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Portland Apartment & Home Rentals
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This page is offered
as a resource for people looking for a rental (apartment, condo, or detached
single-family home).
I DO NOT handle rentals as most Oregon realtors
only work with home buyers and home sellers. Most rental units are
managed by property managers or the property owners in the Portland metro
area.
A good place to start your search for a rentals is
Housing Connections.
It has 43,000 plus rental units in its database. Its goal is to bring
together people who need low/moderately priced or accessible housing and
property managers/owners who have places to rent or sell. Listings
are free for landlords. The site contains information on apartments,
duplexes and triplexes, condos, and single family houses for rent.
Housing Connections covers most of Multnomah County as well as some addresses
in Clark County (Vancouver), Washington County, and Clackamas County.
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Apartments Compete for Tenants
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January 2010: Portland, Vancouver Apartment Vacancies
Keep Rising
The Oregonian in their January 26, 2010 issue reported
that apartment vacancy rates will continue to rise through 2010, and the
trouble will be most acute in Clark County and Portland's downtown towers,
according to apartment brokers and appraisers. Typically, a bad housing
market drives up apartment demand.
But the job market is so lousy -- Oregon's unemployment
rate rose to 11 percent in December -- that it's pushing young people to
move back in with their parents or double up with friends. If you want your
own indicator, watch for those "Free Rent!" signs in front of apartment
complexes.
Mark D. Barry, an appraiser who publishes the Barry
Apartment Report, expects the overall vacancy rate will rise to 7 percent
or 7.5 percent by the end of 2010. That's up from about 6 percent in fall
2009. Barry said more than 3,100 luxury units will be brought on the market
between mid-2008 and late 2010 in central Portland.
That oversupply has driven rents -- once a month or two of free rent is
counted -- down by as much as 30 percent below developers' expectations.
Apartment towers that originally were supposed to generate monthly rents
of $2.50 a square foot are instead collecting $1.80. For a 1,000-square-foot
apartment, that's a drop in rent from $2,500 to $1,800.
In the metro area, the average rent on a two-bedroom, one-bathroom
apartment was $727 at the end of 2009. The rate was highest in downtown
Portland, at $1,180 and lowest in Vancouver, at $651, according to NAI Norris,
Beggs & Simpson.
May 2009: Glut of Luxury Apartments
The Portland Business Journal in their May 1, 2009
issue reported that landlords are scrambling to fill a glut of luxury apartment
units in downtown Portland. At least six projects that started as condominiums
ended up as apartments. As a result, about 1,500 new luxury apartment units
are now on the market, driving up vacancy rates and lowering rents.
Every luxury apartment building in downtown Portland is
offering concessions to lure new tenants. Discounts run as high as 18 percent.
Owners are offering free rent and parking.
The Wyatt, a 244-unit Pearl District project by developer
Bob Ball, and The Ardea, a 323-unit South Waterfront project by Gerding
Edlen Development Co., both sold to apartment operators for about $450,000
per unit, a massive price for a market where the typical apartment costs
$100,000 or less. At that level, the owners need to get about $2.50 per
square foot to justify the investment, or $3,000 a month for a 1,200-square-foot
unit, enough to pay a mortgage on most homes in the area.
Some apartment brokers believe that could spell trouble
for developers. Condos don’t necessarily make financial sense as apartments,
especially when operators are forced to cut rents to lease units.
Downtown Luxury Apartments and Monthly Rents
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Cyan $1,016. One month free rent and six months free
parking.
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The
Wyatt $1,041. Free parking and two months free rent.
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The Louisa
$1,187. One month free rent and six months free parking.
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Riva on the
Park $1,115 for a one bedroom apartment, free parking, and
up to two months free rent.
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Museum
Place $1,100. Six month free parking on a 12-month lease.
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Presidential Court $679. Five percent discount on rent
with 12-month lease.
The rents prices above are for a one-bedroom apartment
for a 12-month lease.
The
2121 Belmont on
the eastside is offering free parking and one month free rent at a monthly
rate of $1,168.
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Rent or Buy? Map it to Find Out!
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 In
these uncertain times, people weighing rent vs. buy may find help with heat
maps on HotPads.
