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Investing in real estate can be a lucrative venture, but managing rental properties effectively can be a challenging task. As a property owner, you have two options: hiring a professional property manager or taking on the responsibility of managing your rental property yourself. In this article, we will explore the pros and cons of both approaches, and help you make an informed decision about the best choice for your investment.

Pros and Cons of Hiring a Property Manager

Hiring a property manager can offer numerous advantages for property owners. One of the primary benefits is the expertise and experience they bring to the table. A professional property manager has a deep understanding of the rental market and can help you set the optimal rent for your property. They also have the necessary skills to attract high-quality tenants and conduct thorough background checks. Additionally, a property manager can handle all aspects of property maintenance, including repairs, regular inspections, and emergency situations.

However, it’s important to consider the potential downsides of hiring a property manager. One significant disadvantage is the cost. Property managers typically charge a percentage of the monthly rent or a flat fee, which can eat into your rental income. Another concern is the lack of direct control over your property. When you hire a property manager, you entrust them with the responsibility of making decisions on your behalf. If you prefer to have a hands-on approach and be involved in every aspect of property management, this may not be the best choice for you.

Pros and Cons of Managing Your Rental Property Yourself

Managing your rental property yourself can be a rewarding experience, especially if you enjoy being hands-on and have the time and expertise to handle the various responsibilities. One of the most significant advantages of DIY property management is the potential cost savings. By taking on the tasks yourself, you eliminate the need to pay a property manager’s fees. This can significantly increase your rental income and overall return on investment.

Another advantage of managing your property yourself is the direct control you have over every decision. You can personally screen potential tenants, set your own rental rates, and handle maintenance and repairs as per your preferences. This level of control can be appealing to hands-on property owners who want to be involved in every aspect of property management.

However, self-managing your rental property also comes with its own set of challenges and drawbacks. One major disadvantage is the time and effort required. Managing a rental property can be a demanding task, especially if you have multiple properties or a full-time job. It involves dealing with tenant inquiries, property maintenance, rent collection, lease agreements, and legal issues. Additionally, if you lack experience in property management, you may encounter difficulties in dealing with difficult tenants or resolving disputes.

Factors to Consider When Deciding Between Property Management and DIY

When deciding between property management and DIY, there are several key factors you should carefully consider. Firstly, assess your availability and commitment. Managing a rental property requires a significant time investment, and if you have a busy schedule or other commitments, hiring a property manager may be the more practical choice. On the other hand, if you have the time and willingness to handle the responsibilities, DIY management could be a viable option.

Secondly, evaluate your expertise and experience in property management. If you are new to the real estate industry or lack knowledge in areas such as tenant screening, lease agreements, and property maintenance, hiring a property manager can provide you with the necessary expertise and guidance. However, if you have prior experience or are willing to learn and educate yourself, managing your property yourself may be a viable option.

Another crucial factor to consider is your financial situation. Calculate the potential costs involved in hiring a property manager and compare them to the potential savings of managing your property yourself. If the fees of a property manager outweigh the financial benefits, self-management may be the better choice. However, if you have the financial means and prefer to delegate the responsibilities to a professional, hiring a property manager can provide peace of mind and convenience.

The Importance of Property Management for Investment Properties

Effective property management is crucial for the success of your investment property. Whether you decide to hire a property manager or manage the property yourself, it is essential to recognize the importance of this role. A well-managed property can attract and retain high-quality tenants, maximize rental income, and protect the long-term value of your investment.

One key aspect of property management is tenant screening. A property manager can conduct thorough background checks, verify employment and income, and check references to ensure that you select tenants who are reliable and financially stable. This can significantly reduce the risk of non-payment or property damage caused by irresponsible tenants.

Additionally, property managers can handle all aspects of property maintenance. From responding promptly to repair requests to conducting regular inspections, they ensure that your property remains in good condition. This proactive approach can prevent minor issues from escalating into costly repairs and maintain the overall appeal and value of your property.

How a Property Manager Can Save You Time and Reduce Stress

Managing a rental property can be a time-consuming and stressful endeavor. Hiring a property manager can alleviate much of this burden and provide you with valuable time and peace of mind. A property manager can handle all the day-to-day tasks associated with property management, such as advertising vacancies, conducting showings, and screening potential tenants. They can also take care of rent collection, lease agreement enforcement, and handling tenant inquiries and complaints.

By delegating these responsibilities to a property manager, you can focus on other aspects of your life or invest your time in finding new investment opportunities. Whether you have a full-time job, multiple properties, or simply prefer to have more free time, hiring a property manager can give you the freedom to pursue other interests while still reaping the benefits of owning investment properties.

The Costs of Hiring a Property Manager vs. Managing Your Property Yourself

One crucial aspect to consider when deciding between property management and DIY is the financial implications. Hiring a property manager comes with associated costs, which can impact your overall return on investment. Most property managers charge a percentage of the monthly rent, typically ranging from 8% to 12%, or a flat fee. Additionally, some property managers may charge additional fees for services such as advertising, maintenance, or tenant placement.

On the other hand, managing your property yourself can lead to potential cost savings. By eliminating property management fees, you can retain a larger portion of your rental income. However, it is important to consider the value of your time and effort. Managing a rental property can be a demanding and time-consuming task, and if you have other commitments, the potential savings may not outweigh the benefits of hiring a property manager.

Finding the Right Property Manager for Your Investment Property in Portland

If you decide that hiring a property manager is the right choice for your investment property, it is essential to find the right professional for the job. In Portland, where the rental market is competitive, finding a reliable and experienced property manager is crucial. Here are a few key questions to ask when interviewing potential property managers:

1. How many properties do you currently manage, and what types of properties are they?
2. Can you provide references from current or past clients?
3. What is your approach to tenant screening and selection?
4. How do you handle property maintenance and repairs?
5. What are your fees and what services do they include?

