As someone who owns Portland Oregon Rental Property, you know that it’s not always possible to raise the rents to increase your profitability. This doesn’t mean that you should try to increase your profits though, there are a variety of other ways that you can increase the profits from your PDX rental simply by following these tips.
Shop Around for the Best Deal on Insurance For Your Portland Oregon Rental Property
As a Portland houses for rent by owner, you know that insurance is a vital part of your business because landlord insurance protects you financially should something happen to your rental property.
Sadly, insurance costs go up and down all the time but the good news is that you don’t have to overpay for landlord insurance if you take the time to search for more affordable insurance rates every 3-6 months to make sure that you’re paying the most affordable rate possible.
Don’t Just Look at Rental Rates, Look at What the Future Holds for The Location
Depending on where you plan on buying a Portland Oregon Rental Property, you should also be looking at what the future holds for the location where the property is located.
For example, before purchasing a new PDX rental, you should specifically be looking at data like what’s happening with area jobs market, amenities that may be nearby, current listings for cheap houses for rent in Portland Oregon, Portland houses for rent dog-friendly, and of course vacancies as well.
Besides doing all of the above, you should also be looking into what’s possibly in store for the area including if future development is on the horizon. New developments or buildings could affect your tenant’s desire to stay in the property or move should that development affect their views.
Consider Exploring Off-Market Deals
Another thing that you can do to increase the profits that you enjoy as a Portland Oregon Rental Property Investor is to start exploring off-market deals.
Off-market deals potentially can be very attractive for investors because if you can contact the owner of the property directly, they may be interested in selling their property to you even if it’s not currently listed for sale in Portland.
The best way to find off-market deals is to hire a Portland Oregon Property Management company because your property manager can save you the time, money and hassle of searching for off-market deals yourself so you can continue managing your time efficiently.
Rent Portland Homes is one of the top Residential Property Management firms in the Portland area marketplace!
The time and effort involved in running and maintaining a rental property can quickly become overwhelming. Sometimes you only need help in filling a vacancy, or the thought of being “invisible” to the tenant’s appeals to others.
Rent Portland Homes is a Professional Property Management Company that specializes in the management of single-family homes, small multiplex units, and large apartment communities throughout Portland, Oregon.
Our State licensed and accredited property managers have heightened expertise and industry knowledge to assist them in doing the best possible job for you. They are real estate professionals who know first-hand the unique challenges of managing Portland Oregon rental property in today’s constantly changing economic and legislative environment and they know how to manage those challenges to everyone’s benefit.
Rent Portland Homes can maximize rents and income for you; and we will manage the property efficiently, professionally and economically.
Take the Time to Strategize Before Paying Your Taxes
We’ve covered a lot of information in this article so far that you can use to increase the profits from your Portland Oregon Rental property. Another great tip that we have for you is to take the time to strategize before paying your taxes.
Since paying your taxes is one of the most important things that you will be doing as an investor, you should be keeping all of your financial records during the year. You should also work closely with an accounting professional who will be able to provide you with the best advice for taking advantage of all the tax deductions that you can as well.
Taking the time to strategize your taxes will help you to keep your tax bill very low while helping you to increase your profits too each year.
Hire A Property Management Company For You Portland Oregon Rental Property
As we stated above, hiring a property management company is a great way to find off-market deals including connecting with owners who may have craigslist Portland rental houses or single-family homes for rent Portland Oregon that they may consider selling.
When you hire a property management company like Rent Portland Homes, we will save you the hassle of managing your duplex for rent Portland Oregon, farmhouses for rent in Oregon, or other rental properties yourself.
Our team of property managers is experts at tasks like tenant screening for houses for rent Gresham or, tenant selection, rent collection, maintenance, customer service, and more!
Contact Rent Portland Homes
To learn more about the property management services we can offer you contact us today by clicking here to connect with us online.