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Portland is a wonderful city, boasting craft beers, quirky neighborhoods, and near-perfect summer weather (and hey, the winters grow on you). It doesn’t hurt that it’s surrounded by gorgeous natural features an easy day-trip in any direction, from Mount Hood to the striking Oregon coastline. With so much to offer, it’s little wonder that so many people want to live here. If you’re lucky enough to own a home in the area already, breaking into the rental market with the help of a Portland rental agency could be an excellent opportunity.
Of course, Portland’s popularity makes the rental market fairly competitive. Making sure your listing stands out can be a big job. Working with a Portland rental agency can be a great way to get ahead. At Rent Portland Homes by Darla Andrew, our long-standing experience with rental properties in Portland means we know what works and what doesn’t.
In our latest YouTube video, we touch on a few useful tips for homeowners interested in getting their property ready to rent. Check out the video below, and be sure to subscribe to our channel for more informational videos.
Here’s a breakdown of what you need to know before diving into the Portland rental market. Plus, a few tips for what you can do to get a leg up on the competition.
Rent Your Property: The Prep-work
The first thing to do when renting your property is to make sure that you’ve completed any necessary maintenance and repairs. Do a thorough inspection of your property with an eye for leaking pipes, loose cabinets, or any potential safety hazards. It’s especially important to make sure that you’ve done everything you can to make the property safe. If a person suffers an injury on your property and the courts find you negligent, you could face serious penalties.
A Portland rental agency like us will take care of all repairs, before a property is first rented out and in between tenants. We work with a team of hardworking professionals to ensure your property is in top shape before a tenant moves in. If you’re planning to do the work yourself, it’s important to make sure your rental is in perfect condition before moving forward with the process.
Portland’s Rental Market: Do Your Research
Before you put together your listing, it’s essential to get the lay of the land. Unless you’re familiar with the local rental market, there may be a steep learning curve. Common pitfalls that new landlords face are overpricing or under-pricing their units. In the first scenario, you’re less likely to find a tenant in a timely manner. In the second, you’re missing out on profits. Make sure to get a sense of the price point similar properties are renting for. Consider the age of your building, the proximity to amenities, and the unit’s visual appeal. Not just the square footage and number of bedrooms.
When working with a Portland rental agency, you benefit from their experience. With our years spent learning the ins and outs of renting properties in Portland, we have an intuitive grasp of what prices will get your rental filled with as much profit in your pocket as possible. Our use of Appfolio’s services means we can post your listing across numerous popular renting websites such as Zillow, HotPads, and Trulia. Though it means more work for an individual owner, posting your listing across as many places as possible is a great way to generate more interest.
Preparing Your Property Listing
Once you’ve spruced up your property and done your homework, it’s time to tweak the cosmetics. Consider a fresh coat of paint and a carpet deep clean; remember, the little defects that you could live with might put prospective tenants off. An experienced Portland rental agency can offer suggestions about which improvements will be most cost-effective to make. The photos you take of your future rental should be enough to make anyone want to move in immediately. After all, in today’s market, they’re likely to have multiple attractive options.
Taking quality photos makes a huge difference in the attention your listing will receive. It’s critical to make sure your photos are up to date, so that prospective tenants know they’re seeing what they’ll actually get. An inexperienced Portland rental agency might ignore this step. However, at Rent Portland Homes by Darla Andrew, we take a comprehensive series of photos and videos to show off all your property’s best attributes.
If you’re listing your own property, making the listing as detailed as possible helps people who aren’t comfortable touring the unit in-person. Our live YouTube walkthroughs have been one of our most popular features during the COVID-19 crisis. As an added bonus, a video walkthrough allows people to see your property even if they’re planning on moving from out of state. Making your property accessible to as wide an audience as possible is a great way to attract more prospective tenants.
Schedule Your Showings
With COVID-19 a constant concern, property owners must be cautious when scheduling showings. Aim to fit in as many viewings as possible while maintaining enough time between different groups to allow for social distancing. We recommend staggering each visit by 15 minutes.
Before the showings begin, there are a few things you can do to make your rental look more charming. Turn on all the lights to bring the rooms to life and prevent visitors from having to touch the light switches, reducing the spread of germs. Open a window or two to let a fresh breeze through the apartment, and make sure all the doors are open. These days, it’s best practice to allow visitors to show themselves through the property. However, it’s a good idea to make sure you’re available by phone the entire time you have people viewing your property. If a prospective tenant has questions, your answers could solidify their interest!
Throughout this process, do your best to stay relaxed. The journey to renting out your property may be stressful, but it’s also incredibly exciting. We at Rent Portland Homes by Darla Andrew are passionate about the rental business, and we wish you luck in your own adventures!
We’re a Portland Rental Agency You Can Trust
If the task of converting your property to a flourishing rental seems daunting, have you considered working with a Portland rental agency? At Rent Portland Homes by Darla Andrew, our fantastic team takes care of fixing up your rental, finding your dream tenants, and managing the business of being a landlord without you raising a finger.
We’ll keep you up to date with frequent updates on your property through our online monthly owner accounting statements. You can stay informed and in control, with much less work. If that sounds like a good fit, or if you have more questions about renting your property, we’d love to hear from you. Drop us a line via the contact page on our website, or call or text us anytime at (503) 515-3170. We hope to hear from you soon!
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