If you own a Rental Unit in Portland, you need to understand the “mindset” of today’s Portland Oregon Renter because the process of owning and managing a portfolio of income producing rental units has changed over the last 10 years.
Here are 5 characteristics of today’s renter in Portland and other big cities across the United States.
They Are Willing To Rent For the Long Term
Today’s Portland Oregon Renter is renting by choice and doesn’t necessarily expect to own a home within 5 years. They are content to rent for the long term, especially if they find a great rental unit that they love.
They are Making the Choice to Rent
Since the Real Estate Crash of 2007, many renters in Portland are making the choice to rent instead of buy. They saw their parents, friends and associates lose equity in their homes and suffer financial damages and they want to avoid the same fate.
They Love the Upgrades
Many studies have shown that renters are more content to stay in homes or buildings where their landlords have made recent upgrades to the unit.
They Live and Work At Home
One big trend we’ve seen in recent years is more renters who are working from home. They are content to stay in the same rental unit especially if it has space for an office.
They Look for and Expect Walkability
Many renters in their 20’s and 30’s are staying in rental units which are close to the best restaurants, shops, stores and schools Portland has to offer.
