Blog

Keep your rental property in its best shape with these 4 tips

By Erlin Taylor Monday, February 24, 2020

A rental property is a great investment because it both appreciates in value and generates monthly revenue. However, that’s not to say that owning a rental property isn’t a lot of work. Without the right maintenance and upkeep, you’ll find that repair costs eat ...

Here are the 5 most cost-effective ways to increase your rental’s value

By Erlin Taylor Monday, February 10, 2020

If you own a rental property, you should take a serious look at investing in it this year. By putting some of your revenue back into the property, you can both boost its value and make it more attractive to prospective renters at a higher rent. In this article, we’ll discus...

Mitigate Your Landlord Liability Issues

By Erlin Taylor Monday, September 30, 2019

Landlord liability issues come with the territory of property ownership. We at illume Property Management stay up to date with real estate and rental law to minimize your risks so that you can concentrate on reaping the rewards. Here are some common landlord liability issues that...

5 Tips for Retaining Your Best Residents

By Erlin Taylor Monday, September 23, 2019

Resident retention is an important component of successful property management. The cost of replacing quality residents can run up to five times (or more) the cost of keeping them – think advertising, cleaning, and lost revenue from an empty unit – and a long-time re...

How Much Should You Charge for your Rental?

By Erlin Taylor Monday, September 16, 2019

Tenant Screening: It’s more complex than you might think!

By Erlin Taylor Monday, September 9, 2019

There are a multitude of tenant screening services to choose from with varying levels of accuracy. Some tout “Instant Credit Reports” which can provide you with “false positives”. For example, information on an entirely different person with the same name...

Making Your Property More Attractive to Baby Boomers

By Erlin Taylor Monday, September 2, 2019

One of the latest trends that illume Property Management has tracked is the growing need for properties to attract the Baby Boomer generation, which accounted for 58.6% of the net increase in renter households from 2006-2016. A Trulia study showed nearly an even split among the 5...

Top 6 Amenities to make your Multi-Family Rental Property More Appealing

By Erlin Taylor Monday, August 19, 2019

The Portland rental market is very competitive – adding some amenities will go a long way to enhancing your property’s marketability:Bike storage: Cater to tenants who are part of the bicycle revolution by providing bike stations for parking and storage.Co...

Baby Boomers are Simplifying Their Life and Downsizing and This Effects their Housing Choices

By Erlin Taylor Thursday, August 15, 2019

One of the most recent trends in multi-family rental property management sees couples downsizing from their family home. For example, the National Multifamily Housing Council recently released a report indicating that baby boomers will be responsible for 60% of the increase in a...

Attracting Millennial Renters Requires New Tactics

By Erlin Taylor Friday, May 10, 2019

Appealing to millennial renters’ tastes challenges even the best property managers. Needless to say, the old method of staging, designing, or promoting your property no longer works with this unique demographic.More and more, illume Property Management finds that renters se...