By asking these questions, you can evaluate the property manager’s experience, track record, and suitability for your specific investment property. It is also recommended to inquire about their knowledge of local rental laws and regulations to ensure compliance and avoid potential legal issues.

Conclusion: Making the Right Choice for Your Investment Property

In conclusion, the decision between property management and DIY for your investment property should be based on careful consideration of various factors. Hiring a property manager can provide expertise, save you time, and reduce stress. However, it comes with associated costs and a potential lack of direct control. On the other hand, managing your property yourself can offer cost savings and complete control, but it requires a significant time commitment and expertise.

Evaluate your availability, expertise, and financial situation to determine the best choice for your investment property. Remember that effective property management is vital for the success of your investment, regardless of the chosen approach. Whether you decide to hire a property manager or manage the property yourself, prioritize tenant screening, property maintenance, and ensuring compliance with local laws and regulations.

Contact 4 Rent Local

At 4 Rent Local, we specialize in local property management for the Portland Oregon area. To learn more about the services that we can offer you, contact us today by calling (503) 447-7788 or click here!

As a property owner, one of the most crucial aspects of managing your rental property is finding terrific tenants. The right tenants can make all the difference in ensuring a smooth and profitable rental experience. In this article, I will guide you through the process of tenant targeting and show you how to find and secure high-quality tenants for your rental property.

The Importance of Finding Terrific Tenants for Your Rental Property

Finding terrific tenants for your rental property is an essential task that should not be taken lightly. A good tenant can provide you with a steady stream of rental income, take care of your property, and contribute to a positive rental experience. On the other hand, a bad tenant can result in missed rental payments, property damage, and even legal issues. Therefore, it is crucial to invest time and effort in tenant targeting to ensure that you attract the right individuals for your rental property.

Understanding the Role of a Property Manager in Tenant Targeting

If you are not experienced in property management or do not have the time to handle tenant targeting yourself, hiring a property manager can be a wise decision. A property manager specializes in all aspects of managing rental properties, including tenant targeting. They have the knowledge and expertise to effectively market your property, screen potential tenants, and handle any issues that may arise during the tenancy. By hiring a property manager, you can ensure that you have a professional guiding you through the tenant targeting process.

How to Create an Ideal Tenant Profile for Your Rental Property

Before you begin the tenant targeting process, it is essential to create an ideal tenant profile for your rental property. This profile will serve as a guideline for the type of tenants you want to attract. Consider factors such as income level, credit history, rental history, and any specific requirements you may have. Creating a clear and detailed tenant profile will help you narrow down your target audience and attract tenants who are most likely to meet your criteria.

Once you have established your ideal tenant profile, it’s time to start marketing your rental property to potential tenants.

Effective Marketing Strategies for Attracting Quality Tenants

Marketing your rental property is crucial to attract quality tenants. There are several effective strategies you can employ to maximize your reach and attract the right individuals:

1. Online Listings: List your rental property on popular online platforms such as Zillow, Trulia, or Craigslist. Provide detailed and accurate information about your property, including high-quality photos and a compelling description.
2. Social Media: Utilize social media platforms like Facebook, Instagram, and Twitter to promote your rental property. Share appealing visuals, highlight key features, and engage with potential tenants through comments and messages.
3. Local Advertising: Consider placing ads in local newspapers, community bulletins, or real estate publications. Targeting local audiences can be an effective way to attract tenants who are already familiar with the area.

Remember to showcase the unique selling points of your rental property in all your marketing efforts. Highlight amenities, location advantages, and any special features that set your property apart from others.

Screening and Vetting Potential Tenants

Once you start receiving inquiries from potential tenants, it’s time to screen and vet them thoroughly. This step is crucial to ensure that you choose tenants who are reliable, responsible, and capable of paying rent on time. Here are some essential steps to follow during the screening process:

1. Rental Application: Require all potential tenants to complete a rental application form. The form should include basic personal information, rental history, employment details, and references.
2. Credit and Background Checks: Conduct thorough credit and background checks on each applicant. Look for any red flags such as previous evictions, criminal records, or poor credit history. This information will help you make an informed decision.
3. References: Contact the references provided by the applicants, including previous landlords and employers. Ask relevant questions to get a better understanding of their character, responsibility, and reliability.

By diligently screening potential tenants, you can significantly reduce the risk of renting to individuals who may cause problems in the future.

The Importance of Conducting Thorough Background Checks

When it comes to tenant targeting, conducting thorough background checks is paramount. These checks provide you with valuable insight into the potential tenant’s history, behavior, and reliability. By assessing their background, you can make an informed decision and minimize the risk of renting to problematic individuals. Here are some key aspects to consider during background checks:

1. Criminal Records: Check if the applicant has any criminal records. This information will help you determine if they pose a safety risk to other tenants or the property.
2. Eviction History: Look into the applicant’s eviction history. If they have been evicted in the past, it may indicate a pattern of problematic behavior.
3. Credit History: Assess the applicant’s credit history to gauge their financial responsibility. A poor credit history may indicate a higher risk of missed rental payments.

Remember to comply with all relevant laws and regulations when conducting background checks. It is essential to protect the privacy and rights of potential tenants while ensuring the safety and well-being of your rental property.

Securing Terrific Tenants Through a Comprehensive Rental Application Process

Once you have completed the screening and background checks, it’s time to secure terrific tenants through a comprehensive rental application process. This process involves reviewing the applicants’ information, verifying their qualifications, and making a final decision. Here are some steps to follow during the rental application process:

1. Review Applications: Carefully review all the rental applications you receive. Compare each applicant’s qualifications against your ideal tenant profile.
2. Contact Qualified Applicants: Contact the qualified applicants for further discussion and clarification. This step allows you to gauge their interest, address any concerns, and negotiate lease terms if necessary.
3. Lease Agreement: Once you have selected a tenant, prepare a lease agreement that clearly outlines the terms and conditions of the tenancy. Ensure that both parties have a thorough understanding of their rights and responsibilities.

