Selling a rental property can be an intimidating and overwhelming process, especially if you’re a first-time landlord.

You want to maximize the return on your investment, but you’re not sure how to do it. Fortunately, there are expert tips and strategies to help you maximize your rental property sale and get the best return on your investment.

Whether you’re a seasoned real estate investor or a newbie, these tips can help you navigate the process and make the most of your sale. From understanding the current market conditions and setting the right price to staging the property for showings and negotiating with potential buyers, these expert tips will help you maximize your rental property sale and get the most out of your investment.

Maximizing Your Return: Expert Tips for Selling a Rental Property

Selling a rental property can be an intimidating and overwhelming process, especially if you’re a first-time landlord. You want to maximize the return on your investment, but you’re not sure how to do it. Fortunately, there are expert tips and strategies to help you maximize your rental property sale and get the best return on your investment. Whether you’re a seasoned real estate investor or a newbie, these tips can help you navigate the process and make the most of your sale. From understanding the current market conditions and setting the right price to staging the property for showings and negotiating with potential buyers, these expert tips will help you maximize your rental property sale and get the most out of your investment.

Understanding the Current Market Conditions

Before you can set the right price for your rental property, you need to understand the current market conditions. This means researching recent sales in the area to get a better understanding of the going rate for similar properties. You should also look at the median sale prices for comparable properties in the area. This will give you an idea of what buyers are willing to pay for a property like yours. Additionally, you should check the local housing market to get an idea of the current trends in the area. Knowing the average days on market, the number of active listings and the average listing price will help you set the right price for your rental property.

You should also consider the current economic conditions and how they may affect your sale. For example, if interest rates are low, you may be able to get more potential buyers interested in your property because they’ll be able to get a better deal on a loan. Likewise, if the economy is booming, you may be able to get a higher price for your rental property.

It’s also important to consider the current rental market conditions. If rental prices in the area are high, you may be able to get a higher price for your property. On the other hand, if rental prices are low, you may need to adjust your price accordingly. Knowing the current rental market conditions will help you set the right price for your rental property and maximize your return on investment.

Setting the Right Price

Once you have a better understanding of the current market conditions, you can start setting the right price for your rental property. It’s important to be realistic about the price you set as you don’t want to overprice your property. You should also consider any repairs or upgrades you’ve made to the property, as this may affect the price.

When setting the price, you should consider factors such as the size of the property, its location, and any amenities it may have. For example, if the property is in an area that’s close to amenities such as schools, parks, and shops, you may be able to get a higher price. Additionally, if the property has features such as a pool or a patio, you may be able to get a higher price.

It’s also important to consider the condition of the property. If the property needs repairs or updates, you should factor this into the price. You don’t want to overprice the property and put off potential buyers, so it’s important to be realistic about the price you set.

Staging Your Property for Showings

Once you’ve set the right price for your rental property, it’s time to start staging it for showings. Staging your property can help make a good impression on potential buyers and make them more likely to make an offer.

When staging your property, you want to make sure it’s clean and tidy. This means getting rid of any clutter and sweeping, dusting, and vacuuming the floors. You should also consider renting furniture to make the property look more inviting. Additionally, you should make sure the property is well-lit and add plants, flowers, and other decorations to make it look more appealing.

You should also make sure any repairs or updates are done before the showings. This will make the property look more attractive and help you get a better return on your investment. Additionally, you should consider painting the walls to make the property look more modern and up-to-date.

Advertising Your Property for Sale

Once your rental property is ready for showings, you need to start advertising it for sale. You should consider the various advertising channels available to you, such as online listing services, newspaper ads, and print flyers. You should also consider using social media to spread the word about your rental property.

When advertising your property, it’s important to include all the relevant information about the property, such as its location, size, and any amenities it may have. You should also list the price and any other details that may be relevant to potential buyers. Additionally, you should include photos of the property to give potential buyers an idea of what it looks like.

Negotiating with Potential Buyers

Once potential buyers start showing interest in your rental property, you need to be prepared to negotiate with them. Negotiating is an important part of the process and can help you get the best return on your investment.

It’s important to be prepared for negotiations and know the limits of what you’re willing to accept. You should also consider any repairs or upgrades you’ve made to the property, as this may affect the price. Additionally, you should try to remain flexible and be open to negotiation. This will help you get the best possible price for your rental property.

