As a property owner, it is crucial to recognize the significance of rental property maintenance. Proper maintenance not only ensures the longevity and value of your investment property but also enhances tenant satisfaction and retention. Neglecting maintenance can lead to costly repairs, decreased property value, and tenant dissatisfaction.

Routine maintenance tasks include, but are not limited to, regular inspections, landscaping, plumbing repairs, electrical work, and general upkeep. These tasks can be time-consuming and require a certain level of expertise. By investing in regular maintenance, you can prevent small issues from escalating into major problems and save yourself from unnecessary stress and expenses in the long run.

The challenges of managing rental property maintenance

Managing rental property maintenance can be a daunting task, especially if you own multiple properties or have a busy schedule. It often involves coordinating with various contractors, conducting inspections, and ensuring that repairs are completed in a timely manner. Moreover, staying up to date with local regulations and building codes adds another layer of complexity to the process.

Additionally, unexpected maintenance emergencies can arise at any time, requiring immediate attention. These emergencies can disrupt your personal life and cause inconvenience to your tenants. Handling maintenance issues yourself can be overwhelming and may not be the best use of your time and resources.

Benefits of outsourcing rental property maintenance

Outsourcing rental property maintenance has numerous benefits that can alleviate the challenges faced by property owners. By entrusting these responsibilities to a professional Oregon property management company, you can save time, reduce stress, and ensure that your investment property is well-maintained.

1. Time and convenience

Outsourcing maintenance tasks frees up your time and allows you to focus on other aspects of property management or your personal life. A property management company will handle all the necessary coordination with contractors, inspections, and scheduling. They have established relationships with trusted professionals, ensuring that repairs are done efficiently and cost-effectively. This convenience allows you to have peace of mind knowing that your property is in capable hands.

2. Expertise and knowledge

Property management companies have extensive experience in rental property maintenance. They are familiar with local regulations and building codes, ensuring that all repairs and maintenance are carried out in compliance with the law. These professionals have a network of skilled contractors and service providers who can promptly address any issues that arise. Their expertise ensures that maintenance tasks are performed to a high standard, protecting the value and integrity of your investment property.

3. Cost savings

Contrary to popular belief, outsourcing rental property maintenance can actually save you money in the long run. Property management companies have the knowledge and experience to identify maintenance issues early on, preventing them from becoming more serious and expensive problems. Additionally, their established relationships with contractors often result in discounted rates, saving you money on repairs and services. By investing in regular maintenance, you can avoid costly repairs and preserve the value of your property.

Finding the right property management company in Beaverton

When considering outsourcing rental property maintenance, it is essential to find the right property management company for your specific needs. In Beaverton, there are several reputable companies that specialize in property management and maintenance services.

When evaluating potential Oregon property management companies, consider their experience, reputation, and range of services offered. Look for companies that have a solid track record in rental property maintenance and positive reviews from satisfied clients. It is also important to assess their responsiveness and communication style, as prompt communication is crucial in addressing maintenance issues.

The advantages of working with a professional property manager in Portland

If you own rental property in Portland, working with a professional property manager can provide numerous advantages beyond maintenance services. A property manager can handle various aspects of property management, including tenant screening, rent collection, lease agreements, and legal compliance. This comprehensive approach ensures that your property is managed efficiently and effectively.

By working with a property manager, you can benefit from their local market knowledge and expertise. They can help you determine the optimal rental price for your property, attract qualified tenants, and ensure that your investment remains profitable. Additionally, a property manager can handle the day-to-day responsibilities, allowing you to enjoy the financial benefits of owning rental property without the associated stress and time commitment.

Services offered by property management companies

Property management companies offer a wide range of services to meet the diverse needs of property owners. These services can be customized based on your specific requirements and may include:

• Marketing and advertising your property to attract tenants
• Tenant screening and selection processes
• Lease agreement preparation and enforcement
• Rent collection and financial management
• Regular property inspections and maintenance coordination
• Handling tenant inquiries and emergency maintenance calls
• Eviction processes, if necessary
• Legal compliance and staying up to date with changing regulations

By outsourcing these responsibilities, you can benefit from the expertise and efficiency of property management professionals while focusing on other aspects of your life or expanding your investment portfolio.

