Property Management Blog

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This blog features Portland Property Management news, tips, information and education.

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rental properties

10 Tips for Furnishing Rental Properties on a Budget

Furnishing rental properties on a budget can be a tricky task, but it doesn’t have to be intimidating. With a few simple tips, you can give your rental a look that both you and your tenants will love. Whether you’re looking to create a cozy, inviting atmosphere or a modern, chic space, there are plenty of ways to furnish your rental property without breaking the bank. From finding budget-friendly furniture to upcycling existing pieces and accessorizing with affordable décor, these 10 tips will have you creating stylish and budget-friendly spaces in no time. Invest in multipurpose furniture One of the

multifamily vs single family

What are the Advantages of Single-Family Homes vs. Multifamily Homes?

In today’s world, people are looking for more than just a place to live. They want a home that gives them fulfillment and a sense of community. And with renting being the fastest-growing housing market segment due to millennials delaying home ownership, the demand for multifamily properties continues to grow. To know more about multifamily homes vs single-family homes, keep reading. What’s the difference between multi-family homes and single-family homes? Multifamily homes are buildings that have multiple units, such as apartments, condos, or townhouses. On the other hand, single-family homes are detached properties that each have one unit. Typically, single-family

rental properties

How To Manage Rental Property Maintenance In The Winter

  Owning your own rental property is a great way to help fund your retirement, let’s face it, it’s not like many of us have pensions anymore. But, it’s also a lot more work than most people think. You need to research the best areas to buy, find homes that are for sale (ideally at a good price), negotiate with sellers and make sure the inspection goes smoothly once you do buy it. With any property there are always maintenance concerns but in the winter there are some unique challenges around properties. Frozen pipes and burst water heaters can be

Tips for Buying a rental Property in The Right Location

Looking for your perfect rental property can be an exciting but also daunting experience. Especially when you’re on the hunt for a property that ticks all the boxes. There are many things to consider when buying a rental home, from budget and location to maintenance costs and potential resale value. If you’re looking to buy a property in a specific area, finding your perfect home in that location is likely to be trickier than if you were open to properties anywhere in the city or county. That said, there are ways to increase your chances of success when it comes

investment property

8 Tips to Buy an Investment Property That Will Become Your Worthwhile Moneymaker

Are you thinking of investing in an investment property to grow your savings? If so, you’ve probably realized that they aren’t all created equal. Some properties will no doubt return less than stellar returns on your initial investment, while others may make you rich beyond your wildest dreams. The trick is knowing how to spot the good ones from the bad ones…before you spend all that money! If you are new to the world of real estate investing and aren’t sure where to begin when it comes to identifying properties that will reward your efforts in the long run, we

Portland Metro Property Managemen

Has Rent Growth Finally Peaked?

The rental market has affected everyone over the last 5 years, especially Portland, where rents have increased dramatically but the BIG question is has rent growth finally peaked? This is an important question to ask because we have more people than ever before who are renting vs. buying. In this article we will share with you more information on where the rental market is now and if rent growth has finally peaked, or not. What’s Happening With The Rental Market? There are many different sources and ways to measure rent, but none are perfect. However, by every measurement I’ve seen

rental

How does a rental property make money? There’s more ways than you think

Are you thinking about renting your home or investing in rental properties locally? If so, there are a wide variety of ways that rentals make money. In this article we will share you several ways that rental properties make money so that you know how to get more ROI from your property and portfolio. Appreciation Probably the most popular form of profit when people think of rental properties, appreciation has been a consistent performer over time and one of the biggest players in what makes people so wealthy from real estate. Appreciation is when the value of a property increases

pets

What should tenants require from tenants who have pets?

If you ask most landlords, they will tell you a good or bad experience that they’ve had with allowing pets in their rental properties. Sadly, this is to be expected because the rental market has lacked standards when it comes to allowing pets. Thankfully, landlords can remove the mystery of what to look for when allowing their tenants to have pets, especially if they follow these tips. Ask For Pet references Your tenant application should have a spot on it about pets so you can make a determination before you get to the table to sign the lease. The lease

5 ways to increase the value of your Portland apartment building

Do you own a Portland Oregon apartment building? If so, like most owners, you’re searching for the best ways to increase the value of that investment property. Sadly, in today’s economy it’s getting more difficult for owners to increase the value of their properties due to inflation and recession. Thankfully, owners can easily increase the value of their properties by following these tips: Improve curb appeal  If your Portland Oregon apartment building still looks like it’s stuck in the 1970’s, it’s time to bring it forward to the 21st century by improving curb appeal. Start by renovating your tired, overgrown

rental property inspections

Why Are Rental Property Inspections So Important?