It’s also important to remain professional and polite during negotiations. Don’t let emotions get the better of you and try to remain focused on getting the best price for your property. Additionally, you should be prepared to walk away if the negotiations don’t go your way.

Hiring a Professional Real Estate Agent

Hiring a professional real estate agent can be a great way to maximize your return on your rental property sale. A real estate agent will be able to help you navigate the process and get the best possible price for your property.

When hiring a real estate agent, it’s important to make sure they have experience dealing with rental properties. You should also make sure they are familiar with the local market and know what buyers are looking for in the area. Additionally, you should make sure they have a good track record of successful sales and can provide you with references.

A real estate agent can also help you with the paperwork and ensure the process goes as smoothly as possible. They’ll be able to handle the negotiations and help you get the best possible price for your property.

Choosing the Right Contractor for Repairs

If your rental property needs repairs or updates, you should consider hiring a contractor to do the work. Hiring the right contractor can help you save time and money and ensure the work is done to a high standard.

When choosing a contractor, it’s important to make sure they have experience dealing with rental properties. They should also have the necessary tools and equipment to do the job correctly. Additionally, you should make sure they have a good reputation and can provide you with references.

It’s also important to get quotes from several contractors before making a decision. This will help you get an idea of how much the repairs will cost and ensure you get the best price for the work.

Preparing for Closing

Once you’ve negotiated with potential buyers and hired a contractor to do any repairs or updates, it’s time to prepare for closing. Preparing for closing involves a lot of paperwork and legal documents, so it’s important to be organized and make sure everything is in order.

You should also consider any taxes or fees you’ll need to pay when closing the sale. For example, you may need to pay capital gains tax or transfer fees. Additionally, you should make sure all the paperwork is signed and the funds are transferred to your account.

Benefits of Selling a Rental Property

Selling a rental property can be a great way to maximize your return on investment. You may be able to get a higher price for your property than if you kept it as a rental. Additionally, selling the property can free up capital that you can use to invest in other rental properties or other investments.

Selling a rental property can also help you diversify your portfolio. This can be beneficial if the rental market takes a hit, as you’ll have other investments to fall back on. Additionally, selling the property can help you avoid the hassle of being a landlord, such as dealing with tenant issues and maintenance issues.

Contact Us!

Selling a rental property can be a daunting and overwhelming process, but it doesn’t have to be. 

If you plan on holding your investment property, contact us for professional property management today by calling us at (503) 447-7788 or click here to connect with us 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!

Are you planning on renting your Beaverton home for the first time? If so, there are a variety of questions that you should ask applicants that will help you to choose the most qualified tenant for your rental property.

Asking the right questions during tenant screening is important because an applicant’s answers to those questions will offer you insight into the type of tenant that they could become.

In this article, we will offer you the top 10 questions that you should ask during the tenant screening process.

When do you plan on moving in?

A good first question for a potential renter is knowing when they plan to move. Maybe they have time left on their current lease and can’t move immediately. In this case, it may be best to find a tenant who can move in immediately to reduce vacancy time.

On the other hand, suppose the current tenant has given two months’ notice, and you have started advertising early. In that case, someone who wants to move immediately wouldn’t be a good match.

How long have you lived at your current address?

A basic tenant screening question is knowing how long they’ve lived at their current place. Their answer can give an idea of their stability as a long-term tenant. For example, have they lived there for less than a year? In that case, it’s good to find out why. It may be because of relocating with work or another legitimate reason. 

A tenant who is constantly on the move may be a sign of a problem tenant, and there’s a risk they won’t stay for the entire lease agreement term. 

Why are you moving?

Moving can be expensive, not to mention stressful. So, it’s worth asking a prospective tenant their reasons for moving. Maybe their current place no longer matches their needs. Or, they may need to live closer to work or family. Was it an increase in rent prices? Regardless of their reason, always do your due diligence during the screening process. 

It’s always a red flag if the tenant lies about their reason for moving. For instance, they say they need to downsize, but you learn from references that they are getting evicted or regularly miss rent payments.

Do you have pets?

If you don’t allow pets in your rental unit, then you must find out about any animals they have. However, even if you have a pet policy allowing animals, you may have restrictions on the size and breed. So, it’s best to find out before signing the rental agreement. Additionally, you can discuss your policy on paying a pet deposit and any additional fees. 

If you allow pet owners to rent, always carry out pet screening beforehand. 

Pro tip: Remember that a service animal isn’t classified as a pet, and you can’t deny housing to someone who has one. You should also check that the emotional support animal letter is genuine.

