Prevent it or be left to Identify and Treat it

MOLD AND MILDEW…its Oregon, live with it……………

NOT if you are a landlord or property manager.   Mold and mildew present potential serious problems if not detected and addressed EARLY.

Because of the potential seriousness that mold and mildew pose we use a form, in our initial lease documents, that addresses the tenant’s responsibility to notify the landlord/Property Manager of any and all moisture problems in the rental unit.

Mold and mildew thrive in cool moist environments and can be toxic to some people.  If a potential problem of moisture is addressed early it can usually be corrected before there are any serious and/or costly consequences.

Common problem areas are leaking sinks, bathroom plumbing, bath fans that do not adequately remove the warm moist air after a shower,  defective gutters and roofs and areas where there is little or no air circulation.

If you think there is a potential mold/mildew problem ADDRESS IT …don’t hope it will go away.

Thanks, JCON Properties, Your Pacific Northwest property management company.

The following factors should be considered by those who are “On The Fence” about purchasing, selling or converting a primary residence into an Investment property

1. 1.    Interest rates are forecasted to remain low to continue to stabilize the housing market.  1,3-Source
2. 2.    Increase in Inventory as more Foreclosures become available for sale from banks and FNMA/FHLMC. 1, 4-Source
3. 3.    Changes are predicted for Government programs such as the FNMA and FHLMC pilot program to convert government owned foreclosures into rentals.  The program is to allow these entities to sell the homes in Bulk to investors to get them off the Government books and put the properties back into productive use. This will also expand the supply of rentals and stabilize neighborhoods and housing values. 2-Source
4. 4.    Market Rents increasing in most areas and some with 2.4% gain from 1 year ago November. 1-Source

1.National Association of Realtors Research including data from Chief  Economist, Lawrence Yun

2.CNNMoney.com, 3. Housing Predictor, 4. Zillow

 Remember along with these factors the most important factor is each individuals own Financial Goals.

These points may make a decision easier or more difficult but either way we advise that a local Property Management Team or other  Real Estate Professional be consulted in your local area.

JCON Properties, Portland Property Management.   Rent our homes.  Beaverton property management companies.  Oregon city property management companies.   Cameron Condray, Jerry Condray, Christina George.

Location, Location, Location. Yes  we have all heard  this sane many of times even-though  not everyone chooses to follow it.  The location of your Portland rental property will influence the desirability of your property whether it is commercial or residential.  The more desirable your Portland property is the more rent you can reap.  You will also want to figure out your target market for the area you are choosing to purchase your Portland rental property.  If your Portland investment property is commercial, is the location better for a pass by business or a destination location?

Know your business.  Make sure you understand the process and legal obligations involved in renting out your property.  You will need to draw up a tenancy agreement that is a legal and binding contract between you and your tenant.  You will also need to know how security deposits are handled, for Portland rental properties, and understand your tax obligations.

Insurance.  Landlord insurance is considered a must have for most buy to rent owners.  If your investment property is being rented to paying tenants, then it is likely that your standard Portland property insurance will not be sufficient.

Maintenance.  As a rental property landlord you will need to have regular maintenance checks at the property to see that it meets all health and safety checks.  If one fails to maintain their Investment property you will be at risk of negligence claims.  A property that is not properly maintained will affect the amount of rent you can earn for your Portland rental property.

Finding Tenants.  You will need to promote your property effectively so that it does not sit vacant.  Your best bet would be to employ your local Portland Property management company  to address all of the above issues for you.

Jerry Condray, Cameron Condray, Christina George, JCON Properties, JCON Property Management News. Portland Property Management Companies. Rentlist.com Metro Multi-family Housing, Boats.  Portland Rental Properties.

Outside Faucets.  Un-hook all hoses from outside faucets and make sure that all outside faucets have thermal covers over them.  Any external faucets that have a shut off inside the house should be turned off, such as outside faucets that exit off the garage.  Your tenants of your Portland rental property may want to use the outside faucet to wash their car or other things.  Tenants just need to be informed the the external faucet needs to be shut down properly after done using.

