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.
Investing in commercial properties in Portland is a smart way to diversify your real estate portfolio and increase your earnings. If you’ve never invested in commercial real estate before, surround yourself with experts who can help you navigate the process. There’s a lot of potential here, but you have to know how to make smart choices.
Communication also makes an impact on what you earn with your investment property, and many owners take it for granted. A successful rental property owner knows how to communicate well with diverse audiences of tenants, vendors, and property managers.
Maintaining your Portland rental property often feels like a headache because it can be expensive and time-consuming. Protecting the condition of your investment is non-negotiable, however. You need to pay attention to maintenance and you need to keep your property safe, habitable, and profitable.
Avoiding long term vacancies is necessary for a successful and profitable investment experience. Your Portland rental property loses money when it’s not occupied, and the longer it’s vacant, the harder it is to earn back what you’ve lost. There’s no rent coming in, and you have to pay to clean and maintain your home while keeping the utilities on so prospective tenants can see it.
