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Do You Have a Property Repair & Maintenance System in Portland?

One of the primary roles of a property management company is preserving and increasing the value of your property. The tenant’s sentiments should be addressed swiftly, and owners provided with a system of how their property is being managed. A necessary part of owning a real estate investment is having a repair and maintenance system. A properly maintained rental property assures long tenant retention and acceptable returns. Many landlords adopt preventative maintenance to maximize an assets lifetime and minimize the cost.

Preventative maintenance helps landlords avoid large unexpected repairs in the future. A good property manager examines the units regularly for minor repairs and fixes them before they become huge expenses. Relying on your tenants to alert you when repairs arise is risky, plus many small issues are hard to notice.

Here are some steps you can adapt to combat repairs and maintenance.

Establish Clear Responsibilities for Your Property Manager & Tenants

A solid maintenance plan begins with your lease. Distinctly differentiate between the landlord and the tenant’s responsibilities before they move into your rentals. The tenant is responsible for minor maintenance such as trash removal or changing light bulbs. Property management services include fixing leaks, repainting, replacing air filters, etc. Provide the renters with your or your property manager’s emergency contact, so that they can quickly alert you when issues arise.

Plan for Unexpected Maintenance Expenses

Don’t be caught in the lurch by repairs, plan for them and budget accordingly. On average, the annual maintenance cost will be about 1.3 times the monthly rental fee. If the rental fee is $1,000 a month, then you should expect to spend around $1,300 on repairs during the tenant’s lease period. However, this amount doesn’t include any costs for vacant properties or properties in-between tenants. No one can predict damages, and they come at the most inconvenient time. Budgeting and planning for repairs help you prepare for any future surprises.

Respond Swiftly to Maintenance Requests

It’s the responsibility of the property manager to provide a safe, clean, and comfortable rental home for tenants. Taking too long to fix leaking pipes or malfunctioning lights will be factors renters consider when deciding to renew the lease or move out. Rental marketing in Portland, Oregon is tough, but despite this, tenants need quality housing. Keep the tenants happy by responding swiftly to repairs and maintain proper communication with them. Responding to maintenance issues promptly keeps small problems from escalating and costs you less when turning over the unit to a new client.

Adopt Preventative Maintenance at Each of Your Properties

Large, expensive repairs develop and get worse from small repairs that were neglected. Preventive maintenance is the best way to deal with these problems when they are small and cheap. As a property manager, examine your property regularly and fix the minor damages immediately. Here are some of the aspects of your property that can be monitored and fixed before they grow into bigger issues:

  1. Tend to the outdoors by cutting the lawn, collecting litter, and trimming the trees. Cut trees near electrical wires and buildings before they cause damage.
  2. Identifying and fixing water leaks early helps avoid mold growth and damage to walls or ceiling. Check for water pockets, especially after winter or a rainstorm.
  3. Keep your property’s electrical system updated and safe to avoid shorts and electrical fires. Regularly hire a technician to help you examine the electrical system.
  4. Re-painting improves your house’s appearance and marketability. Don’t wait until the interior and exterior are peeling off to re-paint.
  5. Monitor your units monthly for pest infestation. You may lose good and loyal tenants due to a pest problem.

Taking care of your rental property shouldn’t be different from maintaining your own home. Tenants are your source of income, so take care of them by creating an efficient maintenance system.

We’d love to speak with you about your property and your investment goals in the city. Our goal is to provide quality care for your property portfolio, while increasing its profitability. We look forward to jumping on a call with you.

Get a FREE assessment of your rental property. Start here!

Finding the Right Property Manager in Portland, Oregon

Hiring someone to manage your property is a huge decision, so before hiring anyone, it’s important to do as much research as possible. Choosing a property manager can break or make your property investment. Property management companies have flooded the Portland, Oregon market in recent years, but it’s becoming more and more difficult to determine who is the best choice when most of them make the same claims and provide the same property management services.

