Portland has attracted a lot of attention from out-of-state investors. Compared to other real estate markets, the property prices in Portland are more attractive, and the potential for growth and high returns is better.
Investors who don’t live in Portland often hesitate before they purchase a rental property here. However, diversifying a real estate portfolio with investment properties from outside your home market is a great way to limit risk and increase your earnings.
As an out-of-state investor, choosing the right professional Portland property management company is critical. A successful investment experience will depend on local market expertise and innovative technology that makes communication easy.
We have those tools at Performance Properties, and we also have some good advice for investors who want to buy in Portland but live outside of the area.
Portland Property Management Technology
Communication is always important, but for out-of-state owners, it’s especially important because you want to feel connected to your investment and understand how it’s performing. You want to know immediately if a major problem occurs, and you’ll need to keep up on vacancies and repairs. Access to information is essential, and you’ll need a plan for communicating with your property managers.
The right management company for out-of-state investors will have a great online software system so you can log and see how your property and your tenants are performing. Expect access to accounting statements, repair records, leasing documents, and anything else that will demonstrate your property is in good condition.
Stay Up to Date on Portland Rental Laws
Living outside of Portland, you may not know when new security deposit laws are put into place or screening standards change. Local expertise on all state and city rental laws will keep you compliant and protected from liability.
In Portland, we have rent control laws that need to be followed and are always changing. As an out-of-state investor, it’s easy to make legal mistakes if you’re not protected. You’ll need a property manager who understands the law, stays up to date, and keeps you and your property in compliance.
Responding to Routine and Emergency Maintenance
Protecting the condition of your investment needs to be a priority. You cannot respond to maintenance issues from afar, and if they’re emergencies, you risk more expensive damages when things aren’t taken care of right away. Your management company must answer the phone 24 hours a day in case there’s a fire or a flood or some other disaster requiring an immediate response.
Maintenance concerns need to be discussed and planned. Routine maintenance can be taken care of swiftly and economically with the right property managers, and emergencies will result in immediate action.
Put some preventative plans in place so your investment remains in excellent condition. Ask for routine inspections and reviews of the property’s condition. You should receive pictures and detailed reports.
These are a few things that long-distance landlords and investors must think about when they’re investing in Portland. We have experience managing homes for investors and owners who live elsewhere. Contact us at Performance Properties to discuss your Portland property management needs.
Zack Zahm has worked in all aspects of single family and multi-family home management since 2004. In 1998, he graduated from Willamette University where he obtained a Bachelor of Science degree in History.
Zack currently manages the Portland Metro Region Number II, which consists of N Portland, NE Portland and St. John’s.
Sonja Snedeker has 18 years of experience in Property Management Accounting. She has worked for companies who specialize in multi-family residential, large commercial complexes as well as single family home management. Sonja served three years of active military duty and then graduated from Mt. Hood Community College with an Associates of Applied Sciences Degree in Accounting. Sonja is responsible for all aspects of accounting for Performance Properties, Inc.
Kimberly Sektnan, a licensed real estate broker for over 11 years. enjoys working with Buyers, Sellers, Landlords and Tenants to assist with their immediate real estate needs and goals. As an Oregonian for 20+ years, she loves spending time in the great outdoors with her kids. Passions include spoiling her grandson, her love for country music, horseback riding, rodeos and outdoor music festivals with friends! Buy. Sell. Lease. Happy.
Kimberly currently manages Portland Metro Region I.
Scott Gordon has been in property management and with Performance Properties, Inc. for the past 14 years. Prior to working with us, Scott had an extensive background in insurance and sales. Originally from Seattle, Scott moved to Southern California to attend UCLA where he obtained a Bachelor of Arts degree in Political Science. Eventually Scott made his way back to the Pacific Northwest where he earned his Property Manager’s License in 1996.
Nori Falconeri, President and Owner of Performance Properties, Inc. has been involved in property management for the past 40+ years. Her parents owned and managed a number of rental homes around the University of Oregon and Nori grew up helping them clean interiors and yards when a home became vacant. Nori earned a Bachelor of Arts degree in Rhetoric and Communications from the University of Oregon and went on to earn a Masters of Business Administration Degree with an emphasis on International Business. After she graduated, Nori spent 12 years as the Vice President of an International Freight Forwarding Company located in Portland and oversaw up to 40 million dollars in Department of Defense contract business. Property management came knocking on her door again when her parents sold their investment properties in Eugene in exchange for Portland properties before moving overseas. Thus began Nori’s property management career. Nori holds an Oregon Property Manager’s License and has worked as a fee manager for both residential and commercial property owners and has been an owner/investor for many years so she understands the dynamics of property management and of running a well organized, successful business. Nori handles the daily management of the company and also does Rental Evaluations throughout the Portland Metro Area.
