Rental Market Tips

Living Room Realty believes everyone deserves Room to Live. That’s why we have a Property Management and Rental Services Team that employs the latest technology and creative marketing strategies to serve tenants who need a home, and homeowners or investors who need to get their properties rented. We take care of all the hassles while streamlining the process for everyone.

We want tenants to Love Where They Live, and work to match individuals and families with a safe, secure home that meets their needs and requirements. We work seamlessly with Living Room agents and provide the same exceptional service that clients across Portland have come to rely on.

Whether it’s a homeowner who moves out of state and decides to rent their home, a client who buys an investment property, or an investor with multiple houses, Living Room Property Managers are down-to-earth, experienced professionals who provide solutions while saving time and money.

We asked Brad Twiss, a Living Room Property Manager, and Carson Mead, a Living Room Realtor and Rental Agent, what renters and owners need to know this season.

RENTERS

• Be diligent in your search and prepare to act quickly.

• Get necessary documents in order (pay stubs, offer letter, tax return, etc).

• Bring your checkbook!

• Remember, some owners and property managers still run their business on paper and you'll want to be ready to secure something immediately.

One of the surprising results of a strong housing market is that many investors are selling their rental properties. There a lot of displaced renters interested in houses, and we have a long wait list of tenants ready to rent single family homes. While the new, amenity rich apartment buildings are easing some of the strain and some are offering incentives, such as one month free rent, many people just want what they can’t offer; a backyard.

If you’re looking for a good value in a neighborhood with access to different parts of town, Carson suggests checking out the Gateway area. There are also so good values available in North Portland.

One of the surprising results of a strong housing market is that many investors are selling their rental properties. There are a lot of displaced renters interested in houses, and we have a long wait list of tenants ready to lease single family homes. New, amenity rich apartment buildings are easing some of the strain. A few are offering incentives--such as one month free rent--but many people just want what they can’t offer; a backyard.

If you’re looking for more affordability in a neighborhood with easy access to different parts of town, Carson suggests checking out the Gateway area. He also finds there are good values still available in North Portland.

Property Owners

It's important to keep in mind that a strong rental market doesn't mean landlords can charge arbitrarily high rents. Overpriced rentals will remain vacant, and the longer a property is on the market, the harder it will be to rent. Also, with higher market rents comes a higher expectation of care and maintenance from a tenant.

It's important to avoid loss of revenue while at the same time attracting the most suitable tenants and maximizing the operating results of each property. To achieve this, Brad stresses developing and executing an individualized plan to fit the needs and goals of each property owner in order to preserve and increase the value of every investment.    


 

Whether you are a renter or a property owner, connect with Living Room Property Management or call 503-929-5223. We’re ready to serve!