If you are a homeowner or property owner in the Seattle area and you’re thinking about renting out your property, there are a number of factors to consider before moving forward. Some questions swirling in your head might be: Do I really want to rent out my property? How much should I charge for rent? What else do I need to know and do? Let’s break each of these down.
A Look at Average Property Management Fees in Washington State
If you’re a real estate investor/property owner considering hiring a property manager, one of the first questions you’re asking is probably this: Just how much does a property manager cost? The answer, of course, is not always simple—the average cost of property management services will vary. Most property management companies have rates that allocate a percentage of your property's monthly rent to their services.
9 Common Services Offered by Property Management Companies
If you own a commercial or residential investment property in the South Sound area near Seattle, you may find that managing that property is a little more involved than you’d like. The reality is that while anyone who owns a rental property is technically a landlord, there is a whole lot more involved in being a landlord than mere ownership of the property. And being a great landlord takes a special set of skills, knowledge, and experience—not to mention the time it takes to oversee rentals and complete all the day-to-day tasks that effectively managing a property entails.
Moving to another state can be an exciting—and often stressful—situation. There are so many things to plan for and take care of before, during, and after the move. If you own your current home, one of the biggest decisions you’ll have to make is what to do with your home when you move. For most homeowners, there are two main options to consider: sell the home, or rent it out? Most will opt for selling, for a variety of reasons. But in some cases, it can make a lot more sense to hold on to the property and rent it out, rather than sell. So, how do you know if your case falls into this group? Here are three key signs that renting out your old home when you move out of state could be the right decision for you.
New smart home devices are hitting the market so frequently these days, it can be tough to keep up with. Fortunately, the rapid growth of different companies offering smart home technology means prices are becoming more affordable for consumers. But how can the average homeowner know which devices they should buy now? We’ve put together our top seven recommendations for which smart home devices to consider installing in 2019.
Although it’s possible to manage your rental properties yourself, often doing so isn’t the best decision. It depends on the individual investors and their unique situations, but more often than not, hiring a property management company is a smart way to go—but only if you hire the right company for the job.
Owning a residential or commercial real estate property can be a great way to make money, but it’s not as easy or straightforward as it may seem at first. There are a lot of moving parts involved in turning a profit from a real-estate investment, and less-experienced property owners often make mistakes that cost them a lot of money. A common example is choosing to self-manage rather than hire a property management company, assuming that this approach will be the most cost-effective one. But for most investors, the cost of hiring a property manager is more than worth it because of the many benefits and services they provide. In fact, hiring the right property manager can actually save you money in the long run.
So, is property management worth it?
If you’re a rental property owner/landlord, you’re no stranger to multitasking. Landlords and property managers have many important responsibilities to juggle, and even great landlords can struggle to stay on top of them all. When a landlord’s responsibilities are not appropriately handled, problems arise, and many find themselves feeling stressed and overwhelmed, facing financial trouble, or dealing with serious legal issues. That’s why it’s important to be aware of some of the common problems that landlords face so that you can try to prevent them from happening and quickly deal with issues when they arise.
The holidays are here again, and for most of us, that means we’ll be taking some time away from our usual day-to-day schedules to spend time with family and friends. If you’re a property owner/manager/landlord, you deserve to take a break as much as everyone else. But sometimes the many demands and daily tasks of property managers can be especially overwhelming and cause added stress during the holidays. With tenants going out of town or hosting gatherings in their home or office, there can often be tenant emergencies over the holidays that you’ll need to handle. And if you are planning to travel during the holidays yourself, you’ll need to put even more preparation and planning into how you will stay on top of your tenant needs while you’re away.
Looking for a great place to bring your out-of-town guests, host a happy hour with your colleagues, or just grab a bite with friends? Des Moines, Washington has several local gems that offer unique dining experiences, so there really is something for everyone. Whether you’re craving some fresh local seafood, looking for quick and tasty takeout, or just need some good old comfort food, you can find it right here in Des Moines, WA. Here are five of the best local restaurants you won’t want to miss:
The holidays are just around the corner, so it’s time to start getting in the holiday spirit. Decorating your home and office for the holidays can be one of the most fun and festive ways to jumpstart the season and get that holiday cheer going. Whether you’re decorating style is modern, traditional, or somewhere in-between, here are some of the most exciting and inspiring 2018 holiday decorating trends to look for as you plan your holidays:
As a real estate investor, one of the most important decisions to make after purchasing a property is how it will be managed. A successful investment strategy requires a smart approach to property management—but what that means varies depending on the individual investor. Many new investors choose to start out with a self-management approach, while others may decide it makes more sense to hire a property manager from the get-go. Either way, most investors at some point will be asking themselves, “Should I hire a property management company?” To help you with your decision, here are a few key signs that it’s time to consider hiring a property management company:
Anyone who owns a rental property is technically a landlord, but there is a whole lot more involved in being a landlord than mere ownership of the property. And being a great landlord takes a special set of skills, knowledge and experience. Since courteous and professional landlords are critical to owning a lucrative and productive rental property, it’s important to understand what traits make a great landlord.
If you are already "landlording" full time or on the side, be sure you are implementing these principles of how to be a good landlord. And if you are looking to hire a property manager (aka landlord), here are the top five qualities to look for:
Many investment property owners understand that one the most important ways to increase profitability is to increase tenant satisfaction and improve tenants’ living experience. Understanding and implementing a tenant satisfaction strategy successfully can lead to a decrease in vacancies and an increase in demand for your property—which means this alone could be a determining factor in whether or not you reach your profit goals.
These days, most investment property owners understand the need and benefits of hiring someone to help them manage their property, reduce day-to-day stress, and make their lives easier while turning a healthy profit from their investment. However, many owners either don’t understand the importance of selecting the right property manager, or they simply don’t know what to do and look for before making this important decision. We know it can be a bit overwhelming to find and hire the right property manager, so we’re breaking it down into a few easy steps that will help get you on the right track to finding the best property manager to meet your needs, so you can rest easy and get back to your life knowing your property is in the right hands.
Being a landlord can get confusing. With so much to do and so little time, completing your tasks can be overwhelming. Here are a few tips to get the best tenants for your property.
Owning a residential or commercial investment property can be a great way to make money. Like most business opportunities, however, it’s not always as easy as it seems. There are a lot of details and moving parts involved in order to do it successfully—and profitably. Let’s look at some of the most common mistakes Seattle-area investment property owners make—mistakes that cost them money in the long run.
Powell Property Management Announces Construction of Village Green Memory Care Facility in Federal Way
Local Owners Monte and Diane Powell Working to Achieve Full-Service Vision
for Federal Way Seniors
Topics: Powell Updates