Case studies: Success stories of property owners who outsourced maintenance

Many property owners have experienced success and peace of mind by outsourcing rental property maintenance. Let’s explore a couple of case studies showcasing the positive impact of working with a property management company.

Case Study 1: John’s Investment Property

John owns multiple investment properties and was struggling to keep up with the maintenance demands of his portfolio. He decided to partner with a property management company that specialized in rental property maintenance. The property management company conducted regular inspections, identified maintenance issues, and promptly coordinated repairs. As a result, John’s properties remained in excellent condition, and he was able to attract and retain high-quality tenants. The property management company’s expertise and network of contractors saved John time and money, allowing him to focus on growing his real estate portfolio.

Case Study 2: Sarah’s Rental Home

Sarah had recently moved to another city but wanted to keep her rental property in Portland. She was concerned about managing maintenance from a distance and maintaining tenant satisfaction. Sarah hired a property manager who took care of all maintenance responsibilities. The property manager conducted regular inspections, promptly addressed maintenance requests, and ensured that repairs were completed to a high standard. Sarah no longer had to worry about coordinating repairs or dealing with emergencies. By outsourcing maintenance, she was able to provide a well-maintained property for her tenants and enjoy a hassle-free rental experience.

Common misconceptions about outsourcing rental property maintenance

There are common misconceptions that prevent some property owners from outsourcing rental property maintenance. Let’s address these misconceptions and provide clarity on the benefits of outsourcing.

Misconception 1: Outsourcing is expensive

While there may be costs associated with outsourcing rental property maintenance, it is essential to consider the long-term savings and benefits. By investing in regular maintenance, you can prevent major repairs and preserve the value of your property. Additionally, property management companies often have discounted rates with contractors, resulting in cost savings. When evaluating the costs, consider the time and stress you save by entrusting maintenance tasks to professionals.

Misconception 2: I will lose control over my property

Outsourcing maintenance does not mean losing control over your property. On the contrary, working with a property management company allows you to maintain oversight while benefiting from professional expertise. You can customize the services provided based on your preferences and remain involved in decision-making. Property managers value your input and work collaboratively to ensure that your property is well-maintained and meets your expectations.

Misconception 3: I can handle maintenance myself

As a property owner, you may have the skills and knowledge to handle basic maintenance tasks. However, managing rental property maintenance involves more than just fixing occasional issues. It requires regular inspections, coordinating with contractors, and staying up to date with regulations. By outsourcing maintenance, you benefit from the experience and efficiency of property management professionals who specialize in rental property maintenance. They have the expertise to identify potential problems and address them proactively, saving you time and money.

Outsourcing rental property maintenance offers numerous benefits that can enhance your property’s potential and alleviate the challenges of managing maintenance yourself. By partnering with a property management company, you can save time, reduce stress, and ensure that your investment property is well-maintained. The convenience, expertise, and cost savings achieved through outsourcing make it a worthwhile investment.

To learn more about the property management services that we can offer you, contact us today by clicking here. 

When it comes to Lake Oswego property management, the importance cannot be overstated. Effective property management ensures that your investment property is well-maintained, attracts desirable tenants, and runs smoothly, ultimately leading to higher ROI.

If you’re still on the fence about hiring a property management company, this article will provide you with reasons why you should hire a property manager and how they can help you.

What is Lake Oswego property management?

Lake Oswego property management refers to the professional management of rental properties in the Lake Oswego area. It involves a range of responsibilities such as marketing vacant units, screening potential tenants, collecting rent, handling maintenance requests, and ensuring legal and financial compliance. Property managers in Lake Oswego act as the intermediary between landlords and tenants, taking care of day-to-day operations to ensure the property is well-maintained and profitable.

Benefits of hiring a property manager in Lake Oswego

Hiring a property manager in Lake Oswego comes with numerous benefits for real estate investors. First and foremost, a property manager takes care of all the time-consuming tasks associated with managing rental properties. This frees up your time, allowing you to focus on other aspects of your investment portfolio or pursue other interests. Additionally, property managers have extensive knowledge and experience in the local market, enabling them to set competitive rental rates and attract high-quality tenants.

