Super Beginner Medium/Long Term Rentals HELP!!

[Emily Hutson]

Hi!! 

I am hoping to hear some advice on the best way to get started educating myself on medium/long term rentals. My partner and I bought our first property this year and while we are living in it currently we don't plan on being there for long, as we always intended to turn it into a rental. I am trying to learn as much as I can about what it would take to be the landlords and find tenants. I'm looking for the cheapest, low hassle avenue for finding tenants and keeping the unit rented consistently. 

We would prefer longer term rentals like a year+. However it seems a lot of the sites I was being directed to (airbnb, VRBO, or FurnishedFinder) are all shorter term leases that seem to have a lot of unfilled days. It is a 1BD, 1BA condo with a large bonus room that can be used as a den/office/gym/or unofficial second bedroom. Located in a small 12 unit building, with a community run HOA, in the HEART of NW Portland/Slabtown/The Pearl. Two blocks from the famous NW 23rd St., has a walk-score of 100, public transport score of 99, and bike score of 99, seriously such an incredible location. It also has a super cute, very large private attached courtyard that is so fun for grilling, letting the dog outside, and having friends over. It is also walking distance to numerous Hospitals and Portland State University.

I'd love to hear any advice on what the best sites are for the kind of rental terms I am looking for. Additionally, what is the best way to figure out how to price our unit? How challenging is it to keep people consistently in the unit? We will still have to cover our mortgage so we do not want to have very many if any days unrented? What are some good things to know? Thank you!