By Property Management Systems
Are you thinking about hiring a Portland Oregon Property Manager to professionally manage your portfolio of rental properties and are wondering what a property management company can do for you? If so, you’ve come to the right place.
Hiring a property manager in Portland Oregon is a smart thing to do because it will save you the continued time, money and hassle of managing those rental properties yourself.
With more time on your hands thanks to hiring a property management company you can trust, you will finally be able to focus on growing your portfolio without the hassle of managing those additional properties yourself.
In this article we will share with you what exactly a property manager will do for you so you will know what to expect when you ultimately hire one.
Get To Know A Portland Oregon Property Manager
The first way we help you with your home for rent in Portland Oregon is by finding the right tenants for your rental property and then maintaining a great relationship with that tenant so they will want to continue renting your single family home, condo or townhome for years to come.
We Do More Than Collect Your Rent
Besides just collecting rent, we will also set the “correct” rent for your property for rent in Portland Oregon so you can earn the most rental income possible from your property. Once the rent is collected we will also deposit the funds into your account, or mail you a check in a timely fashion, so you don’t have to worry about dealing with tenants yourself.
One of the most common “complaints” among owners is that they never have enough time for themselves or their families since they are always busy dealing with repairs or maintenance issues for their properties.
We simplify the process of owning a home, condo, townhome or single family home for rent in Portland Oregon by handling all of the ongoing maintenance issues for you so you can focus on living your life without having to deal with the possibility of another call for help from your tenants again.
More Reasons To Hire A Property Manager
Besides the reasons to hire a property manager, mentioned above, some of the other key points or reason for hiring a professional property management company to manage your rental properties include the following:
1. No More Wake-Up Calls
There’s a problem at the rental, and as the landlord, it’s your job to fix it. With a property manager, you’ll be able to say goodbye to late-night emergencies. When a problem arises, the property manager will get the call and respond accordingly.
2. Turbocharged Tenant Sourcing and Screening
Property managers have access to a wealth of resources that enable them to find new tenants faster, helping you to keep those vacancy rates down. Not only that, but they’re also able to thoroughly screen tenants. They know what to look for and what questions to ask.
3. Regular Maintenance and Repair Help
With a property manager, you don’t have to be the on-call maintenance person/gardener/pool boy anymore. Your property manager will perform routine maintenance for you, preventing small issues from getting out of control. When repairs are in order, the property manager will show up on-site at the first sign of trouble. Since they deal with this type of thing all the time, they’ll also have a database chock full of vendors and contractors who do reputable work at fair prices.
4. Avoid Messy Legal Problems
Keeping up with landlord-tenant law can be tedious and quite costly if you’re not up to speed. New regulations are constantly coming into effect, and staying out of trouble depends upon your compliance with these laws. A professional property manager should be experienced with landlord-tenant law and able to navigate the various complexities to make sure you stay on the right side of it.
5. Get the Income Balance Right on Your Properties
According to Rent.com’s 2014 Property Owner and Manager Report, 85 percent of property managers reported raising their rental rates in 2013. An experienced property manager who knows the market is familiar with that sweet spot: the amount of money that you can realistically charge without risking longer vacancy rates.
6. Keep an Eye on Your Property Without Having to Watch It
Whether you’re a long-distance landlord or just down the block, keeping a close watch on your property is important. Having a property manager means that your home will be checked on routinely. This is especially important during vacancies, as empty properties are prime targets for vandals. A property manager will be able to keep the property well-maintained, giving it a lived-in, occupied appearance.
7. Stop Being the Bad Guy
As landlord, it’s your job to enforce the terms of the lease. Unfortunately though, this is easier said than done. When a tenant brings in one too many dogs or there’s an issue with smoking indoors, things can get ugly. With a property manager, you don’t have to show up and try to reason with the tenant who’s arguing the merits of turning backyard trees into firewood. Instead, let your property manager handle it.
8. Never Hear “The Check’s in the Mail” Again
The check is always in the mail! As a property owner, you depend on the rent arriving each month on time. When this doesn’t happen, there’s often a tremendous amount of time and effort involved with tracking down the rent. Letting late rent slide can create a situation where the tenant is able to live in your property rent-free, for as long as it takes to evict them. A property manager will be your no-nonsense rent collector and will take immediate action if the rent is late. They’ll document all steps taken and remain in compliance with the law.
9. No More Dreaded Evictions
Evictions are the bane of every landlord, and understandably so. There’s a tremendous amount of red tape surrounding the lawful eviction process, and no, changing the locks while the tenant’s out just isn’t an option. A good property manager is on the ball and able to handle evictions for you — quickly, efficiently, and in compliance with state code and regulations.
10. Have the Freedom to Invest in Better Housing Markets
Finally, property managers make life easier — so much easier, in fact that you may be tempted to get yourself a few more rental properties. With a property manager, you’ll even be able to invest in properties that are out of town; since you won’t be managing them yourself, it won’t matter where you invest. This allows you to take advantage of more affordable or growing housing markets.
Owning rental property can be a great investment. But, as you can see, having a property manager can make your life so much easier. If you own rentals, but are feeling overwhelmed, do yourself a favor and look into getting a property manager to take some of the load off. You won’t regret it!
Contact Property Management Systems
For more questions about what to expect from hiring a property manager, or to speak with us about managing your portfolio of rentals, contact Property Management Systems today by calling us at (503) 515-3170 or click here to connect with us online.