So what makes the best rental property? This can depend on a number of factors, but here are some characteristics we’ve noticed of highly rentable properties and things to keep in mind while you’re searching for your next property investment in Central Oregon. SINGLE FAMILY HOMES: • 3 Bed / 2+ bath , 1,200 – 1,800 sq. ft. Sufficient space but be mindful of your overall maintenance/repair expenses as you get into larger properties. • 2+ car garage. • Bonus points for added storage. (It’s Bend, everyone has toys) • Small fully fenced yard, low maintenance landscaping • No washer and dryer, just hookups (most common for single family homes in this area) • No hot tubs -Generally speaking, we don’t see a substantial price difference going from 3 to 4-bedroom single family homes. -Single family home vacancies listed below $1,800/month move the quickest in the current market while properties listed at or above $2,000/month tend to receive a noticeably lower volume of inquires. MULTIPLEXES: • Approx. 900 – 1,200 sq. ft./unit • 2-3 Bed / 2 bath combinations (1 bath may create livability issues if there is a plumbing problem) • Garages/storage are a big plus • Adequate overflow or additional parking • Onsite or in-unit laundry Consider utilities and how they’re metered at the property. When a given utility is metered independently between the sides/units, the tenant typically takes the responsibility and signs up directly with the service provider. When the utility is not metered separately (we most often see this with water & sewer) it’s more challenging to hold the tenant responsible and therefore these utilities are often included in the lease. Properties with a firm “no pets” policy often exclude a substantial portion of perspective renters potentially causing longer vacancy periods and even nominally lower rents. Traditionally our peak seasons tend to coincide with the school seasons being the busiest in the summer months and slowing down a little in the winter.
The holiday season is a time for giving. It’s a time for receiving too. Receiving tons of packages in the mail, that is! Whether tenants are ordering packages for other people or they’re receiving presents in the mail, dealing with all those packages can cause real problems. Knowing how to deal with the influx of packages during the holiday season is important for all Bend apartment managers. Install oversized mailboxes Some boxes won’t fit in any mailbox, no matter how big, but you can drastically reduce the number of packages that pile up outside by installing larger mailboxes for your residents. That way, large envelopes and small boxes can be tucked safely inside, away from prying eyes. Install smart locks If your apartment complex has a locked entry, consider installing smart locks. Instead of the delivery driver leaving packages outside or at the office, you can give them a special code that allows them to enter the building and leave packages in common areas. Accept packages in the office Think very carefully about whether or not you want to accept packages in the office. It can eliminate the possibility of stolen packages, which your residents will appreciate, but it can take a lot of time out of your day. If you choose not to accept packages in the office, make sure you remind residents that this is the case with a friendly email. Don’t let the endless stream of packages turn you into a Scrooge this holiday season! With these tips, all Bend apartment managers can ensure package deliveries go as smoothly as possible.
No one likes to move. It’s a huge hassle. The only thing that takes longer than packing boxes is unpacking them at your new location. To make the entire process easier, many people choose to move when the weather is nice. There’s no doubt that there are plenty of benefits to moving in the spring, summer, and fall, but that doesn’t mean you should discount the possibility of a move in the winter. There are actually some very good reasons to pack your bags and move into a new home when the weather is cold. 1. You’ll save money Supply and demand dictate costs in the moving industry, as is the case in any other industry. Business for movers picks up in the spring, peaks in the summer, then eventually reduces down to almost nothing in the winter. While demand is high, moving can be more expensive as companies attempt to take advantage of the influx of business. As the weather starts to get colder in September and October, you’ll likely see moving companies offer special deals on their services. Those deals are usually at their best in December, January, and February. Make your move even cheaper by moving in the middle of the week and the middle of the month. By maximizing the power of your dollars in the winter, you can get the white glove service you would only dream of when moving other times throughout the year. 2. There’s a lot less competition This is a likely conclusion once you know winter is the slow season for moving companies. With less competition, prices are lower, but that’s not the only competition we’re talking about. If you’ve ever moved during the busy season in an urban area, you know how congested it can get. If you’re moving during the summer on a weekend, you can bet you’ll be fighting with other moving trucks on the road. If you’re moving into an apartment or on a busy street, you likely won’t be the only truck in the area. Add to that the increased traffic during the warmer months, and you can see why moving in the summer can actually be a pain. Adding storage to your moving plan? Storage facilities are busier than ever during the warmest months of the year. Don’t be surprised if you have to wait for someone to move their vehicle in order to get into your unit. 3. You can worry less about your belongings Hot temperatures aren’t kind to the things you have packed in your boxes. A professional moving company can help safeguard your belongings, but accidents happen. Especially if your boxes are packed inside a hot metal truck. Items that can easily be destroyed by the heat include: Vinyl records Candles Soap Makeup Food If something does melt, it could take out the stuff it melts all over, which means even more of your belongings could get destroyed. In the winter, everything is perfectly preserved so you don’t have to worry about how long the movers are taking to get that box of collectible records off the truck. Many people may avoid a move in the winter, but now you know better. By moving your stuff during the coldest months of the year, you can save time and money. You may never move in the summer again!
