Frequently Asked Questions (FAQs)
Getting Started & Services
Q: What types of properties does Chroma manage? Chroma specializes exclusively in the management of residential rental properties throughout the Portland Metro area. Our portfolio and expertise encompass a diverse mix of investments, including:
Single-Family Homes: From luxury homes in sought-after neighborhoods to standard family homes across a range of price points.
Multi-Unit Properties: Small multi-plexes, duplexes, triplexes, townhomes, and apartment buildings.
Accessory Dwelling Units (ADUs): We manage both attached and detached ADUs as part of our long-term rental focus.
By focusing solely on residential properties in the Portland Metro area and its core surrounding suburbs (including Beaverton, Hillsboro, Lake Oswego, Tigard, and Happy Valley), we maintain deep expertise in the specific market trends and complex local regulations that affect your investment.
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Q: How can I get started with Chroma? Getting started with Chroma is easy. You have two excellent, no-obligation options to begin the partnership:
Request a Complimentary Rental Analysis: 📊 We'll provide a data-driven expert assessment of your property's optimal market rent.
Request a Personalized Proposal: ✍️ If you're ready to explore full-service management, we'll create a customized proposal outlining our strategy and fees for your specific investment goals.
Click here to connect with our team and take the first step
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Q: What services are included in full-service management? Full-service management covers every detail of the tenancy lifecycle, providing you with a truly passive investment experience. Our approach includes four core pillars:
1. Leasing & Marketing 🚀
Complimentary rental analysis and professional photography.
Extensive marketing and listing on all major rental platforms.
Managed showings and securing the right resident.
Comprehensive tenant screening (including income verification, background checks, and prior landlord references), fully compliant with all Portland and Oregon regulations.
Detailed lease preparation and execution.
2. Financial Management 📊
Timely rent collection and security deposit accounting.
Monthly owner statements, income distributions, and annual 1099 tax reporting.
Interim billing set-up (for utilities/fees, where applicable).
Access to your Owner Portal for real-time financial data and reports.
3. Property Maintenance & Care 🛠️
24/7 Emergency maintenance coordination and standard work order management.
In-house maintenance team for quality control and cost management.
Annual property inspections with detailed photos and recommendations.
Project management for turnovers, repairs, and large-scale capital improvements.
4. Tenant & Compliance Expertise ⚖️
All ongoing tenant communication.
Proactive guidance to help you navigate Portland's complex and ever-changing regulatory environment (e.g., security deposit laws, screening rules).
Management of lease renewals and move-out accounting.
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Q: I’m currently working with another property manager, can Chroma take over management? Yes, we frequently take over management from other companies. We have a proven, streamlined process designed to ensure a smooth transition with zero disruption to your tenants or cash flow.
Here is our simple takeover process:
1. You give notice: You review your current contract and send the required notice of termination (typically 30 days) to your existing manager.
2. We take over: We immediately contact your former manager to coordinate the transfer of all necessary items.
3. The transfer: We secure the leases, rent rolls, keys, tenant contact information, and ensure the transfer of the security deposits and final accounting—all in compliance with Oregon Real Estate Agency rules.
4. Tenant communication: We notify your tenants of the change, introducing ourselves and providing new instructions for rent payment and 24/7 maintenance.
We handle every detail to ensure a perfect handover, allowing you to relax and enjoy the Chroma difference.
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Q: I just want assistance with marketing and leasing my property, does Chroma do that? Yes, we offer a dedicated Marketing & Leasing service for owners who prefer to manage their own properties. We handle the entire tenant placement process, ensuring you start your self-management journey with a high-quality, fully vetted resident.
Our service includes:
Professional photography, marketing, and advertising across all major rental platforms.
Managing all property showings.
Comprehensive tenant screening and application processing, fully compliant with Portland/Oregon regulations.
Drafting the final rental agreement with all necessary addendums.
We find you a great tenant, complete all the leasing work, and then turn management over to you. Our fee for this service is one month's rent.
You can find more details about this and our full-service option on our Pricing Page.
