What does a property manager do? – List of Property Management Services in Portland, OR
When everything’s going according to plan, it’s easy to think that hiring a property management company might be overkill. Afterall, it can’t be that difficult to collect the rent check each month and answer a few phone calls. But as so many property owners and investors come to find out, property management covers so many different aspects—from home repair to legal guidance to dealing with the police and helping settle domestic disputes—that it makes sense to have a strong, experienced team in your corner.
At InterWest Properties, Inc., we pride ourselves in handling any and every scenario that might come up at your property with professionalism, efficiency, and care. We’ve learned all of the in’s and out’s of the Portland Oregon and Vancouver Washington rental markets, and have been successfully navigating some of the darker nooks and crannies on behalf of property owners for over 30 years.
Here’s what a good property management company does for property investors:
Rental pricing assessment, rent collection, and distribution of funds for repairs
Selecting Rental Pricing for Your Property
The local marketplace is in constant flux, changing and shifting rent prices based on quality of current supply, and demand. It’s important to have an expert on your team that understands how to help you assess the marketplace and make sure that you’re setting your rental rates in the most profitable way. Additionally, homes should be priced according to an investor’s goal and strategy. Holding the property long term a great long-term tenant commands a different rent pricing structure compared to an investor seeking better numbers on a 1031 exchange who need a top of the market price. A good property management company helps you by coaching you to find the best price to meet your goals.
Collecting Rent Payments
When it comes to collecting rent checks and payments each month, your property manager at InterWest Properties, Inc. knows exactly how to encourage tenants to pay early or on time. If and when a tenant is behind in their monthly payments, our expert property managers know the exact notices, phrasing, legalise, and process required by law, so that you maintain control of your property and the situation, should you rarely have to evict a tenant.
Security Deposit and Legal Documentation of Property
We will also make sure that you are collecting a fair amount of money for security deposit from each new tenant, and help determine how much of that deposit should be returned to the tenant upon move-out. By utilizing digital inspection systems, we can lower the risk that a tenant will try and bring you to court for any kind of legal reimbursement. If a court hearing is required, we will have all of the appropriate paperwork and documentation to make sure you come out on top.
Real estate accounting is vital for both Tenants and Property Owners. We want to make sure that every dollar in and out of your property is properly documented and allocated in a way that gives you the most benefit at the end of the year. Our financial reports for property owners, delivered regularly each month, include: Statement of Cash Flow, Income and Expense Registers, Trial Balance, Rent Roll, Copies of Work Orders, and other custom reports based on owner’s needs and desires. Let our team handle the itemized accounting of your property, so that you can spend your time with more important things.
Property Management Repair Budgets and Implementation
Your property investment will naturally require regular upkeep and preventive maintenance to maintain its value and appreciate with the market over time. Our maintenance team, time-tested vendors and property management experts will assess any damages or upkeep needed at your property, and present a plan that clearly identifies aspects of the work for you to review and approve. We want to make the process as easy as possible for you, so you never have to waste time on managing repair schedules and budgets. That’s what we’re here for.
Property Managers Help You Find Good Tenants (and avoid bad tenants)
Everything becomes easier when you have a terrific tenant living in your property. At InterWest Properties, Inc., we have a time-tested and proven system for helping you weed out bad apples and will help design a vacancy leasing campaign that will attract tenants that will treat your property with respect.
Of course, life happens, and there is never a guarantee that tenants will maintain their terrific status. Our team has all of the knowledge & experience to identify troubling trends, and gentle nudges can be used to encourage a tenant to get back on track before the harder, rental history bruising mechanisms move into play. We believe in a stepped approach for compliance while working with tenants, and often court can be avoided so long as everyone keeps their promises. This often results in more profit and increased tenant loyalty provided there is mutual cooperation. Of course, our trusted team of legal advisers and staff are prepared if possession of the unit becomes necessary.
Move-in / Move-out Property Management Services
Aside from regular drive-bys, check-ins, and any on-going maintenance or repairs, the move-in and move-out period of a lease is the most important time for assuring your property is well-taken care of.
Our property management team will make sure that all of the property inspections, lease documents, legal work, notices, signatures, security deposits, and collection of keys/remotes are handled in a well-documented and professional way. We want to help you find tenants who will leave your property in as good a condition or better than when they moved in. Our long list of checks and balances assure that tenants are held liable for any damages and that all repairs are agreed to by all parties via the proper personal follow-up and paperwork.
Maintaining Proper Legal Practices for Your Property
It’s never fun to lease a property, only to discover too late that the tenant just isn’t going to work out. Should things head south and a tenant fails to meet the terms of your contract, you want to make sure you’re protected and prepared to serve proper and legal notices in the proper and legal way. In Oregon, tenants often get free representation for these court cases, and the Landlord often pays the bill in court. Proper & legal notice service is the usual cause for financial loss to the property owner.
Our team of property management experts will provide you with the guidance, documentation, and practical experience that comes with doing business for 30 years. We handle all issues with excellence, while adhering to our commitment of honest and ethical performance on all sides of the property management equation.
So Much More
This list of property management services could go on and on and on. You get the idea. No two properties or tenancies are the same, and each calls for expertise to manage well. Many owners come to us with problems and out of frustration and financial loss. Let us help you before it gets to that point, as there are pitfalls difficult to navigate as a single property owner and investor who doesn’t have time to keep up on the legal changes.
With over 30 years in your local market, we’ve seen and done it. We know how to handle situations that might come up at your property. Our goal is to meet your goals and investment objectives to ensure that your property remain profitability. That way your time is spent focused on the things in your life which are truly important to you, as it should be. We’ll just send you the money through direct deposit.
We’d love to jump on a complimentary call with you to discuss how our team can assist with your specific property.