Storage

Storage: Many property owners want to leave items behind at their rentals, in sheds, attics and garages. Northwoods recommends the house be completely empty. For one you don't want the tenants to take on the liability of storing your belongings and second you should rent them the ENTIRE house. If you have extra items you don't want to bring to your new home get a storage unit. Now you wont have to post a notice to have access to your items and your tenants will have space to store their Christmas decorations.   www.northwoodspm.com

Pets

We are asked almost every time we bring on a new property, "Should we allow pets?” The answer really differs from property to property and from owner to owner.

Statistic show that 50-60 percent of potential renters have pets. So, statistically, over half of your potential customers have a pet of some kind. While allowing pets does bring with it an inherent risk, there are benefits as well. Let’s look at both.

Risk: While you could break it down and find several 'risks" that come with pets the main concern for most property owners is damage. Even the most well behaved pet can cause damage to a property. "Accidents" happen and an animal that is not well behaved can chew or scratch their way to $1000s in damage.

What to do: When selecting your tenant you should be just as critical with their pets. If your potential tenant has an animal, screen them as well. Meet the pet at their current home. While you are there check for damage; take a quick look at door jams, carpet, and the yard. How that pet is in their current home is most likely how they will be in yours. This is also a great way to get a sneak peak as to how your tenant keeps their home.

If you decide to allow a pet, CHARGE A DEPOSIT!! Pet deposits range from almost nothing to $1000, depending on the home and potential damage/risk. You may also choose to charge a "pet rent." This is simply a monthly amount the tenant pays for having the pet, usually around $50 per month. Choose a deposit/rent that makes you, the home owner, comfortable. Most tenants will have no problem paying, especially if their pets are well behaved.

Something that may make your future decision easier is making your rental more "pet friendly". One way to do this is to install laminate floors instead of carpet next time it’s time to replace the carpets. Laminate floors come in many designs (the majority look like wood floors) that tenants really enjoy and are easier to clean than carpets. With carpets one pet accident or red wine spill can cost lots of money. Laminate floors allow you to just clean up the mess and move on.

Benefits: Many times the benefits are not considered for allowing pets but this could be a mistake. From experience we have found that responsible pet owners make for great tenants. They tend to pay on time and keep their home in good order. Also a tenant with pets will often stay longer as not everyone allows pets and it’s harder for them to find another home that will work for their family. Lastly, you may be able to get more rent either from a pet rent or just advertising for a little more and putting in your ad “pets allowed.”

No matter what you decide, you as the property owner have to be comfortable and understand the potential out come.

Finding a new tenant.

One of the toughest parts of owning rental property is finding a good tenant, and one of the biggest mistakes owners make is giving the keys to their investment to the first person with rent and a deposit.
First you need to consider what you are looking for in a tenant. Short term? Long term? ETC. Decide if you want a month to month term or a lease. Are you going to allow pets? Will you require a deposit? ( the answers to this is YES ) So, how much should the deposit be? I usually recommend close to one full months rent to start. After that pets, etc. are extra deposits.
When you find your "perfect tenant," have them sign a rental agreement and hold them to it. If you waiver from it and you end up in court, it could bite you in the @$$. Check up on them!! Give them a few days to get settled and drop by to " see how they have settled in." If you plan on entering the property you will need to give a 24 hour notice. After the first visit check in every 6 months. I see owners spend thousands on repairs that could have been prevented if the owner was involved. Remember tenants tend not to tell you about "little" problems.
What happens when you need to get your property back? Eviction can be time consuming and complicated. If you are not familiar with your state's evictions laws, consult someone who is. Make sure you follow the rules and don't lose your temper. Threats and yelling will only make things worse. Post your notices, and follow through with what you say you are going to do. Don't get caught up in a situation where you are evicting the same tenant every month.
If you are looking to a quality property manager try www.allpropertymanagement.com or if you are in Eugene or Medford, Oregon try Northwoods Property Management.
www.northwoodspm.com

About Us

Northwoods Property Management offers a level of service rarely seen in the industry. Taking full advantage of technology to ensure that we are able to serve our clients needs 24/7. Whether you have a rental property and need our management services or you are a tenant looking for a new home we are here to serve you. Northwoods strives to create long term sustainable value for property owners and tenants’ alike, building relationships for mutual benefits.