Property Management Blog

How to Stay Focused During a Busy Portland Rental Market

System - Wednesday, December 10, 2014

There’s no denying that it can be easy for anyone who owns aPortland Oregon Rental to get “bogged down” with the day to day responsibilities of owning a rental home or property.

If you’ve been feeling the pressure of managing your rentals, here are three tips you can use to manage a more efficient portfolio of rental homes, plexes, or small apartment properties.

Tip 1 – Step Away From Your Portland Oregon Rental

Although you’re focused on filling that vacancy and making sure your property stays profitable, you should take the time to step away from your property and get to know the neighborhood surrounding your rental.

Learn more about local businesses nearby, restaurants, and options for entertainment in the area since these can all be resources which will interest a prospective renter.

Tip 2 – Research Competing Properties in the Area

Take some time to find out how much other rental units or properties are renting for in the area surrounding your property.  You should also investigate what your competitors are offering to people who are interested in renting one of their units.

This research could give you ideas on things you can do to make your rental more appealing and desirable to a prospective renter.

Tip 3 – Start Thinking About Offering Incentives to Renters

Last of all, but most important, if you have some rentals which have been available for a period of time why not offer incentives to people who are interested in renting those units?  You don’t want to go overboard when offering incentives, but offering simple things like a free gym membership for 90 days at a local health club, vouchers for free meals at local restaurants, free movie tickets or $500 off the first month’s rent can go a long way to attract an ideal long-term tenant.

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