on topics that are happening locally is, in my opinion, the most valuable benefit of RHA membership.”
Active on both the RHA PR and Advocacy committees, and Chair of the “Enough is Enough” campaign, Ned has recently been focusing his collaborative efforts and energy on the upcoming November election to fight back against the proposed rent control measures that threaten to put rental housing providers out of business in Portland andreduce the supply of rental housing.
“As someone who knows what it takes to create and invest in safe, quality rental housing, I’m concerned that the radical policy proposed in Question C, combined with the current high demand for housing, rising costs and inflation, will serve only to make it more difficult for small business owners like myself to continue to invest in the local rental housing stock and do what we know best – provide rental housing. Ultimately, this doesn’t protect tenants, it hurt tenants. We need to incentivize building more housing. Rent control does the opposite,” Ned explains.
When he’s not advocating for rental housing, chatting with his tenants, or renovating one of his properties, Ned can be found coaching youth basketball and spending time with his wife and her two boys.
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