Another advantage of hiring a property manager is their expertise in tenant screening. They have effective screening processes in place to identify reliable and responsible tenants who are more likely to pay rent on time and take good care of the property. This reduces the risk of late payments, property damage, and eviction, ultimately contributing to a higher ROI.

Maximizing ROI with professional property management

One of the primary goals of any real estate investor is to maximize ROI. Professional property management in Lake Oswego plays a vital role in achieving this objective. Property managers have a comprehensive understanding of the local rental market, allowing them to set optimal rental rates for your investment property. They conduct thorough market research to determine the rental value based on factors such as location, amenities, and market demand. By setting the right rental price, property managers attract more potential tenants, reducing vacancy periods and maximizing rental income.

In addition to setting competitive rental rates, property managers also assist in minimizing expenses and maximizing profits. They have established networks of trusted contractors and service providers, enabling them to negotiate lower rates for repairs and maintenance. Regular property inspections and preventative maintenance help identify and address issues before they become costly problems. Moreover, property managers ensure timely rent collection, reducing the risk of late or missed payments.

How a property manager can handle tenant screening and placement

Tenant screening and placement is a critical aspect of successful property management. A property manager in Lake Oswego takes care of the entire process, ensuring that only qualified and reliable tenants are placed in your investment property. They conduct thorough background checks, including employment verification, credit history, and rental references. This helps mitigate the risk of renting to tenants with a history of defaulting on rent or causing property damage.

Once suitable tenants are identified, the property manager handles all the necessary paperwork, including lease agreements and move-in inspections. They also ensure that tenants are aware of their responsibilities and the rules and regulations that govern the tenancy. By carefully screening and placing tenants, property managers contribute to a positive tenant experience, reducing tenant turnover and maximizing long-term profitability.

The role of a property manager in rent collection and maintenance

Rent collection and maintenance are two critical responsibilities that a property manager takes care of. Timely rent collection is essential for maximizing ROI, and property managers have effective systems in place to ensure rent is paid promptly. They handle rent collection, late payment notices, and, if necessary, the eviction process. By enforcing lease terms and addressing any payment issues promptly, property managers maintain a consistent cash flow for your investment property.

Maintenance is another crucial aspect of property management. Property managers coordinate repairs and maintenance requests from tenants, ensuring that issues are resolved promptly and efficiently. They have a network of trusted contractors who provide quality services at competitive prices. Regular property inspections help identify maintenance needs before they escalate into costly problems. By addressing maintenance issues proactively, property managers protect the value of your investment property and reduce expenses in the long run.

The value of property management in handling legal and financial aspects

Managing rental properties involves navigating various legal and financial aspects, which can be complex and time-consuming for individual investors. Property managers in Lake Oswego have a thorough understanding of landlord-tenant laws and regulations, ensuring that your investment property is in compliance. They handle lease agreements, security deposits, eviction processes, and any legal disputes that may arise. By staying up-to-date with legal requirements, property managers protect your investment and minimize the risk of legal complications.

In addition to legal matters, property managers also handle the financial aspects of property management. They maintain accurate financial records, track income and expenses, and provide regular financial statements to keep you informed about the financial performance of your investment property. This transparency and financial oversight allow you to make informed decisions and maximize your ROI.

Lake Oswego property management company options

When it comes to property management in Lake Oswego, there are several options available. Property investors can choose between hiring an independent property manager or partnering with a property management company. Independent property managers typically handle a limited number of properties and provide a personalized approach. On the other hand, property management companies have larger teams and more resources, offering a wide range of services and extensive market knowledge.

Choosing the right property manager for your investment property

Selecting the right property manager is crucial for maximizing your ROI in Lake Oswego. Consider factors such as experience, reputation, services offered, and fees when making your decision. Research different property managers or property management companies, read client testimonials, and ask for referrals. It’s important to find a property manager who understands your investment goals and can provide the level of service you require.

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In conclusion, Lake Oswego property management is the key to maximizing ROI in your rental properties. By hiring a property manager, you can benefit from their expertise in marketing, tenant screening, rent collection, maintenance, legal compliance, and financial management. A professional property manager takes care of the day-to-day operations, freeing up your time and ensuring that your investment property runs smoothly and profitably. Whether you choose to work with an independent property manager or a property management company, the right choice will help you achieve your investment goals and maximize your ROI in Lake Oswego.

