Portland is an excellent choice for property investors. The city boasts good population growth, low unemployment, and a good economic outlook.
When you secure a rental property in Portland, you can look forward to low vacancy rates and a high rental income.
Yet, buying an investment property in Portland isn't an easy ticket to passive income. It requires ongoing work and a little help from real estate investment experts to help grow your property portfolio.
Read on to explore how hiring a property manager protects your investment and ensures the growth of your rental business.
Property Managers Protect Investment Property Values
A property management company protects your asset with stringent tenant screening processes. This saves you from the loss of income and extra expenses associated with bad tenants.
A property management service provides ongoing maintenance coordination. This ensures your property remains in good condition and retains its value.
A well-maintained property appeals more to prospective tenants or buyers if you decide to sell it.
Maintenance coordination includes routine property maintenance for legal compliance and high tenant satisfaction.
Real Estate Managers Help You Save Money
If you don't maintain your unit in a satisfactory condition and carry out repairs promptly, your tenants can terminate their lease. That leaves you with a vacant unit and a loss of income.
Property inspections are key to ensuring your tenants comply with their lease agreement. They're a strong deterrent for those who might breach their lease terms by introducing pets or damaging your rental unit.
During these visits, your property manager takes time to check for maintenance issues. Things like leaks and electrical faults can easily cause more severe issues, like flooding or fire.
In this way, a property manager helps prevent costly repairs, replacements, and remediation.
Finally, property management services work closely with local contractors for repairs and maintenance. These established relationships mean you enjoy swift service and competitive prices for these services.
Property Management Services Help Reduce Vacancies
A well-maintained rental unit increases your tenants' convenience and satisfaction. This makes them more likely to renew their lease.
If they decide to move out, a property management service can help you find a new tenant quickly. These companies have access to many approved tenants.
They can also market your property most effectively. This includes compiling a compelling rental listing and promoting it on the best channels.
Make the Most of Your Portland Investment Properties
Hiring a property management service saves you time and money. At the same time, they preserve your property value and limit costly vacancies.
They give you access to reliable contractors and the best prices for property maintenance.
PMI Bridgetown is your top choice for Portland real estate management. We are a local company backed by a franchise with decades of real estate experience.
We pride ourselves on providing best-in-class service backed by the latest property management technologies. Our services include strategic advice, property marketing, property inspections, and maintenance coordination.
Discover the best way to maximize your Portland investment property portfolio today.
