Demystifying Real Estate Titles and Positions

Based in Salem, Oregon, Paul Kerley founded Commercial Property Resources, Inc., in 1983. Paul Kerley has managed more than 1,400 residential rental units and is licensed to broker commercial properties throughout Oregon.

Many individuals confuse real estate positions such as “broker,” “agent,” and “salespeople.” Those who go into real estate transactions with an understanding of the role of each businessperson involved may not feel as confused during the process.

The term "real estate agent" is something of a catch-all: anyone who earns a real estate license is a real estate agent. Sales professionals and brokers are both technically real estate agents. They can show properties to prospective clients and, depending on the full extent of their qualifications, can produce contracts. The catch is that qualifications to become an agent vary from state to state. Hence, most states require agents to take a minimum number of classes to receive a license to sell and show real estate within that state.

Although a real estate broker is also an agent, brokers undergo training and education beyond the minimum requirements for licensure. They must pass a state broker's exam, after which they may work alone or hire agents to work under them.                           

Rental Criteria at Commercial Property Resources

During his time as the owner and president of Commercial Property Resources, Inc., in Salem, Oregon, Paul Kerley has helped the company become a leading provider of rental properties in the Willamette Valley. Paul Kerley currently oversees approximately 1,000 rental properties throughout Salem, Eugene, Albany, Cottage Grove, Hillsboro, and several other locations in the state.

To rent a property with Commercial Property Resources, applicants must submit current photo identification at the time of application. Applicants also must show proof of a monthly income totaling at least three times the property’s rental amount or submit a housing voucher. In terms of rental history, applicants must have a good rental history for at least two years, with no evictions within the past five years.

Common grounds for denial include multiple 72-hour notices from landlords or outstanding balances with utility companies. All properties require a refundable security deposit, which varies depending on the size of the rental property.

To learn more about renting with Commercial Property Resources, visit www.rentandresidehere.com. 

Make an Apartment Complex Appealing

Salem, Oregon, resident Paul Kerley is the president of Commercial Property Resources, Inc., a firm which focuses on the ownership and management of residential properties. In addition to investing in condominiums and single-family homes, Paul Kerley invests in apartment complexes.

In order to attract renters to an apartment complex, owners should equip their properties with the following three amenities in order to make them more appealing places to live.

1. Safe lighting is important. When the perimeter, parking areas, and entryways of an apartment complex are well-lit, it can deter criminal activity. Help potential residents feel more confident in the safety that your complex provides by installing lighting in advantageous positions across the property.
2. Modern appliances appeal to renters. Outdated stoves, refrigerators, and washing machines can prematurely age a property, leading to lower levels of interest from prospective inhabitants. Boost rental value and enthusiasm for a property by investing in uniform, modern-looking appliances.
3. Energy efficiency is a selling point. Installing energy-efficient amenities such as double-pane windows and moisture-sensing bathroom ventilation fans can entice potential tenants. Not only will these types of amenities look new, but they will also lower the cost of power bills for tenants.

Willamette University College of Law Externship

A longtime real estate professional based in the Pacific Northwest, Paul Kerley currently owns and operates Commercial Property Resources, Inc., in Salem, Oregon. Before launching his career in real estate, Paul Kerley earned a JD from the Willamette University College of Law in Salem.

In addition to its course offerings, the Willamette University College of Law sponsors an externship program designed to immerse students in the work of practicing attorneys. Students work closely with lawyers in a number of settings, ranging from in-house counsel at national companies to state and federal agencies. Participants in the externship program perform a variety of tasks, such as alternative dispute resolution, administrative advocacy, litigation, and transactional work.

To qualify for the externship program, students must enroll in either the part-time or full-time externship course, which comes with varying credit hours based on the time of year. Students must be in their second or third year at the Willamette University College of Law and enjoy good academic standing to be considered.   

Costs Associated with Rental Property Investments

Paul Kerley, the owner and president of Commercial Property Resources, Inc. in Salem, Oregon, owns some 1,000 residential units. The properties owned by Paul Kerley include single- and multi-family homes and apartments in Salem, Oregon, and neighboring communities.

Before investing real estate, it is important to note all of the costs associated with a rental property. Investors should be capable of covering costs such as down payments, insurance, ongoing mortgage payments, and utilities. Additionally, they should plan for significant maintenance; older properties often need renovations, and newer ones may require quick fixes. Setting money aside monthly for maintenance can help investors better prepare for unexpected issues. Depending on the type of property, there may also be monthly association fees, which are particularly common in condominium and town home developments.

Rental properties also carry some unique costs that many homeowners don't need to consider. Owners may need to pay for advertising to find tenants, and be financially prepared for vacancies as tenants come and go. Investors who use property managers to oversee their rental holdings will also need to plan for their compensation.         

An Overview of Property Classifications

Paul Kerley, the owner and president of Commercial Property Resources, Inc., in Salem, Oregon, has more than 30 years of experience in commercial and residential real estate. Currently owning and managing through his firm more than 1,000 units, Paul Kerley tends to buy B and C class properties in the Salem, Oregon, region.

How a property is classified depends on its location, its physical characteristics, and its potential among renters. Three main classifications exist: class A, class B, and class C.