InterWest Properties, Inc. is a trustworthy responsible property management firm that will not only collect rent on your behalf but also handle daily maintenance, while catering to your tenant’s needs. Here are some strategies to help you find the best fit for your property:

Get Referrals to Find the Best Property Manager in Portland

An ideal way of finding a reputable project manager is by referral. Do you have friends or family with investments in Oregon? By talking to real estate agents or property owners, you can find suitable options. Compile a list of their current and former property management companies, and it’s important to inquire about their experiences with these enterprises. Note that a referral can be biased, that’s why it’s advisable to collect referrals from different sources.

Research about the Property Manager and their Current Work

Before hiring a property manager, we advise doing thorough research on them. Some websites allow you to key in the size of your property, location and they create a record of property management companies in your area. Learn more about the company by checking their reviews online. Check out their current property management services such as the quality of advertising, medium of advertising, the time they take to replace a tenant, etc. Visit the properties they currently manage and collect information by talking to those who have leased from them in the past. A key role of property management companies is keeping tenants happy and comfortable.

Interview More Than One Property Manager

It’s odd for a property management company to tell you to check out their competition, but we are confident that our services at InterWest Properties, Inc. go above and beyond that of our competition. We’ve been proving it for over 30 years. That said, we always encourage property owners to interview several property managers and compare them to find the best fit. Interviewing several candidates helps you identify proven companies with experience from those who offer poor service execution. A good property manager strives to maximize your income and find tenants that will respect your property. It’s, therefore, crucial to choose wisely the company who will represent you and your property.

Verify Your PM’s License and Registration

Oregon requires that to show vacant houses, property managers should have a property management license or a real estate broker’s license. It’s important to verify their license and any trade organization certificates.

Review the Property Management Agreement

The agreement should clearly interpret the responsibilities of the property manager and those of the owner. This document is important because it states the exact terms of your relationship and what both parties have to offer. Pay attention to sections on services provided, extra fees charged, responsibilities of the owner and reasons for cancellation. Before signing the contract, take your time reading through it and understand all the terms and conditions.

Many landlords choose property managers based on the company that offers the cheapest structure. However, keep in mind that cheaper fees may lead to poor service level and this may affect you in the future.

At InterWest Properties, Inc., we’d love to speak with you about your property and your investment goals in the city. Our goal is to provide quality care for your property portfolio, while increasing its profitability. We look forward to jumping on a call with you.

Get a FREE assessment of your rental property. Start here!

Pros and Cons of Allowing Tenants to Have Pets in Your Property

Before allowing tenants into your property you will have to decide on a pet policy. Should you permit pets in your rental property? One of the roles of property management services is making decisions on whether to allow pets in your rentals or not. Pets can damage your rentals, but there are many good reasons for allowing them. This topic has been subject to debate for as long as properties have been for lease. Property managers should evaluate the pros and cons of allowing pets in their rentals.

Advantages of allowing pets on your property

We continuously hear about all the negatives pets cause for landlords, so you may not be accustomed to the benefits of allowing tenants to have pets.

Here are some of the benefits that come with permitting pets in their property:

Larger Tenant Pool

There is data to support that 50% of tenants in Portland own pets and almost 60% of landlords don’t allow pets in their properties. Therefore, making your property pet-friendly gives you access to a larger pool of tenants. If you don’t allow pets, you may miss on a lot of potential renters.

Extra Money in your Pocket

Property management companies charge extra money to pet owners in the form of pet deposits or pet rent. Pet owners also need somewhere to live just like tenants who don’t own pets. Most pet owners consider pets as part of their family, for this reason, they are willing to pay extra rental fees. Due to high demand, landlords can charge rent slightly higher.

Responsible Tenants

If someone is responsible enough to take care of an animal, chances are they will be more likely to take good care of your property. Taking care of a pet, such as a dog, requires a lot of time and attention. Pet owners will likely put the same energy towards taking care of your property and they are likely to view it as a home.

