Are you thinking about investing in Portland Oregon Single Family rental properties but you are not if that’s the right decision to make or not due to Covid-19?
In this article we will break down what’s happening with the local single family rental market and offer you some tips for investing in single family homes in 2021.
Portland Oregon Single Family Rental Market 2021
Investors know that single family rental properties are always in demand in the PDX area because renters like to have more space without being connected to walls.
Even though the Pandemic has taken a toll on local landlords, we expect to see continued demand for single family rental properties in the PDX area especially once local, state and Federal eviction bans have ended.
Oregon Tenants Can’t Be Evicted for Not Paying Rent Until July, if They Sign a Form. On Dec. 21, the Oregon Legislature passed House Bill 4401, which extends an eviction moratorium until June 30, 2021, and appropriates $150 million to a landlord relief fund and $50 million for rental assistance.
– W Week
It’s possible that unless more renter protections are in place this summer, we could see an increase in evictions followed by an increase in inventory that comes to market but it’s also possible that could see tighter single family home inventory in 2021 as more investors are selling their single-family homes in Portland.
It’s a seller’s real estate market right now and owners know that so it’s possible that a portion of the single-family rental home inventory in Portland may be sold in the coming months as more owners are eager to offload their properties for top dollar.
With fewer inventory, we could see single family home rent increases, especially when we consider that there are fewer single-family homes on the market than in years past because COVID-19 has slowed housing starts in the PDX area.
Local Investors Still Want Single Family Homes
Despite the pandemic, investors are still buying single family homes in the Portland area and are focusing on doing what they can to increase revenue per door.
Some of the things that local landlords are focusing on to increase revenue include making their properties pet friendly, adding smart appliances and offering their tenants additional services like landscape management.
Most important of all, smart investors in the PDX area are hiring property managers to professionally manage their rental properties because property management saves owners time and money.
Contact Rent Portland Homes
At Rent Portland Homes, we specialize in local property management, this means that you can count on us to find qualified tenants to live in your PDX rental property.
For more information about our property management services, contact us today by clicking here.