One of the keys to success with owning rental properties in Portland Oregon, or elsewhere nationwide, is having regular rental property inspections.   Property inspections are important because they save owners the hassle of having to fix problems and make extensive repairs that could have been less costly to resolve had they been found earlier. Some landlords may be opposed to regular rental property inspections because they want to give tenants their space, but the reality is that having periodic inspections also ensures that tenants follow their landlord’s rules. When To Have Rental Property Inspections Depending on the lease, landlords

tenant

Tenant Screening Tips for Selecting the Most Qualified Renters

Are you searching for tenant screening tips? If so, you’ve come to the right place! Tenant screening has become more important than ever before because the rental market has changed, and it’s imperative for landlords to take the time to invest in screening renters before placing them in their properties. Thankfully, it doesn’t matter if you’ve owned rental properties for years, or if you’re just getting started, you can excel at tenant screening by following these tips. Tip #1 – Watch for Tenant Red Flags Your number one goal as a landlord should be to rent to someone who is

rental properties

Property Management Tips – What Is Normal Wear and Tear?

Do you own rental properties in Portland Oregon? If so, when your tenants move out, one issue that you’re going to have to deal with is defining what’s normal wear and tear vs. damage to the rental property. This is important because the battle between damage vs. wear and tear with landlords and tenants can be very costly to resolve and time-consuming. In this article, we will provide you with several examples of rental property normal wear and tear vs. damage so that you know what to look for in your rental property once your tenants move out. Defining Wear

real estate

Passive Vs. Active Real Estate Investing Explained

Real estate investing continues to be an excellent way to produce cash flow while building wealth, especially in 2022, as multiple stock market crashes have hit many investors hard. If you’re thinking about getting started with real estate investing, you’re making a smart choice, but you must make sure that you’re investing in passive vs. active real estate investments. What Are Passive Real Estate Investments? Passive REO investments are investments that are easy to manage and, in many cases, all you must do is collect a check or payment monthly. Some of the most popular passive real estate investments include

SE Portland Homes

Reasons To Hire a Professional Property Manager in Portland Oregon

Are you debating if you should continue with managing your rental property in Portland Oregon, or hire a professional property manager? If so, you’ve come to the right place! In this article, we will share with you several reasons to hire a property manager and how they can help you to earn consistent income from your rental properties. Reason #1 – Consistency From the moment that you hire a property manager you can expect consistency with every aspect of your rental property from the rent being collected on time each month to excellent service and support for your tenants. Reason

portland rental properties

Maximize Your Tax Savings With These 3 Alternatives To Selling Your Investment Property

Every investor asks at some point: “should I sell my investment property?” Whether preparing for retirement or considering cashing in on a hot seller’s market before it turns cold, you may want to look at all your options. There are a few key things to consider when selling an investment property and a few alternatives that can help maximize your tax savings.  Here are my suggested top three alternatives to selling your investment property. 1. 1031 Exchange One alternative to selling your investment property is utilizing a 1031 exchange. A 1031 exchange allows you to essentially swap your investment property for

investors

How To Quickly Resolve Maintenance Issues at Your Portland Rental Property

Keeping your Portland Oregon Rental Property well-maintained is one of the keys to success with owning a rental property that produces consistent ROI. Sadly, many owners fail consistently at rental property maintenance, and they often find themselves with disgruntled tenants and the prospect of having new renters every 12 months. Thankfully, you can resolve maintenance issues at your rental property quickly by following these tips. Tip #1 – Make Sure Your Tenants Know Their Responsibilities at Your Portland Rental Property One of the most important things to do when you own a Portland Rental Property is to make sure your

