Category Local Rental News & Tips

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

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

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

Landlord-Tenant Law 2022-2023

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

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

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

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

Small Claims Lawsuits in Oregon

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

Oregon Tenant Fees

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

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

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

Oregon Rent Rules

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

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

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

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

Tenant Rights to Withhold Rent in Oregon

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

Oregon Termination and Eviction Rules

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

Month-to-Month Tenancies

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

Tenants With Leases

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

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

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

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

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Contact Rent Portland Homes – Professionals

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

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

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

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

What is a Pet Policy?

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

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

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

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

Why Are Landlord Pet Policies Important?

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

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

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

What to Include in Your Landlord Pet Policy

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

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

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

Questions to Ask Prospective Tenants Before Including a Pet Clause

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

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

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

When You Should Require a Security Deposit for Pets

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

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

When You Should Not Accept Pets as Tenants

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

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

Conclusion

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

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

Contact Us

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

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

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

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

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

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

Keep It Simple

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

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

Find The Right Tenants 

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

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

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

Step 2: Know Your Rights as a Landlord

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

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

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

Step 3: Advertise Your Property and Select Tenants

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

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

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

Step 4: Set the Right Terms for Your Contract

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

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

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

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

Step 5: After Finding Excellent Tenants

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

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

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

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

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

Step 6: Hire A Property Manager

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

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

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

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

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

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

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

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

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

How to Find Properties That Earn You Rent

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

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

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

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

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

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

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

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

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

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

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

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

3 Types of Properties that Will Earn You Cash Flow

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

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

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

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

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

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

Wrapping up

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

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

Contact Us

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

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

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

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.

More

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.

More

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.

Vacancy is something that every landlord must be ready for sooner rather than later because is comes with owning rental properties in Beaverton Oregon, and elsewhere in the United States.

Thankfully, landlords can lower vacancy rates while increasing renewals by following these tips.

Tips For Lowering Vacancy Rates

One of the best things that every landlord can do to reduce vacancies at their rental properties while increasing renewals is to build a relationship with their tenant.

The relationship starts from day one; they should let that tenant know they’re welcome to live in their rental property by providing them with a gift basket containing the essentials that a tenant might need to get started in a new home.

Some of the most common essentials that every tenant is going to need when moving into a new home include:

• Cleaning supplies
• Toilet caddy
• Broom with dustpan
• Vacuum cleaner
• Trash bags

Once the gift basket is given, the landlord should next show the tenant that there are multiple ways for them to connect with the landlord including calls, texts, or emails.

The tenant must know that anytime they need to reach out to the landlord, the landlord is going to be accessible to assist them with any problems that they may be experiencing at their rental property instead of having their issues left unanswered.

As a landlord invests in more rental properties in Beaverton Oregon, the calls that they receive from their tenants are only going to increase. Therefore, every landlord should consider outsourcing those calls to a live answering service so that they could keep their cell phone out of the contact loop and avoid after-hours calls.

What’s even more ideal is for a landlord to outsource the management of their rental properties to a qualified property manager like Rent Portland Homes – Professionals. Our team offers live customer service that’s available to assist tenants with all their questions, problems, or concerns that they might have.

Tip #2 – Be willing To Accept Feedback

Another simple thing that landlords can do to lower vacancies at their rental properties is to be willing to listen to feedback from their tenants.

Even though not every recommendation is going to be a good idea, if the tenant’s feedback is simple, cost-effective, and easy to implement, the landlord should be willing to act upon that feedback because this will show the tenant that the landlord is taking their feedback into consideration and values their input.

Landlords should provide their tenants with a simple method for submitting feedback either via text message, contact form on their website or by submitting written feedback to the landlord at their office.

Tip #3 – Approach Tenants Early About Lease Renewals

Another effective thing that landlords can do to reduce vacancy rates while increasing renewals is to approach their tenants early about lease renewals.

This means that instead of waiting until 30 days before their tenants are due to renew their leases, landlords should approach their tenants at least 90 days in advance to get their feedback on renewing for another 12 months.

This is a smart thing to do because a tenant may be hesitant to renew their lease because they feel that their feedback or maintenance requests have gone unanswered by the landlord.

Approaching the tenant early about lease renewals gives the landlord time to address the tenant’s concerns, resolve issues, and show that them they’re willing to go the extra mile to continue earning that business for another year.

Tip #4 – Offer Incentives for Lease Renewals

In cases where the landlord can still not get the tenant to renew their lease for another year, the landlord should consider offering them incentives or perks for renewing.

Depending upon if it’s a single-family or multifamily unit in a rental property, landlords should consider offering their tenants incentives like:

• Cash incentives
• Gift cards
• Unit upgrades or enhancements
• Free wi-fi
• Free gym membership
• Amazon Prime subscription

Incentives are always something that every landlord should use to increase lease renewals while lowering vacancy rates at their rental properties.

Besides offering incentives, landlords should also consider allowing their tenants in their rental properties as well.

Even though a tenant may not currently have a pet right now, it’s possible that they could be thinking about buying one soon and are in the process of looking for a pet-friendly rental property.

Seventy percent of U.S. households, or about 90.5 million families, own a pet, according to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA). This is up from 56 percent of U.S. households in 1988, the first year the survey was conducted, and 67 percent in 2019.

Source – https://www.iii.org/

Allowing pets will keep good tenants living in the rental property while also providing them with the convenience of being able to have a pet versus them moving out of a property that they might enjoy, in favor of searching for a pet-friendly rental in the area.

Remember, incentives that may work for tenants in other cities or states may not work for tenants in the Beaverton area so owners should also take the time to research incentives/concessions that other local landlords are offering their vacancy tenants before they decide on what they should offer.

Contact Us

At Rent Portland Homes – Professionals, our team specializes in local property management for Beaverton, Portland, and the surrounding area.

We save owners the time, money, and hassle of managing rental properties so they can continue enjoying passive income from their properties without having to get bogged down with day-to-day property management.

Besides helping owners’ lower vacancies while increasing their renewals, some of our other services include rental property marketing, evictions, customer service, maintenance, accounting, and more.

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