Sprinkler Systems.  Auto yard sprinkler systems need to be shut down and made sure they are drained properly.  Start with shutting down the electric actuator box then turning off the water supply to the sprinklers and opening the drain valve.  If the system is set up properly,(with the drain at the lowest point), all water will drain out of the pipes by just opening the valve and opening the air bleeder.  If you do not feel comfortable with doing this task it is best to leave it to a professional or have your Portland property management company manage this process for you.

Foundation Vents.  Install covers in your investment properties foundation vents.  This will help with the heating and insulation of the home during the cold winter months.

Gutters.  Your gutters many need to be cleaned depending on how many trees are around your investment property.  For some this may need to be done a couple times during the fall and winter months.

These are just a few tips for preparing your Portland rental property for the winter months.  Every home has its own specifics that need to be addressed independently.   These are things that could be taken care of by your property management company so that you do not need to deal with them if you wish.

JCON PROPERTIES your Portland property management company.

tags. Jerry Condray, Christina George, Cameron Condray.

Siding and windows.  Keeping track of the caulking and areas where moisture can collect on the siding and around the windows is an important factor.  These are areas that if not properly kept up with they can lead to dry rot and a major expense to fix.  One should have a professional inspect the siding for troubled spots and around the windows annually, late summer is a good time for this that way any troubled spots should be dry when repairing.

Roofing.  It is important thay you always know exactly how old your portland rental property roof is so that you can forcast inspections and, ultimately, replacement.  A roof lifetime can be extended to the longer end of its life expectancy by keeeping gutters clean and checking for leaks, exposed areas, treating for moss, and fixing loose shingles.

Heating.  Having your furnace inspected by a professional once a year and changing your air filter (monthly during seasons of full use) will prolong the life of your investment property furnace.  Filters may be something as a property owner you want to supply your tenant with so that they can change them as needed.  Tenants should be informed that frequent filter changes will save them money in the short term by increasing energy efficiency and, thus, lowering heating bills.  The long term benefit for the owner will be the longer life of the heating unit.

Appliances.  When it comes to appliances, unfortunately you cannot control how tenants treat them on a day-to-day basia.  However, when your Portland rental property is in transition mode from old tenant leaving to new tenant checking in be sure you perform a thorough inspection of refrigerators, stoves, dishwashers, and washer and dryers if equipped.  This would be something your Portland propery management company would cover also.

JCON Properties your Portland property management experts.

key tags. Jerry Condray, Christina George, Cameron Condray.

Property inspections should be priority when trying to preserve your Portland rental property.

How closely do you monitor your stock portfolio or how often do you review your retirement account?  Why not do the same for your Investment property?

Surprisingly enough, routine property inspections are not a common practice even though making this small, periodic investment can positively impact the long-term condition and value of your portland, beaverton, tualatin rental property.  Regularly recurring inspections can mitigate some of the financial risk by the early identification of damages. Property inspections provide information about each property’s overall interior and exterior condition, noting such things as the presence of any potential hazards and or current damages.

JCON Properties does a 90 day inspection for all of their managed properties.  JCON property management feel that 90 days gives a tenant sufficient time to settle into their living habits, allowing JCON property management to see how the tenant is taking care of the unit.  If the portland rental property is showing damage beyond normal wear and tear, this can be addressed and further damage can be prevented.  Other than the 90 day property inspection JCON Property management recommend at least two additional inspections per year.    Contact JCON Properties today for your portland real-estate management needs.

Thank you, JCON Properties

Make your tenants aware.

Tenants need to understand that in case of a destructive event at your property, existing home owners insurance will only protect the home and not tenants personal property.

Your benefit

Some property managers build a clause into their lease stating that renters are obligated to purchase renters’ insurance for the duration of their occupancy.  As a benefit, the tenant has liability protection for causing damage to owners property unintentionally.  Also it will give them protection if someone is personally injured at the resident.

Tenants’ Responsibility    

If you choose not to include renters’ insurance as a lease requirement, you should still make a point of informing renters that they are responsible for insuring their own personal belongings, both verbally upon lease signing and in the actual lease text.

Renters insurance is not something, we at JCON Properties, let a tenant occupy one of our units without.   It is a cheap monthly expense that a tenant will have to pay but will be priceless if they need to use it.  Renters insurance cost are usually around $7.00-$12.00 monthly.

JCON Properties , portland property management, Hillsboro property management, Tualatin property management. Jerry Condray, Cameron Condray, Christina George.

