While residents want to rent a nice looking home, they often have no interest, time, or knowledge on how to maintain the property. They may agree to landscape maintenance in the rental contract but it can be difficult for a property manager or owner to enforce. The owner can charge the tenant for maintenance or include landscape maintenance but it is not always practical to increase the rent with the full cost, particularly if the landscaping on the property is extensive.
We always recommend that do-it-yourself investment property owners consider hiring a professional property management company. One of the biggest disadvantages for people who manage their own properties is risk management. A property management company is like a legal layer of protection. We act as your agent and we continually educate ourselves on the current law. We take care of service notices and handling paperwork so it’s all done correctly and legally. That’s a good layer of protection to have. Read More
One of the great reasons to hire a property manager is to ensure your investment property is being properly cared for. Today, we’re going to explain how your property manager will protect your rental home for you. Read More
Today we are talking about what investors can do to make sure they are getting the best return on their investment property. One of the easiest things that can be done is to take care of simple updates. When you make a few minor changes to your property, you’ll find you can really increase the monthly rent by hundreds of dollars. Those updates will also attract a better tenant, which means you’ll have a great renter in your property for longer and your vacancy time will be decreased. Read More
Pets are a big part of our lives, and we are based in Portland, Oregon which is a very pet-friendly town. Lots of folks have pets and want to live in a rental property with their pets. We recommend having a pet policy in place. At Fox, we will consider accepting one dog or one cat. We do put restrictions on the animals. For example, we have breed restrictions. We will not take Pit Bulls, Dobermans or any other breeds that are considered vicious. We can set weight limits when necessary and we always require additional security deposits when tenants move in with pets. Depending on the property and the location, that pet deposit could be between $250 and $500. The other nice thing about accepting pets is that they can pay their own rent. So, you get the opportunity to make a little more investment money with your rental. Most pets include an additional pet rent of between $10 and $25 per month. Read More
We like to talk about tenant screening because that’s where a property manager’s work really begins. We do the best we can to screen tenants up front and place people in homes once they have demonstrated they have done a good job as tenants in the past and they have the income and credit required to pay their rent and their bills on time. It’s important to have a set screening criteria in place for everyone. At Fox, I like to say we have a place for everyone. If you are a first time renter moving out of mom’s for the first time, a single family home might not be for you, but we can find an apartment or a duplex that suits your needs. Read More