By following a comprehensive rental application process, you can secure terrific tenants who are a good fit for your rental property.

Building Positive Relationships with Tenants for Long-Term Success

Securing terrific tenants is only the beginning; building positive relationships with them is equally important for long-term success. By fostering a positive landlord-tenant relationship, you can ensure tenant satisfaction, prompt rental payments, and a higher likelihood of lease renewals. Here are some tips for building positive relationships with your tenants:

1. Effective Communication: Maintain open and clear communication with your tenants. Be responsive to their inquiries, address any concerns promptly, and keep them informed about any changes or repairs.
2. Respect Tenant Privacy: Respect your tenants’ privacy and adhere to all relevant privacy laws. Obtain proper consent before entering the rental property for inspections or repairs.
3. Prompt Maintenance and Repairs: Attend to maintenance and repair requests promptly. Regularly inspect the property to identify any potential issues before they become major problems.

By prioritizing tenant satisfaction and fostering a positive relationship, you can create a conducive environment for long-term success in rental property management.

Dealing with Difficult Tenants and Minimizing Rental Property Risks

Despite your best efforts, there may be instances where you encounter difficult tenants. Dealing with such situations can be challenging, but it’s crucial to handle them professionally and minimize any risks to your rental property. Here are some strategies for managing difficult tenants:

1. Open Dialogue: Maintain an open dialogue with the tenant and address any issues or concerns they may have. Try to understand their perspective and find mutually agreeable solutions.
2. Enforce Lease Terms: If a tenant violates the lease terms or causes significant problems, take appropriate action according to the terms outlined in the lease agreement. This may include warnings, fines, or eviction if necessary.
3. Seek Legal Advice: In complex situations, it may be necessary to seek legal advice to protect your rights and minimize risks. Consult with a qualified attorney who specializes in landlord-tenant law.

Remember to document all interactions and maintain a paper trail of any issues or disputes. This documentation will serve as evidence if legal action becomes necessary.

Contact Us

Tenant targeting is a critical aspect of successful property management. By understanding the importance of finding terrific tenants, creating an ideal tenant profile, employing effective marketing strategies, conducting thorough screening, and building positive relationships, you can ensure a smooth and profitable rental experience. Remember that tenant targeting requires time, effort, and attention to detail, but the rewards are well worth it. So, start implementing these strategies today and reap the benefits of having terrific tenants in your rental property.

To learn more about the property management services we can offer you, contact us today by calling (503) 447-7788 or click here to connect with us online.

As an experienced property manager, we understand the importance of having the right team to manage your rental property.

Owning an investment property can be a lucrative investment, but it also requires a significant amount of time and effort to maintain. That’s why we recommend hiring a professional property manager to save you both time and money in the long run.

In this article, we will explain why choosing our rental property management services in Portland (PDX) is the best decision you can make.

Introduction to Rental Property Management

Rental property management is the process of overseeing and maintaining a rental property on behalf of the owner. This includes everything from tenant screening and lease agreements to maintenance and repairs. A professional property manager can help you maximize your investment by ensuring that your property is well-maintained and generating income consistently.

The Importance of Hiring a Professional Property Manager

Hiring a professional property manager can save you a significant amount of time and money in the long run. Property managers are experienced in all aspects of property management and can handle everything from advertising your property to finding tenants, handling maintenance requests, and collecting rent. They also have a network of reliable contractors and vendors to ensure that any repairs or maintenance issues are resolved quickly and efficiently.

Additionally, a property manager can help you avoid costly mistakes by ensuring that your property is in compliance with all the necessary local and state regulations. They can also help you stay up-to-date on market trends and rental rates to ensure that you are charging fair rent and attracting quality tenants.

Why Choosing Our Rental Property Management Services Will Save You Time and Money

At our rental property management company in Portland (PDX), we have over a decade of experience managing investment properties. Our team of experienced property managers is dedicated to providing you with the best possible service and ensuring that your property is well-maintained and generating income consistently.

Our property management services include everything from tenant screening and lease agreements to maintenance and repairs. We understand that your time is valuable, which is why we handle everything from advertising your property to finding tenants, handling maintenance requests, and collecting rent on your behalf.

Our Experience in Managing Investment Properties in Portland (PDX)

We have been managing investment properties in Portland (PDX) for over a decade and have a deep understanding of the local market. We have experience working with all types of properties, from single-family homes to multi-unit apartment buildings. Our team of property managers is dedicated to providing you with the best possible service and ensuring that your property is well-maintained and generating income consistently.

Our Property Management Services and How They Benefit Landlords

Our property management services benefit landlords in many ways. We handle everything from advertising your property to finding tenants, handling maintenance requests, and collecting rent on your behalf. This frees up your time and allows you to focus on other important tasks.

We also provide comprehensive tenant screening services to ensure that you are renting to reliable tenants who will take care of your property and pay rent on time. Our lease agreements are designed to protect your interests and ensure that your tenants understand their responsibilities.

How We Handle Tenant Screening and Lease Agreements

We understand that finding reliable tenants is crucial to the success of your rental property. That’s why we provide comprehensive tenant screening services to ensure that you are renting to reliable tenants who will take care of your property and pay rent on time. Our tenant screening process includes background and credit checks, employment and income verification, and rental history verification.

Our lease agreements are designed to protect your interests and ensure that your tenants understand their responsibilities. We will work with you to create a lease agreement that meets your specific needs and includes all the necessary legal provisions.