Visitors can create customized, color-coded state and city data maps ranging
from population density to per-capita income to median rents.
One of the most useful heat maps is the rent ratio, which
is an area's median home price divided by the median annual rent. The lower
the number -- and the bluer the color on the map -- the better to buy. The
higher the number -- and the redder the color -- the better to rent. Green
and yellow are in between the extremes.
To see how the nation's housing bubble affects your area,
HotPads offers what it says are the first interactive maps of the crisis.
In the Portland area, foreclosure heat maps color the city mostly blue or
green, indicating it has mostly escaped the bubble. Newberg, in contrast,
is nearly red, indicating a high foreclosure rate.
Heat maps are just one of HotPads' features. Mostly, the
site maps the locations of houses and apartments for sale or rent.
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Referral Services
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Apartments.com
The national site that offers apartments in most USA metro areas including
Portland. You have to complete a number of parameters (e.g., size,
rent price, location, etc.) before you can obtain any listings.
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The Apartment
Finder Magazine with with a Web site that offers interactive
maps, virtual tours, and a map-based keyword search tool.
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The Apartment
Guide You can search by cities within Oregon as well as by
zip code.
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Craig's List
National site that posts lists (e.g., services, for sale items, events,
etc.) in major metro areas in U.S.A. Usually has over 400 rentals
in the Portland Metro area.
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For Rent Magazine The glossy national "apartment guide" you
see at the supermarkets. You can view ads online. Most of the
rentals are for larger complexes in the suburbs with only a few in the
older Portland neighborhoods.
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Green Rentals
GreenRenter™ is an online directory of "green" or environmentally conscious
commercial and residential rental property. GreenRenter™ helps renters
find properties that meet their environmental requirements. Property
owners with green features can create a building profile. It's fast
and free.
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House for Rent
You can search by community or county for homes for rent in Oregon.
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NW Rental Service
NW Rental Service is an apartment finding service for the NW neighborhood
of Portland, Oregon. They offer a finder's fee based search
to help you find a rental in Northwest Portland.
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ProRent
is a nationwide company using a local apartment locator. Their
offer their services FREE OF CHARGE to the renter. You have to
complete a long form (e.g., number of bedrooms, price, etc.) before
ProRent will provide you rental listings.
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Rental Data
They offer a service that matches renters with landlords based
on their area, bedrooms, price, dwelling type and pet preference.
Over 4,000 listing in the Portland metro area.
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Smoke
Free Rentals The Portland-Vancouver Metro Area Smokefree Housing
Campaign is working with landlords and property managers to encourage
them to adopt no-smoking rules for their buildings. This Web site
will answer frequently asked questions, show you how to make quick fixes,
how to talk to your landlord, describe your rights, and help you find
non-smoking housing.
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Extended Stay Apartments
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A&G Rental
Management A&G has a number of units in the downtown
area for short-term and long-term rental. One of the buildings
is the Harrison Condos which is an ideal location (just south of downtown
between 1st and 2nd Avenues on SW Harrison) with the streetcar line
running in front of the three buildings. Telephone (503) 241-0676.
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Bridgestreet Worldwide
A corporate housing and furnished apartments company with properties
in the US and all around the world. In addition to apartments
in the Portland area, Bridgestreet also represents the Kearney Plaza
and the Burlington Tower in the Pearl neighborhood.
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Execustay 222
S.W. Harrison, Suite G02, Portland, OR 97201. Telephone (503) 499-6625
or (206) 889-0866. Fax (503) 499-6626. Execustay,
a division of Marriott Hotels, has six locations in the Portland metro
area.
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Oakwood
Oakwood is the world's largest rental housing solution company, providing
high-quality, furnished and unfurnished accommodations throughout North
and South America, the United Kingdom, Europe and Asia. It has
over 700 units for rent in the Portland metro area - many are in downtown.
Call Mark Holland at (503) 582-9229.
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Portland Hawthorne Guesthouse There are four guestrooms.
Rooms are furnished and carpeted. Linens and towels are included. Each
room has a full-size bed, a desk with a chair, a closet and a television
set with a DVD player and 70 channels of cable TV. High-speed wireless
Internet access is included. The Guesthouse is located at 1235
SE Salmon Street which is just 5-7 minutes from downtown.
