Property Management Tips For New Landlords

Are you just getting started with owning your first rental property? If you’re a new landlord there’s a good chance that everyone is offering you tips for how you should manage your rental property but the truth is that some of those tips may not be correct. 

To save you the time, money and hassle of making the wrong decisions with your rental property we’re going to list for you several points to consider that will help you to be a better landlord and manage your properties successfully.

Rule #1 – Be Consistent

As you build your portfolio of Portland Oregon Rental Property it’s important to remember to always be consistent in everything you do including running credit checks on all potential renters, making promises about repairs and dealing with all of your renters the same way versus showing “favoritism” to one renter compared to another.

Rule #2 – Always Check References

One of the biggest things you’re going to experience as you interview prospective tenants if that some people will make up information to add to their rental applications including work references, personal references or financial data and it’s always vital to check and verify those references before renting to someone.

Rule #3 – Document All Aspects of Your Rental Business

During the time that you own Portland Oregon Rental Property make sure you document everything including keeping copies of rental applications, credit reports and before/after pictures of your rentals just in case you need them for legal purposes.

#4 – Do Right By Your Renters

Last of all, but most important, always do right by your renters and seek to offer them the best rental experience possible by making sure that your rental property is thoroughly cleaned before someone moves in and has up to date features plus a fresh coat of paint.

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To learn more tips that you can use to get started with owning Portland Rental Property contact Property Management Systems today by calling us at (503) 515-3170 or click here to connect with us online.

 

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