Archives November 2022

Are you planning on investing in rental property? Like most investors, you’re probably interested in learning more about landlord-tenant law in Oregon for 2022-2023.

This is understandable because the rental market has changed in the last two years and landlords have fewer rights than before.

Thankfully, we’ve compiled an updated resource on landlord rights in Oregon so that you know what to expect before investing in a rental property here.

Landlord-Tenant Law 2022-2023

Under Oregon law, landlords must disclose specific information to tenants (usually in the lease or rental agreement). The list of required disclosures is long and includes information on topics such as:

• who is the owner and manager of the property, and who is authorized to receive notices such as service of process (Or. Rev. Stat. Ann. § 90.305)
• pending legal actions (Or. Rev. Stat. Ann. § 90.310)
• responsibility for paying utility bills (Or. Rev. Stat. Ann. § 90.315)
• recycling (Or. Rev. Stat. Ann. § 90.318)
• smoking policies (Or. Rev. Stat. Ann. § 90.220)
• carbon monoxide alarms (Or. Rev. Stat. Ann. §§ 90.316, 90.317)
• smoke alarms and detectors (Or. Rev. Stat. Ann. § 479.270)
• flood zones (Or. Rev. Stat. Ann. § 90.228)
• renters’ insurance (Or. Rev. Stat. Ann. § 90.367), and
• payments for homeowner assessments (Or. Rev. Stat. Ann. § 90.302)

Federal law might require additional landlord disclosures. Nolo’s chart of State Rules on Required Landlord Disclosures contains a complete list of each state’s landlord disclosure statutes

Oregon landlords can require tenants to pay a security deposit. Under Oregon law, a last month’s rent deposit is considered to be a security deposit. Landlords must provide tenants with a receipt when they receive the deposit. Written rental agreements must include the amount of the security deposit. A security deposit can’t be increased within the first year of the tenancy. Landlords have 31 days after the tenant delivers possession to return the deposit and provide an accounting of any amount applied towards rent or damages. See Oregon Revised Statute section 90.300 for all the rules regarding security deposits.

Small Claims Lawsuits in Oregon

Tenants can sue landlords in small claims court for the return of their deposit and other damages, up to a dollar amount of $10,000. (Or. Rev. Stat. Ann. § 46.405.)

Oregon Tenant Fees

Oregon landlords may not charge nonrefundable fees (Or. Rev. Stat. Ann. § 90.302). Oregon landlords may only charge fees for specified events as they arise. For example, landlords may charge fees for acts such as:

• paying rent late
• paying utility bills late
• bouncing checks
• failure to clean up garbage and trash, including pet waste
• violating parking and vehicle rules
• violating smoking rules
• damaging property, and
• tampering with smoke detectors.

Complete information about fees Oregon landlords can charge is found in Oregon Revised Statute section 90.302.

Oregon Rent Rules

Oregon has a statewide rent control law that limits the amount of rent increases, bars landlords from raising rent more than once in any 12-month period, and requires landlords to give tenants proper notice before raising rent.

During any 12-month period, landlords cannot raise the rent more than 7% plus the consumer price index above the existing rent—no matter how long the tenancy. Every September 30, the Oregon Office of Economic Analysis will publish the maximum annual rent increase percentage for the following year.

For week-to-week tenancies, landlords can raise the rent after giving seven days’ written notice. For all other tenancies, landlords cannot raise rent within the first year of a tenancy. After the first year of a tenancy, landlords must give 90 days’ written notice before raising the rent.

Landlords who illegally increase rent must pay tenants an amount equal to three months’ rent, plus any damages the tenants suffered from the increase (such as interest on money they borrowed to cover rent). (Or. Rev. Stat. Ann. § 90.323.)

Tenant Rights to Withhold Rent in Oregon

When landlords fail to comply with a term of the lease or rental agreement, or fail to maintain the premises in a habitable condition, tenants may notify their landlord of the breach and give a 30-day notice to terminate if the landlord doesn’t fix the condition within a certain amount of time. (Or. Rev. Stat. Ann. § 90.360.) Tenants also may withhold rent for some minor defects that can be reasonably repaired for not more than $300—but must follow the statute’s rules regarding notice (Or. Rev. Stat. Ann. § 90.368).