Portland Oregon houses for rent:  Rent our homes.net Portland, Oregon property management: JCONProperties.com

The following are some examples to help you better understand the difference between normal wear and tear vs. damage.

Holes left in the wall from a former tenant’s pictures, shelves, and other wall hangings will most likely qualify as normal wear and tear.  Holes all over the unit and large holes fall under damage.  These would give you reason to dip in to tenants security deposit for repair.

Paint policies are often subject to specific lease terms however, even if your tenant as left a nice new paint job behind, it still classifies as damage if the color is significantly different from the original color of the unit and was not pre-approved. 

Outside landscape can also have its normal wear and tear vs. damage issues also.  This cab be harder to distinguish sometimes but should not be overlooked.  For example a 15 year old fence that is rotted and falls over when your tenants dog  jumps on it, would not be a cost that the tenants security deposit would cover.  However, outside siding that is ripped off due to a tennt mounting something to it and causing the siding to be damaged, repair cost would come from your tenants deposit.

Disputes over wear and tear vs. damage can be avoided.  Document, document, document.  Having a move in and move out checklist allows both parties tenant and landlord, to understand what is expected of them.  Move in and out checklists put tenants on notice that the owner or landlord is serious about keeping their property in good condition and will not hesitate to use the security deposit to put the property back into its pre-rented condition.

email. jconproperties@gmail.com

Web. jconproperties.com

JCON Properties, LLC your Porltand property management company.

As of July 1, 2010 For all New Tenancies.   If a rental dwelling unit that is subject to ORS chapter 90 has a carbon monoxide source or is located within a structure having a carbon monoxide source, the landlord shall ensure that the dwelling unit has one or more carbon monoxide alarms installed in compliance with State Fire Marshal rules and the state building code. The landlord shall provide the tenant of the dwelling unit with a written notice containing instructions for testing of the alarms. The landlord shall provide the written notice to the tenant no later than at the time that the tenant first takes possession of the premises As of April 1, 2011 For all Active Tenancies. 

If a rental dwelling unit that is subject to ORS chapter 90 has a carbon monoxide source or is located within a structure having a carbon monoxide source, the landlord shall ensure that the dwelling unit has one or more carbon monoxide alarms installed in compliance with State Fire Marshal rules and the state building code.

 AND

If the landlord receives written notice from the tenant of a deficiency in a carbon monoxide alarm, other than dead batteries, the landlord shall repair or replace the alarm. Supplying and maintaining a carbon monoxide alarm required under this section is a habitable condition requirement under ORS 90.320

 Thanks JCON Properties, LLC your Portland Property management company.  Beaverton, Hillsboro.

web.  www.jconproperties.com

Give incentives to stay. A small incentive to keep your current tenant could be a smart move on your part.  Sometimes just leaving the rent at the current price is enough to get your tenant to sign another lease.  If you have a tenant that is paying a price that the market will not currently bare, if you were to try and re-rent, you may need to adjust the price to get the tenant to stay and sign another lease.  However, don’t avoid rental increases if it is possible.  Be able to explain the rental increase to your tenant by first doing your homework, such as verifying and noting that the current rent values have increased in the area that your tenant is leasing. 

 Invest in the property.Small improvement will go a long way toward keeping your tenant happy.  Whether it is repairing or replacing a broken light or repainting a few walls.  Tenants today have dealt with a lot of bad landlords.  Many tenants are weary of an independent  landlord,  due to the fact of them not taking care of their rental unit problems when they arise.      

Get some feedback.It is a simple concept the best way to understand what your tenants are thinking is to communicate with them.  Ask them how you are as a landlord and what you could improve on.  Have them give you some ideas and suggestions.  Be sure to acknowledge their feedback and let them know how you plan to take care of their ideas and suggestions.  You do not have to do everything your tenant suggests but if you do decide to commit to one, make sure you follow through.

 These may be things you don’t want to deal with as a landlord, but they are inevitable.  JCON Properties deals with these issues on a daily basis and if we can assist you in any way please contact us.  

 Email: jconproperties@gmail.com   

Web: www.jconproperties.com

 Thank you, JCON Properties, LLC  Your Portland Property management company.

Tags. Jerry Condray, Cameron Condray, Christina George. Rent our homes