A: This is probably the most common question that I get asked by new owners. The answer to this is that it depends. Generally speaking it takes Sleep Sound around 4 weeks to get a property rented. We give owners two independent rent analyses and then let them set rent using our advice.
It is important to remember, however, that Sleep Sound does not control the market. Single Family Housing has very incomplete data (especially in Oregon) and that means what we do is not an exact science. We reach out to you on a weekly basis to let you know what is going on with the property. If traffic has been very low this is likely a correlation to price, and we may ask you to consider dropping. We are generally conservative with the bottom end of our estimates and have a very high success rate in estimating actual rent.
A: Sleep Sound removes owners from the screening process, largely to protect them from their own knowledge gaps on laws and protocol. Many people want to have a say in who lives in their house, understandably so. But whether its a fear of having a group of college age tenants or the desire to have a family live in the home, owners can be putting themselves at risk of being subjective.
Sleep Sound sets its screening criteria as high as legally possible, and by doing this we prevent a lot of potential evictions or defaults before they even happen. If a person or group passes the criteria then they should be afforded the opportunity to rent from our portfolio and within our office we strongly believe that.
We have owners write a welcome letter introducing tenants to them and the neighborhood. We have found that this humanizes owners and helps build the mutual respect and is a good way for owners to talk with tenants.
A: As mentioned above, Sleep Sound will screen for everything that we legally can. This consists of
A: We use a software called Property Meld which allows tenants to be in direct contact with a Sleep Sound Technician when something breaks. The technician, depending on what the break is, will attempt to guide the tenant through a fix.
If this works then great! The tenant has been educated, the owners has saved expense, and the problem is solved. If the tenant was not able to solve the problem then Sleep Sound will send out a technician. Our technicians bill at a rate of $65/hr, which is highly competitive for Portland, and are more time efficient then the average technician as they know your property and its history.
If a project is of a larger scale, or something that may require a permit, then we will vend out to someone on our preferred vendor list. We do not upcharge on maintenance or maintenance coordination so owners benefit from the same bulk savings and time priority that Sleep Sound does.
If you have any additional questions about maintenance please reach out!
A: Pets are one of landlords largest fears, and rightfully so... They can cause a ton of damage if the pet is not properly trained or taken care of.
But within the Portland market, 70% of renters have pets.
This is a massive chunk of the renter supply to bar from moving into your property and you could end up getting less rent, and sitting on the market longer. Depending on whether or not the other properties on the market in your area are allowing pets, this could add up to a lot of missed income.
Tenants with pets will still be responsible for damage caused by their pet, and Sleep Sound has a good track record of recovering damage costs when they occur.
We are happy to advertise your property as no pets, but we are increasingly seeing Single-Family Homes that go this house sitting significantly longer. We believe owners should be aware of this before making that their decision.
A: Sleep Sound Property Management, Inc. manages residential and commercial properties
Residential properties are are defined as single family houses, townhomes, condominiums, and plexes with 4 units or less.
Commercial properties include apartment buildings, office, retail and mixed use.
A: We are very strong when it comes to documenting and monitoring property. Before a property comes on the market we make sure that we have documented the functionality, this makes referencing the condition at the end of a tenancy easier and more concrete.
We then take a large amount of photos of the interior and then have the tenant sign off on the condition.
Then we place a highly qualified tenant who statistically should cause less damage.
After this we schedule a walkthrough where we take pictures 2-month into tenancy. After this walkthrough we schedule a walkthrough every 6-months.
Upon move out we go through final accounting and try to recover any damage in excess of normal wear and tear.
A: Truth be told, if you hire us there is not a ton you will need to know. The most important right now if the Oregon Relocation Act which takes away the owner tool of “no-cause evictions” as well as puts limits on rent raising. The major implication is that once someone is in the home it can be much harder to get them out.
There are a good amount of exemptions and we do not have enough space to cover them all here. Please call the office to have a conversation about how this could affect your plans.
A: 99% of the time we will, as only 1% of our portfolio faces evictions each year. This question is subjective but to us a “good tenant” is someone who is safe, pay bills on time, maintains your property, and owns mistakes they make up to. We usually find these people but nothing is a guarantee, and I can’t promise you that you will not get someone who is good on paper but bad in the home.
However I can promise that if that does occur that we will have your back.