Class A properties are typically less than 15 years old. They are quality buildings that include all the latest amenities. Vacancies and major maintenance issues are uncommon, and rents are often high. Tenants who occupy class A units tend to have high incomes, as well.

Class B properties are also in good shape but are usually a bit older. These types of units may need renovations or maintenance work from time to time, and rents are lower.

Class C buildings often require the most work from homeowners and property managers. At more than 20 years old, these properties may be due for major renovations and aesthetic updates. Depending on the area, it can take a bit of time to find renters for these types of units.                           

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.

The Marketing and Advertising Responsibilities of a Property Manager

Having acquired numerous properties over the span of three decades, Salem, Oregon, real estate investor Paul Kerley possesses a wealth of experience in commercial property management. Paul Kerley oversees the management of approximately 1,000 residential units he owns in and around Salem, Oregon, and elsewhere.

A proficient property manager is key to the success of a real estate investment in a multifamily property. His or her primary task is to ensure that rental units do not go unoccupied, and he or she has a responsibility to market and advertise vacancies promptly. The property manager must first prepare the apartments for showing by coordinating the efforts of the maintenance staff, who not only clean open units but also maintain the exterior to increase curb appeal. In addition, a property manager collaborates with realtors and leasing agents to communicate the availability of a unit and creates collateral material, ranging from signs to print ads, to garner interest from prospective tenants.

In the same capacity, a property manager makes him- or herself available to address questions as needed. To reduce the number of calls he or she has to take regarding common questions, the manager may set up a recorded, 24-hour hotline that provides details about the property.

Paul Kerley Acquires Grand Ronde Rental Properties

Oregon-based Paul Kerley has over 30 years of experience in the real estate business and has owned and managed Commercial Property Resources, Inc. since 1983. The company owns and manages about 1,000 residential rental properties in the Salem area and frequently expands its holdings. Recently, Mr. Kerley’s solely owned limited liability company Grand Ronde Village, LLC, purchased more than 40 residential rentals in Grand Ronde, Oregon.

Grand Ronde is a census-designated place in western Oregon. It had a population of 1,661 in the 2010 census, and rentals accounted for 42.9 percent of its occupied housing. Grand Ronde also hosts the state’s largest casino and top tourist attraction, Spirit Mountain Casino. The Bunn Family Limited Partnership formerly owned the units purchased by Grand Ronde Village. Most of the units possess fenced yards as well as garages or storage sheds and are equipped with washer/dryer hookups. The properties are located at 8625 Grand Ronde Road.                            

Economic Outlook for Oregon in 2015 Is Mixed

Paul Kerley maintains a significant presence in Salem, Oregon's real estate market as the owner of Commercial Property Resources, Inc. Paul Kerley has experience in owning and managing commercial and residential properties, and his holdings range from condominiums to single-family homes in a somewhat improving economy for Oregon.

Oregon's improvements in the labor market have exceeded those of the United States as a whole, but still lag behind the performance of average states before the Great Recession. The unemployment rate for 2014 has actually grown; however, mitigating this concern is strong growth in the number of workers entering the job market. This dynamic of job seekers pushing up the unemployment rate is not unexpected; by this measure Oregon is expected to reach national pre-recessionary standards in 2015.

The state's housing data also looks promising. Oregon's population is growing, which increases the number of new households formed. Many of these new householders had been living with parents, with fewer young adults living at home in 2014.

These young people are mostly renters rather than owners. Oregon's rental numbers have jumped, largely as a result of student loan debts and fewer assets. As a result, demand for housing has gone up. This expansion is predicted to occur in multi-family housing as millennials graduate from college.

Home buying is most prevalent in the 25 to 35 cohort. Even though the weakened economy has driven up the traditional buying age, the overall trend of housing purchasing should continue in the years ahead.

Salem, Oregon - The Cherry City

An attorney who left the practice of law to devote himself full-time to the management of his growing portfolio of real estate investments, Paul Kerley owns and manages about a thousand residential units in and around the city of Salem, Oregon. A former licensed real estate broker, he has brokered hundreds of significant transactions, including one involving six power shopping centers with an aggregate value of $34 million. Paul Kerley owns a property management real estate firm, Commercial Property Resources, Inc. in Salem.

Nicknamed the Cherry City for its former prominence in the regional cherry-growing industry, Salem is the capital of Oregon and the seat of Marion County. Situated in the state’s northwest corner, it is home to about 160,000 people and ranks as the state’s third most populous city, after Portland and Eugene.

Because it is the state capital, government is the primary employer, followed by education and healthcare facilities. The city also serves as a major transportation hub for agricultural products, providing a convenient gateway to Interstate Route 5, which leads to Portland, just an hour west.

Founded in the Willamette Valley on the banks of the Willamette River in 1841, the city boasts four distinct National Register Historic Districts and a wide range of cultural opportunities, including the Mission Mill Museum, the Hallie Ford Museum of Art, the Elsinore Theater, and the Salem Chamber Orchestra, among many others. In addition, Salem offers a broad range of dining choices, including traditional restaurants featuring cuisines from around the world, franchise restaurants, coffee shops, and bistros. Visitors and residents alike can always enjoy the variety of sports and recreational opportunities available in Salem, including golf, water sports, and fishing.