Our Approach to Maintenance and Repairs

We understand that maintenance and repairs are an essential part of managing a rental property. That’s why we have a network of reliable contractors and vendors who can handle any maintenance or repair issues that arise. We also perform regular maintenance inspections to identify any potential issues before they become major problems.

Our approach to maintenance and repairs is designed to ensure that your property is well-maintained and in good condition. We handle everything from routine maintenance to emergency repairs, and we keep you informed every step of the way.

Our Competitive Pricing and Transparent Fee Structure

We understand that cost is an important factor when it comes to property management. That’s why we offer competitive pricing and a transparent fee structure. Our fees are based on a percentage of the monthly rent, and there are no hidden fees or charges.

We believe in transparency and will provide you with a clear breakdown of our fees and services before you sign any contracts. We want you to feel confident that you are getting the best possible service at a fair price.

Testimonials from Satisfied Clients

We are proud of the work we do and the relationships we have built with our clients over the years. Here are a few testimonials from satisfied clients:

“Working with this property management company has been a game-changer for me. They have taken care of everything from finding tenants to handling maintenance requests, and I couldn’t be happier with the service I have received.”

“I was hesitant to hire a property manager at first, but after working with this company, I can’t imagine managing my property without them. They have saved me so much time and stress, and I know that my property is in good hands.”

“I have worked with several property management companies in the past, but this one is by far the best. They are responsive, professional, and have helped me maximize my investment in ways that I never thought possible.”

Conclusion and How to Get Started with Our Rental Property Management Services

If you own an investment property in Portland (PDX) and are looking for a professional property manager to help you maximize your investment, look no further than our rental property management services. Our experienced team of property managers is dedicated to providing you with the best possible service and ensuring that your property is well-maintained and generating income consistently.

To get started, simply contact us to schedule a consultation. We will work with you to understand your specific needs and develop a customized property management plan that meets your needs and exceeds your expectations. We look forward to working with you!

Click here for a quote, or call us at (503) 447-7788.

Searching for more information on tenant move out? Moving out of a rental property can be a stressful experience for both landlords and tenants, as there are many different steps that need to be taken to make sure that the process is completed correctly and smoothly.

To make life a little easier for all involved, this comprehensive guide to the tenant move out process outlines all the necessary steps for landlords and tenants to follow, from giving notice to the landlord to returning the keys.

With this guide, landlords and tenants can be sure that they will have all the information they need to make the move out process smooth and hassle-free.

What to Consider Before Tenant Move Out

Before tenants decide to end their tenancy agreements, they should first consider the various factors that may impact their decision. Depending on the terms of a rental agreement, tenants may have a certain amount of time (usually 30-60 days) to terminate their tenancy. If a tenant moves out before the end of the tenancy agreement, they may be required to pay rent until the end of the term or they may be responsible for paying any fees associated with breaking the lease.

Additionally, tenants may also have to pay a penalty fee if they have signed a lease that has a penalty fee for breaking the contract. Before a tenant decides to move out, it is also important for them to consider the amount of time that the move out process will take and the steps that they will need to complete. The tenant move out process may involve scheduling and completing multiple appointments with various contractors, cleaning professionals, and utility providers. The amount of time that the move out process will take will largely depend on the amount of time that tenants must complete each step.

Giving Notice to the Landlord Before Tenant Move Out

Before tenants move out, they must give the appropriate amount of notice to the landlord. The amount of notice that tenants must provide to the landlord will depend on the terms of the tenancy agreement. In some cases, tenants may also be required to provide notice because they signed a lease that requires it. Many tenants assume that they are only required to give 30 days’ notice to the landlord, regardless of what is written in the tenancy agreement.

However, tenants who want to be sure that they are complying with the terms of their tenancy agreement and who want to avoid potential issues with the landlord should provide the amount of notice that is required in their tenancy agreement. As a best practice, tenants should also document all communication with the landlord and keep a copy of the notice and any other related communication in a safe place, such as in a digital file or folder.

Preparing the Property for Move Out

After tenants have decided to move out and have given notice to the landlord, the next step is to prepare the property for move out. This step is important because it will help tenants avoid incurring fees and fines from the landlord and will ensure that the move out process is as easy as possible for tenants. Before preparing the property for move out, tenants should gather all their belongings, such as furniture and appliances, as well as any tools, materials, and cleaning supplies that they will need to complete the move out process. Once tenants have gathered all the necessary belongings and items, they should store them in a safe and secure place. This will help tenants avoid incurring fines from the landlord and will make it easier for them to complete the move out process.

Taking Pictures and Preparing Documentation

Before tenants move out, they should make sure to document the condition of the rental property. This will help tenants avoid incurring fines for damages to the property and will help speed up the landlord’s move out process. A good way to document the condition of the rental property is by taking pictures of all areas of the property. Pictures will help tenants keep track of all necessary documentation, including any stains, dents, and other damages to the property. Tenants can also prepare documentation that includes a detailed list of all belongings and items that they have in the rental property. This will help tenants keep track of all their belongings and will make it easier for them to complete the move out process, since they will already have a list of all items in the rental property.

Cleaning the Rental Property

Once tenants have gathered all their belongings and have prepared the rental property for move out, the next step is to clean the property. The first step in cleaning the rental property is to schedule a cleaning appointment with a cleaning or cleaning service. This will make it easier for tenants to clean the property and will ensure that they do not miss the move out cleaning deadline. After scheduling the cleaning appointment, tenants should start cleaning the property. Cleaning the rental property is an important step in the tenant move out process because it will help tenants avoid incurring fines from the landlord and will make it easier for them to pass the final walkthrough.

