One of the best ways to maximize your condo’s rental income is to hire a professional leasing broker. While you can manage the leasing business on your own, you risk incompetent tenants, a lack of knowledge, and a loss of money. To avoid these mistakes, you should hire a seasoned professional who specializes in representing owners. A professional broker will be able to guide you through the entire leasing process, providing you with the necessary knowledge.
When you are looking for a property to lease, consider the property’s location. Often, condos are near the university. This means that the location is ideal for students, and many of the units are close to campus. If you plan to move to Portland, consider taking the time to check out the many high-rise apartment buildings in the area. A quick Google search will show you that the Taylor’s Bar & Grill is located near the University of Oregon. The owners plan to convert the restaurant into a 13-story mixed-use high-rise with a retail component.
The process of leasing a condo can be nerve-wracking for both parties. The landlord’s biggest asset is the property, so he or she will want to ensure that the unit is well maintained. However, when you are first renting a condo, the process may be nerve-wracking, but with experience, leasing a condo can be a rewarding experience. If you decide to retire in a few years, you can generate a nice source of income through leasing.
