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The Value of Property Management: Q&A

As we embark on a season of transitions, we're reminded just how special North Star's journey has been. Our deep roots with the local community has allowed our dream to become a reality; and now, we have the opportunity to help investors realize and achieve their dreams. Much like esteemed homeowner Juliana.

Juliana began her journey with North Star Property Management in the fall of 2020 that proved fateful when the property sold, grandfathering in the tenants we placed. The smooth transition to the sale market and the possibilities that beget exemplifies the opportunities we aim to provide investors. We were pleased to learn that Juliana plans to continue her leasing journey with our Bend branch. But we wanted to know more about the connections and decisions made along the way that led her to North Star. Read on to learn how property management impacted Juliana's investment journey!

Tell us about your investment journey. What made you want to purchase a property in Portland and pursue property management?

We are both originally born and raised in Portland, Oregon so the Rose City will always have a soft spot in our hearts. After living in Europe for a few years, we came back home to remain close to our family as well as our workplace.

Our quarantine time during the COVID-19 pandemic taught us to seek retirement earlier than planned and to live full-time in Central Oregon. We loved our home and decided to lease it to expand our financial portfolio. We initially had no idea on how to move forward, yet with some recommendations from friends, we were introduced to some property management companies. We quickly learned how much easier they make the entire process - from preparing our home to be leased to finding the perfect tenants and to managing the property after move-in.

What were you looking for in a property management company? Have you worked with asset managers in the past?

Here are the 5 expectations of what we were looking for in a property management company:

  1. Provide service beyond expectation - do what you say you're going to do
  2. Educate us on current real estate market realities so we can make informed decisions
  3. Identify & secure tenants that value our property investment as much as we do
  4. Establish a partnership that instills confidence our home will be well taken care of and maintain its value
  5. Ensure that the end result provides a return on investment

Our financial advisor supported our desire to broaden our assets by leasing our home. This reinforcement coupled with a property management company's real estate knowledge and expertise was the perfect combination in moving this opportunity forward.

What Made You Choose North Star?

North Star immediately made us feel like this was going to be a true partnership and not just a business transaction. This made it personal for us which we deemed very important when choosing a property management company. Our initial meeting informed us of their authenticity, vast knowledge, code of ethics, customer service and overall success rate. We found ourselves quickly at ease and confident that our journey together was going to be a positive one.

From Your First Meeting to marketing to leasing, how has your experience been? Are there any examples or interactions that stand out?

The entire journey was one that surprised and delighted us - it is no wonder North Star is considered an industry leader! Our experience began with an informative phone call from Quinn that evolved to a meeting with both Bridget and Anaiah regarding a thorough overview of what to expect going forward. Kate and Alli continued with detailed communication and guidance as we all prepared for our future tenant.

North Star's Marketing services soon led us to our dream tenants which exceeded the rest of our hopeful expectations. Bridget and I often say how grateful we both are having the chance to work together with such amazing tenants.

When maintenance issues arise, the communication, problem-solving and end result are always done promptly and with the utmost professionalism.

We also have to give a shout out on the timely and informative monthly statements. They consistently instilled confidence that our property was effectively being managed.

You indicated that you'd like our Bend branch to manage properties for you down the road. Tell us about the value property management has brought you and why you plan to continue using our services.

The value and service that North Star has provided has been above and beyond our expectations. You taught us, and most importantly, showed us how to realize the benefit of investing in property. We are now motivated to broaden our real estate portfolio in Central Oregon utilizing North Star's local team to manage our investments in this area. Our future goal is based solely on the extraordinary experience we've had with North Star's incredible team. We are grateful for our soon-to-be expanding partnership!