Longer Tenancy

Pet owners tend to stick around longer because it’s hard for them to find a pet-friendly rental. Pets help reduce stress, and this means your tenants are comfortable and happy. Allowing pets will reduce the chances of tenants sneaking in pets that you haven’t approved. Pets, like dogs, can also provide extra security on your property.

Disadvantages of Allowing Pets on Your Property

On the flip side, renting to pet owners comes with some risks. Here are a few of the cons that are associated with allowing pets in your rentals.

Damage of Property

The common problem landlords’ face, when tenants move out, is the cost of repairing and replacing items damaged by pets. Animals especially cats and dogs scratch the floor, chew up carpets or urinate on wooden floors. Pets that are not well groomed or cleaned can infest your property with mites and fleas.

Loss of Other Tenants

Some dogs howl or bark a lot especially at night, and this may annoy other tenants forcing them to move. Pets often stir up allergens, and some tenants may be allergic to dogs and cats. It’s best to notify tenants that it’s a pet-friendly building and there is a possibility of noise and allergens. Some animals are destructive, and they may bite the other tenants or children.

It’s up to you how you approach pets at your rental properties in Portland. Only you can determine whether the pro’s outway the con’s. Regardless of what you decide, it’s a good idea to include a pet policy in the lease and require every tenant to sign it. It’s also important to screen tenants with pets first before allowing them on your property.

If you’re looking to better understand the dynamic of allowing pets in your rental properties, we’d love to connect you with an expert in our office.

At InterWest Properties, we’ve been compiling our team of experts for over 30 years so that our clients can rest-assured that their property is in good hands. If you’d like to discuss how we can take your property portfolio and infuse it with new life, profit, and vision, we’d love to hear from you.

You Can Get a FREE assessment of your rental property by Starting Here!

3 Must Read Tips About Dealing with Problem Tenants In Portland

It can be a property owners nightmare, but at some point in each property management career it becomes inevitable—the problem tenant will show their face. Perhaps it’s just a minor scenario like a tenant who continues to submit late rent payments every single month. In many instances, it can be for worse: drug dealing, domestic violence, criminal activity, property damages, and more.

Having someone in your property who does not respect it, you, or the terms you both agreed to can become an increasingly frustrating affair. Our team of property management experts has put together a list of the top three things to keep in mind when it comes to a problem tenant.

Keep Calm and Go By the Book

It’s human nature to feel entitled to go immediately to anger when a tenant deliberately breaks the terms you’ve agreed upon. And when it’s clear that they’ve done damage to your investment property, tensions can rise quickly.

The worst thing a property owner can do when it comes to dealing with a problem tenant, however, is losing their cool or get too emotionally involved. One of the primary reasons for hiring a good property manager is to help create some buffer space between you and the tenants in your property. A good property manager has seen just about every scenario that could come up and has a pre-determined procedure for handling each professionally and with care.

As a property owner, if you’re not working with a seasoned property manager, it’s important to create procedural outlines for how you’ll approach certain scenarios BEFORE they actually come up. Being able to go directly to a pre-written process and plan helps eliminate any error that can come about when emotions are high.

Use Clear Written Communication and Document Everything

When dealing with a problem tenant, one of the worst case scenarios is that you’ll end up in front of a judge trying to actually prove that the tenant did something wrong. This can be tricky if you have not thoroughly documented every single violation of terms that the tenant has done.

It’s not only important to document what is happening to your property with photos, video, and audio, however. You’ll also want to make sure that you are properly communicating through written correspondence to the tenant each violation and the penalties associated.

A good property manager will have many pre-written templates ready for any given scenario to make sure that you’re legally covered should you ever have to go to court and prove your claim. The more information you collect and document, the stronger your case will be.

Walk a Mile in Their Shoes

It may seem obvious, but it’s amazing how often it gets ignored when in the heat of an argument over leasing terms: Your tenant is a human being. They often have a family and problems of their own. And while this is no excuse to break the terms of their lease with you, it’s certainly worth thinking about when deciding how you will approach and communicate with them.