Rent Portland Homes

How To Get Rid Of Bad Smells At Your Rental Property

Tenant move-outs are a fact of life when you own a rental property, as is the process of getting the rental ready for your next tenant. During the process of cleaning the property, you may find that your last tenant has left the property with smells that continue to linger after they’ve moved out. Smells should be eliminated quickly because some people have a strong sense of smell and they may be deterred from submitting an application to live in your rental due to the smell that they noticed while touring the property. Thankfully, getting rid of smells in a

real estate

First-Time Landlord Tips For 2022

If you just invested in your first Portland Oregon rental property, you’re probably looking for first-time landlord tips because you are now a first-time landlord, and congratulations are in order since you’ve made an investment that will generate passive income, even during times of economic instability. During the process of getting started with owning your rental property, there are a variety of things that you should know that will help you earn the most passive income possible including the following: First Time Landlord Tip #1 – Always Treat Your Rental Property as A Business The most important thing that you

Should Landlords Use Venmo Or PayPal to collect rent?

Owning rental properties is an ideal way to build wealth while establishing passive cashflow but when it comes to rent collection there are a variety of tools that can be used to collect rent including Venmo and PayPal. Even though these tools are easy to use for collecting payments, the big question is should they be used for collecting rent? In this article we will answer this question and offer you insight into if PayPal or Venmo should be used for rent collection. Should Venmo Or PayPal Be Used For Rent Collection  Technological advancements impact the way we exchange goods

rental property

Introduction to rental property investment analysis

Are you planning on buying a rental property for the first time? If so, you’ve come to the right place! Investing in a rental property is a smart choice because rentals are an excellent hedge against inflation and they continue to earn steady ROI during tough economic times. In this article we will share with you an introduction to rental property investment analysis. Different-sized properties require more or less analysis, but consider this guide your 101-level primer to analyzing any multi-unit residential property—from two-unit duplexes to 500-unit complexes. This analysis even works for single-family rentals, but keep in mind that

Tips For Limiting Tenant Turnover

Tenant turnover is going to happen when you own rental properties. The good news is that you can limit turnover and keep tenants for longer periods of time, especially when you follow these tips. How To Limit Tenant Turnover Focus On Tenant Screening – The quality and longevity of your tenants all relates to one thing, tenant screening. Thanks to the Internet, tenant screening has never been easier because online tools make it possible for you to easily find the most qualified tenants for your rental properties. Get To Know Your Tenants – From day #1 it’s best to form

Preventative Maintenance

Preventative Maintenance – The Key To Costly Repairs At Your Rental Property

Owning a Portland Rental Property is a great way to build wealth and passive cashflow but, repairs can also be very costly. This is why preventative maintenance is the key to consistent ROI. Thankfully, costly repairs can become a thing of the past if you start using these preventative maintenance tips to take care of maintenance before it becomes a headache. Preventative Maintenance Tip #1 – Look For Safety Issues Safety should always be the first priority at your rental property because of the simple fact that if the property is unsafe, you create potential liability issues for yourself. Safety

rent collection

Rent Collection Tips – What to Do When Your Tenants Don’t Pay

Rent collection is the most important part of owning rental properties because of the simple fact that if tenants don’t pay, no money comes in and you must cover the mortgage plus other expenses yourself. Sadly, more than 3.7 million renters get evicted every year and the sad truth is that most evictions can be avoided if the landlord utilizes one of these solutions. Solution #1 – Enforce Your Rent Collection Policies If you already have rent collection policies in place, it’s best to focus on enforcing them because if a tenant knows that they can get away with paying

property

Property Management Tips – How To Keep Your Property Safe And Secure

In 2022 there’s no doubt that rental property is still a smart investment but it’s more important than ever before to ensure that your properties are safe. If it’s been a while since you’ve visited your PDX rental property, this article will offer you several tips you can use to ensure that it’s safe and secure. Tip #1 – Make The Entryway Safe And Secure It doesn’t matter if you own multifamily rental property in Portland, or a single-family rental, the entryway to your property must be safe for your tenants because crime often occurs when people come home. Start

tenant

Tips For Improving Communication With Tenants

Tenant communication is one of the most important parts of being a landlord because, you want your tenants to have peace of mind in knowing that they can contact you regardless of the reason. Sadly, most tenants feel like they have poor communication with their landlords and this is often why problems occur in the landlord-tenant relationship. Thankfully, you can easily improve communication with your tenants by following these tips. Tip #1 – Give Your Tenants Multiple Ways To Contact You Let’s face it, in today’s world it’s not hard to have multiple ways for people to reach you so,

