You’re in your 20s and you’ve worked hard to buy your first rental unit in Portland. Did you know that you can easily lose that rental – and all of your other wealth - in minutes due to fire?
A recent study by ORC International found that most Americans are aware of the shelf life of their favorite snack foods but don’t remember the last time they changed the batteries in their smoke alarms.
Fires Are Burning Faster
Thanks to the increase in petroleum-based materials used in the construction of homes, furniture and other goods, more fires are now reaching “flashover” faster than ever before.
As of 2014, an average home in the United States becomes engulfed in fire about eight times faster than homes did just 50 years ago.
What does this mean for you?
Depending on how you have written your lease, if you don’t replace the batteries in your smoke alarms, your tenants may not be able to get out of your rental unit in time. You risk the loss of your rental property and the liability of a fire-related death in your property.
There Are Options for You
At Grid Property Management we take care of all the day to day duties that come with managing a property. We will ensure that the smoke alarm battery issue is fully addressed via both a well-written lease spelling out tenant responsibilities and ongoing inspections to ensure compliance with the lease.
With Grid managing your rental property you can focus on growing your portfolio. That’s how you reach your goal of having substantial passive income from your properties.