Returning the Keys

After tenants have cleaned the rental property, they should make sure to return the keys to the landlord. Before giving the keys to the landlord, tenants should make sure that they have a record of the keys. Tenants should also check the rental property to make sure that they do not leave any keys behind. As a best practice, tenants should return the keys in person and keep a record of when they gave the keys back to the landlord. This will help tenants avoid fines and make it easier for them to pass the final walkthrough.

Final Walkthrough

After tenants have cleaned the rental property and returned the keys, the next step is a final walkthrough of the property. A final walkthrough is an inspection of the rental property by the landlord and tenants. During the final walkthrough, tenants and the landlord will walk through the property and check for any damages or issues with the property. During the final walkthrough, tenants should be sure to point out any issues with the property and keep documentation of any damages they see in the rental property. This will help tenants avoid fines and make it easier for them to complete the move out process.

Security Deposits

If the rental property is covered by a security deposit, tenants have the option of either returning the deposit to the landlord or transferring it to the next tenant. If tenants decide to return the security deposit to the landlord, they should make sure to do so in a timely manner. If tenants decide to transfer the security deposit to the next tenant, they should make sure to document all necessary details, such as the amount of the security deposit, the name and contact information of the next tenant, and the due date for the transfer. This will help tenants avoid fines and make it easier for them to complete the move out process.

Setting Up Final Utilities

After tenants have completed the tenant move out process, they may be responsible for setting up final utilities, such as water and electricity. Before setting up final utilities, tenants should make sure to check with the relevant utility provider to find out what is required to set up utility service in their name. To avoid incurring fines from utility providers, tenants should make sure to set up utility service in their names as soon as possible after moving out of the rental property. This will help tenants avoid fines and make it easier for them to complete the move out process.

Terminating Lease Agreements

In many cases, tenants will sign a lease agreement that specifies the terms of their tenancy, including the end date. If this is the case, tenants should make sure to end their tenancy agreement according to the terms specified in the agreement. If tenants have a written lease that does not have an end date, they should end their tenancy as soon as possible.

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

Our team makes tenant move outs a breeze, saving owners the time, money and hassle of going through that themselves.

To learn more about the services we can offer you, contact us today by calling (503) 447-7788 or click here to connect with online.

As the United States enters a recession, the U.S. housing market is officially in a downturn that could potentially last for 12 months or longer.

The big question that most investors want to know is if a housing market downturn will help the rental market, or hurt it.

Thankfully, whenever the housing market faces a downturn, real estate investors can look for opportunities where economists expect defeat because real estate investors typically benefit the most when home prices fall.

Fewer People Buying, More People Selling

The housing market has been a nonstop boom for the last five to 10 years, especially in Portland Oregon, where home prices have gone through the roof, and in many cases, it’s made it next to impossible for people who earn under $100,000 a year to buy homes.

When it comes to investors, with fewer people buying, and more people selling, this means more properties are available than ever on the market for them to choose from.

Opportunities like this don’t come around very often, the last time that we saw market conditions like this was after the 2008 “Great Recession” when home prices tanked and stayed at record lows for several years.

The current recession is only just beginning, and even though some economists are saying that it’s not going to last very long, it’s likely that we could see this recession last for 12 months or longer.

Is A Housing Crash Coming?

Housing recession usually stems from “speculations.” What does speculation entail? This activity occurs when investors buy houses to make huge profits from them when they make a sale in the future. Speculation creates high demand, invariably skyrocketing the prices of homes. 

With more speculators joining in on the party, an ultimate crash is imminent. When there’s a downturn in the economy, those who took mortgages and loans will find it difficult to clear their debts as interest rates increase. Most investors will seek to sell their properties for lower rates to stay afloat, giving room for lower prices.  

Although a housing recession can negatively impact a country regardless of its economic prowess, it’s vital to understand that these events are usually short-term, meaning that economic recovery is achievable within a short period. Nonetheless, select occurrences can make this recession form last for long periods.

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Ultimately, many economists have said that the state of the 2022 housing market is a lot different than what we saw in 2008 because the lending fundamentals are different than back then.

With the market built on stronger fundamentals, it’s likely that the current housing market downturn may not last for as long, or have as great an impact on the economy as some have predicted.

While investors wait for the housing market downturn to end, there’s still going to be a fair number of deals out there including multifamily and single-family homes for sale in Portland, and the greater PDX area.

Also, A Great Opportunity for First Time Investors

Besides being a great opportunity for longtime real estate investors, the current real estate market is also presenting ample opportunities for new real estate investors who are moving from stocks to real estate

Rental real estate presents a “steady Oasis” in any recession because of the simple fact that rental properties continue to earn passive monthly cash flow while most other well-known investments are tanking.

Once they add rental properties to their investment portfolios, some new real estate investors may choose to manage their rental properties themselves, getting first-hand experience in working with tenants, plus overall property management.

Yes, rental properties can be managed by any DIY investor, but the reality is that for passive income, it’s always a better decision for an investor to choose an experienced property manager like rent Portland Homes – Professionals.

When investors choose property managers to manage their rental they could have peace of mind in knowing that all aspects of property management will be handled from start to finish including property marketing, tenant selection, rent collection, maintenance, customer service and so much more.

Besides the ease and convenience of working with a property management company, another benefit is that owners can live anywhere in the United States while having confidence that their rental property is effectively being cared for and maintained by a company property manager.

New investors can take heart that rental real estate will continue to be a steady source of cash flow for them for years to come including good real estate markets, and bad.

What’s also most important to know about the state of the rental market is that with homes still out of reach for many buyers nationwide, rental real estate will continue to be in high demand in the years to come.

Why? People will always need a place to live and search for rental properties in Portland or surrounding areas nationwide.

Contact Rent Portland Homes – Professionals

At Rent Portland Homes – Professionals/4RentLocal.com, we specialize in property management for Beaverton, Portland, and surrounding areas.

