June 2022 Newsletter: Tenant-Landlord Law

Hi,

We're kicking off summer with a focus on tenant-landlord law, and we've got some new videos for you on this topic. Here you can learn about renting out your primary residence, landlord resources, and rules and regulations for accessing your rental property if you're a landlord or considering becoming one.

Freddie Mac recently announced that income from an Accessory Dwelling Unit (ADU) can now be used for income-qualifying on a home loan. Check out our article below to learn how to use your ADU income to increase your buying power!

We're also bringing you information on our recent participation in non-profit SOLVE's sixth annual Pick it Up, Portland! event, Northeast Portland's Concordia neighborhood, our Second Annual Donation Drive in support of Transition Projects, and a special savings offer for you at Pistils Nursery. We're looking forward to a fun-filled, productive summer, and we're thrilled to share all our news and initiatives with you!

As always, reach out to us with all your real estate needs,

PARIS GROUP REALTY, LLC

Paris Group Realty, LLC Empowers its Team of Brokers and Staff to Help Clean Up Portland!

SOLVE’s Pick it Up, Portland 2022 was a tremendous success!

Paris Group Realty, LLC agents and staff were thrilled to take part in SOLVE organization’s recent Pick It Up, Portland! initiative -- a two-day event held June 24th and 25th in the Portland Metro area. This annual city-wide effort focuses on litter removal throughout our local communities and we were proud to do our part in helping clean up our beautiful city!

During the two-day event, a total of 543 volunteers came together and removed more than 4,675 pounds of trash from business fronts, parks, and neighborhoods at 18 sites throughout Portland.

If you were unable to join this year’s sixth annual event, please make sure to join us next year. It’s a great way to spend the day outside, improve the environment, and connect with your neighbors!

Concordia Neighborhood

Concordia, one of Northeast Portland's most diverse neighborhoods, is full of charming homes including craftsman, Foursquare, and bungalow. Many of the houses in this neighborhood are being restored to capture and enhance their original character.

Thanks to close proximity to Alberta Street, there’s plenty of shopping and dining in walking distance. Surrounded by the Alameda, Cully, Beaumont-Wilshire, Sabin, Sunderland, Vernon, and Woodlawn neighborhoods, Concordia also has a strong arts community.

Click here for more information about this eclectic and diverse neighborhood, and to view available homes in the area.

If you'd like to view Portland Metro area neighborhoods, reach out to us at (503) 926-5213 or email us at info@parisgrouprealty.com and we'll take you on a tour!

Breaking News!
Income from an Accessory Dwelling Unit (ADU) Can Now Be Used for Income-Qualifying

Freddie Mac recently announced that income from an Accessory Dwelling Unit (ADU) can now be used for income-qualifying on a home loan. This means if you have ADU income with a current lease agreement, the income can be used to help increase your buying power.

Here's how to qualify:

The ADU must comply with zoning and land use requirements (legal, legal non-conforming or no zoning).
An appraisal report must be obtained to support the ADU's marketability and include at least one comparable sale with an ADU that is rented. If an automated collateral evaluation (ACE) appraisal waiver is offered, it must not be accepted.
The appraiser's rental analysis must include a minimum of three comparable rentals that support the market rent of the ADU, and at least one of the comparable rentals must be a property with an ADU.
The Seller must ensure that the ADU rental income used to qualify the Borrower for the mortgage does not exceed 30% of the total stable monthly income.
At least one qualifying Borrower must participate in a landlord education program or have previous landlord experience for a minimum of one year.

Would you like more information about Freddie Mac's announcement and how you can increase your buying power? Reach out to us at info@parisgrouprealty.com or (503) 926-5213 -- we'd love to discuss this topic in-depth and share more information with you!

There's Still Time to Donate Critical Items for Our Houseless Community!

We're holding our Second Annual Donation Drive in support of Transition Projects! This year's theme is Spring into Summer and we're collecting items that are critical to getting our houseless community through the hot summer months.

We have a collection bin on the front porch of our office in North Portland, and we encourage you to stop by, bring in some items of need, and say hello! We would love to see you!

Donation Drive Dates: June 6th – June 30th | 9:00am – 5:00pm

Office Address: 5214 N Maryland Ave, Portland, OR 97217

Get a 20% Discount at Pistils Nursery!

Pistils Nursery, a small, woman-owned nursery in the Portland Metro area, is well-known for carrying unusual houseplants, pottery, handmade plant displays, and urban farm supplies. They are a local neighborhood favorite and we love perusing their unique offerings and stunning array of plants!

This month we're pleased to announce Pistils Nursery is extending a 20% discount off any one regular priced item* to all Paris Group Realty, LLC newsletter recipients. You can shop at either location too -- on N. Mississippi Ave. or NW Raleigh St.! This discount is good until July 31, 2022.

To redeem your 20% discount, present a copy of the June 2022 Paris Group Realty, LLC monthly newsletter page (or photo of it) during checkout. No code is needed.

Considering Buying or Selling a Home?

If you're considering buying or selling a home or investment property this summer, we're dedicated to helping you reach your real estate dreams and financial goals.

For more than 20 years, Paris Group Realty, LLC, has served hundreds of families and investors in the Portland Metro area. We view at least 20 homes a week all over the Metro area and know what's available in the market. As your experienced guide, we will listen to your unique needs to help you find the perfect space to live and love that's a sound financial investment.

Reach out to us at (503) 926-5213 or info@parisgrouprealty.com and let's get started today!