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Relocation
Coordinators 7244 S.W. Durham, Suite 100, Portland, OR 97224.
Telephone (503) 684-5355.
Fax (503) 684-6177.
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U.S. Suites, Inc. 10220 S.W. Nimbus, Suite K-7, Portland,
OR 97223. Telephone (503) 443-2033 or (800) 877-8483. Fax (503) 620-8593.
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Property Managers
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American Property
Management 2154 N.E. Broadway. Telephone (503) 281-7779.
APM offers free apartment information and has more than 300 complexes
to choose from. They cover a wide range of neighborhoods in the metro
area.
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Bluestone
& Hockley (800) 859-8043 or 503) 222-3800. Office
is at 3835 SW Kelly Avenue, Portland, OR 97239-4312. Over 30
years in business and over 1800 residential and commercial management
units.
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Gearin
Properties Located in Beaverton. Telephone (503) 626-7544.
Home rentals on the west side (SW Portland, Beaverton, Hillsboro, Tigard).
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College
Housing Northwest CHNW is a 501 (C) (3) private, non-profit
corporation headquartered in Portland, Oregon. CHNW provides an educational
living environment for students, faculty and staff of PSU and other
institutions of higher education.
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Portland Chapter
- NARPM This site is maintained by the Portland Chapter of
the National Association of Residential Property Managers. The Greater
Portland Chapter represents the management of over 19 property management
firms managing over 5,000 housing units in the tri-county area.
Free searches for rentals are offered at their Web site.
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Dwell Management
This Portland rental services manages rental properties in and around
Portland, Oregon. Rental properties include single bedroom apartments,
rowhouses, and large homes. Dwell Management is pet friendly in all
of their rental properties. They also manage rental office space.
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The
Management Group (TMG), founded in 1985, is a full service
management company for residential and commercial properties, including
single family homes, apartment communities, office and retail property.
They service the Vancouver, Washington and Portland, Oregon metro areas.
You can search for apartments online at their site.
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Performance
Properties Located in 1637 Laurel Street, Lake Oswego,
OR 97034. Telephone: (503)635-0099. Their
tenant screen criteria (credit reports, criminal, civil, rental
& employment history) helps finding qualified tenants who will pay
rent on time and respect your property.
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Downtown Apartments and Condos
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 Association
for Portland Progress Responsible for promoting downtown living
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rentals. 520 SW Yamhill Street, Suite 1000 Portland, OR 97204.
Telephone (503) 224-8684. Fax (503) 323-9186.
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Mark Spencer
A downtown hotel that offers reduced rates for long-term stays. All
rooms feature fully equipped kitchens for convenient in-room dining.
Walk out the front door of the Mark Spencer and you're on the Portland
Streetcar line.
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Pearl District Lofts and Condos
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The three buildings below rent lofts in the pearl
district:
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Kearny
Plazaza has 131 rental units and is located at 931 NW 11th Avenue,
Portland, Oregon 97209. They charge $825 a month for a
studio apartment to $1,800 a month for a two-bedroom. Telephone
(503) 227-5624. Email:
kearnyplaza@tcresidential.com
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Everett Street Lofts has 47 rental units in
the Pearl. The building is located at 625 NW Everett Street.
Telephone (503) 222-3425.
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Honeyman Lofts has 89 rental units in the Pearl
and prices range from $750 to $2,500 per month for a penthouse loft.
Honeyman offers one or two-level units and is located at 555 NW Park
Avenue. Telephone (503) 294-0478.
Portland Lofts
is a source for finding a rental loft. It has listings of properties
for sale along with a rare rental. The site has photo links to some
of the loft buildings so you can get a "rough idea" of the building from
the exterior. Some floor plans are also available online.
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Pearl District Apartments
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10@Hoyt Atlanta-based Trammell Crow Residential,
in partnership with Vancouver-based C.E. John Company, was the first to
build apartments in the Pearl in 2003.
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Size: 550 to 1,000 square feet.
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Features: Durable light-gauge steel construction,
business center and fitness center.
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Contact information: (503) 283-5365.
