Thanks to some handy advice from @Ronald Perich I found an off-market multi in NE Portland and approached the owner. Somehow we managed to convince her to sell and we are now the owners of a charming duplex.
We are in the process of getting the property ready for renters, and could use some recommendations for a RE Attorney who can help us get our forms (application & lease agreement) in shape. Our previous rental properties were in California, and we were very careful with our forms there, so....I want to make sure we do everything right for Portland/Oregon as well. Thanks!
@Marcia Maynard Thanks for the rec. We don't plan to move to Oregon, although my husband grew up there. We live in No California and wanted to invest in Oregon.
Congrats on finding a property off market! That’s quite the feat in Portland. I’ve used rocketlawyer.com for my lease agreements and really like it, because the contract is much more inclusive than what you will find in the Rental Housing Alliance. As for rental application, the Rental Housing Alliance is great.
If your property was built pre-1978, you will want to give the tenants the Lea Based Paint Disclosure Pamphlet. I generally give my tenants a copy, and have them initial a second copy that I keep in my files. Additionally, if you haven’t been a landlord in Portland before, you will want to consider having your tenants sign a Ventilation, Mold and Mildew Addendum with the lease agreement.
I have 10 rentals in Portland and have used the Rental Housing Alliance for years. Their documents are written by local lawyers and are comprehensive enough for most landlords. If you call them they can provide you a "starter pack" of forms that contain all the major docs you will need including the application, rental agreement, lead paint, mold and mildew, etc. They are great about answering questions as well. I've not looked at the Rocketlawyer doc Nate mentioned but I will do that soon to compare. Good luck!
@Dan King @Nate Lindquist Thanks for your tips, and my apologies for the delayed thanks....I've been busy processing my first applicant and now tenant. We actually found a RE attorney who helped us our lease agreement and it was interesting to learn about the parts that are more specific to Portland (mold, mildew, etc....oh and now medical marijuana!) But, I will definitely check out both Rental Housing Alliance and Rocketlawyer for our next go around!
@Dawn Aotani : Just checking in to see if you could recommend a good Attorney that specializes in Real Estate Transactions.
Of course, I'd appreciate any tips and advise from you all .
@Siddharth Shastri --- I'm not sure if she is what you need but check out Kate Brooke, She was recommended to me by another investor/landlord in the area. She handles more complex RE transactions than what I needed this summer, which was reworking my lease agreements etc. Kate Brooke actually ended up recommending Kevin Parks to me, who wrote/customized our lease agreements. Kevin is very knowledgeable about tenants, evictions, etc. I liked that he represents both tenants and landlords. Send me a private message for their contact information.
@Dawn Aotani : Thank you so much for the inputs. I was looking at a 4-plex earlier and the deal fell through. So now i'm back to hunting for leads again :) Will send you a PM as soon as I have something churning in the mill ...
@Dawn Aotani I have a property management company check out MJP Management online and PM me if you want to chat. Congrats on the deal!
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