Property Management Resources Blog

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Jan Wieder

Recent Posts

Common Fears of Hiring a Property Management Company in Seattle

Being a landlord in Seattle can be a rewarding and profitable venture, but it also comes with several new responsibilities and challenges. For many, partnering with a property management company is an effective way to share these responsibilities and tackle the challenges you may face on a regular basis.

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Topics: Real Estate Investing 101

Renting vs. Selling Your House: The Pros and Cons

If you are planning to purchase a new home in the Seattle area, you have to decide what to do with your existing one. Residential property owners have two primary choices in this situation: renting or selling the house.

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Topics: Real Estate Investing 101

How to Keep Your Apartment Occupancy Rate Under 5% in Burien

It is common knowledge that the key to making a profit off your residential investment properties in Burien is keeping them occupied with long-term tenants who pay rent on a monthly basis.

If high levels of vacancy persist at your apartment complex or multifamily housing, you won’t see a significant return on your investment. Worst-case scenario, you may even struggle with your mortgage payments.

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Topics: Insider, seattle rental house, Real Estate Investing 101, Tips for Landlords

What Are Ideal Vacancy Rates for Investment Properties? | Des Moines

It’s no secret that once you’ve purchased investment properties in Seattle and got them ready for business, you want to see them populated with tenants. Every day or week that your property sits empty is time when you are not making a profit.

There are occasional reasons for wanting or needing to have your properties vacant—such as when you are doing major renovations or cleaning up the space in between tenants. However, in general, landlords in Seattle should strive to implement a variety of strategies to achieve a desirable vacancy rate that directly and positively impacts your long-term return on investment (ROI).

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Topics: Real Estate Investing 101

The Ultimate To-Do List for New Rental Property Owners

You’ve taken a leap and invested in real estate in the Seattle area. The next goal is making a worthwhile profit from your investment by renting out the property.

It sounds simple enough, but there is plenty that must happen behind the scenes when you’re preparing to take on tenants. As a first-time landlord, it can be helpful to follow a step-by-step checklist to ensure you’re doing what you need to maximize your return on investment, care for your property, and cultivate positive landlord-tenant relationships.

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Topics: Real Estate Investing 101

Is Seattle a Good Place to Invest in Real Estate in 2021?

Thanks to the growing job market and demand for housing between north Tacoma and West Seattle, suburban Seattle cities like Burien, Des Moines and south King County in-general, continue to be profitable places to invest in real estate, especially for rental purposes.

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Topics: Real Estate Investing 101

Must-Have Legal & Rental Agreement Documents for Landlords

Being a landlord in Washington State comes with numerous responsibilities. You want to successfully protect your real estate investment and care for your property while also ensuring a certain standard of safety and quality of life for your tenants.

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Topics: Insider, Real Estate Investing 101, Tips for Landlords

How to Find Off-Market Multifamily Properties in Burien

If you are looking for investment properties in the South Puget Sound area, there are various ways to scour the market place and see what’s available. For example, your real estate broker may have access to the multiple listing service (MLS) that enables them easily browse all the multi-family properties for sale by participating brokers.

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Topics: Insider, Real Estate Investing 101, Tips for Landlords

Is It Better to Invest in Single-Family Properties or Multiplexes?

If you’re interested in becoming a landlord, one of the first decisions to make is what type of investment property you want to own and manage.

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Topics: Real Estate Investing 101

How Much Does it Cost to Hire a Property Manager in Washington?

If you’re considering hiring a property manager to ease the difficulties of being a real estate investor or property owner, one of the first questions you’re asking is probably this: How much does property management cost?

The answer, of course, is not always simple—the average cost of property management services will vary, especially depending on whether your real estate investment is residential or commercial. Most property management companies, however, have set rates that allocate a percentage of your property's monthly rent to utilize their services.

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Topics: Real Estate Investing 101

Do Property Managers Pay for Repairs in Washington?

In Washington state, tenants have the right to a safe and livable habitat when renting a home or an apartment. As a landlord, it falls on you to maintain your properties to that standard and keep the property in good rentable condition.

