It doesn’t matter if you’ve owned rentals for years, or you’re just getting started, one of the keys to success with owning rental properties in Portland Oregon, or elsewhere in the United States is to keep your rentals in move in ready condition.
Keeping your rentals move in ready is important because, this will enable you to rent them quickly, and limit any profit losses you may have if you have to wait weeks or months between tenants while you are making repairs to your rental properties.
What does “move in ready” mean?
This term refers to a house or property that is ready for immediate occupancy. A property in this condition must meet all requirements by the city or governing municipality as a habitable dwelling, which usually include operable plumbing, electricity, locking doors and windows, and passing certain required pest inspections. Specific rules for determining habitability may vary from location to location, however all requirements are readily available at the appropriate city agency or department.
Source – Business Dictionary
In this article we will share with you several tips you can use for keeping your rental properties in move in ready condition.
Tip #1 – Make Maintenance a Priority
From the moment that you have a new tenant move in you should make maintenance a priority and inspect the rental property quarterly to verify if it’s condition and see if it’s in need of any maintenance or repairs.
Regardless if you inspect your rental property yourself, or have one of your employees inspect it for you, it’s also best to use video and photo documentation so you can track the condition of the rental property and stay on top of any potential problem areas that may need to be repaired in the future.
Besides regularly inspecting your rental property you should also encourage your tenants to call or email you if they spot maintenance problems or issues that need to be resolved and when they do contact you it’s best to acknowledge your tenants and resolve the maintenance issue.
Failure to do so will only result in your tenants not contacting you in the future when they have another maintenance problem that needs to be resolved, and this could mean that a small maintenance issue could turn into a bigger problem, so it’s best to make communicating with your tenants about maintenance a top priority.
For staying on top of property maintenance you should also consider using an online calendar or scheduling program so you can stay on top of maintenance tasks like: pest control, painting or roof inspection.
Tip #2 – Hire Qualified Property Maintenance
Another important way you can keep your rentals in move in ready condition is to hire qualified maintenance companies like: gardeners, handymen or cleaning companies to work on your properties, instead of people who offer you the lowest rates, because, even though they may be cheap, that doesn’t mean they are going to offer you the best service.
To hire the best maintenance company you should: search online, read feedback from current or former clients, verify their membership associations, and business license information, and make sure that they are bonded / insured.
Keep in mind when hiring a maintenance company you should also search for a company that offers excellent customer service because, you want to have confidence that someone will be available to take your call, even if you contact them during evening hours or on weekends.
Tip #3 – Use the Right Data Management Systems
As your portfolio of rental properties grows it’s also important to switch to a data management system that will enable you to properly document your rentals, save receipts, keep invoices and other documentation related to your rental properties on your computer, or over the internet, so you don’t have to create a paper trail.
If you decide not to use a CMS, one of the best things to do is set up a Cloud Based storage solution like Dropbox so you can access your files wherever you are, and share files with your employees or other professionals when needed.
Tip #4 – Develop a Move out Maintenance Plan
As a property owner one of the best things you can do to keep your properties in “move in ready” condition is to develop a move out maintenance plan so that the same things are done to maintain your rental properties every time a tenant moves out.
Some of the things you should add to your move out maintenance plan include:
- Painting inside the rental.
- Pest / termite control.
- Carpet/floor cleaning and or replacement.
- Clean windows inside / out.
- Check the roof and repair/replace roofing material when needed.
- Inspect plumbing and clean drains.
- Clean HVAC system and replace air filter.
- Mow, trim landscaping and add new flowers / plants where needed.
Tip #5 – Outsource Property Management
Last of all, but most important, as your portfolio of rental properties grows you will come to the point where it’s time to outsource property management because, managing multiple rental properties can become complicated especially when you have to do everything yourself.
At Property Management Systems we can offer you a team of experienced property management professionals who specialize in everything from property maintenance, to rent collection, so that you can have confidence that all every aspect of property management for your rental properties are handled on a monthly basis.
Property Management Systems 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.
Source – Property Management Systems
Learn more about the property management services we can offer you by calling us at (503) 515-3170 or click here to connect with us online.