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Why Finding Your Own Tenant Can Cost You Thousands

Web Admin - Friday, August 16, 2013

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.  


Legislative Update Part 1 – Section 8 Changes

Web Admin - Monday, June 24, 2013

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


Should You Rent to Section 8 Residents

Web Admin - Saturday, March 02, 2013

Should You Rent to Section 8 Residents?



When it comes to deciding if you should rent to section 8 tenants the answer is, it depends.


Let’s look at the benefits. The benefit of renting to a section 8 resident is that you are getting a guaranteed income stream from the government.


Next you want to evaluate the cons of renting to section 8 resident. When renting to a section 8 resident you have to comply with an additional lease agreement, periodic inspections, additional paperwork when sending out notices and the rental amount is limited to a formula used by the housing authority.


For some, the additional leg work is worth the guaranteed income, for others it is not.


Another important factor to consider is the potential attitude of the resident. First it is important to realize that their isn’t any proven correlation between a section 8 resident and their attitude, however some people have concerns that someone who is receiving government assistance doesn’t have any skin in the game and therefore is less likely to care for the property. This could be true, but it could also be untrue. Most of the time participants in the program strive to be excellent residents so that they can stay in the program.


My advice is to ask local landlords about their experience with the program as experiences may vary from region to region.


If you have any additional question or if you would like to hear about our experience please feel free to contact at 503.919.0471.


Thank you!


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Sleep Sound Property Management, Inc.
4415 NE Sandy Blvd, Suite 201
Portland, OR 97213

Office: 503.919.0471
Leasing: 503.660.8483