Selling Your Rental House In Portland, Oregon.

Tied Hands.

Literally, landlords have their hands tied to take control of their rental properties. The Eviction moratorium regulations, plus their lack of income as a result of the COVID-19 crisis, have pushed them to the disaster’s brink.

Hundreds of small landlords are feeling their rental property’s full financial burden.  Unemployed tenants who cannot pay rent, mortgages, taxes, and maintenance obligations to be met are the ingredients for the perfect recipe for losing a rental house.

Though the CARES act temporarily prevents homeowners with home loans federally-backed from foreclosure, at least for 12 months, It does not provide a practical and radical solution to small landlords that can do nothing to regain control of their properties with tenants that can’t pay rent. In the worst position are those small landlords with conventional (non-backed) mortgage loans.

Lender’s Actions.

Lenders count on cash as their business tool. If they don’t collect the loan money, they wouldn’t be able to make more money. The crisis and the measures taken by the federal and local authorities have impeded them from earning money. 

According to the Black Knight statistics, by the end of September 2020, 3.6 million loans remain in COVID-19 related forbearance plans.

267K currently remain past due on their mortgage but are in an active loss

mitigation status, suggesting they are working with their servicer to get back to a

current status.

Just 54K loans are past due and not in active loss mitigation, and 70% of these

were already delinquent in February before the pandemic began to impact mortgage


Some banks and lenders are working closely with homeowners on different mortgage forbearance repayment options. However, at Better Off Home Buyers, we have received notification of an unaccounted number of homeowners and small landlords misinformed by their loan servicers. The confusing information led dozens of homeowners to a profound inability to make their mortgage payments on time.

Also, we learned about some cases where banks have put current mortgage loans into forbearance plans without the borrower’s approval. Others have reported, although they have signed for a forbearance plan, they were noticed on default by their loan servicers.

My tenants stopped paying! what can I do?

We are getting this question almost every single day from multi-family unit owners and small landlords. The rent has been deferred, the eviction process has stopped. There is a lot of confusion out there. So, landlords ask, 

“What can I do right now?”

Better Off Home Buyers contacted experienced attorneys on the matter to have an answer to this question.

  • Last September 28, 2020, Governor Brown signed a second Executive order related to the eviction moratorium for residential tenancies. It prohibits landlords from issuing termination notices due to nonpayment, and most terminations without cause until December 31, 2020. 
  • Tenants will have until March 31, 2021, to repay any rents or other charges accrued from April 1 – September 30, 2020.
  • Rents or other charges accrued from October 1, 2020 – January 8, 2021, may be deferred for Multnomah County residents under county ordinance.
  • All rents and charges that accrued during the effective dates of Executive Order 20-13 and the emergency period of HB 4213 (April 1 – September 30, 2020) can qualify to be deferred.
  • Tenants can notify their landlord by mail or via email of the intent to use the six-month repayment period by the date stated.

Nothing in the moratorium relieves the tenants of liability for unpaid rent.  However, a landlord is not permitted to seek eviction for non-payment of rent during the emergency period. During the emergency period, a landlord may provide a written notice to a tenant stating that the tenant continues to owe any rent due.

The Oregon Legislature also passed HB 4204  to provide protections for mortgage holders. 

“In essence, HB 4204 does not protect Landlords.” 

Was the crude answer given to us by a lawyer when we asked if also, HB 4204 protects landlords?

Can I Sell My Rental House With Tenants?

You can sell your rental house with tenants, either they are current on payments or not.

If your tenants had stopped paying rent because of the Coronavirus hardship, legally, you can sell the property.

It doesn’t matter if your rental property is under a mortgage forbearance plan. Still, you can sell it. Due to the low interest in the money market, Houses in Portland have been selling in a very short time. However, selling a rental house with tenants is a really difficult task during this pandemic. 

If as a small landlord, you have a rental-property forbearance mortgage, hardship Coronavirus suffered tenants, low personal income, and you don’t see how to resolve the rental-house situation. Contact us. Better Off Home Buyers will work with you in your best interest in selling your rental property.

It is possible that after the eviction moratorium and mortgage forbearance dates got lifted, many people, tenants, and landlords as well, would be unable to pay the missed months. The actual health reports inform of a high number of new COVID-19 related cases, which will make a more belated return to normal.

Selling your rental property gives you the option to get your invested money back and stop a problem that can turn into a terrible headache.

The other day we had a conversation with a very concerned landlord. He wondered what would happen if, after January 8, 2021, his tenants tell him they can not pay the accrued rent so the actual as well.

In this particular case, our client was facing two harm situations. On one side, he got a forbearance mortgage plan on his rental house, on the other hand, he has coronavirus hardship tenants and not enough income at all.

The obvious solution if the water is getting up to the neck is selling that painful rental property. 

What Is The Cost of Selling My Rental House?

Serenity is priceless! In money terms selling your problem rental property costs you a lot less than keeping it.

If the COVID-19 related difficulties include, unemployed tenants, struggling to survive. Your situation as an independent landlord could be worse. The average rental price for a single-family 3 bedroom house in Portland is 2,200 Dollars. Let’s do this brief analysis

Tenants stopped rent payments in April 2020.

From April to December 2020   9 months ——————————-$  19,800

9 months  house maintenance  average $120/month                    $    1,080

Post CARES Act – Eviction process                                               $    3,500

90 days waiting for the eviction judgment                                      $     6,600

Potential foreclosure – penalties and Interest                                 $    2,400

Rental house cleaning & maintenance after tenants                      $       810

Painting                                                                                           $    4,450


                                                                                    Total             $   38,640

The above numbers are not including taxes, major repairs in case needed, carpet replacement, etc. Easily, the cost to recondition a rental house for rent could raise $50,000 or 60,000 dollars. In this calculation, we are supposing the tenants move out, and the property remains in good condition. We have seen rental properties after tenants, so damaged, that was way more money necessary to recover them.   

Selling your house to a professional home buying company like Better Off Home Buyers will save you money and time. The peace of mind doesn’t have a price and the COVID-19 crisis is taking people from the tranquility.

Carrying out the burden of a rental house with tenants during the coronavirus hardship has been one of the most difficult moments for small landlords. No doubt about it.

The other test that waits for small landlords is the end of the forbearance plans. Although, the banks have designed mortgage forbearance repayment programs. The homeowners’ fate is uncertain. Loud and whispered rumors talk about unpredictable changes on lenders’ policies to be individually applied to each mortgage loan.


Selling your rental house with tenants in Portland will save you time and a lot of money.

There are thousands of good tenants out there that are dealing with an out of control situation. Many people struggle day by day to meet their basic obligations. The government and the health authorities are indeed working to prevent the continuation of the pandemic spreading.

The small, independents, mom, and pop landlords are getting the beating caused by the crisis. At the end of their forbearance periods, they could be confronting the ugliest economic situation they ever imagined.

Selling an overburdened property before extensive damage may be unbearable is the way out.  

We Better Off Home Buyers will help you. Contact us. Please fill the form on this page, or dial directly (503) 212-9641.

Tambien Hablamos Español.

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

What Do You Have To Lose? Get Started Now...

We buy houses in ANY CONDITION in OR. There are no commissions or fees and no obligation whatsoever. Start below by giving us a bit of information about your property or call 503-809-4855...
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *