Blog

  • 03/11/2016

    Should I hire a Property Manager?

     Trying to determine if you need to hire a professional property manager can be a difficult decision for some. Here is a quick infographic from Appfolio to help you out.






    Is It Time To Hire A Property Manager
    Source: AppFolio.com

  • 03/11/2016

    Special Announcement: Good Stuff is Happening at Apartment Community Management!

    Special Announcement: Good Stuff is Happening at Apartment Community Management!
    Apartment Management - Portland Oregon
     and Vancouver Washington

    I am happy to be able to announce that Apartment Community Management LLC. is taking a huge step in our growth plan! In an effort to better serve our increasing portfolio of clients and reflect the broader makeup of properties we manage we now be doing business as LegacyProperty Management.  Going forward our new business name and all branding will be Legacy Property Management. Our newly improved company brand will be launching on March 15, 2016.

    My partner, Dan True, thinks of it like this:

    "We realize that for many of our clients, these property portfolios are more than just investments. They are family businesses. They are Legacies that will continue to live for generations to come.  Legacy Property Management is prepared to help you grow that Legacy and manage it into the future."

    For us, this is more than just a name change.  As the rental market continues to heat up in the Greater Portland Metro and Southwest Washington areas, we realize that it is crucial that we reinvest in our company to assure that we are providing you with World Class support at every step along the way. That investment will include adding new systems, easier access, better tools, and best in class reporting.

    We have moved to larger offices to accommodate the growth.

    New Phone Number: 503-765-9479
    New Fax Number: 971-233-8160

    As part of this restructure, we will also be making critical changes to our team.

    Our Team Leaders are:

    Abraham Walsh – Owner and Chief Operations Officer – in charge of the day-to-day operations of our business.  Email

    Dan True – Owner and Marketing and Finance Officer- in charge of marketing and financial operations. Email

    Nick Sausville – Leasing Agent- manages leasing of units and tenant move in/ move out process. Email

    Nancy Moyer – Office Manager- Main point of contact with our office. Email

      Bill Johnson – Supervisor in charge of Repair and Renovation employees and projects.
      Email

    Same great service with added features

    Over the next few months we will be adding exciting new features and benefits that are specifically designed to make it easier to manage your property portfolio. Keep your eyes open for more news regarding:

    ~ A new and improved web page to better service both owners (Owner Portal) and tenants (Tenant Portal) needs.
    ~ A multifaceted referral program
    ~ An informative newsletter
    ~ Seasonal preventative maintenance service

    Note: As we change our systems over we will make every attempt to make it as seamless as possible for our clients. You will be seeing some changes to email addresses and web sites. We will keep you informed every step of the way.
      
    Thank you for choosing Legacy Property Management to manage your properties. We look forward to serving you now and in the future!

    Abraham Walsh
    Legacy Property Management


    Legacy Property Management is the premier provider of rental property management Portland Oregon and Vancouver WA

  • 03/07/2016

    Dan's new blog - Apartment Management Portland Oregon

    My friend Dan is on fire again with his new Legacy Property Management Blog. Today he wrote a great piece about the 3 Reasons Why Owners Don’t Hire Property Managers. Most of it is due to the fact that many real estate investors do not full understand what property Management Company actually do.  You can read it here:

    3 Reasons Why Owners Don’t Hire Property Managers

    Are you one of the investors who think that property management companies just sit back and collect rents for you? Read this post and it might just change your mind.

    Legacy Property Management is the premier provider of apartmentbuilding management Portland Oregon and apartment building management Vancouver Washington.

  • 03/07/2016

    Get Rid of Boxelder Bugs - How to kill elder bugs without using dangerous chemicals.

    Get Rid of Boxelder Bugs - How to kill elder bugs without using dangerous chemicals.
    apartment building management Portland Oregon and apartment building management Vancouver Washington
    Box Elder Beetle Target Practice!

    If you are a resident of the Pacific Northwest, then you have certainly seen the WesternBoxelder Beetle (Bug.)In the fall, it is a very common sight to see them warming themselves on the sunny side of the homes in most neighborhoods. Boxelder bugs spend the winter in protected places, including homes. On warm days,  they'll come out and rest in the sun, and you'll see them on the south and west sides of homes.

