Things That Kill Your Profits As A Real Estate Investor

Rental properties continue to be an excellent hedge against inflation but, several things can effectively kill your profits as a Beaverton Oregon Real Estate Investor.

In this article, we will break down some of the things that you should not be doing in your rental property business.

Tip #1 – Not Turning Over Your Vacant Units Quickly

One of the first mistakes that many owners make is taking their time to turn over their vacant units.

Moving quickly when you have a vacant unit is essential because, the longer it’s not occupied, the more you will have to face-covering your mortgage, insurance, and other costs out of pocket.

From the moment that your tenant alerts you that they are going to be moving, you should move forward with getting the property ready for your next tenant. Getting the property ready, marketing, and advertising all takes time and it’s better to start early instead of waiting too long to get that done.

Tip #2 – Not Screening Tenants Effectively

Let’s face it, tenant screening is one of the keys to success with owning rental properties that produce consistent profits because, if you screen tenants improperly, you may rent to tenants who make your life difficult.

To avoid renting to the wrong tenants, it’s important to invest the time in thoroughly screening tenants correctly each time, including asking the right questions because, investing the time in tenant screening will produce long-term, consistent rental income for you.

Tip #3 – Handling Maintenance Issues Poorly

Rental property maintenance is something that every owner should outsource immediately because, it’s easy to think that you can handle the maintenance yourself but the reality is that when maintenance is mishandled, it can be very costly.

From your first month of owning a rental property, you should focus on building a vendor matrix. Doing this will help you to effectively know who to call when you have maintenance needs at your property.

Contact Rent Portland Homes – Professionals

Ultimately, hiring a property manager is the smartest decision you can make as a landlord because it saves you the time and hassle of managing your property yourself.

To learn more about the services we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.

fire pit
Should You Add A Fire Pit At Your Rental Property?

Are you thinking about adding a fire pit to your Beaverton Rental Property? If so, you’ve come to the right place!

Adding a fire pit is a smart investment to make, especially during the summer months, when people tend to spend more time outside.

In this article, we will cover everything you need to know about fire pits so that you can choose the best one for your rental property.

Gas Fire Pits

Gas fire pits are ideal because of the simple fact that once the gas is turned on, the fire pit will produce an instant flame.

Installing a gas fire pit may be more costly than a traditional wood fire pit, and they may require more maintenance during the year, but these fire pits also offer the following benefits:

  • Adds A Sense Of Style to Your Outdoor Living Area
  • Extends The Outdoor Season For Your Tenants
  • They Turn On and Off Easily
  • Gas fire pits hold Up Well to the Elements

Traditional Fire Pits

Before installing a tradition fire pit on your property, make sure that you are choosing a location that’s no less than 15 feet away from your rental property, and ten feet away from power lines. This is important because you want to have peace of mind that no sparks or embers will catch your property or nearby structures on fire.

It’s also best to study the prevailing wind direction online so that you can best determine how the wind will blow once the fire is lit.

The fire pit must by at least 44 inches wide and 14 inches high. These dimensions ensure that people will be able to sit comfortably at the end of the fire pit.

Regardless of the style of fire pit that you choose, it’s also best to add a fire extinguisher next to the fire pit, so that tenants can easily put out fires should they begin to get out of control.

Tenants should also be instructed about fire pit safety when they move in, including basic tips like the following:

  • Don’t use flammable fluids (gasoline, lighter fluid, etc.) to light or relight fires.
  • Don’t wear flammable clothing (like nylon) or any loose-fitting clothing.
  • Keep children and pets at least three feet away from the fire.
  • Avoid using soft woods like pine or cedar, because they can pop and throw sparks.
  • Keep a fire extinguisher, garden hose or bucket of water nearby.

More

Contact Rent Portland Homes – Professionals

For more property management tips, or to speak with us about the property management services we can offer you, contact us today by calling (503) 447-7735 or click here.

property manager
What Is Your Beaverton Home Worth In The Rental Market?

Are you thinking about renting your Beaverton Home but you’re not sure what it’s worth in the current rental market? If so, you’ve come to the right place.

There’s no denying that the rental market is even more competitive than ever before but, the good news is that you can determine what your property should rent for when you follow these tips.

beaverton rental home

Tip #1 – Review Your Property Age And Condition

Your home may be a much-loved family home but, if it’s not been painted or renovated in some time, the age and condition of the property will affect what you can rent that property for.

