Who We Are
We are a group of dedicated professionals who are qualified to help you evaluate all your property, local neighborhoods and rental markets in order to determine appropriate rental fees. Our goal is to maximize the operating results of each asset through thoughtful planning and effective implementation of management plans, while preserving and increasing the value of your investment. Our clients work with us because we get it.
Our cloud based property management software allows our experienced team to manage your properties with the highest level of service. Our software not only provides great benefits to our office but we are also able to share many of these benefits with you:
RESPOND MORE QUICKLY AND OFFER EXCELLENT SERVICE TO BOTH OWNERS AND RESIDENTS.
At any time and from anywhere, we are able to securely access data about all properties. Sensitive records are safely stored in a state-of-art data center which is automatically and routinely backed up.
SAVE TIME AND PAPER BY USING EMAIL TO SEND MONTHLY OWNER STATEMENTS.
The statements are organized in a concise and easy to read format that details the performance of your property for the previous month. We can also post these monthly statements on a secure Owners Portal.
PROCESS AND RESPOND TO MAINTENANCE REQUESTS MORE QUICKLY.
We can quickly resolve issues by accessing vendor information and using electronic work orders for more efficient communication. All records are stored for future access.
PAY YOU EVEN FASTER EVERY MONTH.
Deposits can go directly into your bank account using ACH (electronic payments).
MARKET YOUR PROPERTIES IN MORE LOCATIONS ACROSS THE INTERNET, FILLING VACANCIES MUCH FASTER.
Our integrated system lets us professionally advertise your properties on our company Web site, Craigslist, and more than ten rental sites like Zillow, Trulia, and Pad Mapper.
PROSPECTIVE RESIDENTS CAN APPLY ONLINE WITH THE CLICK OF A BUTTON.
Online applications are integrated with all vacancy postings. This means we avoid paper applications, saving lots of time and ultimately filling vacancies more quickly.
RESIDENTS CAN AVOID SENDING RENT CHECKS BY PAYING THEIR RENT ONLINE.
We avoid the time and expense of managing rent checks each month and this is a great value-add service for residents.
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Frequently Asked Questions
WHEN IS MY HOUSE READY TO RENT?
The condition of the house is key to attracting quality tenants. Your home must be professionally cleaned as tenants will be paying a non-refundable cleaning fee. Living Room prefers to arrange the cleaning to ensure that the cleaning guidelines are strictly followed. The carpets must be professionally cleaned along with all debris and personal belongings removed from the house.
Painting should be considered for any room or area outside that is dirty or has chipped paint. We recommend neutral colors. Living Room would be happy to discuss any needed repairs or painting with you. Neutral window coverings such as blinds or curtains should be left for tenants to provide privacy and safety. If yard service is not included in the rent, tenants are generally requested to maintain the yard in the condition it is provided to them. The yard should be freshly mowed, weeded, trimmed and the leaves and debris removed.
WHAT IS THE AVERAGE TIME TO RENT A PROPERTY? HOW WILL MY HOME BE MARKETED?
The average time to rent a home is two to four weeks. Winter months are often slower, which may add additional time. We market the home as soon as we receive notice from the existing tenant and have permission from the owner to market their property.
Your property will be posted on our website as well as third party websites. Yard signs will be posted on the property for potential interest of people driving by.
DO YOU COLLECT FIRST AND LAST MONTHS RENT?
We recommend the standard for the Portland area which is about two months rent. It is generally preferable to collect the first months rent plus a security deposit. The security deposit can be used for any owner costs, vs a last month rent which can only be used for rent.
In addition, we take a refundable security deposit, the total of which is approximately one month's rent. We make the arrangements for the property to be professionally cleaned between each tenant. The Security Deposit is held in a Clients Trust Account, as mandated by the Real Estate Division.
CAN I EXCLUDE SMOKERS, PETS, OR CHILDREN?
Living Room Properties prohibits smoking in the interest of protecting your investment.
Tenants with pets are a large majority of the market for rental homes. Pet owners are not a protected class, but allowing pets increases the available potential renters. Additional pet deposits generally run $200 to $500. If you feel very strongly about not allowing pets, we will agree not to show your property to anyone with pets. Children are under the protected class of "familial status. " It is not possible or legal to discriminate against anyone with children. Our application forms do not ask number or ages of any children.
WHAT HAPPENS IF THE TENANT DOES NOT PAY RENT ON TIME?
The rent is due on the first of each month and considered late after the fifth. If the rent is not received by the eighth of the month, Living Room will take the first step in the eviction process by sending a 72 Hour Notice to either pay the rent or vacate the property.
If the tenant has not paid by the end of the 72 hour notice period, which rarely happens, the owner is notified to file at the courthouse for a FED (eviction) hearing, which is within ten days. The majority of evictions are handled without an attorney. The owner is responsible for paying the initial filing fees which are charged back to the tenant and should an attorney become necessary in a contested FED, the owner is responsible for all legal fees.
WHEN DO I GET MY MONEY EACH MONTH?
The rents are due on the first of the month and are considered late after the fifth. The rental funds must clear the tenants banks before Living Room can begin disbursing funds. The Real Estate Division requires two weeks for clearance. We begin the payment of bills on the fifteenth. We are able to use electronic payments (ACH) to deposit funds directly into your bank account.
HOW AM I PROTECTED IF THE TENANT DAMAGES THE PROPERTY?
To minimize the risk of tenant damage, a security deposit is required at move in. It has been our experience that tenants who pass our screening criteria do not generally create damages over the amount of the security deposit. Our screening company checks criminal, credit and eviction records as well as jobs and landlords. If there is additional damage then what is covered by the security deposit, the tenant will be billed. If they do not pay, the matter is turned over to a collection agency.
WHAT HAPPENS IF THE TENANT LEAVES BEFORE THE END OF THE LEASE?
The tenant is responsible for the rent for the term of the lease. If they leave prior to the termination date of the lease, they will be charged a lease break fee equal to 1.5 times a month's rent. This fee is paid to you as the owner.
WHO HANDLES EMERGENCIES?
Living Room will handle all emergency and non-emergency repairs. We will keep you informed, but you will never receive a call in the middle of the night.
WHO HANDLES THE REPAIRS ON THE PROPERTIES?
We use license and bonded contractors who provide competitive rates that we have built strong partnerships with that are available 24 hours a day for emergencies. You are billed at the amount of the vendors invoice - we do not add any additional charges for supervision of routine repairs.