Portland Rental Property Owner FAQs
If you’re looking for additional reasons to work with us, or answers to the most frequently asked questions we hear from Portland rental property owners, you’ve come to the right place. If you don’t see your question answered – reach out to us. We’re always happy to help.
Why Work with Performance Properties, Inc.?
10 reasons why you need to use Performance Properties for your property management needs:
- So you don’t have to show the property to potential tenants.
- So you don’t have to do background or credit checks and tell the applicant they’ve been denied.
- So you don’t have to collect the rent every month.
- So you don’t have to handle any evictions.
- So you don’t have to be the referee between two tenant neighbors who are fighting.
- So you aren’t woken up in the middle of the night with an emergency call.
- So you don’t have to do walk throughs (we do annual inspections).
- So you don’t have to know all the current real estate laws and stay on top of all the changes.
- Because you need to find something to do with the extra time and money you’re going to save. Like acquiring new properties – not managing them.
Frequently Asked Questions
Q: What kinds of properties make good monthly rentals?
A: Most requests are for homes that have between 2 and 4 bedrooms. We also have a lot of requests for two to three bedroom units in small plexes that have a garage.
Q: What kind of vacancy time can I expect?
A: It really depends on the competitive price of the rental, the location, and the market. The average vacancy factor in Portland for a single-family home is usually 5 to 6 percent.
Q: How long does it take to rent a home?
A: It really depends on the time of year as well as price, location, and market. We usually tell our clients to expect it to take 6 to 8 weeks to find a tenant in the winter months and 2 to 4 weeks in the summer months.
Q: How do we set a rental price for the home?
A: We compare your home with others we have in our inventory with the same amenities. We also look at what homes are available now which are comparable to yours and we look at market conditions to determine a rental price.
Q: When do we receive our rental proceeds?
A: We deposit or mail your rental proceeds so that you receive them no later than the 25th of each month.
Q: How much security deposit does PPI collect?
A: We collect one months rent in most cases. However, if the home is in the city of Portland, security deposit could vary. Please call us for additional information.
Q: What is PPIs pet policy?
A: That depends on the owner’s wishes. Most of our properties do allow pets as about 70-80% of the population owns a pet. We take additional pet rent for dogs and cats. We take liability into consideration and do not allow certain breeds of dogs that could potentially be vicious. If you do not wish to allow a pet, we do want you to be aware that your vacancy time will increase by several weeks. However, it is important to note that pets with the “service animal” designation must be accepted without a security deposit.
Q: Who does the maintenance on my property? Can I use my own contractor?
A: Our tenants contact us to report any repairs that are needed. We have a staff of skilled maintenance technicians who can handle most of the repairs necessary on a home. However, if the repair is outside our scope of capability, we have a list of vendors who specialize in different maintenance areas whom we can call for repairs. You can certainly choose to use your own contractor if you are more comfortable with that.
Q: What happens if you have to evict a tenant?
A: We use a service that files our paperwork with the courts and makes our first court appearance. After the first court appearance we handle the follow through with removal of the tenant if necessary.
Q: What to Expect When You're New
Areas We Serve
Clackamas County, Multnomah County, Washington County.