According to Yahoo, rental market analysts named Portland one of the most popular cities for renters in 2024. The analysts said searches for rentals in the beautiful Oregon city jumped by 24% in the past year. They further estimate monthly rents in the city to reach $1,728.
So, if you own rental properties in Portland and they're not performing as projected, it's a clear sign something's wrong. You need landlord rescue.
Luckily, PMI Bridgetown is at your service. If you experience any of the problems discussed in this guide, our Portland property management services can help.
Not Enough Time
Perhaps something big happened in your life, such as having a new baby or inheriting a rental property that turned you into an accidental landlord. Regardless of the reason, you've realized you don't have enough time to meet the 24/7 demands of being a landlord. In that case, it's time to enlist landlord services in Portland, OR.
With a property manager taking over the reins for you, you won't have to give up your rental property and miss out on the potential high income you can make. Remember: Portland is likely to become a hot rental market; if you let go of your property now, you won't be able to reap the benefits of being a long-term landlord here.
Rent Collection Woes
Most evictions result from non-payment of rent; the same is true in Portland's Multnomah County. Indeed, according to TV station KGW8, it's the county with the highest rate of eviction cases in Oregon.
If you frequently experience rent collection-related problems, take it as a sign to hire a property manager. One of the benefits of property management done by the pros is efficient and timely rent collection, which managers even back with guarantees. For example, they won't charge you management fees until they've placed a tenant and collected rent on your behalf.
High Vacancy Rates
One of the most crucial property management tips Portland landlords should abide by is doing everything possible to retain the best tenants. After all, the strategies for keeping renters happy and willing to renew their lease (e.g., tenant incentive programs) are more cost-effective than replacing them. The more often your tenants leave, the more you'll spend toward re-marketing your property, and the more income you'll lose due to high vacancy rates.
A property manager can help you avoid those issues by identifying and addressing issues that make tenants leave. For example, if the problem is a lack of tenant-landlord communication, your manager will fix it by being your representative who's always reachable. If it's due to poor property maintenance, your manager will solve it through regular inspections, upkeep, and repair.
Exceptional Landlord Rescue Services From PMI Bridgetown
Whether you're an accidental landlord, having problems with rent collection, or always seeing tenants leave, PMI Bridgetown's landlord rescue services can help.
PMI Bridgetown is a full-service property management company serving landlords and tenants throughout Portland, OR. Our team consists of highly qualified individuals; Todd Schectman, our owner, has over 15 years of experience as a landlord and investor. Crystal Mendiola, our operations manager, also has over a decade of experience as a property manager in Portland.
So, call us today for a free property consultation! We'll use our many years of experience to help maximize your rental profits.
