How to Increase the ROI from Your Portland Oregon Rental Property
Are you planning on investing in a Portland Oregon Rental Property for the first time? If so, owning an investment property is much more than just collecting the rent, there are a variety of things that you should do to increase the Return on Investment (ROI) from your investment property.
In this article, we will share with you a few simple tips that you should consider implementing if you want to get the most ROI from your investment property possible.
Tip #1 – Always Look at More Than Just What You Can Rent A Property For
Although the amount of money you can rent a PDX rental property for is important, the reality is that there is more data that you should be considering if you truly want to get the most ROI from your rental property possible.
You should be looking at other criteria like the location of the Portland property, amenities, things to do in the area, proximity to public transportation the shape of the jobs market.
All of these factors are important because, rent is important but if the property is located in a rundown or economically depressed area, you could face an “uphill battle” renting it.
Tip #2 – Get Multiple Quotes Before Settling on One Landlord Insurance Provider
Landlord insurance is important for every owner because it protects their best interests. Sadly, many owners make the mistake of paying more for landlord insurance than they have to.
Thankfully, with the internet, every owner can receive multiple landlord insurance quotes in minutes. This convenience allows owners to get the best landlord insurance quote and potentially save thousands per year in insurance costs.
Tip #3 – Look for Off-Market Investment Property Deals
Like many real estate investors, you may frequently scan websites like biggerpockets.com, Zillow, Trulia or Realtor.com for deals but are you also taking the time to contact area owners to see if they would consider selling their off-market properties?
Contacting owners about their off-market properties will save you the hassle of potentially facing multiple bidders for the same property that you’re interested in buying and you could ultimately be able to purchase an investment property for thousands less than what it’s worth.
Hiring a property manager is a great way to find off-market deals and also increase the ROI from your investment property because we will save you the time, money and hassle of managing your rental properties yourself.
Contact Rent Portland Homes – Professionals
To learn more tips, you can use to increase the ROI from your rental properties or to learn more about the property management services we can offer you, contact Rent Portland Homes – Professionals by calling us at (503) 447-7735 or click here to connect with us online.