When you approach each tenant from the start with respect, there is a good chance they will do the same with you. Staying in regular contact with them and showing up with a friendly maintenance team or check-in can be ways to have continued face time with your tenants, so they remember that you’re human too.

When it comes down to it, many tenant problems can be solved with clear, honest communication. A great property manager is well-versed in the communication patterns and written records that will set you up for the highest level of success with your property portfolio.

At InterWest Properties, we’ve been dealing with every kind tenant scenario imaginable for over 30 years so that our clients can rest-assured that their property is in good hands. If you’re having trouble with a tenant and could use some advice, we’d love to chat with you. Call us at (503) 256-2323, or…

You Can Get a FREE assessment of your rental property by Starting Here!

Avoiding Bad Tenants and Finding Great Ones in Portland

A good tenant can make or break the ease with which a property investor can maintain and grow their property portfolio in Portland. Unfortunately, with shifting rental laws and legislation, it can often become difficult to know exactly what an effective strategy for attracting great long-term tenants might be.

We see so many property owners who, trying to make sure their mortgage payments are made, are willing to put any tenant into their property, only to end up with a huge headache down the line.

We’ve outlines a few key strategies or tips that a property owner should consider to avoid bad tenants from the get-go and end up with tenants who will be a joy and respect your property.

What Kind of Tenant Do You Want?

Despite what many sources may have you believe, you do still get a chance to express the type of tenant you’d like to see in your property. However, much of that personal preference for tenant type should be considered before and depends upon how you pick the investment property you purchase.

It’s self-evident that you want a tenant who is responsible and respectful, but are you looking to attract a family? College students? Business professionals? Think about the amenities and nearby venues that would be advantageous to each lifestyle.

For instance, a small family with young children is going to be interested in school district quality. A college student will be looking at proximity to schools, bus routes, and places to study. A business professional may be more interested in internet speed, proximity to major highways, airports, or business centers.

As you can see, you may have a property that could very easily fit the needs of each of these tenants. Highlighting various amenities and nearby venues can be an interesting way to paint your property in a certain light.

Put Your Best Foot Forward

First impressions matter in the real estate industry. When someone is deciding what their new home is going to be, the curb appeal of the property can make or break the transaction. Before inviting potential tenants to see your rental property, make sure the following has been tended to:

  • Lawn mowed, edged, and swept
  • Exterior paint in good condition
  • All exterior repairs made for strong curb appeal
  • Door cleaned and/or freshly painted

Paying attention to how your property looks when someone pulls up for the first time can be a game-changer for the quality of tenants you attract and lease to.

Collect Great Testimonials from Past Tenants

It can be a tough choice to move into a property owned by a stranger you know nothing about. Tenants have more options than ever and often go with properties managed by larger firms solely for assured quality of service.

No one wants to move into a home only to find out that many things need updating or repair and the owner is unwilling to make the improvements in a timely fashion. Having strong testimonials on your website and printed, and presented clearly in the rental property during showings can be an easy way to showcase that other tenants have had a good experience with you as a property landlord.

Highlighting any successes or wins you’ve had with other tenants can help you justify a higher rental rate and attract tenants who will treat your property with care and respect.

At InterWest Properties, we’ve been compiling our team of experts for over 30 years so that our clients can rest-assured that their property is in good hands. If you’d like to discuss how we can take your property portfolio and and help you find great tenants, we’d love to hear from you.

You Can Get a FREE assessment of your rental property by Starting Here!

Winter is Coming: Are Your Properties Ready for Winter?

What You Need to Know before the Cold Season Arrives

Winter comes with many risks to rental properties which can lead to unnecessary costs for the landlord. Fortunately, all these risks are preventable. Property management companies hire professional maintenance teams to ensure the comfort and safety of tenants all year long. It’s important that you winterize your property before the winter arrives. Taking these measures ensures that you will spend less money on repairs come spring. You and your tenants are likely to enjoy a safe and cozy winter if you take the necessary actions.

