All Forum Posts by: Sunny Hande

The house value today (June 2018) has appreciated by 65-70% as compared to when we bought the house in 2008.

Hi All,

We own a house in foster-Powell neighborhood of SE Portland Oregon since 2008 and this was our primary residence till 2016. In April 2016, we bought another house and started renting the SE PDX. Managing this rental so far has been easy and it rents fast.

Now the SE PDX market seems to be growing at a slower rate than it was couple of years ago and if we don't sell before next year April, I would have to pay capital gain taxes.

So my question is - Should I sell this house now and avoid paying capital gain taxes and re-invest the proceeds back when the market hits a downturn or hold on it this house for the long term?

Any advise on this would be highly appreciated.

Thank you all for your responses.

We hired the property manager because the screening of application, agreement etc was becoming a little tedious for us to manage as we both work full-time and have toddler age twins :-) & the property manager was charging only 4% 

Here is another thing I heard from our property manager: in her applicant screening process she only verifies their rental history and criminal background check and doesn't do any credit score check.

Also the applicants who got qualified are coming from overseas (African continent) so am not sure how my PM verified their rental history, criminal background check and their 3x income .. Also the applicants snail mailed our PM the $40 each for screening both the applicants. Also our PM said that the applicants have booked their plane tickets.

This whole situation is making me nervous.

@Paul Ronto - They gave us $40 per person and apparently both the applicants qualified.

@Linda Weygant @Paul Ronto

Thank you very much - I will look into the unrelated occupancy requirement for Portland, Oregon.

@John Pierce

No the applicants haven't given us any money except for the $40 application screening fee. Applicants were informed on 06/13.

Hi All,

This is my first post. We moved to a new house and are planning on renting our current house.

We have a property manager who gave application to 2 parties out of which the 1st party didn't meet the criteria but 2nd party did meet the criteria & has been approved. Party has signed/filled the rental application and paid for application screening. Our property manager has informed the party that they have been approved and they can move-in within 2 weeks but we don't want to rent our place to the 2nd party - is it legally possible to back out now ? we haven't signed anything yet and neither has our property manager signed anything with the tenants accept for screening their rental application and taking the application screening fee of $40 per adult.

House we are planning on renting is a 4 bedroom 1954 house with 1 bath in Portland Oregon ( frankly 3 bedroom and 1 media room which opens via sliding door to the backyard but does have a closet). Family planning to move in has 2 adults and 7 kids and we don't think the house can handle 9 people especially the toilet/bathroom with old sewage/septic system. We also are concerned about the washer/drying and the plumbing issues.

Any help in this regards will greatly appreciated.