rental property

How To Know If You’re Buying A Good Portland Oregon Rental Property

Even though you know that it’s a good decision to invest in a rental property, the reality is that there are several other factors that you should look at to determine if that Portland Oregon Rental property will indeed be a good investment or not. In this article, we’ll break down what you should be looking for before investing in a rental property in Portland Oregon, or elsewhere in the United States. Location The first thing to look for when investing in a rental property is location. Ideally the area where that property is located should have a thriving real

decorating tips

DIY Decorating Tips For Renters

If you just moved into a Portland Rental property, like most renters you may be searching for decorating tips because you want to make that rental feel like your own. Thankfully, you can accomplish that goal by following these simple DIY decorating tips. Tip #1 – Use Removable Wallpaper Or Vinyl Wall Stickers Let’s face it, decorating is easier than ever in the 2020s thanks to removable wallpaper and vinyl wall stickers. You can easily decorate your rental property, and make it feel like ‘your’ home without having to spend thousands of dollars on decorating costs. Removable wallpaper and vinyl

Property Management Tips – 4 Things Portland Landlords Must Do In 2022

Owning a rental property is a great way to build passive income while generating wealth but there are 4 critical things that landlords must do, especially in 2022. #1 – Improve Tenant Screening Let’s face it, tenant screening is the ‘life blood’ of every rental business because if the wrong tenants are chosen, it’s possible that the landlord’s life will be crazy for the next 12 months. Thankfully, it’s thank ever before for landlord to screen their tenants, especially if they use online tenant screening and background check services like Rently. Besides using online services, landlords should also do their due

Property Management

Top Reasons To Fire Your Current Property Management Company

Are you thinking of firing your current Portland Oregon property management company but you’re not sure if this is the right decision to make or not? If so, you’ve come to the right place. There’s no denying that firing a company is never easy, but you can have peace of mind knowing that it’s time to let that property manager go, especially for these reasons. Reason #1 – Communication Is Not A Priority For Them Let’s face it, communication is essential, especially in the property management world because, one missed call, text, or email could lead to very costly problems.

landlords

Does A Move-In Walkthrough Benefit Landlords?

In today’s world, it’s not uncommon for some rental property landlords to do everything online and not physically see their tenants in person. Sadly, even though renting a property over the internet is convenient, the reality is that landlords are missing out by not having a rental property walkthrough. Even though owners want to utilize technology to market, screen, and place the most qualified tenants, the reality is that they shouldn’t neglect the rental property walkthrough, especially for these reasons. Reason #1 – Builds Trust With The Tenant The first reason why landlords should have a rental property walkthrough is

Should You Add A Raised Garden Bed To Your Portland Rental Property?

One important thing you must do as a landlord is always be looking for ways to get more ROI from your PDX rental property, and adding a raised garden bed is one way to do that. Raised garden beds are important because will attract renters who want to have outside space and those renters will most likely renew their lease because, tenants who feel more ‘connected’ to the property will be more inclined to stay, especially if they’ve grown plants or vegetables in the garden. What Does It Cost To Add A Raised Garden Bed? Thankfully, you can add a

rental property

Tips For Reducing The Wear And Tear On Your Rental Property

Wear and tear on a rental property is something that every landlord has to deal with because of the simple fact that it’s part of life. Thankfully, even though wear and tear can be a pain, landlords can reduce the wear and tear on their properties by following these tips. Tip #1 – Choose Durable Materials One of the best ways to limit wear and tear at a rental property is to choose durable materials. Investing in the best paint, flooring and other materials means that your property will be able to withstand more foot traffic and hold up over

property manager

Top Ways Property Managers Save You Money

Are you thinking about hiring a Portland property manager but you’re not sure if hiring someone to manage your properties will be worth the investment? Even though a property manager is going to cost you money, the reality is that a property management company also saves you money, especially in these areas. Better Technology In today’s world, property management companies work with the best technology possible, this means that we will screen and place the most qualified tenants for your property, collect rent, keep your property maintenance on track and so much more. High-Quality Contractors Let’s face it, you’re going

tenant

8 Traits of a Top-Tier Tenant—And How to Spot Them

Tenant screening is a vital part of being a landlord but during this process it’s also possible to approve the wrong people, especially if you don’t know which traits you should be looking for in a tenant. Thankfully, it’s easier than ever before to know what to look for in a tenant especially if you follow these tips. Not litigious Yes, landlords can and should minimize the odds of getting sued by being model landlords. But landlords can also avoid lawsuits by screening out litigious tenants. Some people love the idea of scoring easy money from a lawsuit. Even if a tenant doesn’t come