Here are some of the actions you can carry out to prepare your property for the cold season:

Check the Heating System

Hire a technician to inspect your boilers or heaters making sure the system is clean and in good shape. The technician will check to see if the heater can achieve the manufacturer’s rated efficiency and also measures carbon monoxide leakage. It’s advisable to regularly service your heating system to keep it working throughout the year. Checking your heating system before the cold season saves you time, money, and the hectic lines at the repair store (the mad hardware rush is definitely a thing you don’t want to have to learn first-hand).

Inspect the Pipes and Walls

If the temperatures drop inside your buildings, the pipes are likely to freeze. When water freezes inside of the pipes it expands, putting your pipes at risk of cracking. The expansion of frozen water may lead to bursting of pipes causing water damage in the building.

The best way to prevent this is by keeping your pipes warm with a foam cardigan called lagging. Lagging reduces the heat lost and insulates the pipes to keep them from freezing. Check all the external pipes for breakage, bursts, or leaks. Make sure the pipes are well secured to the wall and while you are at it check the walls around the building for cracks that can let in water.

Consider An Emergency Insurance Policy for Your Property

Securing an insurance home policy that covers your buildings for winter and other damages can make a lot of sense. Get the right insurance coverage for your rental properties and always make sure it’s up to date. A good property manager can help you assess all of the various options in the marketplace. Not all insurance products include rental properties, so it’s important to confirm you have the right landlords’ building and contents insurance. No one can predict an emergency, and it happens at the most inconvenient time, but when it happens, you will be glad you had insurance in place. In case of an emergency, the insurance company will swiftly come to your rescue.

Cleaning the Gutters and Chimney

Clean the chimney if your house has a wood fireplace and for the safety of your tenants provide them with proper fireguard. Gutters and drainpipes get clogged with leaves as time goes by. If the blockage is unattended to, water starts to leak through the roof down to the walls of your house. Clean the foliage and dirt in the gutters to avoid water blockage. Be aware of your roofs load-rating and pay attention to the amount of snow on your roof. Trim the trees near your buildings because they are to blame for the blocked gutters. Weak tree branches can fall due to snow piling on them and high winds causing property damage or injuries to the tenants. Prevent this by trimming the branches before winter comes.

Insulate Your Buildings

A large percentage of the heat in your house is lost through the roof. You can keep your house warm using less energy by properly insulating the walls and ceiling. The cost of making these improvements is less compared to the cost of repairing winter damage. Avoid condensation because it causes mold growth and rotting on surfaces. Condensation takes place when moist air comes into contact with surfaces of lower temperatures. Adequate ventilation, closed doors and open windows while cooking all help in preventing condensation. We know that hot air rises, thus a lot of energy is used to heat a room with high ceilings. Switch your ceiling fan to reverse this flow and push down the hot air from the ceiling.

Making your property ready for winter ensures your tenants are happy and safe during any harsh weather. Stock winter essentials such as salt or ice melt and prepare for snow removal when the weather calls for it.

As winter approaches, we’d love to speak with you about your property and your investment goals in the city. Our goal is to provide quality care for your property portfolio, while increasing its profitability. We look forward to jumping on a call with you.

Get a FREE assessment of your rental property. Start here!

How to Keep Good Tenants in Your Property

Renting a house is easy but keeping a good tenant can be a tricky affair. Tenants who pay their rent on time, take care of your property, and keep you updated with any maintenance issues make a property manager and owner happy. Don’t underrate the value of tenant retention. Each time you lose a tenant, you are losing rental income, time— because the property is vacant—and the cost of advertising for new tenants. It’s more sensible to make an effort in maintaining the good tenants that you already have.