CTA: If you’re ready to maximize your ROI through professional property management in Lake Oswego, contact us today for a consultation. Let our experienced team handle all the responsibilities so you can reap the rewards of your investment property.

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.

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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.

Despite the challenges posed by COVID-19, real estate remains a solid and lucrative investment for your future. In this article, I will discuss the advantages of owning rental property, offer tips for investing in rental property, and explore the trends in rental property investment post-COVID.

If you’re still on the fence about investing in Portland Rental Property, this article will share with you more information about investing in rentals in 2023 and beyond.

Introduction to Rental Property Investment

Investing in rental property is a popular way to build wealth and generate passive income. Rental property refers to real estate that is purchased to rent it out to tenants for a profit. This type of investment can take many forms, including single-family homes, multi-unit apartment buildings, and commercial properties.

One of the biggest advantages of owning rental property is the ability to generate passive income. When you own rental property, you collect rent from your tenants each month, which can provide a steady stream of income. In addition, rental property can appreciate over time, allowing you to make a profit when you sell.

Advantages of Owning Portland Rental Property

There are numerous advantages to owning rental property, including:

Steady Cash Flow

When you own rental property, you can generate a steady stream of income in the form of rent payments. This can provide financial stability and help you build wealth over time.

Appreciation

Real estate has historically appreciated over time, which means that your investment can increase in value as the property becomes more desirable and the local real estate market improves.

Tax Benefits

Owning rental property comes with several tax benefits, including the ability to deduct expenses such as property taxes, insurance, and repairs from your rental income. You may also be able to deduct depreciation on the property over time.

Control

When you own rental property, you have control over the Oregon property and the tenants who live there. This can give you a sense of security and control over your investment.

Rental Property Investment Statistics

The statistics show that rental property is a solid investment choice. According to a recent study by the National Association of Realtors, the median investment property sales price in 2020 was $470,000, and the median annual gross rental income was $39,000. In addition, 30% of all investment property owners reported that they purchased their property for rental income.

In another study by Roofstock, a leading online marketplace for rental properties, single-family rental homes had an average annual return of 8.7% between 2012 and 2017. This is higher than the average annual return of 6.7% for the S&P 500 index during the same period.

Tips for Investing in Rental Property

If you’re interested in investing in rental property, there are several tips you should keep in mind:

Research the Local Real Estate Market

Before investing in Portland rental property, it’s important to research the local real estate market. Look for areas with a high demand for rental properties and low vacancy rates.

Crunch the Numbers

Make sure to carefully calculate the potential costs and returns of your investment. Consider expenses such as property taxes, insurance, repairs, and property management fees, as well as potential rental income.

Consider Property Management

If you don’t want to manage the property yourself, consider hiring a property manager. They can handle tasks such as finding and screening tenants, collecting rent, and handling repairs.

How to Finance a Rental Property Investment

Financing a rental property investment can be challenging, but there are several options available:

Traditional Mortgages

You can finance a rental property investment with a traditional mortgage, just like you would with a primary residence. However, you may need to put down a larger down payment and meet stricter eligibility requirements.

Hard Money Loans

Hard money loans are short-term loans that are often used by real estate investors. They have higher interest rates and shorter repayment terms, but they can be a good option for investors who need quick access to cash.

Cash

If you have the funds available, paying cash for a rental property can be a good option. This can give you more control over the property and allow you to avoid interest payments and other fees.

Property Management for Rental Properties

Property management is an important aspect of owning rental property. It involves managing the day-to-day operations of the property, including finding and screening tenants, handling repairs and maintenance, and collecting rent.

Benefits of Hiring a Property Manager

There are several benefits to hiring a property manager for your rental property investment:

Time Savings

Hiring a property manager can save you time and allow you to focus on other aspects of your life and business.

Tenant Screening

Property managers can help you find and screen tenants, which can help ensure that you find high-quality tenants who pay rent on time and take care of the property.

Maintenance and Repairs

Property managers can handle maintenance and repairs for your property, which can save you time and ensure that the property is well-maintained.