Take the time to think like a renter and critically analyze your property from the front door to the back door because, this will help you to determine if your Beaverton home is ready to be rented or not.

Does the property need?

  • New flooring
  • Paint
  • Furnishings
  • Light fixtures

If the property has been well-maintained over the years, you may be able to invest in minimal repairs/upgrades before listing it for rent but, if your Oregon property needs major repairs, like a new roof, you should commit to making those repairs now before renting it out.

Tip #2 – Do A Comparable Analysis

After getting your property ready for rent, you should do a comparable analysis to determine what other similar properties in the Beaverton area are renting for.

During your comparable analysis, you will also be able to determine if adding additional amenities like onsite storage, dog run, patio or an RV pad will help to improve the value of your property and help you to rent it for more money.

rental property

Tip #3 – Hire A Property Management Company

Even though you could manage your rental property yourself, hiring a property management company is the best way to earn the most ROI from your property possible.

A property management company will save you the time/money and hassle of managing that property yourself, so you can focus on enjoying your life while earning passive income from that rental.

Contact Rent Portland Homes – Professionals

At Rent Portland Homes – Professionals, we offer local property management services for both single-family and multifamily properties in the Beaverton area.

To learn more about the services that we can offer you, contact us today by clicking here or call us at (503) 447-7735.

Rental Property Upgrades That Are Not Worth The Money

Are you planning on making upgrades to your Beaverton rental property?

Upgrading your rental property will help increase the value of your property, and keep your tenant happy, but some upgrades are not worth the money.

In this article, we will break down upgrades that you should not make to your Beaverton rental property.

THINKING OF RENTING YOUR HOME

Upgrades That Are Not Worth The Money

Granite Counter Tops – Yes, even though granite countertops are a favorite feature that many home design show gurus add to their rental properties, the reality is that these countertops are not worth the best investment for a rental property.

Granite countertops are not worth the investment because they are more costly than other solid surface countertop types and they can also be difficult to keep clean.

Elaborate Landscaping – When it comes to your Oregon rental property landscaping, all you need is a clean look in the front yard and a suitable backyard that also offers room for play.

What you don’t want to do is get elaborate with landscaping and add plants that require more time and maintenance because most tenants don’t want to spend time maintaining landscaping.

Wood Flooring – Every landlord wants to add the best features to their homes but wood flooring isn’t always the best option because it can be hard to clean/maintain and many tenants won’t have the time to invest in keeping the flooring clean.

For best results, use carpeting in the bedroom and dining areas, then use laminate or another type of high-use flooring that can easily be cleaned when needed.

Contact Rent Portland Homes – Professionals

At Rent Portland Homes – Professionals, we specialize in property management for single-family and multifamily properties in the PDX area.

Our team can help with you our full suite of property management services which include rent collection, maintenance, customer service, accounting, and more

For a property management quote, contact us today by calling (503) 447-7735 or click here to connect with us online.

How To Future Proof Your Beaverton Rental Property

Are you planning on turning your single-family home into a Beaverton Rental property? If so, like most owners you’re probably concerned about wear and tear at your rental property.

Wear and tear are a fact of life when you own a rental propert, but the good news is that you can easily prepare that property for wear when you ‘future proof’ it by following these simple tips.

Tip #1 – Choose Durable Materials Vs. Trendy Materials

Even though you may be tempted to install granite countertops and a stylish backsplash in your kitchen, the reality is that those features will cost more than durable materials and they may not last as long.

Focus on choosing durable materials each time you plan on investing in upgrades for your property and you will find that those materials cost less and last longer than trendy materials.

Tip #2 – Choose Neutral Floor And Wall Colors

Another way to ‘future proof’ your Beaverton rental property is to choose neutral floor and wall colors.

This tip is effective because it will save you the hassle of having to search for specific custom colors each time you have to repaint and most of all, your rental property will have a timeless appeal.

Also, when it comes to installing flooring, you should install hard surfaces next to entryways on the property. Doing this will help your tenants to keep the carpet clean and ensure that it will last longer.

Tip #3 – Choose Quality Light Fixtures And Bulbs

Last of all, but most important, another effective way to ‘future proof’ your property is to choose good quality light fixtures and bulbs.

Light fixtures can easily last 10-20 years so it’s best to invest in good quality fixtures that will last.

When choosing light fixtures for the bedrooms in your property, consider adding ceiling fans. Doing this will make it easy for your tenants to cool the rooms in the rental property without having to run the air conditioner.

