Are you thinking about renting your single-family Beaverton home, but you’re not sure if that’s the right decision for you to make or not? If so, you’ve come to the right place.
Rental income is a great way to generate steady and consistent cash flow in the 2020s, but the reality is that there are several things that you have to do first to ensure that you can earn a consistent income from your property.
#1 – Screen And Place The Most Qualified Tenants
The key to success when it comes to renting your single-family Beaverton Home is to screen and place the most qualified tenants.
To do this, you will need to do a complete background check on applicants, be willing to call their references, and pull their credit reports, to ensure that they are working full time and earning at least three times the rent that you’re charging for your property.
#2 – Develop Standards And Stick With Them
Besides screening and placing the most qualified tenants, you also must be willing to develop standards/rules and stick with them.
This means that you will have rules that your tenants must know that they have to follow or they will face fines and possible eviction from the property, if broken,
#3 – Create A Vendor Matrix
Once you’ve rented your Beaverton home, the next thing you must do is create a vendor matrix of trusted companies that you can call at a moment’s notice to assist you with things like plumbing and routine maintenance, to more advanced maintenance issues.
Having a vendor matric is essential because the last thing that you want to do is to perform maintenance on your property yourself because at that point, the income stream becomes an active income stream, instead of a passive income stream.
Contact Rent Portland Homes – Professionals
At Rent Portland Homes – Professionals, we specialize in local property management for the PDX area.
Our team will save you the time, money, and hassle of managing your Beaverton home yourself, so that you can enjoy passive income that comes from your property.]
To learn more about the property management services that we can offer you, contact us today by calling (503) 447-7735 or click here.