Oregon Termination and Eviction Rules

The rules on how and when landlords can terminate depend on the type of tenancy. Oregon’s laws address week-to-week, month-to-month, and fixed-term tenancies (as well as tenancies located within a landlord’s primary residence). To learn the rules that apply to your tenancy, review the full text of Oregon Revised Statute section 90.427.

Month-to-Month Tenancies

Landlords may terminate a tenancy without cause for month-to-month tenants, but only during the first year of occupancy. After that, landlords must have a reason, or “just cause,” as enumerated in the law (such as demolishing the building, moving immediate family members into the unit, or the tenant’s violation of a lease term).

Tenants With Leases

Tenants with a one-year (or shorter) lease may not have their tenancies terminated during the first year of occupancy unless the tenant has failed to pay the rent or violated another material term of the tenancy (such as having a pet in violation of a no-pet rule). Landlords may decide to not renew or extend a one-year tenant’s (or shorter) lease by giving a 30-day “termination” notice prior to the lease’s expiration date. If the landlord does not terminate and the tenant stays, the tenant has become a month-to-month tenant, but one who has the protections of “just cause” eviction rules on account of the tenant’s occupancy for more than one year (see above).

Landlord Access to Rental Property, Tenant Protection Against Retaliation, and Other State Laws in Oregon

Several other landlord-tenant laws in Oregon affect both property owners and renters, including:

• restrictions on landlord’s right to access rental property (Oregon landlords must provide 24 hours’ notice of entry in non-emergency situations) (Or. Rev. Stat. Ann. § 90.322)
• tenant protections against landlord retaliation for tenant exercising a legal right, such as complaining about an unsafe living condition (Or. Rev. Stat. Ann. § 90.385)
• special protections for tenants who are victims of domestic violence (Or. Rev. Stat. Ann. §§ 90.449, 90.453, 90.456, and 90.459)
• procedures for how landlords must handle abandoned property left behind by tenants (Or. Rev. Stat. Ann. §§ 90.425, 105.165) , and
• fair housing rights (discrimination is also prohibited by federal and, often, local law—see the Housing Discrimination section of the Nolo site for details).

More

Contact Rent Portland Homes – Professionals

At Rent Portland Homes – Professionals, our team specializes in Oregon property management. This means you can count on us to be on top of the latest landlord-tenant laws so you don’t have to.

If you’re ready to invest in a rental property in Beaverton, Portland or the surrounding area, but you don’t want to manage that property yourself, contact us today by calling (503) 447-7735 or click here to connect with us online.

As a landlord, one of the most important things to have in place if you plan on allowing pets is a pet policy.

The right pet policy can help you get the right tenants who want to live with their pets instead of those who might be less reliable with a pet living under the same roof as them. Here’s what you need to know about landlord pet policies and how they can impact your tenancy agreement before signing on any new tenants.

What is a Pet Policy?

A landlord pet policy is a set of rules that you create to help you determine if you will allow pets in your rental property. These rules can then be included in your rental agreement, letting you know upfront if a prospective tenant has a pet. A good pet policy can help you filter out potential tenants who don’t have pets, letting you focus on those who have a more serious commitment to their animals and helping you avoid potential issues later.

A landlord pet policy can be as simple as “no pets allowed” or it can be as detailed as specifying how many pets you will allow, what types of animals are allowed, and what kind of care and upkeep the pets will require. A landlord pet policy can also be a list of questions you ask potential tenants to help you determine if they have a pet.

This can be especially helpful if you don’t want to outright ask if they have a pet, perhaps because you’re worried about discrimination, or you have a quiet building where barking dogs might be disruptive.

Instead, you can ask questions designed to rule out potential tenants who have pets and encourage those who don’t to apply to live in your rental property. A landlord pet policy can be designed to work for you on both levels, letting you create rules that help you find the right tenants while also helping you avoid unnecessary hassles with tenants who have pets.

Why Are Landlord Pet Policies Important?

Landlord pet policies are important because they can help you filter out prospective tenants who don’t have pets and determine whether your rental property is pet friendly. While many landlords who rent to tenants with pets will simply require a security deposit for the damage their pets might cause, a pet policy can help you decide how many pets you want to allow and what kinds of animals.

It can also help you avoid discrimination suits since you can simply ask questions about pets without outright saying that you don’t want tenants who own pets. A pet policy can also help you avoid having to evict a tenant who has pets. If you have a strict no-pets policy but a tenant breaks the rules, you may have to evict the tenant even if they are otherwise a good fit for your rental property. If you can be more flexible with a pet policy, you may be able to avoid this situation.