Fees & Pricing
Q: What is the standard monthly management fee? Our standard full-service management fee is 8% of the monthly rents collected for single-family properties.
This rate is highly competitive in the Portland market for the premium, compliant services we include. Please contact us directly for specific multi-family or portfolio pricing, which may be discounted.
What the 8% Monthly Management Fee Includes:
Financial & Reporting Transparency
Rent Collection and Processing
Monthly Owner Statements and Direct Income Distributions (EFT)
Year-End Owner Statement and 1099 Tax Preparation
Monthly Reconciliation and Clients' Trust Accounting
Owner Portal Access for real-time reporting and secure document storage
Compliance & Legal Administration
Full regulatory compliance management for all State and complex Local (Portland) landlord-tenant regulations.
Management of all Tenant Notices (e.g., Notices of Non-payment, Notices of Violation).
Interim Utility Billing Set-up and Coordination
Security Deposit Accounting (including legal move-out reconciliation).
Tenant & Property Care
All day-to-day Tenant and Owner Communications
Tenant Portal Access (for easy rent payment and maintenance requests)
Complimentary Inspections: New Property Onboarding, Move-in, and Move-out Inspections.
Complex Lease Renewal Work (including adding/removing roommates and non-renewal notices).
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Q: Is there a fee when a new tenant signs a lease? Yes, our one-time New Lease Fee is 50% of the first month's rent. This fee is only charged when we successfully place a new, fully screened tenant in your property, ensuring our efforts are directly tied to your successful rental income.
The New Lease Fee covers our entire end-to-end leasing process, including:
Market Analysis & Pricing: Determining the optimal market rent for your property.
Professional Marketing: High-quality photography, listing syndication, and advertising across all major rental platforms (we cover all photography and listing costs).
Showings & Inquiry Management: Dedicated leasing agents manage all tenant inquiries and coordinate property showings.
Comprehensive Screening: Our rigorous, multi-point tenant screening, compliant with all Portland FAIR ordinances (credit, background, income verification, and rental history checks).
Legal Lease Preparation: Drafting and executing the legally compliant rental agreement, including all necessary local and state addendums.
Move-In Coordination: Handling the collection of the first month's rent and security deposit, ensuring utilities are transferred to tenants, ensuring renter’s insurance is in place, conducting the detailed move-in inspection.
This fee guarantees you a vetted, compliant tenancy and minimal vacancy time.
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Q: What is the cost of the annual property inspection? The annual property inspection is a one-time fee of $150. We view this inspection as a vital part of proactive, preventative maintenance, designed to protect your long-term investment.
The $150 fee includes:
Thorough Evaluation: A full inspection of your property's condition, both interior and exterior.
Detailed Documentation: A comprehensive, multi-point report complete with detailed, time-stamped photos.
Risk Identification: Our team specifically looks for tenant lease compliance issues, signs of deferred maintenance, water intrusion risks, and potential safety hazards.
Actionable Recommendations: The report includes personalized recommendations for immediate repairs or future capital improvements, ensuring you address small issues before they become expensive problems.
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Q: Do you charge for unit turnover or large projects? Yes, we charge a transparent project management fee of 10% of the total project cost for two specific areas:
1. Unit Turnover Management (Rent-Ready): This fee covers the coordination of all cleaning, maintenance, and necessary repairs to get the property ready for a new tenant after a move-out.
2. Large Project Management: This applies to significant repairs, capital improvements, or renovations exceeding $5,000.
What the 10% Fee Covers: This fee compensates us for the significant time and labor involved in fully managing the project, which includes:
Obtaining and negotiating multiple bids from our trusted vendor network.
Scheduling and managing all contractors on site.
Running the project budget and timeline.
Providing quality assurance and final inspections.
Handling all invoice processing and payment.
This comprehensive oversight ensures high-quality work and minimal delays, maximizing the return on your investment.
Our Processes
Q: How does Chroma pay owners? We prioritize getting your income to you earlier in the month than most property management companies. We know timely access to your funds is crucial for your investment planning.
