RHJ Valley April 2017

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Rental Housing Journal Valley

April 2017

2. Essential Cleaning Tips and Techniques for the Spring

4. Mind Your Business – Tia’s Tips for Better Rental Management

3. RHAO President’s Message

5. Dear Maintenance Men

7. Essential Cleaning Tips and Techniques for the Spring

EUGENE · SALEM ·ALBANY · CORVALLIS WWW.RENTALHOUSINGJOURNAL.COM • PROFESSIONAL PUBLISHING, INC

How To Improve Your Tenant Selection and Screening

Creating a Buzz to Attract Renters to Your Properties

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n the Chicago Tribune, the real estate section has a weekly feature that profiles an apartment community in their readership area, taking great care to describe the apartment in rich, picturesque detail. It’s one of my favorite parts of the newspaper; allowing me to experience a property that I may not typically visit. While this may not be feasible for most apartment communities, there are ways to create a similar buzz about your own communities. These can range bolstering your social media profile to teaming up with area businesses that are willing to send applicants your way. While the strategies may vary, all can work to drive more quality applicants to your properties. • Ramp up your social media strat-

By Landlord Hank

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was very proudly showing my very first rental property, which had been extensively renovated, to a nicely groomed and mannered young woman. She arrived for her tour, on time, in a newer vehicle, praising the property and saying she’d love to rent it. I fancied myself as astute and a good judge of character so I thought I’d skip the tenant screening step. I had her fill out an application and pay the fee. I told applicant I would let her know later in the day. As I thought more about not screening this tenant I decided to reconsider. I did screen her and found out she was in the process of eviction and hadn’t paid rent in three months! So do not learn the hard way. Here are some questions and answers to help. Question: The landlord/investor has the property ready to rent-everything has been repaired and works properly, the unit is clean and looks great, inside and out. You have shown the property to a tenant prospect that seems to fit your criteria and can move in quickly. So what is the next step? Answer: This step is CRITICAL and if this step continued on page 7 Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007

tours of your community may also be useful. And don’t underestimate the value of Twitter, which can quickly get information out about your community and drive people back to your website for more information. Encourage your residents to share their positive experiences on social media as well.

By Mary Girsch

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egy. This can be anything from creating a Facebook profile if you don’t already have one, to posting more in-depth information such as photos and videos of your apartment community that can be easily viewed and shared. Virtual

• Create a professional website that is loaded with tools that will appeal to those looking for a new rental home. This includes easy navigational tools, online photos and property tours and access to an online application option as well. If you already have a quality website, make sure that it is updated constantly, with fresh photos continued on page 3

The World is Searching for Reliable Property Managers

irtually every month I meet or hear of a rental income property owner who wants to expand their portfolio. They’re searching throughout the 50 states for deals that make sense to them. Of course finding a lucrative “cap rate” is a challenge in today’s world. With interest rates still at historical lows, the return-on-investment (ROI) is also very low. The “cap rate”, aka capitalization rate, is the rate of return on a real estate investment property based on the income that the property is expected to generate. Are you aware of the cap rates nationwide? Knowing what they are, especially in your state and the surrounding states in your region gives you a competitive advantage. On your web page or social media page you’d be able to offer your insights. Those insights based on up-to-date information and exceptional awareness will attract prospective clients who are looking for reliable, competent property managers to do business with. Are you one? continued on page 8 PRSRT STD US Postage PAID Portland, OR Permit #5460

Text REALESTATE-ROI to 44222 to receive a digital copy of this year's Real Estate Opportunities in Investing (ROI) Finding Investing Success in Today's Housing Market


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