Property Management Video Blog

On February 2, 2017 the city council met to discuss Chloe Eudaly's proposed ordinance that would require landlords to pay a relocation fee to tenants if they asked the resident to move or if the rent was increased 10% or more and the resident decided to move due to the increase.

The ordinance did not consider using a means test so that renters who were well off would be excluded, instead the entire burden was shifted to the landlord.

There are a lot of unintended consequences that will go along with the passage of this ordinance. Below are a few examples.

1. Small landlords who own plexes will sell.
2. Rents that may have risen less than 9.99% or not at all will now rise regularly to help owners pay for the added cost.
3. Communities will be trapped with problem tenants that the owner or there residents cannot prove are violating the lease or where the owner cannot afford the legal expense.
4. Some investors will buy outside of Portland.
5. Safety issues will increase as bad tenants will remain at the property longer if not indefinitely.

EXEMPT FROM THIS ORDINANCE

• Properties outside of Portland, Oregon.
• Small landlords who own 1 rental unit.
• Owners who rent their primary residence that plan to return in the next 3 years.

PENALTIES FOR FAILURE TO COMPLY

• Relocation fees plus 3X the rent.

If you would like to read the ordinance directly please visit the link below.

https://www.portlandoregon.gov/eudaly/article/625341

For a summary from Bittner & Hahs P.C. please see the link below

http://files.constantcontact.com/50731f45101/ca97583e-7781-41fe-8ad4-0e16f2aee998.pdf

Sleep Sound Property Management, Inc answers the question "Why are rents so high in Portland?"

A lot of long time residents, new arrivals and investors want to know why rents have grown so dramatically over the last 5-7 years. In this video we answer this question.

Some point the finger at what they see as greedy real estate developers and landlords without considering the economics or the reality of the situation.

Supply and demand drive prices. Currently the market is out of balance, but the market will correct itself.

The problem with supply is rooted in city policy around urban planning and the urban growth boundary. Both of these positions have artificially inflated housing prices in the area. While these policies are not necessarily a problem from a long term perspective, they are a major source of the current housing shortage.

In addition to this, the city of Portland has seen significant immigration to the area. Increased pressure on the low housing stock has resulted in major increases in rents.

If you are looking to buy, rent or have your property professionally managed we would love to hear from you. We are experts in the Portland rental market and manage both residential and multifamily (apartments).

In Portland, Oregon the City Council under pressure from Community Alliance of Tenants (CAT) and the current housing market has sought to provide relief to residents who are experiencing large increases or that are being given termination notices without stated cause.

The new law goes into effect on November 13, 2015. The law requires 90 days notice be given for terminations of tenancies (there is not exemption for sales where a buyer intends to occupy the property as a primary residents as allowed under state law) and for rent increases over 5% in a 12 month period.

The Oregonian and the City Council have referred to no cause notices of termination as evictions. While this may seem like a synonymous term, they are not. An eviction is legal process to forcibly remove a tenant who has not paid or failed to compile with the lease. It is nearly impossible to have a no cause eviction. No cause notices are used for a variety of reasons such as protecting other residents and community members from violators that are difficult to catch and as a way to remove a resident without damaging their rental history.

To further compound this problem rent control is prohibited under state law. In a disappointing and potentially unethical act the city council has disregarded the law for political expediency. At the state level resident advocates have expressed interest in rent control policies which is certainly something worth contacting your legislature about to express your opinion.

As the law is written now there are many flaws within it and the consequences are yet to be seen. For specifics on the legal make of this new law please consult legal council.

How We Handle Rental Repairs for the Properties We Manage.

I am often asked by landlords, should I provide a washer and dryer for my rental home? I address this frequently asked question in this 1 minute video.

Nicholas Cook attended his first meeting as a committee member of Multifamily NW’s Government Affairs committee. As a new member Mr. Cook hopes to use his expertise and experience to help shape some of the future policies around Oregon Landlord Tenant Law.

A lot of landlords still don’t know who pays for the trash/recycling in Portland (residential only).

In my latest video answer this question.

It's not uncommon to think, should I rent my property out myself? It seems pretty straight forward, you put a few ads, meet some prospects and hopefully find a tenant. But, before doing so, ask yourself, what could go wrong? The short answer is, a lot. The leasing process is where a lot of do-it-yourself landlords find themselves in trouble.  In one minute I explain how this happens and why when it comes being a landlord an ounce of prevention is definitely worth a pound of cure.  

A lot of new investors don't truly understand what a capitalization rate is and why it is important. If you are serious about investing in real estate this is an important metric for your tool box. Learn in less than a minute what a cap rate is and how to use it to your advantage.

A bill being worked on in the Oregon legislature known as HB 2639A would remove the choice landlords have when it comes to renting to section 8 tenants. As of now landlords have a choice. If you would like to learn more about this bill I have listed a link below.

http://www.leg.state.or.us/13reg/measpdf/hb2600.dir/hb2639.a.pdf