Here is our owner payment process:
Statements & Initiation: We finalize and process your monthly owner statement on the 10th of the month. At the same time, we initiate an electronic (ACH) transfer of funds directly to your designated bank account.
Fund Availability: Due to standard bank processing times, funds typically become available in your account within 4 to 5 business days of the transfer initiation.
The Chroma Advantage: While many other firms wait until the 15th or even the end of the month to release funds, our practice ensures you receive your passive income sooner, providing you with more predictable and faster cash flow.
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Q: Do you collect security deposits? Yes, we firmly believe collecting a security deposit is essential to protecting your investment. While some property managers stopped collecting deposits after the City of Portland passed the FAIR Ordinances in 2020, we view them as the best financial mechanism to encourage responsible tenancy and provide protection against damage beyond ordinary wear and tear.
Our Security Deposit Process:
Collection: We collect a security deposit equal to one month's rent for all managed properties, which is the standard maximum limit for an unfurnished unit under the City of Portland's regulations.
Holding: All security deposits are held in a separate, non-interest bearing Clients' Trust Account, strictly in compliance with Oregon Real Estate Agency (OREA) requirements.
Accounting: Following the move-out, we provide a detailed, legally required written accounting to the tenant and owner within the 31-day deadline established by Oregon State Law (ORS 90.300).
This practice ensures we are both maximizing the protection of your asset and maintaining full regulatory compliance.
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Q: Does Chroma manage short-to-mid-term rentals? We focus exclusively on long-term residential rentals, and do not manage short- or mid-term properties. We specialize in 12-month leases for owners and investors who are committed to a stable, buy-and-hold strategy.
Our philosophy is simple: While short-term rentals may offer higher rents, the inevitable turnover and vacancy periods often offset those gains and introduce unpredictable costs. We've found that the best strategy for maximizing long-term returns is to keep great, long-term residents in place.
Our core focus is on minimizing vacancies and retaining happy, on-time paying residents year after year. This creates a truly passive and profitable investment for our clients.
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Q: Does Chroma manage furnished rentals? No, we do not manage furnished rentals for long-term leases. Our business model is focused on protecting the long-term value of your property, and managing furnished units presents two key challenges in the Portland market:
Tenant Preference: Tenants looking for a standard 12-month lease typically have their own belongings and prefer to make the space their own. Furnished units greatly limit the pool of qualified long-term applicants.
Increased Risk/Limited Protection: While Oregon state law may allow a higher deposit for furnished properties, the limited security deposit amount (often capped at one month's rent in the City of Portland) provides insufficient protection. Should a tenant cause damage to furniture or the owner's personal property, the cost of repair or replacement often significantly exceeds the security deposit.
We strongly recommend providing an unfurnished space for the best success with a stable, buy-and-hold investment strategy.
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Q: What happens if tenants stop paying rent? We have a two-part strategy for minimizing rent collection issues: prevention and legally rigorous follow-through.
1. Prevention & Performance 🛡️
Our primary goal is to prevent non-payment entirely. Your data shows this is working: our residents average 98% on-time rent payments. This success is due to our rigorous tenant screening, which includes:
Income Verification: Ensuring applicants financially qualify for the monthly rent.
Background Check: Comprehensive criminal and credit checks.
Prior Landlord Verification: Confirming a history of timely payments and positive tenancy.
Easy Payment: Making it easy for residents to pay on time, with 95% using our online portal.
2. The Late Rent & Legal Process ⚖️
If a tenant is late, we follow a strict, state-mandated protocol to address the non-payment immediately, ensuring we protect your right to collect rent and take necessary action quickly.
Grace Period: 1st-4th day (after rent due) - Oregon law requires a minimum 4-day grace period before a late fee can be charged. We utilize this period to follow up with the tenant.
Notice to Pay: 8th day (after rent due) - If rent remains unpaid, we serve the tenant with the appropriate formal notice: a 10-Day Notice to Pay or Quit. This notice is fully compliant with ORS 90.394.
