Salem vs Nearby Cities
Salem is located toward the northwestern corner of Oregon and offers more reasonable home prices than you will find 40 miles north in Portland. While the median listing price in Portland often spikes over $400,000, the median listing price in Salem tends to stay much closer to $300,000. It’s common for buyers to pay around $150 or less per square foot in Salem, but that figure jumps to a median of $300 in Portland. Most cities within 20 miles of Salem have median listing prices under $300,000, including Keizer, Albany and Stayton.
Salem Property Managers
An experienced property manager will protect your investment while limiting your liability. They have established processes to efficiently manage the day-to-day operations of the property while covering advertising, accounting, taxes and necessary property maintenance and repairs. Most managers handle all interactions with tenants, allowing the property owner to profit without stress.
Salem Property Management Company Fees
A property manager in Salem may charge an average of 10 percent of the rent collected each month. This price may go lower or higher, depending on the services requested and the amount of time that the manager will spend working with the property. Some managers charge a flat percentage for all clients, adding fees for additional services.
Oregon Landlord/Tenant Laws
- When a landlord fails to make necessary repairs to a rental unit, the tenant has the right to pay for the repair themselves and deduct the expense from their rental payment.
- Oregon landlords must give tenants three days to pay overdue rent before filing for eviction.