    They are not dangerous. They don't sting or bite. They don't cause much damage to plants, trees or fruits. They don't cause any structural damage to your home. What they are is ugly and annoying!

    How do you get rid of them?

    The answer is amazingly simple. You will need a squirt bottle, liquid dishwashing soap, tap water, and a kid who likes to play with squirt guns. Mix the water and soap in the squirt bottle to make a 10% soap solution. Screw the squirt top on, set it on the stream setting for distance, give it to your small marksman friend and send him out the door for target practice! It is really that simple.

    One shot and the elder bug will fall off the side of the house and die. If you have squirrels in the neighborhood, they will come and eat the dead bugs. Oddly enough, they will eat the bodies but leave the wings behind for you to sweep up.



    Legacy Property Management is the premier provider of apartmentbuilding management Portland Oregon and apartment building management Vancouver Washington.

  • 03/04/2016

    A New Property Management Blog for Portland Oregon and Vancouver Washington

    A New Property Management Blog for
     Portland Oregon and Vancouver Washington
    My friend and partner just launched his new Legacy Property Management blog this week and I thought you would like to see it.

    His first post is a well written piece about the differences between a being a landlord or an investor here in Portland Oregon and Vancouver Washington.

    Here is a quip from his post and a link to the rest:

    Which are you? An investor or a landlord? Here at Legacy Property Management we see both on a daily basis. You may be asking yourself, “What is the difference?”


    Abraham Walsh
    Legacy Property Management


    Legacy Property Management is the premier provider of rental property management Portland Oregon and Vancouver WA

  • 03/03/2016

    How renters are finding and paying for apartments. Apartment Management Portland Oregon


    Look at the most recent stats on renters in target cities across the U.S. See how they are finding housing, who’s mobile, what amenities they crave and more. What does renter behavior look like in your area? Check out this info graphic from Appfolio.

    Apartment Building Management Portland Oregon

    Legacy Property Management is the premier provider of apartmentbuilding management Portland Oregon and apartment building management Vancouver Washington.    

  • 01/09/2015

    Insurance: Do you have the right kind?

    Examining your insurance needs is a critical step in managing your important property assets. A mistake could prove to be very costly should the time come to make a claim.  Not only should you consult with the best insurance agents available but you should also review your policies periodically to be sure that you have the proper coverage as your portfolio grows. Legacy Property Management works with the best agents in the area and we are happy to provide references. Feel free to call us if you have insurance needs.

    As a quick overview, read this great article from the Oregon Rental Housing Association Inc. http://www.oregonrentalhousing.com

    The Department of Consumer and Business Services, Insurance Division advises Oregonians to consider their insurance needs when engaging in new apps and websites that facilitate car rides, vacation rentals, and other services – known as the “sharing economy.”

    “When a new industry emerges, it often creates unique insurance situations,” said Insurance Commissioner Laura Cali. “Consumers should be aware that traditional insurance policies may not apply when participating in a new kind of business.”

    Examples include transportation networking companies (TNCs), such as Uber, Lyft, and Sidecar, that offer smartphone apps to help connect drivers and passengers as an alternative to taxis. Drivers who participate use their personal vehicles to transport passengers for a fee. Other companies, such as Airbnb, allow people to list and book properties for rent through its website.

    Here is what you need to consider before participating in these new endeavors:

    Drivers of TNCs
 - Personal insurance policies will not provide you with coverage if you drive for a TNC. Because you would be collecting a fee for driving another person, your personal insurance policy would not cover any damage or losses that occur. Before signing up to become a driver:

    * Find out if the company has an insurance program. Make sure the commercial automobile insurance policy held by the TNC includes coverage for bodily injury and property damage to you and others before and during the time you are designated to drive passengers for payment.

    * Review any agreement involving car-sharing or ridesharing. Seek legal counsel if needed.
* Call your insurance company or agent to discuss your options and whether you might want to consider a commercial insurance policy.

    Passengers of TNCs - 
Neither your personal auto policy nor the personal auto policy of the driver will protect you when you are riding in another vehicle for a fee. Before using a ride-sharing service:
* Ask the transportation company if it has coverage that will pay for your expenses in the event of an injury.
    