Contact Rent Portland Homes – Professionals

At Rent Portland Homes – Professionals, we specialize in property management for single-family and multifamily properties in Beaverton and across Portland.

To learn more about the property management services that we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.

rental property
Rental Property Maintenance Tips For Making The Carpet In Your Rental Last

Searching for rental property maintenance tips? If so, you’ve come to the right place!

Flooring can be one of the most expensive investments that a landlord can make in their rental property and if the landlord doesn’t screen and place the most qualified tenant, they could find themselves replacing the carpet in their property every 12 months.

If you don’t want to replace the carpeting in your rental property every 12 months, make sure you follow these simple tips.

Tip #1 – When Laying Flooring, Add A Hard Surface Area At All Entry Points

During the process of laying flowing at your property, you should always add a hard surface area at all of the entry points at your property.

Doing this will encourage your tenants, and their guests, to wipe their feet before entering the property and this one simple tip will greatly reduce the spread of dirt on the carpets inside your property.

Tip #2 – Get The Carpets Professionally Cleaned Once A Year

It doesn’t matter if you just invested in new rental property carpeting 12 months ago, you should have those carpets cleaned at least once a year.

An annual carpet cleaning will stop dirt and filth from becoming fully embedded into the carpet pad and will help to preserve the lifespan of the carpeting as a whole.

Tip #3 – Give Your New Tenant A Good Vacuum Cleaner

One of the best things you can do for new tenants is to give them a new vacuum cleaner when they first move in.

This simple gesture will encourage them to vacuum more often and ensure that they will have the tool that they need to keep the carpet inside your Oregon rental property clean.

Contact Rent Portland Homes – Professionals

At Rent Portland Homes – Professionals, we specialize in local property management for the Beaverton Oregon area.

To learn more about the property management services that we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.

tenant
Solutions For Dealing With Terrible Tenants

Life as a landlord can certainly be interesting and one thing that every landlord has to expect sooner rather than later is having a terrible tenant.

Thankfully, dealing with terrible tenants can be easy, especially if you follow these simple tips.

Tip #1 – Stay Calm And Objective

The most important thing to do when communicating with a terrible tenant is to stay calm, rational, and objective because if you let your emotions get in the way, that will only make the problem worse.

Besides approaching the situation calmly, you should also be willing to listen to all sides of the story because the tenant may not be as bad as you initially thought.

MAXIMIZE YOUR RENTAL INCOME

Tip #2 – Keep Records Of Everything In Writing

Once you first reach out to the tenant, the next thing that you must do is keep records of everything that was said between you and the tenant in writing.

Having written records of everything is essential because this will eliminate any questions about what was said in your communication with the tenant and those records will help should you need to evict your tenant as well.

Tip #3 – Teach Them How They Should Communicate With You

Last of all, but most important, if the main issue with the terrible tenant is poor communication, you should teach them how they should treat you and eliminate any issues with communication in the future.

This also means offering your tenant multiple ways to reach you should they need to contact you shortly.

Contact Rent Portland Homes – Professionals

At Rent Portland Homes – Professionals, we specialize in local property management for the Portland Oregon area.

Our team of property management also consists of professionals that are experts in the landlord-tenant relationship.

To learn more about the services that we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.

Tips For Preventing Crime At Your Rental Property

Are you searching for tips on how to prevent crime at your rental property? If so, you’ve come to the right place.

There’s no denying that crime has been a major concern for landlords nationwide as it’s continued to increase in many areas.

Thankfully, landlords can do their part to prevent crime at their rental properties by following these basic tips:

Tip #1 – Improve The Curb Appeal Of Your Rental Property

One of the key things that criminals look for is a home that has overgrown trees or bushes because overgrown vegetation creates ideal hiding places for criminals to break into homes or rob tenants when they are entering those properties.

Tip #2 – Invest In Security Lighting

After cleaning up the exterior of the property, another convenient way to improve the security of your rental is to invest in security lighting.

Ideally, you should have lights leading from the parking area, or driveway, to the tenant’s front door because if the path is unlit, this creates more spaces for criminals to hide and target unsuspecting tenants.

Tip #3 – Consider Smart Security Upgrades

Another ideal way to make your property safer for your tenants is to invest in smart security upgrades like an alarm system or at the very least, a video doorbell that the tenant can use to see who is actually at the door before they open it.

Contact Rent Portland Homes – Professionals

At Rent Portland Homes – Professionals, we offer the property management services that you need to succeed as a landlord in today’s changing rental market.