Founded by Fred Marlow, our company has decades of combined property management experience in the PDX area. This means that regardless of if you are a new or inexperienced investor, you can have Peace of Mind in knowing that the best property management team in Portland is managing your rental property.

For a property management quote, or to learn more about the services that we can offer you, contact us today by calling or clicking here to connect with us online.

In today’s economy, rental properties are still a great way to build wealth, and passive income, but during the process of owning rentals, every landlord must face the reality that good tenants are going to come and go.

Sadly, there are a wide variety of reasons why good tenants leave but, the reality is that there are several reasons why they leave, and there are solutions that landlords can utilize to keep those tenants for longer than 12 months at a time.

More Affordable Rental Options Are Available For Tenants Locally

One of the first reasons why good tenants leave is because more affordable rentals are becoming available locally.

This is completely understandable because every tenant wants to save money monthly.

Landlords must regularly stay on top of what’s happening in their rental market to avoid losing their good tenants to lower-priced, competitive rentals.

This means taking the time to actively investigate comparable listings in the local area. This research will tell every landlord what other properties nearby are currently renting for and if those properties have any features or amenities that their rental properties don’t currently have.

After doing some comparable research, landlords must consider the price differentials and be willing to lower the monthly rent (if needed), or grant their tenants concessions if the tenant is willing to renew their lease for another 12 months.

Problems With Neighbors

Another common thing that stops good tenants from renewing their leases is when they have problems with neighbors in the area.

By neighbors, we mean other tenants in the same building that they live in or neighbors that may live on the same street.

When problems with neighbors occur, landlords must take their tenant’s feedback into account and work hard to resolve those issues with neighbors immediately because, if the tenant feels uncomfortable living in that rental property, they won’t hesitate to move when their lease is up for renewal.

Promises Were Not Kept

In today’s world, every tenant wants to know that their landlord sees them as more than just to rent check, the tenant wants to know that the landlord is going to keep their promises, especially when it comes to maintenance or repairs that may be needed at the rental property.

If promises are not kept, tenants won’t hesitate to move, especially if the promises that were broken directly affect the tenant’s quality of life living at the rental property.

Landlords who have problems keeping their promises should invest in a calendar-based system that will remind them of the promises that they’ve made and provide them with consistent reminders until they complete the jobs that need to be done.

The Landlord Was Hard to Reach

Besides knowing that they have a landlord who keeps their promises, tenants these days also want to know that their landlord is going to be easily accessible when they need to communicate with them.

Unfortunately, tenants who feel that their landlord is hard to reach or doesn’t respond quickly to their issues won’t think twice to move when their lease is up, especially if the lack of communication with the landlord directly affects their quality of life at the rental property.

Landlords who have difficulty communicating with their tenants should hire a property management company like Rent Portland Homes – Professionals because, our team has an in-house staff that handles everything from tenant selection to maintenance, so landlords don’t have to.

Problems BIG or SMALL Was Ignored

When problems arise, one of the first things every landlord should do is try to resolve the problem immediately, regardless of whether it’s big or small.

In 2022, many landlords often underestimate the importance of resolving problems, especially if it’s something that they consider to be minor that can wait to be resolved for 24 hours, or even over a weekend.

Tenants must know that when problems arise, and as soon as they report them, the landlord will take steps to resolve the issue immediately.

Not Enough Amenities

As more rental properties come on the market, another common reason why good tenants leave is that the property that they are currently living in doesn’t have enough amenities.

Aside from major renovation, there’s not much that a landlord can do to add new amenities to a rental property but, there are improvements that a landlord can make along the way including the following:

• Adding smart appliances
• Repainting the property
• Adding new flooring
• Adding more security features to the unit
• Adding on-site storage
• Adding a dog run

Landlords who are on a budget after COVID-19 can take heart that it’s entirely possible to retrofit a rental property with some of the latest high-tech amenities for under $1000.

Each landlord should make consistent improvements to their rental properties throughout the year because those improvements can often be the deciding factor that motivates a tenant to renew their lease for another 12 months or search for another rental property when their lease is up.

The Tenant Had Unexpected Life Changes

So far, we’ve offered you several common reasons why good tenants typically move out within 12 months, another common reason that good tenants leave is when they have unexpected life changes.

Some of the most common and expected life changes occur when a tenant loses their job, must relocate for a job, gets married, has children, or does something else.

Sadly, there’s not much that the landlord can do when there is an unexpected life change, but when it comes to a job loss, landlords who have good tenants who have paid on time within the last 12 months would be better served to work with the tenant until they start their new job and start earning an income once again.

Taking the time to work with the tenant will preserve that landlord-tenant relationship will be something that motivates them to renew their lease with the landlord once it’s up for renewal.

Do you have rental properties in Portland Oregon that need property management? If so, contact the Rent Portland Homes – Professionals team today by calling us at (503) 646-9664, or clicking here to connect with us online.

Our team has decades of combined property management experience and managing tenants that saves owners the time, money, and hassle of managing their properties themselves.

To get a better return on investment from your rental property reach out to us today, you’ll be glad that you did!

One important scenario that you may encounter as a landlord is when your guest has a tenant who stays longer than expected.

As a landlord, one of the most important things you must do is enforce your lease because, if your tenants invite guests to live with them for weeks, or months at a time, they are in direct violation of the lease and should be held accountable.

If you’ve never encountered this situation before, this article will share with you five ways to know when a tenant has become a guest and how you must deal with it.

#1 – They’ve Stayed Longer Than 2 Weeks

One of the first ways to know that a guest can now be classified as a tenant is when they stay in your rental property for more than two weeks.

Two weeks is the most common length of time that anyone will go on vacation or visit family members for an extended stay. If your tenant has guests that are staying for longer than that period you must A. Contact your tenant and inform them, they are violating the lease, and B. Their guest must be added to the lease if they are going to be living there.

