News and Opinion from Sisters, Oregon
News and Opinion from Sisters, Oregon
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Dear Property Guy: We recently moved out of an apartment and the management company charged us over $500 for holes in the walls. Which not only seems unfair, but totally unreasonable for the work that was done. We had a few pictures and a TV up on the wall. All of which I consider normal. How should this all work. — Nailed in Sisters Dear Nailed: Here’s a dirty little secret about some, but not all, property management companies. Repairs are a profit center. There, I said it. Separate conversation. You are asking the million-... Full story
Dear Property Guy: I recently had a tenant move out and need to know how to handle their security deposit. We had brand new carpet when they moved in, and their dog absolutely trashed it. We tried to clean it, but the stink is impossible to get out. They need to buy us new carpet, right? – Wall to Wall Dear Wall to Wall: This falls under the category of No-But… No, they won’t be buying you all new carpet. But, they will be buying some of it. Let’s agree that this falls outside the category of “normal wear and tear,” an... Full story
This is part 2 of an ongoing series on the subject of short-term rentals. Part 1 ran in the January 17 edition of The Nugget. Click here to see Part 1. Last time we learned what a Short-Term Rental (STR) is and the local rules surrounding them. Now we’ll take a closer look at some of the concerns surrounding STRs and how they are or are not being addressed. Nationally, most controversy centers around how STRs do or don’t affect housing affordability or property values. The thought being that STRs reduce supply for res... Full story
Sisters is a town that means different things to different people: the (slightly larger) small town they grew up in, an opportunity to live where one plays, maybe a place to spend California retirement bucks, for many it’s where they do business, and for others it is a vacation destination. Smashing all these different visions, wants, hopes, and dreams into one community is bound to create spots of friction. Short-Term Rentals (STRs) are one of these spots. Many Sisters residents are happily tripping through life not k... Full story
Dear Property Guy: I am about to sell a rental home in So. Cal. It is worth about $1.2M and has appreciated about $600,000. It used to be my primary residence but has been a rental for a couple years now. I don’t want to take the huge tax hit by selling it, but I understand that I could sell it for another rental property and not owe taxes. I could use it to take out a couple hundred thousand to reduce the payment on our current house. What should I do? — Taxed out… Dear Taxed: You have a lot going on here. And many optio... Full story
After some time off, we’re back with our usual Q&A about rental properties and housing. But first, let’s start with a look at some major market trends. 2024 is shaping up to be a different sort of real estate season in Sisters. After several years of bidding wars, new Covid-fueled residents, cheap money, and massive price increases, things are finally settling down. Let’s take a look at a few trends driving the local real estate market. 1. End of the ZoomTown BoomTown This cute phrase was coined to describe quaint, quiet... Full story
Dear Property Guy: I am purchasing a house in Bend as an investment property. There is currently a tenant in the house. The rent is fair and the tenant is a good one, so we’d like them to stay. How do the rent, security deposit, and lease transfer with the new ownership? — Bendvestor Dear Bend: Clever name… Anyway, yours is an interesting, though by no means unique, case. And like most things in real estate, there is a quick and easy form for that. Few things first, I’m glad you were able to pick up a house at... Full story
Dear Property Guy: What is happening in Central Oregon? I have lived here all my life and have been renting a long time. It’s basically impossible to find a rental. Did I miss something? — Bend Local Dear Local: It’s not your imagination. You are right now experiencing the reality of some pretty big social shifts. People are leaving big cities for places like Bend. Other cool cities like Boise, Laramie, and South Jordan are experiencing the same thing. The result is locals getting pushed out by new arrivals, rising pric... Full story
Well, 2020 has been a crazy year for everybody. Definitely not what we expected. Despite the state-inflicted suffering among local businesses, the Central Oregon real-estate market continued its upward climb. Please allow me to share with you three conversations that are going to characterize 2021. The conversations are real, but the names have been changed to protect the innocent. Words are my side of the conversation only: No. 1 Material Shortages and Higher Prices Bruce! It’s me. Got a couple home builds going on and I n... Full story
Dear Property Guy, I live in downtown Sisters and recently cut down some sick trees near my house. A neighbor advised that I needed a permit to cut trees. I told her to get off my lawn and to mind her own business, but now I’m curious what the real deal is. — Sisters Lumberjack Dear Jack: Property Guy is happy to help with your trees, but has nothing to offer as far as your neighbor goes. This question is so far out of Property Guy’s world, I had to go to my local expert. I contacted my friend, Sisters City Manager Cor... Full story
Local Sisters’ business T&M?Hauling started quite by accident when co-owner Thys (rhymes with peace) Kuitert was attending a residents meeting in Tollgate early this year. He clearly heard the need for pine needle removal services for both homes and common areas. Having recently relocated to Sisters from the valley, Thys wasn’t looking to start a new business, but his history as general manager for Junk King started the wheels turning. For those who are unfamiliar, app... Full story
