Wednesday, September 14, 2016

Commercial Property Resource’s Rental Policy Ensures Great Tenants


With over 30 years’ experience in real estate, Paul Kerley is the president and owner of Commercial Property Resources (CPR). From his office in Salem, Oregon, Paul Kerley oversees the company’s real estate investments and residential units.

CPR’s rental policy is designed to match tenants with their desired homes and ensure a good owner/tenant relationship.

Potential tenants 18 years of age and up can begin the application process by completing a rental application. Once completed and signed, this form will be submitted to CPR’s office in Salem, Oregon, with a copy of a current government-issued form of identification and a $40 application fee.

Applicants should also provide verification of their income. CPR policy requires that an applicant’s income be three times the rent of his or her desired home. A recent paystub is accepted as proof of income only if it includes year-to-date earnings. Applicants who cannot easily satisfy the income criteria can have a reliable person co-sign their application.

CPR requires that tenants have good rental history for the past two years and no eviction proceedings in the past five years. Multiple eviction notices and rental histories featuring unpaid rent will result in outright denial.

A criminal background will constitute additional grounds for denial. Applicants should have no recorded felonies for the last five years before the application. For applicants with felonies on record beyond the past five years, they should have had no misdemeanor charges filed against them since that time.                            

Tuesday, July 26, 2016

An Overview of the Property Manager License Process


As the owner and president of Salem, Oregon-based Commercial Property Resources, Inc., and a licensed property manager, Paul Kerley manages 1,000-plus residential units throughout the region. Paul Kerley also owns several limited liability companies that purchase properties around Salem. One of his companies recently purchased all of the rental properties in the unincorporated community of Grand Ronde.

As established by the Oregon State Legislature, someone applying for a property manager license must be at least 18 years of age and have a high school degree or equivalent. After applying for the license, potential real estate managers must complete a 60-hour, pre-license-education course at an approved school. Covering the basics of property management, the course does not qualify the applicant for the license by itself, but it lays the foundation to take the state Real Estate Agency exam.

Proctored by PSI Services, LLC, the property manager exam covers topics ranging from state license and agency laws to tenant relations and fair housing laws, as well as important risk management and maintenance topics. The test’s sections are designed to ensure that the potential real estate manager has the knowledge he or she needs to take care of the property and its tenants in a safe, responsible manner.

Friday, July 8, 2016

Grande Ronde, Oregon - A Small Community with Investment Potential


Paul Kerley, president of Commercial Property Resources, Inc., in Salem, Oregon, has drawn on his more than three decades of experience as a real estate broker, owner, and property manager to conclude some of the most successful transactions in the region. His acquisition of a large portion of property nearby in the unincorporated community of Grand Ronde enabled him and his team to incorporate Grande Ronde Village, LLC, toward the close of 2015.

The site Paul Kerley chose for his significant investment in this small community consists of more than 40 single-family homes, most of which offer garage or storage space, utility hookups, and fenced yards. The purchase provides housing for households of modest means.

The greater Grande Ronde community, in the northwest part of Oregon near Salem, is home to the Native American population of the Confederated Tribes of Grande Ronde, which maintains tribal culture through the Chachalu Museum. In fact, people with tribal heritage make up about one-fifth of the area’s population.

In the Grande Ronde community, the median home value is approximately $170,000, and the median income is about $40,000. Most residents are in their 50s and 60s.

Thursday, June 30, 2016

The Challenge and Investment in Renovating Commercial Properties


Paul Kerley of Salem, Oregon, has built up more than 30 years of practical experience in the real estate brokerage and property management fields. Before he established Commercial Property Resources, Inc., in the early 1980s, he concluded the successful sale of about half of the 500 apartment units he owned and managed. Paul Kerley’s activities in the field include the acquisition and major renovation of multifamily residential complexes such as the Salem, Oregon, area Albany Meadows property, which he renamed in 2007.

The run-down Albany Meadows site initially presented a number of challenges, including mold and extensive wear and damage to paint, carpeting, and fixtures. The Commercial Property Resources team repaired and upgraded the property to a high contemporary standard.

Any investor interested in purchasing a commercial property in poor condition with the aim of renovating it will want to do his or her due diligence by studying financial data on the local market, including the sub-market to which the property in question belongs. In addition, it will be necessary to compute the cost of purchase and renovation against a realistic final selling price.

You will also need to evaluate the neighborhood: An investment in a less-advantaged area could prove a wise one if the quality of local community infrastructure is beginning to rise. However, a purchase in a run-down area without such prospects may prove to be a losing battle.

Wednesday, June 22, 2016

Real Estate Administrative Action Plan

 

Paul Kerley, the owner and president of Commercial Property Resources, Inc., pursues real estate ownership and management transactions for his company in Salem, Oregon. Paul Kerley prefers dealing with properties that he is geographically close. This allows him and his co-owner, John Kerley, to personally handle property dealings near their home base in Salem, Oregon.

Mr. Kerley and his team continue to promote an administrative action plan that they developed to deal with real estate ventures for their company. The administrative action plan includes detailed steps that they believe are important in securing properties that satisfy their buyers.
First, they perform background and credit checks when needed. After that, they assess the area’s demographics and set rent levels to match the community’s needs. They then evaluate their lease agreements and update where necessary. Lastly, they make sure all units are empty, cleaned and inspected before leasing. If any repairs are needed, they make sure everything is up to a proper standard before leasing.

Their plan allows them to maintain the property in order to avoid further damage that occurs from not addressing the unit’s issues early on. Apart from that, they also establish policies for pets, furnishings, security, and utilities. Once the unit is ready, they advertise the available space to establish an ongoing waiting list for quick replacement of tenants.

Friday, June 10, 2016

Oregon Apartment Villas Purchased Under Commercial Property Resources




Thursday, June 2, 2016

Willamette Valley Helps Produce Oregon’s Best Wine


Oregon-based property manager Paul Kerley is the owner and president of Commercial Property Resources, Inc. Located in the state capital of Salem, Paul Kerley owns over 1,000 residential properties in Oregon. Located in the Willamette valley, Salem, Oregon is an area perfectly suited to wine lovers and connoisseurs, with over 500 wineries.

Nicknamed, “Oregon Wine Country,” the Willamette valley is home to nearly 20,000 acres of vineyard. A whopping 14,027 acres of that is for the area’s main variety, pinot noir. The valley is dotted with vineyards and wineries, many of which offer wine tastings to thirsty travelers. For those who prefer guided tours, multiple touring companies throughout the valley offer the experience and knowledge of local connoisseurs to help you get the most out of your wine tasting trip.


April 1, 2017 will mark the second annual Willamette Valley Pinot Noir Barrel Auction. Wineries from all over the valley come together to present hand-crafted wines to a trade-only audience. This year’s auction welcomed over 400 guests who helped raise $476,000. All proceeds benefit the Willamette Valley Wineries Association, helping them further spread the word about the state’s wonderful wines.