By Coty Thurman, May 10, 2023
Coty gives you and update on what is happening in the rental market!
Hi, I’m Coty Thurman, Principal Broker and Vice President of Living Room Realty and Property Management here to tell you what you need to know about today’s rental market for late April 2023.
Today’s public service announcement is straight from the desks of our in-house Property management team- Landlords, please hold onto your rentals, we have more qualified tenants than we do rental homes.
It’s no secret- Buying a home right now is not easy, as an aggressive sales market and high-interest rates have many well-qualified folks renting while they wait for their opportunity to buy.
Meanwhile, rental inventory has continued to drop as mom & pop landlords have opted out, choosing to sell their property rather than continue to rent it out. Some are liquidating assets to make it through tough times while others sell in protest to Oregon’s well-publicized recently instituted housing laws. Those who were able to weather the storm over the last year saw steady rent increases.
When comparing the first quarter of 2022 to 2023, Living Room’s rental portfolio saw increases across the board from 2 to 10 percent. These increases helped keep up with the inflationary cost to be a landlord but we all know, the real gain is in the equity these investment properties retain each year. For example, a 500,000 rental home purchased in 2017 is worth approximately $672,786 in today’s market. That home has appreciated by 34% and will continue to grow– all the while providing quality housing for a great set of tenants.
What does this mean for people trying to rent? It means that it’s going to get harder to find single family homes to lease. You will likely be competing with multiple applicants when a home come available. Living a little closer to your neighbors in an apartment may be the only option if our rental owners are no longer attracted to being a landlord and continue to sell off their homes.
What does this mean if you’re someone who’s thinking about renting out a property? Single family homes will remain in high demand. You will have multiple renters vying for the same inventory. You will not need to offer reduced rents or free rent concessions like the apartment buildings trying to fill vacancy they have been sitting on for weeks.
Don’t let the headlines fool you. A strong property management team, like Living Room Property Management, is well educated on local laws, taking the guesswork out of being a landlord. It’s our job to make sure you and your tenants are well informed of your rights and your risks before diving into a lease. The fear goes away when everyone knows the rules.
Living Room Property Management specializes in single-family rentals in Portland, Beaverton and Lake Oswego.We know the formula is simple— happy tenants = happy landlords.
If you’re ready to make a move, call us today, we would love to help you find, or rent, your next Living Room.
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.