The Lexis Hoyt Street Properties, one of the
original developers of the Pearl District, built a six story structure in
2004. It includes one retail floor and will have 139 units.
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Size: 500 to 1,450 square feet.
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Features: Metal exterior, elevated courtyard
to face coming North Park Square, business center, and fitness center.
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Contact information: (503) 227-6677.
Burlington Tower Prendergast and Associates
constructed a 155 unit, 10-story building in 2004.
It includes one retail floor. See their Web site for more information
at www.pearlblock.com.
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Size: 600 to 2,200 square feet.
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Features: Across from Jamison Square Park, good
views, library, and fitness center.
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Contact information:
info@pearlblock.com
South Pearl Gerding/Edlen Development got
into the apartment business with this 250 unit, 16-story building located
in the Brewery Blocks in 2005. It includes one retail floor.
Gerding/Edlen developed The Henry, a high-rise condo in the Pearl that is
also located in the Brewery Blocks. Read an overview of the
Brewery Blocks.
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Size: 625 to 1,506 square feet
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Features: This tall Pearl District apartment
building offers some excellent views.
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Contact information: (503) 525-4995.
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Northwest District/Nob Hill Apartments
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Best Portland Rentals has numerous multi-family building in Northwest
District (Nob Hill) as well as one unit in Johns Landing. Address:
PO Box 10559 Portland, OR 97296-0559. Telephone: (503) 274-4066.
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Park 19 The
building opened in the summer of 2009 and they are located on NW 19th
at Hoyt/Glisan.
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Pet Friendly Rentals
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Craigs List You can search for apartments in
the Portland
metro area that allow dogs and cats.
Oregon Humane Society The OHS Web site has a link to "Pet-friendly
rental properties in the Portland, OR area." The listings includes
the name of the rental, address, telephone number, map, and the type of
pets allows.
Portland Pooch The Web site has a list of apartments (over
300) in the metro area that welcome pets. It also a resource for
other pet related items such as hotels/motels that accept pets, boarding
of pets, training, vets, etc.
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Search the Newspapers Online
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OregonLive
This sites is affiliated with The Oregonian (state's largest newspaper).
You can search for all types of rentals.
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Portland Tribune Portland's free publication is on the
newsstands every Tuesday and Thursday. They have a few rental properties
listed.
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Willamette
Weekly Alternative tabloid-style newspaper published weekly.
They have a rental search capability on their Web site.
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Apartment Ratings
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ApartmentRatings.com
exists to help renters share their renting experiences and give apartment
hunters the information necessary to make an informed renting decision.
You can search by city or Zip Code. Opinions from renters (and previous
renters) are offered as well as pricing reports.
The site gives an overall score (percentage of people recommending
the building) and ratings are based on the following with scores for each
(1 - 5 with one being the lowest) item:
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Parking
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Maintenance
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Construction
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Noise
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Grounds
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Safety
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Housing Connections: Search the Web
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Housing Connections
has 43,000 plus rental units in its database. Its goal is to bring
together people who need low/moderately priced or accessible housing and
property managers/owners who have places to rent or sell. Listings
are free for landlords.
The site contains information on apartments, duplexes and
triplexes, condos, and single family houses for rent. Housing Connections
covers most of Multnomah County as well as some addresses in Clark County
(Vancouver), Washington County, and Clackamas County.
The Web site is the result of two years of work led by
the Portland Bureau of Housing and Community Development. It contains
information on some 19,000 rental units and many of these are publicly subsidized.
Many of the units do not have income eligibility requirements. For
those that do, the site provides an
Affordability Calculator to help you determine your eligibility.
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Oregon Housing and Community Services
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Oregon Housing and
Community Services (OHCS) is the State of Oregon's housing finance
agency, providing financial and program support to create and preserve opportunities
for quality, affordable housing for Oregonians of lower and moderate income.
OHCS also administers federal and state antipoverty, homeless and energy
assistance, and community service programs.
The
Consolidated Funding Cycle (CFC) application is an open, competitive
process to efficiently distribute limited grant and tax credit funds for
affordable, multi-unit, rental housing development.
Applications are accepted twice a year, during the
Spring and Fall cycles.
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