All Forum Posts by: Mathew Wray

Jon's right, if you can prove they broke it then you can bill them. But if there is no proof then you're on the hook for it. Here in Oregon if a landlord supplies an appliance then they are required to make sure it is in working order.

Are they on a M2M lease? If so then you can modify the lease with 30-60 days notice. Otherwise you can at least request a lease modification or give them some incentive to sign a change.

You might put yourself on shaky ground if you start charging a fee to do all repairs. Check with your local authority...

I'd say the more extensive the better! Having a thorough lease does a number of things for you, the obvious being how it protects you and your properties and your tenants. The other, not so obvious, is that it helps set the tone for the entire landlord/tenant relationship. If you have a solid lease your tenants will know from the start that you are a professional and treat your rental like a business.

Do an internet search for local landlord group or association. They'll have state specific leases that will make sure you're in compliance with all the laws in your jurisdiction.

Best of luck!

Brandon's guide to screening tenants is a great resource that you should definitely check out. Another screening source I've had good luck with is at https://www.tenantbackgroundsearch.com/

With students I'd definitely recommend a co-signing agreement with the student's parents.

Best of luck on your first investment property!

That's a really interesting way to structure a property management fee scale. From your post it sounds like they're paying for repairs and maintenance...I don't know how I could make it if I offered that service. Let us know how it turns out!

Mitch,

As with everyone else, welcome to Bigger Pockets! Oregon has changed a lot over the last few years but Portland is still a fantastic place to live. You'll find there aren't a lot of deals that meet the "rules" of investing but yet you'll run across a number of successful investors calling us home. If you ever decide to pop over to the mainland and visit the fair NW let us know!

Welcome!

Tim,

Thanks for reaching out to post. Definitely take advantage of all the good advice that has been given. I echo Zach about the VA loan and buying a 4 plex. Use the down time and monotony in the desert (I know what that is like from first hand experience) to learn everything you can about landlording. It's complicated and has some serious difficulties but if you are thriving in the military and not a "bird" then you'll be able to apply the lessons learned there to the civilian world and landlording without a problem.

Best of luck and stay safe

I just reconfirmed with Rogue that everything is on. We'll be in the back room starting at 7. On street parking should be free after 7 so we're good there. It can be a bit of a challenge at times but should be findable pretty easily that early in the evening.

Beth,

Welcome to Bigger Pockets! I'm happy you're planning on coming to the meet up...would love to talk shop with you! My girlfriend and I have been interested in Forest Grove for a long time.

Mathew

Josh,

Welcome to BP! I'm in Tigard with some properties in Portland. It sounds like you're going to have a lot to bring to the table in the area. I'm really looking forward to picking your brain about some general, non-RE investment, business questions at the meetup. Welcome!

I too am looking forward to beer and real estate!

Mathew

Hi Greg...Hope North King county is treating you well. I used to live up in Seattle and enjoyed myself completely. I'm glad you've made the jump to real estate. With your background it sounds like you'll have plenty to share!

Where in Lake Oswego did you grow up? It's a nice area! Not a ton of rentals compared to other parts of the city but totally doable.

Again, welcome!

Mathew