Some tips on how to keep good tenants in your property include:

Keep Up with Maintenance

It’s the property manager’s responsibility to provide safe, clean, and well-maintained property for the tenants. Rental marketing in some areas is tough but in spite of this, tenants require quality housing. Overgrown lawns, leaking pipes, and malfunctioning lights are factors that will go against you when the tenant is making a decision of renewing the lease or moving out. Make the tenant happy and feel wanted by being proactive with repair and maintenance. The tenants may not notice everything, so it’s upon you to inspect the housing conditions regularly. This simply keeps smaller issues from becoming larger in the future. Constant maintenance saves you a lot of money when turning over the house to a new a client.

Set Standard Rents

Some landlords set low rates to attract tenants, but this may leave them vulnerable when they decide to increase rent in the future. Instant increase in rent may scare away your tenants. Gradual adjustments to the market value over an extended period may be received better by the tenants than an immediate leap. Charging high rental rates can also dent your tenant retention and may affect your future tenant marketing. When you set the rent too high, good tenants may seek out another property which is more affordable when it pops up. When the time comes to marketing your investment property for sale, buyers will be turned off if the rental yield is below the market value.

Hire a Property Management Company

Every landlord faces the challenge of finding good tenants and keeping them. Property management companies are efficient and offer resources that help you find good and long-term tenants. They provide quality management services and solutions that are built to suit you and your property’s needs. They also keep you stay competitive with other properties in your neighborhood.

Introduce a Reward System

Some creative property management companies have designed a system to reward tenants for good behavior, thus motivating them and reducing tenant turnover. These systems are beneficial to property managers with scores of tenants. If a tenant pays their rent on time or refers a friend who also becomes a tenant, they are rewarded with points or some future benefit. They can redeem the points and get gifts such as kitchen items, movie tickets or property upgrades. You’ll have to be the judge as to whether this system makes sense for you and your properties in Portland, OR. A good property manager can help you assess the best form of executing a reward system with your tenants.

Excellent Communication with Tenants

A tenant is likely to renew a lease if you are easy to deal with and friendly. Good communication is not only the key to the rental industry but also to every personal or professional relationship. Each day you will receive calls, texts, and emails from potential or current tenants regarding different issues. If you don’t answer their calls and don’t make yourself available for important issues, it’s less likely they will renew their leases. A good landlord responds swiftly and efficiently to the needs of their tenants. Provide tenants with your or your property manager’s contact information and working hours. Everyone appreciates honesty, and open communication—tenants included.

Don’t be a stranger who only turns up to collect rent, involve yourself in some of your tenant’s activities. Your tenants are your source of income, so treat them with respect and make their stay in your property worth their while.

We’d love to speak with you about your property and your investment goals in the city. Our goal is to provide quality care for your property portfolio, while increasing its profitability. We look forward to jumping on a call with you.

Get a FREE assessment of your rental property. Start here!

Do You Need a Property Manager in Portland? – Part 1

Do You Need a Property Manager in Portland?

Every property investor is going to be somewhat different. As much as we’d like to tell you that property investment is a completely logical process, the truth is that people invest in property—at least partially—for emotional reasons. Due to these emotional factors, balanced with a logical view of your local marketplace, you may or may not need or desire a property manager at this moment.

We’ve put together a few questions you can ask yourself as you consider:

What Is Your Proximity to Your Properties?

It may be easy enough to zip over to your investment properties if they are in the same neighborhood that you’re living in, but if you have properties all the way across town, scattered here and there, or out of state, it becomes much more of an ordeal to answer maintenance calls in the middle of the night.

A key consideration when thinking about hiring a property manager in Portland is how much time you will have to spend commuting from property to property for both regular and emergency maintenance scenarios.

How Do You Handle Sudden Excitation?

Being a savvy property manager is not just about finding properties with strong value and cashflow, it’s equally important that a good PM knows how to keep calm and think rationally when emotions are high.

It’s easy to be a property manager when everything is going well but becomes exponentially more difficult when an angry tenant is ringing your phone five times a day.

