By Property Management Systems
Have you been trying to decide if you should self manage your Portland Oregon Rental Property or not? Although self managing your rental may save you some money in the beginning, the reality is that it’s not always a good decision to continue self managing a rental property because you will spend more time and money managing it yourself than you would if you were to hire a property manager.
Learn More About The Benefits Of Hiring A Property Manager
#1 – You Will Save More Money Each Month
How many hours per month do you spend on the phone with tenants or in the car traveling to your rentals?
You will save money each month by using a professional property management company for your Oregon Rental Properties because, we will be your team to handle all of the day-to-day issues which come from managing a property so you don’t have to
#2 – More Time in Your Schedule
With less time being spent managing your properties, taking care of tenant issues, or collecting rent, you will have MORE TIME to enjoy your life, family and also the benefits which come from owning rental property.
#3 – GROW Your Portfolio
Last of all, but most important, with more time and energy on your side each month you will be able to finally GROW your property portfolio and generate more income from your properties each month than you currently are.
Tenant issues, repairs and problems will be a thing of the past as you look to the future and generating more income by purchasing another property.
What Will A Portland Oregon Property Manager Do For You?
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, town home 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.
Think Of Your Rental Properties As A Business
Regardless if you’re new to owning rental properties, or just getting started, one of the most important things you can do as an owner is look at your rental properties as a business.
With any business you would hire employees to help you run your business as your company grows right? The same principle applies with owning rental properties in Portland or elsewhere in the United States.
You should hire a professional property management company to help you professionally manage your portfolio of rentals.
Some of the many benefits you will enjoy from hiring a property manager include:
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!
Get Property Management For Your Portland Oregon Rental Property
For professional property management for your Portland Oregon Rental Property contact Property Management Systems today by calling us at (503) 515-3170 or click here to connect with us online.