Our team provides all of the property management services that you need so that you can enjoy the passive income that comes from owning rental properties.

To learn more about the property management services that we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.

rental property
What Are The Intangible Features That You Need To Attract New Tenants?

If you’ve owned rental properties in Beaverton Oregon for some time, you know that the job of being a landlord is getting more difficult each year because the rental market is 24-7-365 and landlords need to do more than just put up a ‘for rent sign.

In this article, we will share with you some of the ‘intangible features’ that you can use to make your rental property stand out from other comparable properties and attract more qualified tenants.

Your Property Must Be Well Represented Online

The first intangible feature that your rental property must-have is a presence that’s well represented online. This means that you must do more than just list the property on Craigslist, or Facebook Groups, you must have a website where you can showcase that property in greater detail.

A Helpful And Professional Landlord

Besides having a great presence for your property, you also must have a helpful and professional landlord who is available to engage with tenants, answer their questions and screen them to see if they will be a good fit for your rental property.

Excellent Communication

Another important feature that you must offer tenants is excellent communication, this means that they should be able to make contact by telephone, text, or email and you should be able to respond to them promptly.

Quality Maintenance And Well-Timed Upgrades

Last of all, but most important, maintenance is also another essential feature that tenants are looking for in a rental property because the average renter doesn’t want to feel like their property is falling around them.

Your goal should be to perform quality maintenance at your property on a quarterly or annual basis as well as well-timed upgrades that add value to the property while showing your tenants that you want to continue keeping the property as nice as possible for them.

Contact Rent Beaverton Homes

At Rent Beaverton Homes, we specialize in local property management for single-family and multifamily properties in Beaverton and the surrounding areas.

To learn more about the property management services that we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.

Can You Avoid Eviction While Still Getting A Tenant To Move Out? Yes

Do you have a tenant living in your Beaverton rental property that you want to evict but you’re wondering if there are other alternatives to eviction that will get them out? If so, you’ve come to the right place.

Let’s face it, no landlord (or tenant) likes eviction because an average eviction can between 1-2 months and be very costly.

Thankfully, landlords don’t always have to choose eviction as their only alternative for getting a problem tenant out, especially if they follow these tips.

THINKING OF RENTING YOUR HOME

Offer Cash For Keys

Cash for keys is one of the oldest eviction alternatives out there today because there’s nothing simpler than offering your tenant a certain amount of cash if, they are willing to move out by a set date.

The key to success with a cash-for keys agreement is to make sure that you’re in full agreement with your tenant on the money that they are willing to accept and the terms of the agreement then it must be in writing.

Once the agreement is signed, you should do everything possible to make the situation work for your tenant, even renting them a U-Haul for the day, so they can move out with as little hassle to you as possible.

Talk With The Tenant

Many times, simple communication with a tenant is the key to success when it comes to turning a problem tenant into a good paying tenant once again.

If your tenant is behind on their rent, it’s best to reach out to them and find out what you can about their situation then do everything possible to resolve it.

They may be able to catch up on the back rent, if you agree to a payment arrangement, then once paid your tenant could likely return to the same attitude and responsible behavior that they had before.

Avoid These Mistakes When Trying to Get Tenants to Move Out

When you find yourself desperate to remove tenants from your properties, you may consider some more extreme measures. Some landlords make the mistake of attempting to rid themselves of their tenants without respecting lease agreements. Others use self-help eviction methods where they retake possession of a property without using the eviction process. Avoid using any of the following methods to force a tenant to leave your rental property:

Example of Illegal Self-help Evictions

  • Changing the locks while the tenant still lives on the property
  • Removing the tenant’s property
  • Failing to pay included utilities like water, cutting them off
  • Threats of any kind
  • Direct orders to leave

Landlord Consequences of a “Self-help” Eviction

If you do use any of these methods above, you could easily find yourself in hot water. A lawsuit is the last thing anyone in business should want to deal with, and any of these could be offenses that could lead to your tenant rightfully suing you and damaging your business.

Every state has rules that all landlords must follow when removing a tenant from their property. Below we compare four different areas to demonstrate the potential consequences landlords face for taking the law into their own hands.

More

Contact Rent Portland Homes – Professionals

At Rent Portland Homes Professionals, we have decades of experience managing local rental properties.

Our team is experienced at all aspects of property management so you can move on from DIY property management and enjoy the passive income from your rental property.

To learn more about the property management services we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.