Coldwell Banker Bain Rental Resources
Rental Market – Greater Portland & Vancouver Metro Areas
Vacancy Rates Will Hold Steady With a strong rental market in 2020, we can also expect vacancy rates to hold steady as well at close to 2.3% for the year, reflecting the national average. As in previous years, we’re continuing to see people renting from all generations including Millennials, to Baby Boomers, due to their economic responsibilities and the overall desirability that renting vs. home ownership so rental inventory remains tight.
Sample 3 Bed House
Sample 2 Bed Townhouse
Sample 2 or 1 Bed Apartment
Sample 2 or 1 Bed Apartment
Securing a Rental
Real Estate Agents, unlike in other parts of the country, are not the predominant listing resource when it comes to home, condo and townhome rentals. Private owners as well as property management companies manage the majority of rentals. Many property management companies only show the listings within their own company. Potential renters are looking at a competitive rental market which requires specialized knowledge of where to look for privately owned listings and an understanding of how to navigate the many property management companies that service this area.
If an individual would like to get settled to the area quickly, Coldwell Banker Bain's local rental specialist partners are available for a half or full day fee based rental tour. The rental specialist has established relationships with privately owned properties, and has access to keys for 60+ property management companies. This will allow an individual to view all listings available on the market that fit their needs.
Some added benefits to consider when working with a paid rental service
Full picture of the rental market and what is available to find the best suited rental in a shorter amount of time
Included area tour of the new city (school districts, hobbies, driving and public transit stats, amenities, etc.)
Less time in temporary housing by finding a rental property pre-move or upon arrival
Less time spent away from work and personal life to look for a rental by securing an option in a single day
Other Things To Consider About Rentals
Utility costs are separate for all dwellings, with the exception of condos – you may have some utilities included as well as parking.
Parking is typically $150/month in the city, street parking with a yearly paid pass or free in the suburbs.
All rentals will have an additional pet deposit, only apartments will do monthly pet fees.
Deposits are typically equivalent to first month’s rent for privately managed/owned dwellings.
Apartments can require deposits as low as $99 on good credit.
To break a lease you typically pay an additional 6 weeks of rent and you may still get your deposit(s) back less cleaning fees.