The condition of the paint or stain on your rentals can be your ambassador of curb appeal. Its appearance can say a lot about your properties. And yet, you could be spending a healthy portion of your maintenance budget on a much too short re-coating cycle. Most property managers will agree that keeping a paint or stain film on exterior wood is a never-ending job. (more…)
When that itsy bitsy spider comes down the waterspout or hangs over the baby’s crib, should we, as property managers or landlords, care? I conducted a random survey of property managers to find out what policies, if any, there are concerning insect and rodent issues. Surprisingly, no two are alike. However, there are common elements in most policies to consider when developing or reviewing a bug policy. (more…)
A hole in a plaster wall, a broken window, crayon marks on the ceiling, cabinet doors torn off their hinges—those are obviously above and beyond normal wear and tear. How about a worn place in the carpet, or tiles on the kitchen floor that are cracked or missing? That is where the tenant can claim that he does not owe a dime of the security deposit because that was just “normal wear and tear” and you cannot charge him for that. Less than stellar tenants are experts in “normal wear and tear” because they have caused so much of it. So what really is considered “normal wear and tear?”
A rule of thumb to follow, whenever there is a question about who should pay for damage, the landlord should pay. In this tip, however, I will remove some of the question and possibly enable you to get a better idea of when you should deduct money from the security or cleaning deposits. (more…)
Bend, OR, May 4, 2020: The First Quarter of 2020 was shaping up to be a strong year for real estate in Central Oregon according to data from the Multiple Listing Service of Central Oregon (MLSCO). Sales for residential properties in Crook, Deschutes, Jefferson and Harney counties were up 14% in 2020 compared to 2019: (more…)
According to the American Pet Products Association, 65% of Americans have pets. This means that a large percentage of your market owns at least 1 pet. If you don’t allow them in your rental, you’re missing out on potential profit by eliminating two-thirds of prospective tenants before they even look at your vacant unit.
There are both pros and cons to allowing pets in your rental properties. They can do a lot of damage to your property and can be a disturbance to other tenants.
On the other hand, by allowing pets, you’ll have more potential applicants for your property. Considering the high percentage of pet owners and the fact that they typically lease longer, allowing pets could be very beneficial.
In this post, you’ll learn about the differences between the types of pet fees, pet deposits, and pet rent, and which ones you should charge as a property owner in Oregon and Southwest Washington. (more…)
Rental properties require continuous investment, for example, regular maintenance. If you work with a property manager, regular inspection/maintenance of your property is just one of his or her many responsibilities.
Many landlords avoid maintenance to cut costs without knowing the repercussions. Doing so will take away a large percentage of their future rental income.
Successful rental property owners have a proactive mindset. They acknowledge problems before they potentially become disasters. (more…)
Do you have a rental property in Oregon but do not know how to screen your tenants?
Tenant screening is essential. It’s like determining the right rent price or maintaining your property. Failure to focus could end up creating problems. (more…)
Every landlord dreads the thought of having a vacant rental property. Rightfully so, a vacant property can easily cost you thousands of dollars in potential income, seriously damaging your bottom line.
Besides the lost rent, you also have to look elsewhere to pay for property expenses such as mortgage costs, property taxes, and the costs of marketing the property all over again.
Keeping vacancies to a minimum is essential.
If you have been a landlord for a while, then you know that getting a good tenant isn’t necessarily that easy.
You need to do two things to be successful in the competitive world of rental properties:
A) Find a tenant of the right caliber.
B) Find such tenants quickly in order to fill your vacancies in the shortest time possible.
In this blog, you are going to learn 3 tips on how you can achieve these two crucial things quickly. (more…)
Anyone can own property in Oregon, but not everyone can manage it! Managing a property isn’t an easy walk in the park.
To have a successful rental business, you need a property manager that has the experience, skills, and industry knowledge.
The rental property business is competitive mainly because renters have such a wide range of options to choose from. For your property to stand out, you need to choose someone who understands the ins-and-outs of the business.
If you’re reading this, you probably already know what a property manager does. The next step is the find the right one to manage your rental property.
There are so many property managers out there, how do you improve your odds of landing the right one? Well, you do that by asking the right set of questions.
In today’s blog, we are going to take you through some of the best questions to ask a property manager when considering hiring them. (more…)