* Call your insurance company or agent to discuss your options.
    Rental Management Company Portland Oregon
    Rental Management Company Portland Oregon

    Homeowners listing their home for rent
 - Some insurance companies may provide coverage if you occasionally rent out a room, but making all or part of your home available for regular rental likely would be considered business use. Homeowner policies generally do not provide coverage for business use. If you are considering renting out your home through a service such as Airbnb:
    
* Check with your agent or insurance company if you’re considering making all or part of your home available for rental on a regular basis. Your agent or customer service representative can explain how your current policy does or does not apply and any options available to you. 

    * Find out whether you can add to your coverage, or whether you have to buy a policy specifically designed for a landlord. 

    Consumers renting a room or home
    
If you rent through a mobile app or website and there is damage to your belongings during your stay, your own homeowner or renter policy would apply similar to when you rent a hotel room.

    If you have questions, the Insurance Division can help. You can reach the division’s Consumer Advocacy Unit by calling
    1-888-877-4894(toll-free), emailing cp.ins@state.or.us, or visiting www.insurance.oregon.gov.
The Insurance Division is part of the Department of Consumer and Business Services, Oregon’s largest business regulatory and consumer protection agency. Visit http://www.dcbs.oregon.gov

    For more information: Lisa Morawski, lisa.m.morawski@state.or.us

    Legacy Property Management is the premier provider of apartment building management Portland Oregon and apartment building management Vancouver Washington.

  • 11/30/2014

    Ten Top Benefits ACM Gives Property Owners


    It’s true that an excellent management team lets owners get a good night’s sleep without the hassle of suiting up to go fix a backed up toilet at two in the morning. But, that might not be enough. 

    Here are ten perks for property owners who partner with ACM. 

    #1  Saving money with contractor relationships.

    ACM vets contractors, looking for the best prices and highly trained technicians who are licensed, bonded and insured. Outside services combined with an in-house maintenance staff and a capable supervisor to monitor routine inspections spot issues before they turn into major problems. Happier residents, fewer high-priced emergency repair bills.

    #2  Increasing revenue with high quality residents.

    Screening residents preserves the revenue stream. ACM's experienced managers know how to spot red flags on applications and identify those applicants most likely to pay on time and take good care of the property. Advanced technology and screening tools allow our leasing agents to evaluate dozens – or hundreds – of applicants thoroughly and quickly.

    #3  Avoiding legal problems, financial pitfalls and scams.

    TransUnion reported that it costs landlords about $1917 to evict a resident. The credit reporting agency recommends that property managers report rent payment history as a way to help renters improve their credit score and improve risk management for landlords.

    ACM's skilled managers understand landlord-resident laws governing resident rights, eviction processes and safety. A few other potential legal issues include:

    • Discrimination
    • Leasing disclosures
    • Rent collection and late fees
    • Notification and access for inspection
    • Licenses and permits

    #4  Boosting occupancy numbers.

    ACM's veteran property managers understand the importance of short vacancy periods. Partnering with ACM offers owners access to proven marketing strategies and rate comparison tools to capture the highest return on investment based on community standards.

    #5  Stabilizing higher retention rates.

    Keeping residents happy is perhaps the best way to improve occupancy rates. A good property manager looks for ways to enhance the customer experience. That means renters have access to resident portals that make paying rent efficient and convenient. Maintaining a safe, attractive community and building relationships are two other ways we increase satisfaction to curtail frequent turnover.

    #6  Simplifying accounting and oversight.

    An experienced property manager shares information about tax deductions and investment opportunities for owners’ consideration. While we don’t help owners prepare tax returns – that’s a job left to CPA’s and tax professionals – we do provide tools like on-demand owners’ statements and reports that keep owners informed about the income, expenses and maintenance requests.

    #7  Defining the rent capture process.

    Efficient rent collection processes ensure financial success for property owners and managers. ACM assumes responsibility for establishing and enforcing strict payment guidelines. That means homeowners don’t have to spend time and money chasing down the rent every month.

    #8  Enjoying the benefits of property ownership without giving up personal freedom.