A landlord pet policy can also let you charge less for your rental units since you can describe your rental property as a more attractive place to live with an allowance for pets. If you don’t charge less, you may have to deal with complaints about pets, which can be time-consuming to address without a pet policy in place.

What to Include in Your Landlord Pet Policy

There are a few things you should include in your landlord’s pet policy to keep it fair and help you manage your rental property. First, you should specify what kinds of animals are allowed as tenants. This can help you avoid an expensive and messy eviction if a tenant breaks the rules and has a pet that isn’t allowed.

You may want to consider restricting certain types of animals and setting limits on the number of pets allowed per household. You might also want to include a provision about responsible pet ownership. This can help you avoid problems with tenants who aren’t prepared to take care of their pets properly. You may also want to include a rule about keeping pets confined, particularly if you have a quiet building.

This can help you avoid problems with barking dogs and other disruptions that can disrupt your other tenants. You may also want to include a rule about keeping pets out of common areas, such as putting a rule in the lease that pets are not allowed in the laundry room or on the front porch.

Questions to Ask Prospective Tenants Before Including a Pet Clause

There are a few questions you should ask prospective tenants if you want to craft a landlord pet policy before deciding on a pet clause in your rental agreement. First, you may want to ask if the tenant has any pets.

You may also want to ask how many pets the tenant has, what type of animals they are, and how the tenant cares for them. You may want to ask if the pets are declawed or if the tenant has a dog that is trained not to bark. Finally, you may want to ask if the tenant has ever had any issues with animals in the past, such as complaints from neighbors about noise or damage.

These questions can help you select tenants who are more likely to follow the rules of your pet policy and less likely to have problems with their pets. They can also help you avoid potential discrimination suits since you can simply ask questions about pets instead of outright saying that you don’t want tenants who own pets.

When You Should Require a Security Deposit for Pets

You can usually require a security deposit from tenants who have pets, but there are some rules you should follow if you want to avoid legal trouble. You should make sure that you clearly state the rules about pet ownership in your rental agreement, including any rules about the number of pets allowed and where the pets are allowed to be.

You should also make sure that you are consistent about collecting the deposit from all tenants who have pets. You should also make sure that you have a pet addendum when accepting the security deposit from pet-owning tenants. This should clarify the amount of the deposit and the damage that the tenant is covering, as well as the deductions that will be applied if there is damage to the rental property.

When You Should Not Accept Pets as Tenants

There are some situations where you should not accept pets as tenants. If you have had problems with pets in your rental properties in the past, you should make sure that you only accept tenants without pets.

This is especially important if you have had vermin or noise issues with previous pets. You should also not accept pet-owning tenants if your building is not pet-friendly. You may also want to consider avoiding pet-owning tenants if you live in a very quiet building since even the most well-behaved pets can disrupt your neighbors. It is also a good idea to reject pet-owning tenants if you don’t want to deal with cleaning up after their animals.

Conclusion

A landlord pet policy can help you choose the right tenants, whether you want to be stricter about pet ownership or more lenient. It can also help you charge less for your rental units while attracting more tenants while helping you avoid the costs and problems inherent in evicting tenants who break the rules.

When designing your pet policy, make sure that you clearly state any rules about the number, type, and care of pets as well as where they are allowed. You can also ask questions designed to help you weed out pet-owning tenants while generating more interest in your rental property.

Contact Us

At Rent Portland Homes – Professionals, we specialize in property management for single-family and multifamily properties across the PDX area.

Our team saves owners the time, money, and hassle of managing rentals themselves.

To learn more about the services we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.

With the slowdown of home sales in the real estate market, more homeowners are stuck with homes that they thought would sell and they are now considering renting those homes to tenants.

This is to be expected because many homeowners have already moved on to bigger and better properties even though their first homes didn’t sell.

Thankfully, even though the real estate market has slowed, the good news is that homeowners work through this difficult situation by renting out their properties until the real estate market picks up again.

Keep It Simple

You might think that renting your property to tenants is risky and stressful. But if done right, it can be a source of additional income as well to filter out the right tenants without being directly responsible for maintenance and repairs.