#2 – The Guest Is Moving Their Belongings In

Another easy way to tell if your tenant has guests that can now be classified as tenants themselves is if those guests are moving their personal belongings into the rental property.

It’s very uncommon for people to travel with anything other than just a few bags of luggage so, if you spot your tenant’s guests slowly but surely moving their personal belongings into the rental property, this is a sign that they are planning on staying for a longer period.

#3 – They Are Paying the Rent

If you’re still unsure that your tenant has guests that can now be classified as tenants, another easy way to know for certain is that the guest is now a tenant as if the guest starts paying the rent.

Paying the rent is a clear sign that the guest is planning on staying for longer than two weeks and it shows that they are more than just a guest who will be gone soon.

It’s never a good idea to accept rent payment from a guest because this implies that you’ve entered into an informal landlord-tenant agreement with them, and that guest can now enjoy the same rights and privileges as the tenant who is currently on the lease.

#4 – Your Mailing Address Is Now ‘Their’ Mailing Address

A mailing address is a very personal thing since it’s also part of a person’s identity so if your guest tenant is now using the tenant’s mailing address as their mailing address, this should also be another clear indicator that they can now be a tenant themselves who is living at that rental property full time.

#5 – You’ve Spoken with Them About Maintenance Requests

Last of all, but most important, another sign that a tenant has become a guest is when the guest is submitting maintenance requests to you.

The average guest will not contact a landlord or an owner about maintenance issues unless they are planning on living on the property for any length of time so if your tenants’ guests begin communicating with you regarding things that need to be repaired or replaced at the rental property, this is another easy to decipher sign that they are now living in that property full time.

How To Deal with Guests Who Overstay Their Welcome

There’s no denying that the rental market has changed drastically over the last two years and some people are letting their friends/family members stay with them to keep them off the streets.

Obviously, your goal is not to be the bad guy, but, your rental property is still a business, and you must enforce your lease, otherwise, your tenants will continue to walk all over you during the length of time that they’re living in your property.

Here are several things that you can do to deal with guests who have overstayed their welcome:

Communicate – If you currently have a lease with a clause regarding how long tenants can have guests, you should contact your tenant if you’ve noticed that their guest has stayed with them for more than two weeks at a time.

Talk with your them one-on-one to let them know that the guest must leave and if they informed you that they are trying to keep their friend or family member off the street, you should direct them to local social services so that their guest can find an alternative place to live.

Enforce – After you’ve taken the time to communicate with your tenant, they must be made aware that you plan on enforcing your lease, including requiring them to cure or quit.

This means that if they do not ask their guests to leave, the tenant will face eviction and since no tenant wants to be evicted, especially since COVID, it’s highly likely that they will take the steps to ask guests to leave the rental property before their landlord moves forward with the eviction process.

Keep in mind that someone who’s living in your rental property illegally in some cases may enjoy the same rights and privileges as the tenant, so it’s important to consult with your attorney before you take the steps to move forward with the eviction process.

Contact Rent Portland Homes – Professionals

At Rent Portland Home – Professionals, we save owners the time, money, and hassle of managing their rental properties themselves.

In 2022, it’s more important than ever before to have a property manager managing your Portland, or Beaverton area investment properties.

A property management company will provide you with professional management so that you can have Peace of Mind in knowing that your investment property is earning excellent ROI.

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

Are you searching for information on how to find the best property management company? If so, you’ve come to the right place.

Searching for the most experienced property manager is understandable simply because a property management company will save you the time, money, and hassle of managing your rental property yourself.

In today’s world, there are a wide variety of property management companies out there, but few are experienced or could be classified as a great property management company.

Thankfully, finding the most experienced property manager is easier than you think, especially when you follow these tips.

How To Choose The Best Property Management Company

Even though some property management companies have a nationwide footprint, the reality is that few of those companies know the local area where they have offices.

Choosing a property manager that has local market experience is important because, they will know the rental market better than anyone, and have a tight vendor matrix of maintenance professionals, contractors, and service companies that they can turn to at a moment’s notice.

Tip #2 – Look for Experience

Another thing to be on the lookout for while searching for the property management company is a property manager with verifiable experience.

The property management company that you decide to work with should have been in business for at least five years and have verifiable references that can easily be found on websites like Google My Business, Facebook, Yelp, and other local business directories.

If the company cannot be found online, or if no customer reviews exist, this should lead to you questioning the legitimacy of this company and wondering if they truly have the experience that they had claimed to have.

Every service-based company currently should have reviews online, regardless of if they are good or bad, simply because this is one common trait that comes from doing business in the computer age.

By reading management reviews, you’ll be able to get a good understanding of the services that the company has to offer and you’re going to have Peace of Mind in knowing that they are the most qualified company to provide you with the services that you need.

Tip #3 – Make Sure They Have a Team

As the old saying goes, teamwork makes the dream work, and the same can be said about hiring a property management company.

One of your top goals during your search for the property management company should be to hire a company that has an actual team that manages their clients’ rental properties.

Yes, having a team does mean that they should have at least one person who specializes in each of the individual services that you need for your rental property including customer service, rent collection, maintenance, accounting and marketing.

Choosing to work with one person who does everything will only lead to failure because, that one individual may have property management experience but, once they get busy, the quality of their work, and the time that they’re able to invest in managing your rental property will only begin to fail.

It’s best to thoroughly analyze the property management company before you hire them and to confirm that they do have a team that manages their rental properties so that you could have confidence that your investment property will be professionally managed by caring professionals who will offer your tenants the best service possible.

#4 – Verify Their Licenses

You may have thought that you found the property management company but, one more thing to look for during your search is to verify that they are licensed in the State of Oregon.