Utilities Coordinator and Administrative Assistant
Jennifer Arroyo is Performance Properties’ Utilities coordinator and Administrative Assistant. She’s been with Performance Properties for five years and started as a leasing agent. She enjoys making the move in experience for tenants less stressful by handling utility transfers and making sure all information is set up and up to date. With her customer service experience of more than seven years, she is more than happy to assist wherever she is needed, especially when it comes to our bilingual tenants and owners. In 2019, she graduated from Portland State University with a Bachelor of Arts degree in Communications and Bachelor of Arts degree in Spanish. In her free time she loves to spend time with family, and on top of that, continues studying to pursue her master’s degree.
Erica has worked in the property management industry since 2005 where she began as an onsite manager at a multi-family complex. While working, Erica obtained her Associate Degree in Management and Supervisory Development as it complimented her love of training and mentoring new associates. She enjoyed property management work so much that she completed and passed her coursework to become licensed as a property manager four (4) years ago. Over the past six (6) years she has enjoyed her career as a portfolio manager working with both multi-family and single family homes. She really enjoys the challenges that being a property manager provides including problem solving and excellent communication with both tenants and owners. When she is not working, she enjoys being outdoors and spending time with her family.
Grace has worked in customer service for several years. She started with retail, living in New York. She moved home after a year and started working at Nordstrom being the jack of all trades. After three years of working in the service experience department, she decided to expand her horizons and try something different. She’s super excited to learn and experience the world of leasing/property management, in hopes of possibly getting her real estate license one day or expanding more into the role of property management.
Sloan is a Portland native specializing in the local housing market and lifestyle. He joined the real estate world in 2021 and prioritized himself in becoming one of the top real estate brokers in Oregon.
Growing up watching his father build a successful construction company – Rodarte Design & Remodel, Sloan naturally developed his love for Portland homes and learned how to give superior service to his clientele. With a strong background in luxury sales and love for networking, he prides himself with his work ethic, loyalty, and commitment to helping others reach their goals.
Sloan earned his degree in Advertising from the University of Oregon boosting his affluence in business strategy and social media marketing.
Being a part of Oregon’s top property management company and real estate brand — Performance Properties Inc, Sloan is committed to excellence in helping you with your real estate desires.
Jennifer has lived in Oregon most of her life, having grown-up in Troutdale,OR.
She is a mother of 4 and stepmom to 6 and grandmother to 7 grandkids.
She is a Freelance Photographer.
She loves the Winter season. The outdoors are where she’s most comfortable and at peace.
She has had a drive to help people live their best lives.
Working for Performance Properties, Inc allows her to do that.
Pete Kirby has lived in Portland for 20 years where he has been engaging in the real estate business. Prior to moving to Oregon, he was an Investment Banker, first with Smith Barney and later SoundView Technology Group/Wit Capital in San Francisco.
His Portland real estate career began by managing a single home for a family member in 2001. He grew his business through the years, translating his investment banking skills to property management and other real estate transactions. His company, Kirby Real Estate LLC, distinguished itself from others where his clients seek him out for financially sound real estate purchase/sale decisions. Recently, in 2021 he has joined forces with Performance Properties.
Pete takes a real “hands on” approach to property management utilizing clear communications with owners and tenants. He creatively resolves maintenance and repair issues of both commercial and residential properties using his years of experience. He is also a Real Estate Broker and has considerable experience with buying/selling private as well as commercial real estate, always with a sense of humor.
Pete obtained his Bachelors of Science in Finance from Portland State University, Portland, Oregon, and holds a Principal Real Estate Broker’s license in Oregon. He is married to his wife Nupur. She is a scientist and teaches at a local University. Pete is a proud father of his son who is deeply interested in the mythologies of the world, and two silly dogs. Pete’s interests include international gourmet cooking (actually, watching my wife do the gourmet cooking!), bicycling, and travel.