How many people will be living with you?

Rental laws restrict the number of people per bedroom in a rental unit. If you have a multi-tenancy unit, asking this simple question is essential. In any case, anyone living in the apartment permanently should be named on the lease agreement. 

Are you or anyone who will be living in the apartment smokers?

A vital rental screening question to ask a tenant is if they smoke. Typically, a rental agreement should state your smoking policy and outline the consequences for violating the lease. However, asking if they smoke allows you to assess their reaction. 

What’s your current income?

It’s not impolite to ask a straightforward question about how much a prospective tenant earns. After all, you must know if they can afford the monthly rent or not. Typically, a tenant can afford rent if they spend no more than 30% of their income on housing. According to a Harvard study, the 30% rule “remains a reliable indicator of affordability both over time and across markets.”

If their pay stubs or bank statements reveal a lower amount, you should be extra cautious about renting.

It’s worth noting that reports indicate that nonpayment of rent is the most common reason for evictions. 

Have you ever been evicted?

Asking about previous evictions may reveal why they were forcibly removed from a previous rental unit. Of course, if they were evicted, it’s good to be cautious. But were there extenuating circumstances? Or has enough time passed, and the tenant now has a good credit history for a previous eviction not to be an issue? Again, it’s good to find out. 

Do you have current or previous convictions?

Before asking about a criminal record, it’s crucial to know if any local laws prevent you from inquiring too deeply into this. There’s also grey area surrounding the Fair Housing Act, and if it’s truly legal to ask this question, as it may turn out to be discriminatory. However, if you can inquire about convictions, it’s good to do so. In addition, their criminal history and type of punishment could indicate if they are a suitable candidate for renting. 

Be very careful not to ask about arrests. It’s generally illegal to ask about previous arrests when conducting a screening interview. Arrests don’t always lead to convictions. 

Can you pay the security deposit and one month’s rent at the lease signing?

The last question is to ensure that the tenant can pay the upfront costs of renting. At the same time, you can ask if the potential tenant has any questions for you.

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Contact Us

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

Our company saves owners the time, money, and hassle of managing their rental properties themselves.

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

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.

Welcome to 4RentLocal.com, your source for rental market news and information for Portland Oregon landlords, and tenants in the Portland metro area.

Our team has over 10 years of local property management experience and we will provide you with the best news information regardless of if you’re a local landlord who is looking for tips on how to get the best return on investment from their rental property or a tenant who is looking for their next rental property in the Portland area.

The rental market has changed over the last two years and more renters are moving out of Portland to surrounding communities like Beaverton, Hillsboro, and other local areas so that they could still be close to Portland, but not live in the big city.

Investors know this, and along with out-of-state investors, they are now searching for investment properties in the greater Portland metro area because they know that tenants want more flexibility regarding where they live, and they want to have a lifestyle instead of just having a life.

As the rental market has changed in Portland, you can count on our property management team to provide you with the most useful news information that you can use to get the best return on investment from your local rental property.

4rentlocal Helps You Stay Up To Date With Local Rental Market News And Information 

In the 2020s, it’s more critical than ever before for investors, and landlords, to be up to date with what’s happening in the local rental market because, not being up to speed with the latest laws, rules, and regulations affecting Portland landlords can cost the landlord thousands of dollars.

The same is true for tenants, tenants now have more rights in the state of Oregon than ever but, they must be aware of those rights to have stability and Peace of Mind at their rental properties.

This blog will share with you the most useful information that you can use as a tenant which will help you to find the right rental property and start a great relationship with a landlord that will last for 12 months or longer.

Regardless of if you rent or own a rental property in Portland, you need an excellent resource of local knowledge, fed by property managers who understand the market including the latest trends, changes, and news that affects the Portland rental market on a day-to-day basis.

We Know The Portland Oregon Rental Market 

Our team is based in Beaverton OR, and for more than 10 years, we’ve provided excellent property management service to local landlords regardless of if they own single-family or multifamily properties in Portland, or surrounding areas. 

As the rental market has changed, our property management company has only continued to grow because more landlords are choosing our services than ever before instead of continuing to manage the rental properties themselves.

If you like the articles that you find on this blog, we invite you to comment and share them with your social media networks, friends, and followers.

We invite you to explore our site, connect with us on Facebook by clicking here or call us at (503) 447-7735 to learn more about the services and solutions that we can offer you.