Court Filing (FED): after notice expires - If the tenant fails to pay by the deadline on the notice, we immediately initiate the Forcible Entry and Detainer (FED) process in court to regain possession of the property.
We manage the entire process, from serving the correct legal notices to coordinating with attorneys and the court system, to ensure the fastest possible resolution while remaining 100% compliant with all state and local landlord-tenant laws.
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Q: Does Chroma handle the eviction process? Yes, Chroma handles the entire eviction process from start to finish. While our stringent screening process is designed to avoid evictions entirely, the ability to act swiftly and legally when necessary is non-negotiable for protecting your investment.
Our Eviction Management Strategy:
Specialized Legal Partnership: We work exclusively with a Portland-based law firm that specializes in landlord-tenant law, ensuring every filing, notice, first appearance, and hearing is executed and in strict compliance with complex Oregon and City of Portland regulations.
In-House Expertise: We have three licensed property managers on staff with decades of combined experience navigating evictions and related legal issues. This expertise is leveraged to ensure positive outcomes and minimal vacancy time.
Full-Service Execution: You never have to step foot in a courtroom. We manage all aspects: serving proper legal notices (like the 10 Day Notice of Termination for Non-Payment of Rent), filing the FED (Forcible Entry and Detainer) complaint, attending mediation, and coordinating the final legal turnover of the property.
Our goal is to avoid court, but when necessary, we ensure the process is handled with professional speed and the highest standard of legal protection for you, the owner.
Maintenance & Turnover
Q: What is involved in preparing my property to rent? We highly recommend addressing all maintenance and cleaning issues before starting the leasing process. Presenting a pristine, safe, and legally compliant property is the best way to attract high-quality tenants quickly and achieve the highest market rent.
Preparation involves a comprehensive, room-by-room checklist focused on four areas:
1. Safety & Compliance
Ensuring all publicly reported permits for the property are finalized.
Installing Smoke and Carbon Monoxide Alarms in compliance with strict Oregon laws.
Verifying all windows function properly for fire egress and installing thumb latch deadbolts on exterior doors.
Checking electrical systems, including labeled breaker boxes and functional GFCI outlets in wet areas (kitchens/baths).
2. Exterior & Grounds
Maintaining the lawn and trimming trees/bushes away from the roofline.
Ensuring gutters are clear and surfaces (sidewalks, patios) are free of moss and major trip hazards.
Confirming all exterior lights and fences/gates are secure and fully functional.
3. Interior Maintenance
Applying fresh paint, filling nail holes, and providing touch-up paint color information.
Confirming all plumbing and mechanical components (sinks, toilets, disposals) are working with no leaks.
Ensuring all windows and window treatments (blinds/curtains) are installed and functioning properly for privacy.
4. Deep Cleaning
Professional cleaning of all carpets, hard-surface flooring, and baseboards.
Thorough cleaning of all appliances (including the inside of the refrigerator, washing machine seal, and stove interior).
Ensuring HVAC systems are working and providing new furnace filters.
We offer a full Unit Turnover Management service if you prefer our team to coordinate all repairs and cleaning for you. For the complete list of requirements, please see our Maintenance Checklist.
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Q: Can Chroma handle the maintenance and preparation work? Yes, we absolutely handle all maintenance and preparation work for you. We manage dozens of complex property turnover projects annually, leveraging our in-house expertise to ensure speed and quality control.
We have a dedicated Project Manager on staff whose sole job is to coordinate all necessary repairs, renovations, and cleaning to get your property rent-ready quickly. This service includes:
In-House Maintenance Team: We utilize our own skilled crew for most routine repairs and unit turnover work, which ensures consistent quality and better cost management.
Vendor Network: For larger or specialized projects, we coordinate directly with our vetted network of trusted outside vendors.
End-to-End Service: We manage everything from bid collection and contractor scheduling to final quality assurance and invoice processing.
This service allows owners to achieve the highest possible rent without handling the logistics of renovations or turnovers themselves. Remember, for large projects and turnovers, a 10% fee of the total project cost applies for this specialized coordination.