Tenant Screening: Why Checking a Tenant’s Rental History Report Matters

Tenant screening is one key to success when it comes to successfully owning rental properties in Portland Oregon, or elsewhere in the United States. Sadly, even though tenant screening should be easy for most landlords, it’s not uncommon for some landlords to make tenant screening mmistakes including not checking a tenants rental history. What is a rental history report? A rental history report is a report that contains information on a tenant’s current and prior housing. This may include the current address and the contact information for the landlord or property owner. The report should also contain two or three previous

rental property

Tips For Ensuring That Your Rental Property Is A Safe Place To Live

Did you invest in a Portland Oregon rental property recently but you’re concerned about the safety of that property? Rental property safety should be the #1 issue that landlords are concerned with because one accident or injury at your rental property could lead to a lawsuit and that property sitting vacant for months at a time. Thankfully, you can easily ensure that your rental property is safe by following these simple tips: Improve Stairs And Railings One of the most common areas of a rental property that often gets less attention than it should be stairs and railings. These areas

vacancies

How To Lower Vacancies And Increase Renewals In 2022

It doesn’t matter if you own rental properties in Portland Oregon, or elsewhere in the United States, vacancies can hurt your income because if the property is not occupied, it’s not earning income. Thankfully, staying on top of vacancies doesn’t have to be difficult, especially when you follow these tips. Tip #1 – Start The Renewal Process Early To Limit Vacancies When you’re at lease 3 months out from another renewal, you should contact the tenant to see what their long-term plans are and find out if they are interested in renewing their leases for another year. Contacting your tenant

rental property

Three Easy Updates To Make To Your Portland Rental Property

Are you planning on updating your Portland Oregon Rental Property in 2022 but you don’t have a lot of time? Thankfully, updating a rental property doesn’t always have to take a lot of time, or money, especially when you make one of the following updates. 1 – Update The Outlets In Your Property Let’s face it, outlets are typically one of the last things to get updated on a property because they are often forgotten about. Even though it’s easy to forget about electrical outlets, they are more important than ever before because we live in a world where people

self showing technology

Should You Use Self Showing Technology For Your Rental Property?

Are you thinking about using self-showing technology for your rental property in Portland Oregon? If so, you’re not alone. More landlords in Portland Oregon have been using self-showing technology in recent years, especially since the start of the Pandemic because this technology makes it possible for prospective tenants to tour rental properties themselves. The big question is self-showing technology right for you? In this article, we will break down the pros and cons of self-showing technology so that you will know what to expect if you choose this option for your rental property. What Are The Pros Of Using Self-Showing

Preventative Maintenance

Should You Add More Storage To Your Rental Property In 2022?

Are you thinking about adding self storage to your rental property? This is a smart decision to make becaus the global self-storage market was valued at $48.02 billion in 2020 and it continues to grow. This statistic continues to climb each year as more people continue to store their items away from home, rather than sell the excess items that they can’t part with. If you’ve been thinking about adding more storage to your property, this is a smart decision to make because you can increase the ROI from your rental property while offering your tenants more value from their

rental property

Costly Mistakes That Will Kill Rental Property Profits

Owning rental property is an excellent way to build wealth while generating passive monthly cash flow but there are some things that landlords do that can kill their rental property profitability. In this article, we will break down several things that can impact rental property profitability so that both new and experienced landlords can avoid making these mistakes moving forward. Mistake #1 – Not Renting Vacant Units Quickly One of the costliest mistakes that a landlord can make is not turning over (renting) vacant units quickly. Some landlords are fond of waiting until after a tenant has moved out until

Mobile Home Vs. Multifamily – Which One Is Better In 2022?

Are you planning on investing in mobile home, or rental properties in 2022 but you’re not sure if you should invest in mobile homes or multifamily properties? There’s no denying that both real estate investments are ideal but the reality is that few blogs talk about the pros and cons of either investment. In this article, we will break down mobile home vs. multifamily and offer you our insights into which option is better. Mobile Home Vs. Multifamily Mobile Homes – With rents rapidly in the Portland area, mobile homes are becoming more appealing to renters because they are often

tenants

What Are The Best Ways To Keep Tenants Happy In 2022?

