By Property Management Systems
Are you searching for Portland Oregon Property Management Tips? If so, you’ve come to the right place! In this article, we will provide you with valuable tips you can use for handling turnovers, that in between time in a landlord’s life while they are searching for the next tenant to rent their property.
Best Tips for Handling Turnovers
It doesn’t matter if you’ve owned rental properties for years, or you just purchased your first rental property, turnovers can sometimes be a stressful time of the year because they mean that your rental is going to be unoccupied and you may have to pay more bills or expenses than you are normally accustomed to paying.
Thankfully, turnovers don’t have to be a stressful time of year if you follow these tips.
You don’t need an empty unit before the property can be listed. As soon as you know you have a vacancy coming up, get the word out through high-quality rental property listings that highlight the best features of the home. Do whatever you have to do within reason and the confines of the law to get a new tenant in as soon as possible because every day your unit sits empty is another dollar lost.
- Paint the walls
Standardize your colors in a neutral shade like khaki, which shows less dirt than white and helps create a warmer feel. When it comes to trim, stay away from white there, as well. Dark trim can be eye-catching if done right and can prevent you from having to re-paint every time your unit turns over. Choose an eggshell finish over a matte which marks up quickly or satin that will show every time you touch it up. Don’t forget the baseboards. In high traffic areas, those may be in the most need of touch ups.
- Invest in high-quality updates
Investing in key updates will save you time and money in the long run and a make a great impression with
can make a big difference when it comes time to get your property ready for the next tenant.
If you’re prepared to spend a little extra, do so on the floors. Tile is a worthwhile investment, particularly in bathrooms prone to water damage. For a property located in an area of the country that experiences heavy rain or snow, a small investment in tiled entry can be a wise investment. If you can afford it, ditch that laminate in the kitchen and replace carpeted areas with hardwood floors.
- Evaluate the exterior
Pay attention to the outside. Often, prospective tenants will drive by and make a visual inspection before they decide to make official contact. Don’t let great tenants slip away due to a lack of curb appeal. Spruce up your flower beds, make sure the lawn is trimmed, and touch up any chipped paint on the home.
- Put the finishing touches on the home
Before a new tenant moves in, make sure the home is deep cleaned and that photos have been taken to document its condition.
To protect your new tenant’s safety, make sure to change all locks. Investing in locks with re-keying technology can save time and money long-term.
If you plan ahead, are thorough, and make good decisions, quick turnovers can be far more manageable for you and your property owners.
Would You Want to Live in Your Rental Property?
As long time Portland Oregon Property Management professionals one of the biggest mistakes that we’ve seen owners make over the years is not taking the time to ask themselves if they would want to live in their own rental properties because, if the average owner were, to be honest with themselves their answer would most likely be no.
Why? The reason why most landlords wouldn’t want to live in their rental properties is that they rush through a turnover with the goal of quickly renting out their property to the next tenant instead of taking the time to really look at their rental through the eyes of their ideal tenant.
Besides following the tips in this article some of the other things you should do to get your Portland rental property ready for the next tenant should include:
- Professional Cleaning – If you’re not able to give your rental property a deep cleaning yourself, especially those hard to reach areas, you should hire a professional cleaning company to deep clean your property because a dirty rental will paint a negative impression in the mind of a tenant and make them not want to live in your property.
- Invest in Quality Upgrades – Although you may be ready to make upgrades to your rental property you should only commit to investing in “quality upgrades” because, quality over quantity will win out every time, especially if you can only invest in one or two small upgrades for your rental instead of many.
- Eliminate Smells – Let’s face it, every home has a “smell” and if your Portland Oregon Rental Property smells more than most homes you should go all out with eliminating smells because those smells could paint a nasty picture in the mind of a renter and cause them to change their mind about living in your property.
Get Portland Oregon Property Management
Tired of managing your rental property yourself?
Yes, you may be able to continue managing one or more of your rental properties but as you add new rentals to your portfolio your responsibilities will only grow, especially when it comes to maintenance, tenant screening, and rent collection.
Stop wasting your valuable time managing your rentals; save time and money by choosing the leader in Portland Oregon Property Management.
Contact the team of expert property managers at Property Management Systems today by calling us at (503) 515-3170 or click here to connect with us online.