How do you handle surprises? How did you react the last time you got bad news? If these kinds of things make you uncomfortable, you might want to consider hiring a property manager as a buffer between you and your tenants. Great property managers are skilled in taking the brunt of any confrontation, properly processing it through a pre-determined and highly effective system of questions and action items, and once they have a clear snapshot of the problem and a list of potential solutions, only then will you receive a phone call.

This can be a much softer way to receive news about your properties and is easier on your nervous system in the long run because you know you’re working with an expert who has already handled many similar property management scenarios with success in the past.

Are You Experienced with Home Maintenance and Repairs?

We all like to think that we’re more handy that we might actually be. The 90s show, Home Improvement, and “Tim the Toolman Taylor’s” laughable antics come to mind. However, just because you could fix something, doesn’t always mean it’s the best use of your time and energy.

When it comes to home repair, a good property manager has a maintenance team who is out making repairs and improvements on a regular, daily basis. They have a certain momentum to their work and know-how because it’s all they do.

Should something go wrong at your own home that needed a repair, would you want to hire the guy who’s never done the repair but read an article about it online, or the guy/girl who does the repair every single day.

There’s value in hiring an expert and it allows you as a property investor to focus on growing your portfolio and other tasks that are equal to the high-dollar per hour your time is worth.

Hiring a Great Property Manager in Portland

In the end, whether you hire a property manager will come down to how much pain you’re finding in your property portfolio. If you only have one or two properties, then that pain may be very small, right now. As you grow your portfolio larger and larger, that pain begins to grow because your current resources get spread too thin.

We want to help you avoid the pain that can often sneak up on property investors in Portland. We’d love to invite you into our office or jump on the phone for a complimentary phone call about your property portfolio and how our team might be able to add value to it.

One of our property management experts would love to speak with you on the phone to help you work it out. Call us, today: (503) 256-2323

You Can Get a FREE assessment of your rental property by Starting Here!

Portland Extends Renter Protection Law’s Life by Six Months

The City of Portland is seeing major changes in tenant and renter protection law and rights with contention on both sides. As a property owner or investor, it’s important to know how legislation put forth by the Portland Housing Bureau can directly affect your property portfolio.

Last month we highlighted how a tenant protections bill that would have banned no-cause evictions in Oregon died in the Senate. However, there are many moving pieces in this puzzle and making sure a fair solution is put forth is paramount for continued growth and investment in the city.

We’ve learned that a six-month extension has been given to a renter protection law that was set to expire this October. The move to extend means that tenants who are issued no-cause evictions, or who move out when their rent is hiked by 10 percent or more, can continue to expect payments of between $2,900 and $4,500 well into next year.

According to the Portland Mercury, “Two Portland landlords, Phillip Owen and Michael Feves, have challenged that law in court, arguing it amounts to illegal rent control, among other things.”

Attorney, John DiLorenzo, said in a statement, “We still strongly believe the ordinance will only aggravate Portland’s housing crisis.” Referencing the recent appeal, he went on to say, “The court failed to see it for what it is – disguised rent control, which violates state statutes and the Oregon Constitution.”

Protests and opposition continue, as Portland citizens and activists demonstrate against no-cause evictions, while property landlords, owners, and investors all feel they should have some recourse and control over their own properties without suffering major penalties.

Some Commissioners who introduced the relocation payment ordinance believe property owner opposition is unwarranted. In a recent statement made by Commissioner Eudaly, “It is disappointing that DiLorenzo and the landlord lobby continue to waste time and money fighting the city in its efforts to stabilize families in their homes. Their time might be better spent helping us find additional solutions to the housing crisis instead of trying to take away the only tool we have to help vulnerable people.”

However, many believe that the health of the city and future urban growth it dependent on allowing the housing market to growth naturally based on the laws of supply and demand. No one wishes to put families out on the street, but there are alternative methods which some feel would be more effective in nature.

