Are you considering renting out your Portland property? Want to alleviate the stress of property management in Portland? New to Property management in Portland? If you answered yes to any of these questions, then you have come to the right place! Property Management in Portland can be challenging and tricky, but we are here to help.
Are property management companies required to have a real estate broker’s license?
Oregon is one of the few states that allow property management companies to hold a separate license specifically for property management. Additionally, real estate brokers can also engage in property management. It is imperative that before you hire a property manager that he or she is licensed with either a broker’s or a property management license. You can check for licensing at https://orea.elicense.irondata.com/Lookup/LicenseLookup.aspx
Oregon Property Manager Licensing Requirements
- Must be trustworthy
- Have good moral character
- Submit finger prints
- Complete a criminal background check
- Must be at least 18 years old
- Must have at least a high school diploma or equivalent
- Must complete 60 hours of property management education prior to licensure
- Must pass the property manager license exam
Should you hire a property manager?
Deciding whether or not to hire a property manager depends upon many factors and the answer can vary for each individual. It’s not the right answer for everyone, so here are a few items to consider to help you decide whether or not to hire a property manager.
- The location of your property in relationship to your primary residence. The further you live from your Portland property the harder it can be to manage.
- Think about how many units or properties you own. The more you own and rent the harder it can be to respond to tenant issues so hiring property management will probably save you time, money, and headaches.
- Consider your experience in property management. It is expensive to learn the ropes as you go along and you may also open yourself up to legal issues.
- Do you have time to manage your property? If you have a full time job or feel that the day to day obligations of managing your property in Portland is too much then you will want to hire a property manager.
- What kind of tolerance do you have for handling tenants? If complaints, evictions, and other issues, stress you out and negatively impact you it is a good idea to hire a property manager. They are skilled in landlord-tenant conflicts and can help you resolve issues.
You don’t have to hire a property manager only if you are new to renting, in fact, many experienced individuals hire property management companies. By hiring professionals for your Portland property you will get higher quality tenants that pay on time, rent for longer, respect the property, and cause less problems. You will also avoid costly and time consuming legal problems and it will give you more freedom and reduce your stress.