    Some people invest in real estate as a means of funding an active retirement. With a reputable property management team such as ACM minding the fort, owners can travel extensively, spend more time with family or explore other hobbies and interests – without worrying about their property.

    #9  Increasing property value.

    Annual preventative maintenance inspections, repair or replace policies for appliances and initiating property upgrades to stay competitive protect assets and increase value. At ACM we stay in constant communication with owners about the steps they can take to manage property value in the market place.

    #10 Reducing stress.

    The nine benefits above all serve to reduce the stress of property ownership. It’s not easy to put a price tag on living a life free from the hassles of being a landlord, but most would agree that less stress is definitely a valuable benefit.




  • 09/20/2014

    Renters Forego Space For Location

    apartment building management Portland Oregon
    Apartment building management Portland Oregon

    Many young renters across the United States have decided to forego larger apartments for a better location or amenities. Their lifestyles have changed and now many are looking for easier access to the hotspots in town and better amenities rather than extra square feet. This is important for investors to know as it will allow them to boost the price per square foot rates in some of their asset properties.

    “They’re sacrificing living space for a prime urban location and extras such as cooking classes, dog-wash stations and poolside WiFi.”  Bloomberg recently posted an article exploring and discussing what young professionals are looking for when deciding where to rent. Click on this link to read the full article: 

    Renters Trading Size for Frills Fuel US Apartment Boom

    Legacy Property Management is the premier provider of apartmentbuilding management Portland Oregon and apartment building management Vancouver Washington.

  • 06/28/2014

    How to Kill Ants Without Pesticides

    How to Kill Ants Without Pesticides

    When you open your cabinets and see ants swarming your spilled sugar, it might be tempting to use strong chemicals to take them all out as soon as possible. However, pesticides are unhealthy for humans, pets, and other beneficial creatures you might want hanging around your property. The good news is that there are so many highly effective ways to kill ants without pesticides that there's really no need to turn to them. See Step 1 and beyond to learn how to make ant spray and traps, take out a whole nest, and deter ants from coming inside, all without using pesticides.


    Using Natural Insecticides

    1. 1
      Use dish soap and water. Fill a water bottle with one part dish soap and two parts water, then shake it up to mix the solution thoroughly. When you see a line of ants (or just one ant, for that matter) spray the mixture over them. They'll immediately halt and suffocate. Wipe up the dead ants with a wet cloth, and keep the spray bottle around for next time.[1]
      • Setting out shallow dishes of soapy water is another good way to kill ants. Lure them in with a trail of something sugary.
      • This method is good for killing groups of ants, but it won't take out the entire nest. If ants keep coming back, you might have to address the source of the problem.
      • Soapy water is a natural insecticide that kills most insects, not just ants. Try it on roaches, too.
    2. 2
      Try white vinegar and water. Ants really hate vinegar, and you can make a cheap, easy pesticide just using vinegar and water. Mix a 50/50 solution of vinegar and water in a spray bottle. Spray it directly onto the ants to kill them, then wipe up the ants using a damp paper towel and discard them.

      Kill Ants Without Pesticides Step 2.jpg
      • You can also use vinegar and water as a deterrent; spray it around your windowsills, doorways and other places where you see ants coming inside.
      • Some people have found that using this vinegar solution to clean the floors, windows and countertops makes ants less likely to crawl over these surfaces. White vinegar makes an excellent household cleaner, and you can't smell it once it dries.
    3. 3
      Make a lemon juice solution. If you can't stand the smell of vinegar, spray the ants with a lemon juice solution. They're averse to the citric acid in lemon juice, so you can use this spray as a deterrent as well by spraying it around the perimeter of your house. Mix up a solution of 1 part lemon juice to 3 parts water and use it as an all-purpose spray.[2]
    4. 4
      Sprinkle diatomaceous earth inside the house. Food-grade diatomaceous earth is a very effective insecticide that doesn't harm humans or pets in the least. It's composed of fossilized material that has been ground to a powder. When insects walk over the powder, the tiny fossil shards cut their exoskeletons, causing their bodies to dry out. Sprinkle the powder along your baseboards, windowsills, and around the perimeter of your house to kill ants.
      • It's recommended that you wear a mask or cloth over your face when handling diatomaceous earth. While the powder isn't harmful when ingested, the tiny particles can be hard on your lungs when you breathe them in.
      • Diatomaceous earth becomes ineffective when it gets wet, or even when the air is damp and humid. Vacuum or sweep it up every few days and lay out fresh powder to make sure it stays effective.
    5. 5
      Use boric acid. It's completely natural and it really works against ants. When they ingest boric acid, it poisons their stomachs and they die. Boric acid also damages ants' exoskeletons the same way diatomaceous earth does. It comes in the form of a white or blue powder that you sprinkle in areas where you commonly see ants, like near your baseboards or in your windowsills.[3]
      • Boric acid is not a toxic pesticide, but it should not be consumed by humans or pets. Avoid using it in areas where your children and pets play. Don't use it near food sources or in your kitchen cabinets.
      • Boric acid is nontoxic to beneficial insects, birds, reptiles or fish.[4]

