Rental Basics in Portland>Question Details

Mimi, Other/Just Looking in Portland, OR

Part 2 to my other question, any advice on renting a 3 bedroom, 2 bath home in Burlingame (SW Portland) close

Asked by Mimi, Portland, OR Wed May 6, 2009

to Lewis & Clark college and OHSU? I've been watching Craigslist and it seems some properties stay vacant for a long time and some get rented rather quickly. What are the determining factors?

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Answers

5
Kimberly Kinville’s answer
Depends on the rent asked and the term you need, ie 1 year lease vs month to month.

The month to month rentals are easier to rent because of the flexability. However, in my experience your better off doing at least a 9 month lease as a compromise if the tenant can't commit to a 1 year lease.

The month to month seems to attract very short term tenants. (I've been doing this for 9 years)

If you advertise, use pictures too.

Best of luck!
Kimberly Kinville, Realtor
East Metro Specialist
0 votes Thank Flag Link Thu Apr 22, 2010
All good information. One note however, if you do decide to rent be sure to check the credit and past rental references of prospective tenants. A property management company can do just that part or find the renter for you. As a landlord myself, I have found that success is determined by the amount of upfront checking.
0 votes Thank Flag Link Wed May 6, 2009
Mimi, when you are looking for a rental in Burlingame your competition are Lewis and Clark and OHSU students. Even if a house is small but close to LC school it rents and now with school ending is a good time to look because students have to rent the houses for the summer to have it in August when school starts. On public transportation is important. LC has a bus that runs to downtown I think many times a day and on weekends to help students get a round. The area is great and some times the rental prices are high but they do seem to rent because of the location. Look at http://www.portlandmaps.com and check for crime and you will see it is a pretty safe area. Also look at http://www.walkscore.com and it will rank quite high for a good location. Good Luck.

Tom Inglesby, Broker,
ABR,CRS,RECS, Eco Broker EA S.T.A.R.
Re/Max Equity Group, Inc.
503-319-9035
0 votes Thank Flag Link Wed May 6, 2009
Location - close to all types of public transportation - and Market Price.
0 votes Thank Flag Link Wed May 6, 2009
Craigslist .....Best deals....cleanest homes.
Rentals are going fast anymore unless they are priced at the top end of a range.

Mimi the best rentals on quiet streets with good floor plans that don't have bad carpets and odors....etc...always rent within a matter of days if not hours.

You know what your doing. Any 3/2 in a good area will go for $1100 to $1650 per month. After that it gets tough to rent and you will see that in the time to rent as renters resist the market!

Best wishes;

Dirk Knudsen
Re/Max Hall of Fame
Web Reference: http://www.theknudsens.com
0 votes Thank Flag Link Wed May 6, 2009
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