Trends in Rental Property Investment Post-COVID

The COVID-19 pandemic has had a significant impact on the rental property market. However, there are still opportunities for investors:

Remote Work

The rise of remote work has made it possible for people to move to areas with lower costs of living and better quality of life. This has led to increased demand for rental properties in these areas.

Short-Term Rentals

Short-term rentals, such as Airbnb properties, have become more popular as people look for alternative travel options during the pandemic.

Tenant Screening

Tenant screening has become more important than ever as landlords look to ensure that their tenants can afford to pay rent and won’t default.

Risks and Challenges of Owning Rental Property

While there are many advantages to owning rental property, there are also risks and challenges to consider:

Vacancies

Vacancies can be costly for landlords, as they mean that there is no rental income coming in. It’s important to have a plan in place for filling vacancies quickly.

Repairs and Maintenance

Repairs and maintenance can be costly for landlords, and it’s important to have a plan in place for handling these expenses.

Tenant Issues

Tenant issues, such as non-payment of rent or damage to the property, can be stressful and time-consuming for landlords.

Conclusion – Why Rental Property is Still a Solid Investment for the Future

Despite the challenges posed by COVID-19, rental property remains a solid investment for the future. The advantages of owning rental property, including steady cash flow, appreciation, tax benefits, and control, make it an attractive investment option. If you’re interested in investing in rental property, make sure to research the local real estate market, crunch the numbers, and consider hiring a property manager. With careful planning and management, rental property can provide a reliable source of passive income and long-term financial security.

Contact Us

To learn more about the property management services we can offer you, for your Portland Rental Property, 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.

Tenant move-outs are a way of life for every landlord but what happens if a tenant doesn’t move out in time?

In this article, we will answer this question and offer you several tips on how to handle tenant move-outs when a tenant hasn’t moved out within 30 days.

What To Do If A Tenant Doesn’t Move Out On Time

It is incredibly frustrating when a tenant doesn’t move out in time. But to avoid these situations, it’s a good idea to find out why the tenant hasn’t left. Sometimes, the tenant doesn’t move because they need help finding a new place. Or they could be challenging an eviction notice.

Apart from the most delinquent tenant, it is usually possible to avoid situations where a tenant stays after the lease expires. Avoiding having holdover tenants in a rental unit can ensure you get regular rental income and avoid the cost and time of eviction hearings.

Here are a few reasons tenants don’t move out on time and what you can do about it.

Lack of clear communication with tenants

A common reason tenants don’t move out on time is a need for clarity in the rental agreement. The agreement should have a lease renewal clause stipulating what happens after a lease ends. Therefore, the rental agreement clarifies your expectations and what the tenant must do.

For example, the tenancy could become a month-to-month tenancy after the lease expiration date. Or you could state that the tenant must vacate the premises if they don’t renew the lease.

It’s also good to send advance notice that a lease renewal letter is approaching. This gives the tenant time to think about how they should act. And they have plenty of time to look for a new place if they plan on vacating the apartment.

Renew the lease early

You can often avoid holdover tenants by renewing leases early and giving them adequate notice. For example, although a 30 or 60-day notice is common, you could have a 90-day notice clause. This gives the tenant time to look for a new apartment during the current rental period.

However, always check with local and state rental laws about what constitutes proper notice.

The tenant ignores the lease expiration date

Some tenants chance their luck and hope to move to a monthly tenancy after the fixed-term lease ends. Even with months of notice, they may decide they love your unit so much they remain after the lease expires. But how long can they stay after the lease expiration date?

You have two options. First, you could let them become holdover tenants on a month-to-month lease. This may be possible if they are responsible tenants. However, your ultimate aim should be to renew a formal lease.

The second option is eviction. After the lease expires, you should send a notice to quit. Then file an eviction order at the local court and stop accepting rent payments.

The tenant disagrees with the eviction notice

The worst-case scenario is when a holdover tenant ignores the notice of eviction. They may have appealed the decision and refused to vacate the premises. In the first case, you must wait on the court ruling. However, if they don’t leave after a final decision, you can call the local sheriff and forcefully remove them.

How to Remove a Holdover Tenant

Removing a holdover tenant is a challenging process. But it must be done if they don’t move out on time after their lease has expired. Depending on the reasons for holding over after the lease expiry, you have several options, ranging from a friendly chat to a complete eviction.