You may not want to hear it, but being a landlord isn’t easy. It involves taking on responsibilities that you probably don’t want or expect to deal with. However, with the right preparation and management, you can do so while avoiding some of the risks inherent in renting your home to strangers. With this guide, you’ll learn everything you need to know about renting your home as an investor and what you need to consider before signing on the dotted line.

Find The Right Tenants 

After deciding what type of tenant, you’re looking for, you should do some research on the local rental market.

This will help you to create a profile of the kind of tenant you want to attract and give you a better idea of what your rental property will be worth in the open market. – Where to look for information. The best way to research the rental market in your area is to get your hands dirty. This means looking at rental listings on websites like Craigslist, Zillow, and Trulia.

You should also attend local real estate investor clubs, visit rental property management companies, and talk to property managers in your area. – What to look for. When researching the rental market, you should pay special attention to the following factors: – The average rent in your area. – The average vacancy rates. – The average length of time that a unit is on the market. – The average cost of repairs. – The average rental yield in your area.

Step 2: Know Your Rights as a Landlord

When renting out your property, you are essentially putting your money into a partnership with your tenants.

But the law doesn’t treat you as a partner—instead, you get almost none of the benefits of a partnership. So, before you even sign a rental contract, you should know what your rights are as a landlord and what your tenants’ rights are as renters. – Liability for injuries and damage. As a landlord, you are liable for injuries that your tenants sustain on your property, and you are responsible for all damage. This applies whether the tenant is at fault or not. If a tenant breaks something, you are responsible for repairing or replacing it. If someone gets hurt on your property, you are responsible for their medical bills. This can lead to lawsuits, fines, and even imprisonment. – Your right to enter the property.

As a landlord, you have the right to enter your property to conduct repairs, inspect the property, and/or show it to prospective buyers. However, you must let your tenants know that you’re coming and provide them with a reasonable amount of time to get their things out of the way. You can’t enter a rental property without a legitimate reason or without the tenant’s consent.

Step 3: Advertise Your Property and Select Tenants

You have done the legwork to find a great tenant and are now ready to start looking for a place to rent. But before you sign a lease, you need to put yourself in your prospective tenant’s shoes. What kinds of questions will they have?

What do they need to know before committing to rent your property? – The right way to advertise your property. The best way to advertise your property is by posting an online listing on a site like Craigslist or Zillow, and then following up with phone calls and emails to interested parties. You should include the following in your listing: – When you’re ready to sign a lease.

When you’re ready to sign a lease, you should meet with your prospective tenants and hammer out all the important details so that everyone is on the same page. You should discuss the following: – Written rental agreement. You should sign a written rental agreement with each tenant. Your rental agreement should include:

Step 4: Set the Right Terms for Your Contract

You’ve found the tenant of your dreams and have signed a rental agreement. But you aren’t quite done yet. You need to make sure that you have everything covered in the rental agreement so that nothing goes wrong, and your tenant is happy.

Security deposit – A security deposit serves two functions: it’s a partial payment of the final rent and its insurance for you (the landlord). A security deposit is a money that you take from a tenant at the beginning of a rental agreement. If your tenant breaks their contract (for example, they don’t pay the rent) then you can keep their security deposit. At the same time, you must deposit 10% of the security deposit in a state-approved escrow account.

The terms of the lease – The terms of the lease are especially important because they set the stage for the relationship between you and your tenant.

Your lease should also include terms for when rent is due, how it should be paid and when it’s considered to be late. This is by far one of the most important parts of your lease because tenants must know that they are expected to pay rent on time each month.

Step 5: After Finding Excellent Tenants

Congratulations! You’ve found wonderful tenants who have agreed to rent your property and you have signed the lease.

Now it’s time to kick back and relax, right? Nah. You still have a lot of work to do.

Stay in contact – While you don’t want to be a nagging landlord, you want to stay in contact with your tenants so that you can look out for their best interests and vice versa.

Send them a friendly text or email every few months to check in and let them know that you’re available if they need anything.

Be a good landlord – Being a landlord isn’t easy. But it is rewarding when you find good tenants and they treat your property with respect.

Step 6: Hire A Property Manager

If your goal is to keep living your life without the hassle of owning a rental property, then the best decision you can make is to hire a property management company like Rent Portland Homes – Professionals.

Our property management team will save you the time and money of managing your property yourself so you can continue living your life while leaving the property management to us.

To learn more about the property management services we can offer you, contact us today by calling (503) 447-735 or click here to connect with us online.