One method in particular is to expand the Urban Growth Boundary.

In the end, there’s no telling how long it will take for an appeal to play out, but it’s likely that by the time a ruling is issued, Portland’s policy will have changed. A lengthy list of changes to the law has already been presented.

Of these changes, the Portland Mercury reports the bureau appeared to be favoring changes which, “included offering relocation assistance only to tenants with rents below a certain monthly threshold, changes to how information about the law is disseminated to the public, and exemptions regulated affordable housing providers in some scenarios.”

If you have questions about how these legislative shifts in the Portland marketplace could impact the management of your residential investment portfolio, we’d love to offer a complimentary assessment and get you in touch with one of our property management experts.

At InterWest Properties, we’re committed to keeping you informed and representing property owners when it comes to their rights as real estate investors. If you’d like to speak with one of our Portland property experts, please reach out and give us a call: (503) 256-2323

You Can Get a FREE assessment of your rental property by Starting Here!

Do You Need a Property Manager in Portland? – Part 2

Do You Need a Property Manager in Portland?

In our previous article, we talked about three questions smart property investors ask themselves when considering hiring a property manager.

  1. What Is Your Proximity to Your Properties?
  2. How Do You Handle Sudden Excitation?
  3. Are You Experienced with Home Maintenance and Repairs?

These three questions address many of the concerns or hesitations that property investors have when they come to us for a complimentary consultation about their property portfolio, but there are certainly other factors at play.

In this article, we’ll be highlighting some additional questions that are important to ponder before hiring a property manager.

How Many Total Properties to You Have for Rent?

One of the most enthusiastic calls we receive from property investors is that they are seeing great success and they want to poise themselves for even greater success by engaging our team of expert property managers.

On the flip side, one of the most distressing calls we receive is from property investors who waited longer than they should have to call us. They wanted to save some money and make a tiny bit of extra profit and so they kept doing everything for just a little too long and now it’s becoming uncomfortable for them to grow any further.

In either scenario, we have a team with years of professional property management experience in the Portland and surrounding markets. We are able to easily help property investors take stock of their portfolio and design a roadmap with them that points towards future growth and success.

Smart property investors know that the more properties they own, the easier it is to spread the cost of maintenance, repairs, and other expenses over all of them. They make more money, faster, by expanding their portfolios. We provide the team and resources to make that expansion successful and pain-free.

Have Your Properties Been On the Leasing Market for Too Long?

There’s no doubt that leasing and selling investment properties is more of an art than a science. We see all too often self-taught property investors who have a really keen sense of the investment world through books and courses they’ve taken but are missing some of the core elements that often go overlooked in those educational programs.

In property management, experience is everything and working with someone who has already “been there, done that” can be a thrilling way to accelerate your property portfolio and learning curve.

Do you have properties that are still vacant and starting to make you uncomfortable? Let someone on our team assess your current leasing strategy on a complimentary call.

If you’re looking for better ways to assess the market lease value of your property, attract higher quality tenants, make sure you’re collecting all of the proper legal paperwork, and just wanting to learn or turn over some of your responsibilities to a seasoned pro—a good property manager in Portland can help.

Are You An Accountant and Good With Paperwork?

We meet so many creative property investors who have an absolute loathing for paperwork. They are smart, savvy investors, but their skillset is being able to find, negotiate, and purchase properties. They often find that all of the minutiae and paperwork that comes along with property investment and leasing prevents them from actually enjoying the property investment process.

That’s where a great property manager in Portland can step in and take the reigns, allowing you to do what you’re best at—finding great properties. There are so many advantages to having a sharp eye looking over your paperwork and accounting books. We’d love to share more about how we approach property management accounting, payroll, and more.

One of our property management experts would love to speak with you on the phone to help you grow and better understand the opportunities available to you in your property portfolio. Call us, today: (503) 256-2323

You Can Get a FREE assessment of your rental property by Starting Here!

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