How to Maximize Rental Income with Lake Oswego Property Management

by | May 9, 2025 | Property Management Education | 0 comments

We know that owning a rental property in Lake Oswego takes a serious commitment—both financially and time-wise. Between mortgage payments, maintenance costs, and the occasional late-night plumbing emergency, every dollar counts. The good news? With the right approach (and a bit of strategy), your rental property can do more than just “cover the bills”—it can generate solid income.

We’ve helped property owners boost their rental income for years, and we’ve picked up a few tricks along the way. Whether you’re managing one condo or a handful of single-family homes, there are smart, practical ways to get the most from your property.

Let’s break it down.

Table of Contents

1. Set the Right Rental Price

This might sound obvious, but you’d be surprised how many landlords either overprice or underprice their rentals. Too high, and you scare away good tenants. Too low, and you leave money on the table.

We use local market data, seasonal trends, and competitor analysis to help our clients set a fair and profitable rent. For instance, according to a source, in May 2025, people in Lake Oswego, OR are paying around $1,870 a month for rent. That’s $246 more than the national average of $1,624, making it one of the more expensive cities to rent in across the country. That kind of info matters.

2. Keep Vacancy Rates Low

Every day your property sits empty is a day of lost income. Reducing vacancy starts with good planning.

We typically recommend:

  • Starting lease renewal conversations early (at least 90 days out).
  • Offering competitive incentives to retain reliable tenants.
  • Marketing listings at least 30 days before move-out.

In our experience, reducing your vacancy by just one month a year can increase annual income by 8–10%.

3. Make Smart Upgrades

You don’t have to gut the kitchen or install a hot tub to make your rental more appealing. Small upgrades often make a big difference.

Here’s a quick comparison of cost-effective improvements and their estimated return:

Upgrade Avg. Cost Rent Increase Return on Investment
New appliances $2,000 $150/month High
Fresh paint + new flooring $3,500 $200/month High
Smart home features $400 $40/month Moderate
Curb appeal landscaping $800 $50/month Moderate

Tenants love clean, modern spaces. We once helped a client boost rent by $250/month just by replacing outdated countertops with mid-range quartz.

4. Use Professional Marketing

That blurry phone pic of the living room isn’t going to cut it.

We hire professional photographers and write engaging listings that highlight the best features of each property—light, layout, location, you name it. We also list across multiple platforms like Zillow, Apartments.com, and even social media. The result? More eyeballs, more inquiries, faster leases.

According to RentPath, listings with professional photos get 60% more clicks than those without. Worth it.

5. Screen Tenants Carefully

Want consistent rental income? Start by choosing the right tenants.

We run thorough background, credit, income, and rental history checks. It’s not about being overly selective—it’s about making sure your property stays in good hands. Late rent payments, property damage, or even eviction filings can eat up thousands.

Pro tip: We’ve found tenants with strong credit and no evictions are 3 times more likely to renew leases long-term.

6. Respond to Maintenance Fast

If a tenant reports a leaky faucet on Monday and you don’t fix it till Friday, don’t be surprised if they don’t renew.

Fast, reliable maintenance not only keeps tenants happy—it helps prevent bigger repair bills down the line. A minor roof leak can become a mold nightmare if ignored. We have a 24/7 maintenance response system, and we’re proud to say our average response time is under 48 hours.

7. Stay Compliant with Local Laws

Lake Oswego and Oregon as a whole have specific rental laws—on rent control, security deposits, eviction processes, and more. Slip up, and you could face fines or legal trouble.

We stay current with all local regulations, so our clients don’t have to worry. For example, Oregon limits rent increases to 7% plus inflation per year (source: Oregon.gov). That’s something every landlord should know before raising rent.

8. How Property Management Can Help

This is where we come in.

At Performance Properties, Inc., we handle everything from pricing and tenant screening to maintenance and compliance. We’re local, we know the Lake Oswego market, and we care about your success.

Many of our clients come to us because they’re tired of being “on call” 24/7—or they’ve had a rough experience with tenants. We get it. Managing property is hard work. But with the right team behind you, it doesn’t have to be.

Using professional Lake Oswego property management can increase rental income by 10–15% on average when you factor in reduced vacancies, optimized rent pricing, and lower maintenance costs.

9. Final Thoughts

Making the most of your rental property isn’t about squeezing every last dollar—it’s about smart decisions, good relationships, and consistent results.

We’re here to help with all three.

If you own a property in Lake Oswego and want to earn more without the stress, give us a call or visit us today. Let’s talk about how we can help you get more from your investment—without you having to do more.

Hey, that’s what we’re here for.