Owning rental properties is a smart investment but the reality is that if you don’t keep your tenants happy you risk losing them Thankfully, tenant happiness isn’t as difficult as it seems especially if you follow these simple tips. Tip #1 – Be Accessible To Your Tenants  When renting to new tenants it’s best to give them multiple ways to contact you so that they know how to reach you especially if their furnace needs to be repaired, or if they have another issue that has to be resolved immediately. You don’t want your tenants calling you 24-7 so it’s

rental property

How To Prevent Tenants From Damaging Your Rental Property

Owning rental property is a great way to build positive monthly cashflow but one of the biggest things that can hurt cashflow from a rental property is tenant damage. Thankfully, tenant damage can be prevented if a landlord knows how to address this issue with their tenant from the very start of the landlord-tenant relationship. In this article we will offer you several tips you can use for preventing damage at your Portland Oregon Rental Property. Tips For Preventing Damage At Your Rental Property Screen and place qualified tenants – One of the best ways for preventing damage at your

Tips For Checking A Tenants Rental History

Tenant screening is one of the keys to success with owning rental properties in Portland Oregon but even though it’s important, many landlords fail at checking a tenant’s rental history. Thanks to technology, it’s easier than ever before for someone to fake their rental history and completely false use references. The good news is that it’s easier than ever before for landlords to understand a tenant’s rental history if they know what to look for. How To Determine A Tenants Rental History Start the rental history report using pre-screening questions. The rental verification process starts when you first speak to

apartment building

Tips For Increasing The Value Of Your Apartment Building

Do you own an apartment building in Portland Oregon? If so, you know that it’s an excellent way to earn passive income but one of the keys to success with owning that property is increasing its value. Thankfully, increasing the value of your apartment building is easy, especially if you follow these simple tips: Resolve problems quickly – If a tenant has an issue with neighbors, other tenants, or maintenance, those issues must be resolved immediately or else the tenant may become dissatisfied and immediately look for another rental when their lease expires. Make improvements – Don’t wait until things

tenant screening

Tenant Screening Tips – Learn More About What Makes A Good Tenant

Tenant screening is one of the keys to success when it comes to owning rental properties in Portland Oregon, or elsewhere nationwide. What most new landlords don’t know is that screening can be a simple and effective process if the following steps are followed. Develop A Tenant Screening Process And Stick With It Screening isn’t that difficult once you get started but the key is to follow the same process with each tenant because doing so will help you to avoid being accused of discrimination or possibly sued by a prospective tenant if you choose to not rent to them.

Learn More About Property Management Systems

Investor Tips – When To Buy Your First Rental Property

Are you planning on investing in rental property in Portland Oregon, or elsewhere nationwide but you’re wondering when you should purchase your first property? Buying rental property is still a smart investment in the 2020s because people need housing and as long as you own a rental, you’re going to own an asset that’s in demand. When Should You Buy Your First Rental? Let’s face it, now is a great time to buy a rental property because more people nationwide are renting than ever before but before you submit an offer on a property, you should ask yourself these questions.

tenant

How To Analyze Portland Oregon Rental Properties

Portland Oregon Rental Properties continue to be smart investments because as the stock market fluctuates, income from rentals remains steady because people always need a place to live. If you’re thinking about buying your first rental property in the PDX area, this article will share with you several tips that you can sue for analyzing Portland Oregon rentals. Tips For Analyzing Portland Rental Properties Single-family homes Market “comps” determine the value of single-family homes, investment or not. These comps—or “comparables”—are nearby properties with similar characteristics. They share variables like floorplan, number of bedrooms and bathrooms, garage size, and amenities. A

rental property

What Are The Top Things That Portland Landlords Should Be Doing Each Year For Their Properties?

Owning a rental property in Portland, or elsewhere in the United States is smart investment but there are several things that landlords should be doing if they want to continue earning consistent ROI on a monthly basis from their properties. In this article we will break down some of the things that landlords should be doing, so that if you are a new or experienced landlord you may want to add these tasks to your schedule. Renew leases Unless you purposefully rent month to month, it’s wise to re-up your tenants to a year-long lease agreement. In most states, an