We once again interrupt our regularly scheduled Dear Property Guy fun to take some time to assess what’s going on in the real estate world. Last time we looked at how the economic shutdown is affecting members of our community as both renters and property owners. Since then we’ve added riots to the mix as well. So let’s take some time to address the questions blowing up my inbox: “What’s going on?” and “When will this madness be over?” To those questions, I have no answers, but let’s talk about some definite real est... Full story
Dear Property Guy, I just moved out of a rental I lived in for several years. The Formica countertops had some cuts and burns (my fault) in it when I returned the house. The landlord wants to charge me for a whole new countertop even though the thing was pretty beat down when I moved in. — Deposited Dear Deposited, Great question. A slight twist on the old “Wear and Tear” vs. “Damages” discussion. This is one of those areas that can turn into a huge hassle and get nasty and expensive. Or it can go relatively smooth... Full story
Dear Central Oregon: I’d like to interrupt our normal format to provide some information and thoughts during the coronavirus shutdown. Let me start by saying that everything, and I do mean everything, is very fluid right now. And anybody who says they know what is happening (including me) is wrong. I also want to recognize the very human and very real suffering that is occurring right now in our community. Not just the people who are sick. But the people who are scared, people who are unemployed, families who are worried a... Full story
Dear Property Guy, I have a “no-pets“ policy in my rental. I have a new tenant who just announced that her emotional support dog would be joining her. She also showed me some paperwork that said I had to take it. What’s the deal here? — No. Just no. Dear No: Welcome to the glamorous world of being a rental owner. Because your property just became a dog-friendly zone. Before we get started, please know that it could be worse. In addition to dogs: cats, goats, horses, rabbits, snakes, pigs, and hedgehogs can all be emoti... Full story
Dear Property Guy- I have a prospective renter who is absolutely perfect. Great credit, great references, steady job. Wants to move in now. Everything’s great. And she has a pit bull. We generally allow dogs, but pit bulls concern me. What do you think? — Likes Dog, But… Dear Dogs: As with most things in property management, the short answer is, “It depends.” For things like this, I like to let the insurance guys make the call. Or I at least start the conversation there. Some insurance agencies won’t insure... Full story
Dear Property Guy- We live in downtown Sisters in a cool little house. We love living here, but just need a break during some of the big tourist events. We’re thinking of putting our house on AirBnB for a few weeks out of the year. What do I need to know? — Tourist Trapped Dear Trapped: Property Guy loves the whole AirBnB/VRBO concept. It can be a great way to make a few extra bucks and meet new people. There are about a million different ways to handle a Short Term Rental (STR). From renting a single room to renting t... Full story
Dear Property Guy: I’m trying to move to Sisters. I just need a little apartment for me and my dog. Can you help me find anything? I need to be under a thousand. — Ashland Dear Ashland: There’s a serious rental squeeze in Sisters, whether one is looking for a house or apartment. I am seeing exactly zero that meets your immediate needs. Perhaps checking a roommate situation is an option. Craigslist, rent.com, Sisters Swap, Zillow, as well as the fine newspaper you now hold in your hands are the best traditional res... Full story
Dear Property Guy, I’ve had a timeshare for almost 20 years. When the kids were younger, and I was travelling more, it was fun. But now, it’s just an expensive hassle. The maintenance and annual fees are killing me. I just want to be done with it. — Timeshared in Tumalo Dear Timeshared: Property Guy has a few rules for clients and friends: First, we don’t sell, we BUY property in Oregon. Second, we NEVER buy timeshares. We’ll go over the other rules in a different column… Timeshares can be structured a few way... Full story
Dear Property Guy: With all the people moving here, and not enough new construction, Central Oregon property looks to be a solid investment. Especially with the stock market where it is. I am looking at buying a rental house in Bend or Redmond. How much will I need to put down to get into this, and for it to cash flow for me? — Bend Investor Dear BendVestor : The short answer is: It depends. Achieving positive cash flow depends on a number of factors, but let’s looks at some very general assumptions. First, let’s define... Full story
Dear Property Guy- I’m looking at investment property in a subdivision with a homeowners association (HOA). A friend recently bought a home in the same subdivision and (the) lender required a review of HOA documents. These documents turned out to be in a significant state of disarray, which delayed the closing process. Should this concern me? How big of a red flag is it when the HOA won’t provide financials? Could poor HOA management impact the value of the property? If I buy in this community am I on the hook for their poo... Full story
Dear Property Guy: My husband and I are getting an amicable divorce. No attorney. We have two houses, which are the problem. One house is our primary residence, his parents live rent-free in the other. The intent is for him to cash me out of the primary residence so our daughter and I can continue to live there. But he can’t afford to do that with the house that his parents are in. I adore his parents, and we’d like to keep the other house together so his parents can continue to live there. When they move, we would split the... Full story