    Laying Traps

    1. 1
      Make boric acid sugar traps. These are easy to put together, inexpensive, and best of all, extremely effective. All you need is a few pieces of cardboard or index cards (one for each trap), a bottle of corn syrup or any type of sticky sugar substance, and boric acid powder. Here's how to make the traps:
      • Mix 2 tablespoons of corn syrup and 2 tablespoons of boric acid in a small bowl.
      • Make sure the texture is paste-like and sticky, not runny. Add more boric acid if it's too wet.
      • Use a spoon to spread the mixture over the surface of your cardboard pieces. Each piece is its own trap.
    2. 2
      Set the traps where you tend to see ants. If they like to collect on your bathroom floor, put one there. Put one under the kitchen sink, and another on your front porch. Set the traps around wherever you see ants gathering.
      • Since the traps contain boric acid, don't put them in your kitchen cabinets or near food sources.
      • You can put the traps outside, too. Place them in your flower beds or near your trash cans.
      • The sugary smell might attract critters other than ants, like your child or dog. Make sure to put the traps out of reach of kids and pets.
    3. 3
      Wait for the traps to attract ants. If you have an an infestation, it won't be long before the traps become full of ants who wander onto the cardboard in search of sugary food and feast on the boric acid-tainted syrup. They won't die just yet, but the poison will soon take action in their stomachs. In the meantime, they'll return to their nest to bring some food back for their fellow ants, which will in turn ingest the poison.
      • When you see ants entering and leaving the traps, let them move around freely. If you kill them, they won't get the chance to bring the poison back to the nest, killing dozens more ants.
      • This method won't necessarily kill the entire nest of ants, but it will significantly reduce the population of ants around your home.
    4. 4
      Change out the traps when the syrup dries. After a few days, you'll probably need to set out fresh traps. Mix up a fresh batch of the ant poison, spread it on pieces of cardboard, and set out the traps.
    5. 5
      Keep using the traps until ants no longer come to them. After a week or two, you should see the number of ants coming to feed on the syrup decline dramatically. When you start to see dead ants around the vicinity of the traps, and you no longer witness hoards of ants marching into the house your work is done.
    6. 6
      Use cornmeal borax traps to kill the larvae. Worker ants eat liquids, not solids, but they'll carry cornmeal pieces back to their nest. They'll feed the solid pieces to larvae, which then convert the food into liquid and feed it back to the worker ants.[5] In this way, the boric acid cycles through several generations of ants.

      Kill Ants Without Pesticides Step 4.jpg
      • Make sure the dishes of cornmeal and borax are low enough to ants to get in and out.
      • You can also make a dry paste with cornmeal, borax, and a few drops of water. Spread the paste in areas where you tend to see ants.

    Taking Out a Nest

    1. 1
      Follow ants to track down the nest. If ants keep swarming your house no matter what sprays and traps you employ, you'll need to attack them at their source: the nest. When you see a trail of ants marching inside, follow it as far as you can to find the anthill. Depending on the species of ant you're dealing with, the nest may be out in the open, hidden carefully in rocks or hedges, or inside your house.

