By Coty Thurman, July 15, 2024
At Living Room Property Management, the average renter stays in their rental home for 2.13 years. This means that, approximately every 25-26 months, the home experiences some level of vacancy as we prepare it for the next tenant. As a market-rate housing provider with average rents exceeding the City’s, this duration is influenced by several factors, including a clientele of tenants with the financial ability to purchase a home. They also have the means to cover extensive moving costs that allow them to upgrade and downgrade their living situations as needed. Notably, the tenure significantly increases for subsidized affordable housing rentals, homes designed explicitly for assessability, or homes leased at well-under-market rates.
Charging maximum market rents while managing the risks of turnover and vacancy is a delicate balance for many of our landlord clients. High turnover can lead to increased costs from vacancy periods and the expenses associated with preparing the property for new tenants. Conversely, keeping rents just under market rate by about 10% can provide a strategic advantage. This approach helps ensure that rents do not fall too far behind market rates and can be adjusted within a 12-month period, aligning with Oregon’s maximum annual rent increase of 9.9%.
By offering rents slightly below market rates, property owners give tenants a financial incentive to stay longer, reducing turnover rates. This strategy not only helps maintain consistent occupancy but also fosters long-term tenant relationships, contributing to more stable cash flows and lower management costs. It is noted the 91% of Living Room’s tenants that have occupied their rental for over 5 years are enjoying rents that are strategically placed 10- 25% under market rates. Given the national trend of tenants moving less frequently, we anticipate the average tenancy length to grow over the next few years.
For property owners contemplating whether to charge maximum market rents or slightly below market rates, it’s crucial to weigh the potential benefits of tenant retention against the short-term gains of higher rental income. A thoughtful approach can enhance property performance and a more predictable revenue stream.
By strategically managing rental rates, Living Room Property Management ensures both property owners and tenants benefit, making room for everyone to live comfortably and securely.
Coty Thurman
President & Licensed Principal Broker of Property Management | OR & WA
She/Her
Helping property owners navigate Portland’s rental market with strategy, ethics, and real-world experience.
I’ve spent more than two decades in residential rental management, and if there’s one thing I know for sure, it’s that property management is never just about the property — it’s about people, strategy, and doing things the right way.
As President of Living Room Property Management, my work is centered on helping property owners and tenants thrive through thoughtful systems, clear communication, and ethical housing practices. I love the problem-solving side of this industry — translating complex laws into practical strategies, building processes that support both people and performance, and helping owners make confident decisions about their homes.
People usually call me when they want to talk through the strategy of being a rental property owner. Whether it’s selling a tenant-occupied home, navigating a tough tenant situation, pricing a property, deciding on upgrades, or figuring out the right time to lease, I help people think through the long game. After 25+ years in the industry, I’ve likely encountered a version of your situation before and can offer perspective to support your overall strategy.
I’m passionate about sharing rental trends through both national data and insights from our own portfolio of homes. The hyper-local Portland–Vancouver market is our specialty, and our team is deeply committed to helping housing providers understand both the laws and the realities of our local market.
Industry leadership and community involvement are an important part of my work. I serve as a board member of the Greater Portland chapter of the National Association of Residential Property Managers (NARPM) and had the honor of serving as the 2025 Board President. I’m also a dedicated member of Multifamily NW and the Oregon Realtist community — a group of professionals across the real estate industry working to foster inclusive collaboration, support underserved communities, and create pathways toward greater Black and minority homeownership in Oregon.
I hold property management licenses in both Oregon and Washington and am grateful to manage homes throughout the Portland–Vancouver metro area.
A few things you should know about me: I won’t help anyone get around the law. Ethical housing practices are non-negotiable. And I won’t speak negatively about our city or our neighborhoods — I believe deeply in this community and wouldn’t choose to do this work anywhere else.
Portland is home. I grew up in Montavilla and attended Marshall High School, and today I’m raising my family in the east metro area with my high-school-sweetheart-turned-husband, our kids, and our dog. Outside of work, you’ll usually find me enjoying live comedy or theater, exploring great food, or singing along (loudly) to the Hamilton soundtrack on a scenic drive.
At the end of the day, my goal is simple: help people become thoughtful, confident housing providers — and make room for them to live.