Every property management company in the State of Oregon should have a license to manage rental properties, if a property management company is not licensed, this should make you think twice about hiring them to manage your rental property.

Choosing to work with a licensed property manager shows you that they are fully committed to their business and willing to go the extra mile to ensure that they get the training and skills that they need to professionally manage their clients’ rental properties.

#5 – How Mane Properties Do They Manage?

While searching for a property management company in Portland Oregon, or elsewhere in the United States, you should also be willing to ask the company how many rental properties they currently manage.

A professional property management company should be willing to tell you upfront how many properties they currently manage in their portfolio and where those properties are located.

Yes, you won’t be able to inspect those properties in person but, you should be able to drive by each property to get a bird’s eye view of how that property looks on the outside.

If the property looks well maintained, clean, and has tenants, this should be able to provide you with confidence and Peace of Mind and knowing that you’re going to be working with a property management company that will apply the same standards when managing your rental property.

#6 – What Is Their Vacancy Rate?

Last of all, another key question to ask during your search for a property management company is what is their vacancy rate?

In 2022, the state of Oregon currently has one of the lowest vacancy rates in the United States, especially in the Portland area, where vacancy rates have dropped to record lows in recent years.

An experienced property management company should be able to quickly and efficiently rent their client’s properties so that there are no more than 30 days between the vacant property and its next tenant.

#7 – Thoroughly Analyze Every Company

Since the start of the real estate market boom, there are more property management companies out there than ever before but there are also many companies out there who lack the experience that they need to professionally manage their clients’ rental properties.

The Internet can also make it more difficult when comes to finding the property management company because it’s easy for any company to establish an online presence so they look legitimate when the truth about that company could be far different.

Before you take the last step and choose to work with a property manager, you should also thoroughly analyze that company and use your best instincts before choosing them.

You must realize that if a property management company excels in one area, but you find them lacking in other areas, ultimately, it’s going to be the areas that they are lacking in which could ultimately hurt your ability to continue earning passive income from that property.

Contact Us

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

Our team will save you the time and hassle of DIY property management so that you can focus on enjoying the passive income that comes from your rental property.

To learn more about the services that we can offer you, contact us today by calling (503) 646-9664 or clicking here to connect with us online.

Since the end of the pandemic, evictions have been on the rise in Portland, and across the entire state of Oregon.

Even though eviction is something that every landlord must deal with at some point, the reality is that it’s entirely possible for landlords to avoid evicting tenants if they use the right strategies to help avoid eviction.

In this article, we will share with you several strategies that landlords can use to help the costly eviction process.

Steps For Avoiding Eviction

One of the best ways you can avoid the eviction process with a tenant is to make sure that your lease is very clear about rent, and the consequences for paying rent late.

Some key points that your lease should include area:

• When rent is due
• What your grace period is
• When rent is considered late
• Late fees
• When the eviction process starts

Having clear language in the lease regarding rent is not enough, you must also be willing to enforce the rules because, if you let your tenant get by with paying the rent late, that tenant will take advantage of your generosity and be willing to do that again anytime in the future.

Worse yet, tenants who pay their rent late won’t hesitate to tell their friends, family members, or other renters that they’ve paid rent late and that those tenants can do the same should they encounter similar circumstances where they must pay late in the future if they are renting from you.

Encourage Communication When If Your Tenant Has Financial Problems

Another important thing that you can do to help avoid the eviction process with your tenant is to be willing to communicate with them when they experience financial problems.

Since the start of the pandemic, it’s not uncommon for many tenants to have lost jobs, changed jobs, or industries, so it’s best to encourage your tenants to be very upfront and communicate with you if they are experiencing financial problems.

It’s always best to be willing to work out payment arrangements with tenants, especially if you know the money is coming because good tenants are worth their weight in gold.

It’s better to work with them rather than just take that tenant through the eviction process and start all over again with finding a new tenant for your property.

Connect Tenants with Local Social Support Services

Another important thing to do once your tenant reaches out to you regarding a job loss that will cause them to be late paying their rent is for you to connect them with local social support services.

Tenants must be made aware that help is available to them if they’re unable to pay their rent on time or if there’s faced with not being able to buy food for the month, they should know that support programs are out there that they can tap into to help cover the gaps until they get back on track financially.

Offer Them Cash for Keys

Let’s be clear, the absolute last thing that a tenant wants is to have been an eviction on their rental record, the same is true for the landlord, every landlord wants to avoid eviction with their tenant, therefore offering them an arrangement like cash for keys is ideal.

Cash for keys is one of the most time-tested ways to avoid eviction because, instead of taking the delinquent tenant through the eviction process, the landlord offers them a viable cash payment for them to move out within a set period.

Even though cash for keys is an ideal way to avoid eviction, this agreement must also be in writing and the tenant must be made aware that if they violate the agreement, they will immediately face eviction.

Inform Your Tenants That You Will Report the Eviction to The Credit Bureaus

Last of all, but most important, if an eviction with a tenant is moving forward, you should also inform the tenant that you will be reporting the eviction to the credit bureaus.

This is important to mention because, in today’s world a credit score is priceless, and nobody wants to have an eviction on their Portland credit report which could hinder their ability to successfully apply for a mortgage loan.

It’s best to lay out all the consequences of the eviction to the tenant right from the very beginning so that they’re aware that there’s more than one consequence that could affect them financially in the years to come.

Contact Rent Portland Homes – Professionals

At 4RentLocal.com/Rent Portland Homes – Professionals, we specialize in local property management services for the Portland Oregon area.

Our property management team saves owners the time, money, and hassle of managing their rental properties themselves so that they could focus on earning passive income and passive cash flow from those rental properties.

If you need help with property management services, including evictions, contact us today by calling (503) 447-7735 or clicking here to connect with us online.