      Kill Ants Without Pesticides Step 5.jpg
      • Little black ants are one of the most common home invaders. These ants walk in long, slow lines, giving away their nest sites to anyone with the good sense to follow them outside. You'll find their nests in sheltered spots around the yard.
      • Odorous house ants(known for the rotten coconut smell they emit when you crush them) build nests inside the house in window frames or inside the walls. They also build nest outdoors in woodpiles, mulch piles, under rocks, and in other outdoor crevices.[6]
      • Pavement ants tend to nest in cracks in the sidewalk or driveway. You might not be able to see the nest itself, since it could be hidden under the pavement, but you should be able to find the ants' entryway.
      • Fire ants usually don't come inside the house, but you might have a nest on your property that's preventing you from walking around your yard in bare feet. Look for a large mound raised above the ground and composed of sand-like granules.
    2. 2
      Prepare a pot of boiling water. Fill a large pot halfway to the top with water. Bring it to a rolling boil over high heat. As soon as the water comes to a boil, and while it's still piping hot, you'll need to be able to get it from the kitchen to the nest you found.
    3. 3
      Pour the water over the nest. Try to pour it into the entry hole you found. The boiling water will kill hundreds of ants on contact, and it will also cause the nest to collapse. If the nest is quite large, you might want to pour more than one pot of water over it.
      • If the nest you're dealing with is indoors, the boiling water trick might damage your house. Instead of using water, douse the nest with a bowl of soapy water. You can also put on a pair of long rubber gloves and scrape the nest into a bucket, then drown the ants.
      • If you're dealing with fire ants, make sure you approach the nest wearing long pants tucked into socks and long sleeves. The ants are sure to get angry, and they may swarm out of the nest and attempt to climb into your clothes.
    4. 4
      Check for ants over the next few days. If the boiling water effectively killed them, your ant-enduring days should be over. If you see a slow trickle coming back, give the nest another boiling water treatment. Sometimes it takes more than one application to effectively kill all of the ants.
      • If the boiling water doesn't seem to be doing the trick, take a stake and stab it down into the nest. Wiggle it around until you have a fair-sized crater. Fill the crater with baking soda about half way up and pour vinegar over it.
      • If you're trying to kill red ants, you can also try what is known as "bucketing." Wearing pants tucked into long socks for protection, take a shovel and quickly shovel the fire ant mound into a large bucket that has been sprinkled with baking soda, which keeps the ants from climbing out. Keep going until the whole nest has been shoveled out. Drown the ants in vinegar and water or with boiling water.[7]
    5. 5
      Plug the entrance holes if you can't get to the nest. Sometimes it's difficult to access the entire nest, but you can usually find an entrance hole. You can pour boiling water into the entrance hole, but it's often just as effective to simply plug the hole. Fill it up with dirt or rocks, and sprinkle some boric acid around the site for good measure. The ants will likely relocate their nest.

    Trying Natural Deterrents

    1. 1
      Make a line that ants won't cross. There are several natural substances that ants abhor so much, they won't go near them. If you use one of these substances to create lines around your windowsills, around the perimeter of your house, and in any spots where ants are getting inside, you can keep ants from coming inside. Freshen up the lines every few days, since ants will be able to get through once the lines are broken. Here are substances that work for this purpose:[8]

      Kill Ants Without Pesticides Step 11.jpg
      • Cinnamon
      • Cayenne pepper
      • Ground orange or lemon peels
      • Coffee grounds
    2. 2
      Squirt lemon juice along outdoor edges. This will keep the inside of your house from getting sticky, but the ants will be deterred by a strong citrus smell. You can also squirt a solution of half lemon juice, half water around the outside of your house.

      Kill Ants Without Pesticides Step 10.jpg
    3. 3
      Use essential oils to keep ants away. They hate the smell of a variety of essential oils, many of which smell very pleasant to humans. Add 10 drops of essential oil to 1 cup of water, then spray the solution both indoors and outdoors to keep ants away. Here are the oils you can try:
      • Lemon oil
      • Peppermint oil
      • Eucalyptus oil (don't use this near cats! It's toxic to them, but not to dogs)
      • Lavender oil
      • Cedar oil
    4. 4
      Keep your surfaces clean so ants aren't interested in coming in. During the spring months, when ants are most likely to come inside the house, do your best to keep your floors, countertops, and cabinets spotless. This goes a long way toward keeping ants out. If they don't smell food, they won't be interested in invading your house.

