Portland Oregon Property Management Tips – Problems To Avoid When Investing In Rental Properties
Are you planning on buying rental property in the Portland Oregon area? As the top Portland Oregon property management company, we can tell you that there are a wide variety of problems that you want to avoid when purchasing a new rental property.
In this article, we’ll break down several of those problems, and provide you with tips that you should consider before you make your rental property investment.
Avoid Problematic Neighborhoods
The first thing that you should look for when purchasing a rental property is a bad neighborhood.
This is an important tip to follow because, you may be able to purchase a rental for a great price, but the reality is that if the neighborhood is unstable, you’re always going to have a difficult time renting that property.
As a property management company in Portland, we can tell you that one of the most effective ways to buy a rental property in the PDX area, or elsewhere across the United States, is to do some research online about the area where the rental property is located before purchasing it.
This will help you to see what actual residents of the area have to stay about it and it’s going to save you the time, money, and hassle of investing somewhere that will be a potentially unstable and unprofitable area for you.
Don’t Invest In Properties That Have Foundation Issues
Yes, you must avoid investing in a rental property that’s potentially in a bad location but, as a leading Portland Oregon property management company, our next piece of advice is that you should also avoid investing in rental properties that have foundation issues as well.
Let’s face it, foundation issues suck because, you may have to spend $20,000, or more, to repair the foundation of rental property so it’s best to avoid those types of properties at all costs, especially if you don’t want to end up in the hole financially after purchasing a rental property.
Avoid Rental Properties With Shared Driveways
Another big problem that we’ve identified during our years of experience as a Portland Oregon property management company is investing in rental properties that have shared driveways.
Homes that have shared driveways should be avoided at all costs because with a shared driveway you’re going to have control over your side of the driveway, but you can’t tell your neighbor what they can or cannot do with their side of the driveway.
When investing in rental properties, you should always choose a property that does not have a shared driveway because this will make your life easier and eliminate the hassle of you having to take calls from disgruntled tenants who are complaining about what their next-door neighbor may be doing with their half of the driveway.
Don’t Make The Mistake Of Managing Your Rental Property Yourself
Last, of all, the most important tip that we have for you as a long-time Portland Oregon property management company is that you should avoid the mistake of trying to manage your rental property yourself.
This is a huge tip because many investors make the mistake every year of attempting to manage their rental properties on their own and they end up burned out within six months to 1 year after they’ve been trying to go the solo owner route. Don’t let this happen to you!
Time is money, and your goal as an investor should be to focus on growing your portfolio of investment properties instead of taking your hard-earned time to manage them yourself.
Thankfully, when you hire a property management company in Portland, you can focus on growth while knowing that every aspect of the property man and is handled for you.
At Rent Portland Homes – Professionals, we specialize in full-service Property Management including the following:
Property Marketing – Our company will take high-resolution photographs of your property then market your listing across the internet so that it’s going to be easily found by people in the PDX area for searching for rental properties.
Tenant Selection – After marketing your rental listing online, you can count on us to select the most qualified tenant to live in your Portland Oregon rental property.
Rent Collection – When it comes time to collect the rent, you can count on us to deposit that money into your account without you having to focus on doing any rent collection efforts yourself.
Maintenance – Unlike Some property management companies in Portland who only claim to have a maintenance team, our company has a full-service Property Maintenance team that’s available to handle maintenance needs when they arise.
Customer Services – If by chance your tenant has a question or issue with their rental property, you can count on them calling us with all of their customer service needs instead of calling you at night, on weekends, or holidays with their issues.
Online Portal – Another benefit that we can offer you as a top Portland Oregon property management company is our online portal. This portal makes it possible for you, and hundreds of other owners across the Portland area to stay on top of what’s happening with their rental properties, even if they live elsewhere in the United States, or the world.
We’re On Top Of The Changing Laws – Over the last year, we’ve seen the laws change and owners across Portland have more legal challenges and responsibilities than ever before. Thankfully when you hire the Rent Portland Homes – Professionals property management team, you can have confidence that we’re going to stay on top of the changing laws in the Portland Oregon rental market so you don’t have to.
Learn More About Our Portland Oregon Property Management Services
For more information about our Portland Oregon Property Management Services, contact us today by calling (503) 447-7735 or click here to connect with us online.