PORTLAND, ORE. — If you’ve been following rental news like we do you know that 2015 has seen a huge demand for apartments in Portland Oregon and across the United States than ever before.
Thanks to recent statistics from MPF research we know that besides there being a huge demand for apartments nationwide, retention rates also reached a 10 year high back in February 2015 when over 50 percent of renters indicated they would be renewing their leases rather than let them expire.
Where Does The Market Go Next?
Demand for apartments in Portland Oregon and other cities nationwide continues to remain high since 2010 and this demand is not expected to decrease anytime soon.
With 22 straight months of growth in rents and also demand for Portland Oregon Apartments the multifamily rental market continues to look ideal for investors who are looking for “safe havens” for their money after the recent stock market crash in China.
Now is also a great time to buy an apartment in Portland or an actual apartment building because mortgage interest rates are still historically low and the Federal Reserve indicated that they would still increase rates in the fall.
Before Buying an Apartment Building Do This
Let’s say that you want to buy a Portland Oregon Apartment building but only have experience with buying single family homes.
Here are some tips you should follow as you get close to buying your first apartment:
Tip 1 — Get professional advice from an experienced building inspector, accountant and Real Estate agent on apartment buildings for sale that fall within your budget.
Tip 2 — Hire a Portland Oregon property management company to save the time, money and hassle of managing an apartment building yourself.
Tip 3 — Do the math to make sure that you will be able to see a profit from the apartment building after you pay for all of your expenses.
Contact North Star Property Management
To learn more about the cost of managing your Portland Oregon Apartment Building contact North Star Properties today by calling us at (503) 636-2232 or click here to connect with us online.