    5. Keep food containers tightly sealed, too. This is especially important for sugar, honey, syrup and other foods that ants like to eat.
    6. Clean up spills right away, especially fruit juice or syrup spills.

    7. Seal your house to keep them out. If you don't give ants a door inside, they'll be more likely to stick to outdoor areas. Find all the little cracks and crevices where they could be getting in, like under the door, around the windowsills, and in other little cracks in the foundation. Fill the holes with caulk or other sealants to keep your house airtight. Spritz the areas with lavender or lemon water for good measure.

  • 04/01/2014

    Should You Require Residents to Have Renters Insurance?


    Requiring residents to carry renters insurance is one of the most valuable property management levers that you have at your disposal. Unfortunately, a recent Insurance Information Institute (III) poll indicates a major discrepancy in the number of homeowners that have insurance at 96 percent compared to an estimated 35 percent of tenants who had renters insurance in 2013.

    Apartment Management - Portland Oregon
    Inform and Empower Residents by Encouraging Renters Insurance

    We all know that most anything can occur anytime – so why is there so much tenant hesitancy to invest in renters insurance? The core of the quandary is likely lack of knowledge on behalf of the tenant, many of whom believe that the contents of their abode are covered by your property insurance policy, which, as property managers know, is not the case.

    Here are the facts. Your owner’s policy covers the structure but not renters’ possessions and, if the unit becomes uninhabitable, you aren’t responsible to provide alternate accommodations. Another simple fact is that renters insurance is actually fairly inexpensive. Arm yourself with accurate and current info, so you know how to approach potential residents about the importance of protecting their interests with proper coverage.

    The Cost of Losing Everything

    Certainly, those precious keepsakes, photos, and mementos can never truly be replaced, but a little cash replacement value can go a long way when all of a tenant’s belongings are lost due to a fire, windstorm, or other unpredictable act of nature. Furnishings, bedding, and incidentals such as medications and clothing are replaceable through renter’s policies, but coverage limitations will depend on the policy type the tenant chooses. Print up this handy Renters Insurance Checklist from the III, and offer it to new and potential tenants during the application process, because the cost of losing everything is incalculable.

    Dispelling the Myth that Renters Insurance is Expensive

    Many tenants often don’t want the hassle of one more bill, but renters insurance can be had for less than $200 per year nationwide according to estimates from the National Association of Insurance Commissioners. Discounts are available for many reasons including renters combining multiple policies, having good credit, being a senior or active military, and for having a long-term relationship with an insurer.

    As a property manager and owner, you can do your part to foster insurance discounts for yourself and your tenants by providing:

                            Security Systems
                            Smoke Detectors
                            Deadbolt Locks
                            Ample Exterior Lighting
                            Property Security

    Renters Insurance Benefits are Immediate Following a Disaster

    Renters policies also provide displaced tenants with funds to cover temporary living arrangements and associated expenses. Today, most reliable insurers can make almost immediate arrangements to offer a stipend for a hotel or temporary housing arrangements for policyholders, which can be a huge burden on any family. Without renters insurance coverage, they may be out on the streets – something many people just don’t have the foresight to consider when opting out of renters insurance.

    Legacy Property Management is the premier provider of apartment building management Portland Oregon and apartment building management Vancouver Washington. Should You Require Residents to Have Renters Insurance?


  • 03/08/2014

    Do you Appreciate your Tenants?

    As I was reading through some old blog posts, I ran across this gem. It is as true today as it was when it was written. How well do you appreciate your tenants?  it is so easy to take them for granted and just sit backhand collect the rent. The truth is that they are valuable assets to your real estate investment business  and they should be treated with respect.

    This post from PropertyManager.com sums it up perfectly. This should be required reading for every landlord at least twice a year.

    Do You Appreciate Your tenants?

    Leave me a comment. what do you think?


    Legacy Property Management is the premier provider of rental property management Portland Oregon and Vancouver WADo you Appreciate your Tenants?

  • 01/31/2014

    Is It Time To Renovate Your Rental Units? Cost Versus ROI is Only One Consideration.