Real estate investing can be a great way to build wealth over time. When you invest in real estate, you don’t just get a second home that you can visit on the weekends or a beautiful space to throw parties; you also get an asset that can generate cash flow.

If your goal is to build long-term wealth through real estate investing, buying properties that will generate income from rent is essential.

In this article, we’ll explain what it means to buy a property that will earn you rent and give you pointers on where to find properties like these and how much you should pay for them. Let’s dive in!

What Does It Mean to Buy a Property That Will Earn You Rent?

If you buy a property that you can rent out, you’re essentially operating as a landlord. If you’ve ever been a landlord, you know it can be a full-time job, but it’s worth it if you can find the right tenants and charge a fair price for the rent.

And if you’re buying a property that will be rented out and generating your income, you want to make sure to buy a property that will give you a good chance of having great tenants, paying rent reliably on time, and having a low vacancy rate.

How to Find Properties That Earn You Rent

Before you start looking for properties that will earn you rent, you need to have a specific type of property in mind.

If you don’t know what kind of property you’re looking for, you’ll have a much harder time finding the right one. Here are a few things to think about when choosing a property:

Location – This may sound obvious, but it’s one of the most important factors when picking a property to buy.

You want to make sure your property is in a neighborhood that will appeal to tenants.

When picking a neighborhood, consider factors like crime rates, local schools, job growth, public transportation, and walkability.

You should also make sure the neighborhood has a below-average vacancy rate.

Property type – You’ll want to choose a tenant-friendly property type, such as a single-family home, a duplex, or an apartment building.

Property condition – You’ll want to make sure the property you buy is in good condition. If repairs need to be made, make sure to factor that into the price you pay for the property.

Real Estate Investing Tips for Finding a Property to Buy that Will Earn You Rent

Start looking for properties that earn you rent sooner rather than later – The earlier you start looking, the more time you’ll have to find the right deal, which will make your investing process easier.

Be open to different neighborhoods – Be sure to look in all different kinds of neighborhoods because you might find a great deal in a neighborhood that isn’t super desirable right now. Be flexible with your budget – You might find a great deal on a property that’s outside your budget. It’s important to be flexible with your budget because you don’t want to pass up a great deal just because it’s out of your price range.

Find a great realtor – A great realtor can help you find properties that earn you rent, walk you through the process of buying a property, and help you get a good price for the property you’re selling. A realtor can be an invaluable resource for any real estate investor.

3 Types of Properties that Will Earn You Cash Flow

When you buy a property that will earn you rent, you want to make sure it’ll give you a steady stream of income over time. If you buy a property that only brings in a few thousand dollars in rent, you may not have enough income to make the investment worth it.

To make sure you buy a property that will earn you cash flow over time, you’ll want to choose a rental property that has a high rental yield, below-average vacancy rates, and low maintenance costs.

These three factors help ensure that your rental property will continue to be a reliable source of income for years to come.

Apartment building – An apartment building is a great property to buy if you want to earn cash flow from the get-go. It’s one of the most expensive properties to buy, but it’s also one of the most reliable sources of income since you’ll have a long-term tenant at one location.

Single-family home – A single-family home is a great property to buy if you want a blend of both long-term and short-term tenants. It generally takes longer to find tenants for a single-family home than for an apartment building, but once you do, the tenants tend to stay for a long time.

Duplex – A duplex is a good choice if you’re looking for a lower-maintenance property and you don’t mind doing some work to keep both halves of the building in good condition. The lower maintenance costs are one of the biggest advantages of buying a duplex, but they also come with the disadvantage of a smaller profit margin compared to a single-family home or apartment building.

Wrapping up

Buying a property that will earn you rent is a great way to start your real estate investing journey. When you buy a property that will earn you rent, you’re buying an asset that will continue to bring in steady income for years to come.

When you’re picking a property to buy, be sure to find one that is in good condition, in a desirable neighborhood, costs less than $350,000, and has a high rental yield. Once you’ve found the right property, make sure to put in the work to make sure it stays in good condition, and you’ll have a reliable source of income for years to come.

Contact Us

At Rent Portland Homes – Professionals, we specialize in local property management for Beaverton and surrounding areas.

Our team has decades of combined property management experience and looks forward to the opportunity of earning your business.

Contact us today for a quote at (503) 447-7735 or click here to connect with us online.