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Property Management Blog

Monday, September 30, 2019

Mitigate Your Landlord Liability Issues
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 illume manages for you: Tenant injuries: Landlords hav...

Monday, September 23, 2019

5 Tips for Retaining Your Best Residents
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 resident can eventually offset your cost of purchasing the pro...

Monday, September 16, 2019

How Much Should You Charge for your Rental?

Monday, September 9, 2019

Tenant Screening: It’s more complex than you might think!
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, which may or may not make the potential tenant look like a...

Monday, September 2, 2019

Making Your Property More Attractive to Baby Boomers
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 55-and-older crowd between those wanting to downsize and want...

Monday, August 19, 2019

Top 6 Amenities to make your Multi-Family Rental Property More Appealing
  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.Common areas: Tenants want to get to know their neighbors...

Thursday, August 15, 2019

Baby Boomers are Simplifying Their Life and Downsizing and This Effects their Housing Choices
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 apartment rentals by 2023.The expert property managers at ill...

Friday, May 10, 2019

Attracting Millennial Renters Requires New Tactics
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 seek simplicity and functionality across the board, complement...

Friday, May 3, 2019

Timely Maintenance Surveys Save You Time and Money
One of the biggest expenses that property owners face annually is maintaining their property. Having to fix issues that crop up over the year can take up valuable time and money that otherwise can be spent investing on your business.Performing timely maintenance surveys and fixing issues before they become major headaches can save you bo...

Monday, January 7, 2019

The Six Top Amenities you should add to your Rental Property to Make it More Attractive to Renters.
You’re thinking about making some upgrades to your multifamily rental property to enhance its marketability in the competitive Portland market.illume Property Management is up on the trends regarding which amenities provide the biggest bang for your investment buck. Here are some upgrades to consider for your multifamily complex.Bik...

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