    Savvy investors realize when it’s time to renovate or remodel their rental properties, but deciding what projects to do and how far to take the transformation requires thoughtful consideration. Beyond the immediate or long-term potential return on investment (ROI), there are several other reasons to renovate rental units. Below are a few:

    • Maintaining the integrity of the property with necessary repairs/replacements
    • Improvements to attract better-qualified residents
    • Amortizing costs with intent to sell
    • Tax advantages and credits

    Determining which rental property renovation projects to undertake that offer the greatest benefits will depend on whether you plan to sell or continue to rent, so let’s cover some facets of both possibilities and what renovations renters and buyers consider most essential.

    5 Desirable and Cost Effective Renovations

    Buyers and renters typically have the same wants in a home, but a few highly sought after improvements also offer a substantial ROI for investors.

    1. Thorough Cleaning – The cheapest and simplest way to boost a unit’s appeal is to clean the interior thoroughly.  Don’t forget the exterior either: consider pressure washing the exteriors.
    2. Interior and Exterior Paint – Interior paint can mask small flaws and make most surfaces look brand new again and exterior paint boosts curb appeal.
    3. Flooring – Flooring can be luxurious and cost-effective with newer laminates on the market. Choosing one that matches your desired demographic and suits your unit will likely pay off quickly.
    4. Kitchen & Bath Remodeling – According to Realtor.com, kitchen and bath remodels offer nearly an 85% ROI, making them sound investments whether renting or selling. Units can benefit substantially even with small improvements like resurfacing showers, tubs, and countertops or refinishing cabinets as opposed to complete replacement.
    5. Windows & Doors – Doors are far less expensive than windows, but are just as essential to home safety and keeping the elements out. Sagging windows and doors are just plain unattractive, and both renters and buyers are turned off.

    Call in the Pros for Renovation Advice

    Investors should consult with an expert who can evaluate their property’s current condition and make an educated estimate of what the ROI will be for each renovation under consideration. This is called a Comparative Market Analysis, or CMA, and a qualified real estate professional or appraiser can perform this analysis and offer investors estimates on their return whether selling or renting is the plan. These experts can also offer a timeframe for how long it will take to recompense the investment, and realtors can further assist investors in determining which improvements can help attract the right kind of residents or fit in with the neighborhood “vibe.”

    Things to Consider Before Renovating Rental Properties

    Remember, scaled renovations and remodeling can increase equity and help investors maintain a top-tier resident base, so don’t go overboard with projects. Remodeling costs will typically have to be depreciated, not deducted. Investors will also want to time renovations to occur during the off-season or while the unit is vacant. 

    Last, but certainly not least, renovations for rental units should be performed by a professional, not by a general handyman or through a DIY project. Subpar work is likely to only cost more money and cause additional headaches down the line, so work with experienced local contractors to assist with rental property renovations and improvements.

  • 01/27/2014

    Can Legacy Property Management help me prevent my house from going into foreclosure?

    apartment building management Portland Oregon
    Avoid Foreclosure and Keep your Investment.

    A house is one of the largest investments in most people's life, an asset worth saving and protecting. But falling behind on a mortgage payment with no means to catch up can create a catastrophic financial loss. If you find yourself in a situation where you household income cannot cover the monthly payment and associated expenses, renting your house is one solution. While the property may not generate a profit during this time, we may be to help you save your investment. In addition, when conditions improve, Legacy Property Management can help you transition back into your house.

     Legacy Property Management has successfully prevented homes from moving into foreclosure. Homeowners who were behind on their house payments were able to save their homes. In most of these situations the monthly mortgage payments were lower than what  Legacy Property Management was able to set for monthly rents. In addition, these homes offered attractive features like granite countertops, fenced backyards, hardwood floors or quality appliances. However, if a property is in need of repair or the monthly mortgage payment is higher than the amount Legacy Property Management can set for monthly rent, your situation will be evaluated & you will receive our expert recommendations.  

    If you would like to find out if your house qualifies as a temporary or long term rental as an alternative to foreclosure, please call our office immediately.  Contact Us

    Legacy Property Management is the premier provider of apartment building management Portland Oregon and apartment building management Vancouver Washington. Can Legacy Property Management help me prevent my house from going into foreclosure?

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