Ask them to leave

Communication is always the first step when resolving issues with problematic tenants. Explain the lease terms, the notice you gave them, and any other relevant facts. Because staying after the lease expiry date is a violation, you can start eviction proceedings.

Most tenants realize an eviction is a black mark on their rental history, making it harder to find a new apartment. Additionally, seeking debt collection for unpaid rent could remain on their credit report for seven years and hit their credit score.

Depending on the tenant, you could ask them to leave within a few days. Or you could offer a tenancy at will for one month while they organize their affairs.

Cash for keys

You can offer a tenant “cash for keys” to leave if they don’t move out on time. This involves proposing to give them a cash sum if they turn over the keys on a specific date. The cash incentive could get the tenant out fast, avoiding a lengthy and costly eviction process.

How can you get a holdover tenant out with a “cash for keys” offer? Here are a few tips:

• Start with a lowball offer of around 10% of the monthly rent
• Arrange a date they will move their belongings out
• On the arranged date, inspect the property and ask them to resolve any property damage or cleanliness issues
• When you are satisfied everything is in order, get them to sign a document relinquishing their tenancy
• Hand over the cash
• Change the locks immediately

Remember, even with a cash-for-keys resolution, and you must still return the security deposit in line with state laws. For example, if necessary, you can deduct unpaid rent or the cost to repair property damage.

While this resolution is unfair to you, it can help resolve problems with bad tenants fast.

Evict the tenant

Eviction is the last resort when a tenant doesn’t leave the property on time. Unfortunately, evicting a delinquent tenant is the only legal way to remove them forcibly from the rental unit. In some states, you can file for eviction immediately without the specific notice to quit period.

However, it is crucial to refuse attempts by the tenant to make rental payments after the lease expiry date. This removes the tenant’s right to benefit from a tenancy at will or other holdover tenancies.

Unfortunately, the entire eviction process is long and drawn out. But if you have all paperwork in order, you can soon see the back of your bad-apple tenant.

Things you cannot do if a tenant doesn’t move out on time

When a tenant refuses to move out on time, you must ensure you are not guilty of illegal eviction. Here are some things to remember that you cannot do while waiting for a holdover tenant to leave the unit:

• Harass, threaten, or use force to get the tenant to leave
• Change the locks without their consent
• Refuse to make necessary repairs to keep the property inhabitable
• Arrange a self-help eviction
• Shuf off utilities
• Increase rent as a retaliatory measure for not renewing a lease in time
• Enter the property and remove their personal belongings

What if they are paying rent?

Getting a tenant with an at-will tenancy out of your property may be necessary. However, as long as they pay rent, the lease is active. Therefore, you must determine state laws about evicting holdover tenants paying rent.

In some cases, you cannot evict without cause. In that case, you must wait until the informal lease expires, or they get behind on rent.

What if they aren’t paying rent?

Not paying rent is a lease violation and gives you a reason to file for an eviction hearing. If you want them out of the property, start eviction proceedings. First, however, you must give the delinquent tenant proper notice. Again, state laws regulate the appropriate notice you must serve.

What if their lease has expired?

Determining how to act with a holdover tenant depends on individual circumstances. For example, you could continue to accept rent and then get them to sign a new lease. However, if they refuse to go and won’t pay rent, then you must evict them.

Remember — consult with the rental agreement and state laws before evicting a tenant after the lease expires.

What if there is no lease agreement?

A tenant without a lease agreement is considered a “tenancy at will.” In this case, you can terminate the informal tenancy at any time. Unfortunately, this doesn’t mean removing the delinquent tenant from the rental unit will be easy. According to state laws, you may have to serve a 30-day notice. However, some states require a 7-day or even no notice.

Dealing with a tenant who doesn’t move out in time can be frustrating. But, in most cases, clear communication and a well-written rental agreement can stop holdover tenants from becoming an expensive and time-consuming issue to resolve.

However, whether the tenant pays rent, you must always follow state laws. Therefore, seek legal advice and follow proper procedures to avoid potential legal issues with a holdover tenant.

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At 4 Rent Local, we specialize in local property management for the Portland Metro Area.

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

Some of the services we can offer you include: tenant move outs, accounting, rent collection, maintenance, customer service and more!

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

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.