The Pros and Cons of Renting in Bend

The most appealing part of renting a home in Bend is the short commitment and cheaper overall cost when compared to owning a house in Bend- especially considering you won’t be responsible for most home repairs when living in your rental unless you are the direct cause of the damage. And when you’re ready to pack up and move on when your lease is up, all you need to do is provide your landlord with a 30-day notice. Need to vacate before you lease is up? Luckily, there are still ways to get out of it. Let’s take a closer look!

What are the pros of renting in Bend?

• Shorter Commitment: you can move at the end of your lease with little effort! All you need to do is provide your landlord with a sufficient amount of notice. Most landlords only require a 30-day notice, but some require 60 or even 90 days, so make sure to check your lease for that exact information. Other than that, you’ll just need to make necessary repairs, and clean the property to your landlords standards before vacating. Check with your landlord for a move-out guide, so you know what their exact expectations are. 

• You won’t be responsible for maintenance and repair costs: If a pipe bursts in your home by no fault of your own, then your landlord will be liable to fix these damages- not you. That goes for pretty much anything that breaks in your home, unless there is a clause or disclosure in your lease that states otherwise. For example, some landlords include a clause that states they won’t replace the washer and dryer if it breaks for any reason. 

• Ability to break a lease: If you signed a year lease but need to move before the year is up, most landlords will let you break your lease if you pay a hefty fee, which can be around one and a half times your monthly rent or more. 

• Cheaper than owning: Although rents are still on the high end in Bend, they’re beginning to cool a lot. As of June 2022 Bend began to see a surge in rental inventory, which is beginning to bring the cost of rents down. And compared to the cost of owning a home in Bend, renting is substantially cheaper at the moment. 

What are the cons of renting in Bend?

Just like buying a home in Bend, there are some downsides to renting in Bend as well, including potential rent increases, unpleasant landlords, and pet restrictions. Yet, the most significant disadvantage is that homes in Bend are more expensive than 95% of other fair market areas. It’s costly to rent a home in Bend, but thankfully it is beginning to get better. The most significant driver behind the high prices was the lack of inventory caused by an influx of people moving to Bend in 2020 and 2021 and the new wave of remote work opportunities. Due to a backlog of interested applicants, homes were renting faster than landlords could list them. That is no longer the case, and inventory is increasing, but Bend has a long way to go before it can be considered “affordable.” 

• Inventory: as of August 2022, an estimated 43% of all rental listings in Bend are short-term, furnished homes, which is great if you’re only living here for a few months, but not so great if you want to live here long-term. See the graph below for the breakdown. 

• High Prices: Expect to pay about $1427 for an unfurnished 1 bedroom apartment and $3475 or more for an unfurnished four-bedroom single-family house. If you’re looking for a furnished rental, the price will be closer to $2450 for a 1 bedroom apartment and $4240 for a 4 bedroom house. 

• Rent Increases: You'll only lock in your rental rate for the life of your lease. Once your lease expires, landlords can give you a rent increase of up to 9.2% of your current rent rate every year. Thankfully, they can’t just spring it on you last minute though, Oregon law requires that landlords provide 90-days notice for rent increases or lease renewal offers. 

• Bad Landlords: Yep. They’re the worst! And just like every other city, they exist in Bend too. So, it might not be a bad idea to research property management companies or private landlords if you have any concerns. 

• Pet Policies: Don’t forget about Fido! Bend touts itself to be a pet-friendly city- and it is- just not regarding rental homes. You’ll still find plenty of breed, size, and age restrictions for your furry friends- along with pet deposit requirements.