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.
Senate Bill 608 went into effect in 2019, and landlords throughout Oregon are still struggling to understand its scope and how it applies to their particular rental properties.
The Fair Access in Renting, or F.A.I.R. Ordinance, went into effect in Portland on March 1, 2020. These are new requirements for tenant screening. The law went into effect almost immediately after it was passed, leaving landlords and property owners unsure about what that law means for them and their rental property.
