The real estate market is in a place where demand is far outpacing supply and prices are high. Portland real estate has always been competitive, and right now median list prices are more than 11 percent higher than they were at this time last year.
The real estate market has not exactly been dormant this year, and right now it favors sellers. If you’re a Portland rental property owner who is thinking about selling a property, look to your property management company for help before you talk to other Realtors.
The landlord and tenant laws have changed in Portland this year, and screening tenants is more complicated than it’s ever been. Your screening process must be well-documented, and you have to demonstrate that you’ve approved the first tenant who meets all of your screening criteria.