Even if you haven’t considered renting out your property in the past, there are a few good reasons to consider it now. Maybe you are currently having trouble selling your home, or you need to relocate out of the Portland area, or you want to pass the property onto your heirs. In these situations, converting your home to a rental is something to consider.
Strong Market for Portland Rentals
Right now, in July of 2016, the Portland area has seen an influx of new residents. There is also a decrease in the available inventory. So, supply and demand has pushed rental prices to an all-time high. With this demand, the vacancy period between tenants has decreased, which helps maximize your income.
Appreciating Investment Value
With real estate, the longer you hold onto the property, the more it appreciates. Our experience in Portland property management has shown us that real estate goes in cycles or waves. But we know that real estate has always been a sound investment if you can ride out those waves.
Property Management Portland Can Help
Hiring a professional property management company can help. Experienced managers and real estate professionals will assist you in navigating through those waves, and you’ll end up earning more money. It’s like having a built-in savings account. Your property’s value will go up over the long term, and your tenants will contribute to your mortgage payments while you’re renting it out. Maybe this experience will inspire you to keep expanding your real estate portfolio. A property management company can make sure your rents are at market rates and find and maintain responsible tenants who take care of your investment.
Take advantage of the strong Portland rental market, especially if you are trying to decide whether selling or renting is a better idea. If you have any questions about Portland rentals or the Portland full service property management we can provide, please don’t hesitate to contact us at The Alpine Group.