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Topics: Real Estate Investing 101

7 Mistakes to Avoid When Listing a Rental Property in Washington

You could own one of the finest rental homes or apartment complexes in the Seattle area, but if it sits vacant, you won’t see a worthwhile return on your investment.

One of the keys to keeping your rental properties occupied is to properly market them. You want to make sure your vacant rentals are being exposed not only to a wide audience but more specifically, individuals who are likely to be prospective tenants. You also need to be sure you have all legal and rental documents need for your lease agreement.

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Topics: Tips for Landlords

Actions Taken During Washington's Eviction Moratorium to Protect Landlords & Tenants

The ongoing COVID-19 pandemic, as well as the associated legislation passed at the state and local level in response, has created an unprecedented situation for landlords and tenants to navigate in 2020.

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Topics: Real Estate Investing 101, Tips for Landlords

Top 6 Traits of a Great Landlord Near Seattle (& How to Become One)

Anyone who owns a rental property in South Seattle is technically a landlord, but there is a whole lot more involved in fulfilling the responsibilities of being a landlord—and a great one, at that—than the mere ownership of property.

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Topics: Tips for Landlords

23 Tenant Screening Questions to Ask Applicants near Seattle

As a landlord in Seattle, one of your top goals is likely to maximize your occupancy rates. After all, your real estate investments aren’t worthwhile if they sit empty.

However, you don’t want to rush the tenant acquisition process to the point that you are sacrificing the quality of your renters. In Washington state, it can be difficult to evict troublesome tenants, and legislation related to COVID-19 has placed further restrictions on evictions.

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Topics: Tips for Landlords

How to Find Good Tenants for Your Rental Property in Washington

Being a landlord can be more challenging than it sounds. There’s much to do and often little time to do it, especially if you are dealing with numerous other personal and professional responsibilities.

One tasks that is especially time-consuming—and also one of the most important responsibilities of being a landlord—is finding good tenants for your rental properties. Renter turnover is costly and stressful, so getting your apartment units or single-family home filled with the right people is essential.

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Topics: Tips for Landlords

How To Determine a Property's ARV (After Repair Value)

Not every potential investment property on the market in the South Puget Sound area is in tip-top shape, and that’s okay. Sometimes you can maximize your profit by choosing a property that will serve your purpose and provide long-term value after it’s undergone a few renovations.

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Topics: Real Estate Investing 101

7 Ways to Reduce Apartment Expenses and Operating Costs in Washington

As the old adage goes, you have to spend money to make money. As the landlord of an apartment complex or other multifamily dwelling in the Seattle area, you know operating costs are unavoidable.

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Topics: Real Estate Investing 101, Tips for Landlords

Apartment Investing for Dummies: How to Buy and Manage Your Apartment Complex

Apartment complexes have the potential to be valuable investment properties that provide you with a steady income source for many years to come. To achieve that potential, however, it’s crucial to first find the right apartment building for your investment and then take measures to ensure the property is properly managed.

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Topics: Real Estate Investing 101

What the Extended Eviction Moratorium Means for Landlords in Washington

The coronavirus (COVID-19) outbreak has created a hardship for both landlords and tenants throughout Washington state—not to mention the entire nation. To help ease the burden for tenants and provide them with housing security, Gov. Jay Inslee issued a statewide moratorium on evictions that has been extended several times.

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Topics: Tips for Landlords

How to Maximize Occupancy Rate in the Seattle & South King County Apartment Market

Demand for apartments in Seattle has increased over the past decade and is expected to stay strong in 2020, but that doesn’t automatically translate into you achieving high occupancy rates at your apartment buildings.

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Topics: Tips for Landlords

What Does a Property Manager Do?

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.

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Topics: Real Estate Investing 101

COVID-19 Rent Assistance Programs to Tell Your Tenants About

We know this is an unprecedented time of uncertainty and anxiety for landlords and residents alike. Many tenants are suffering from job losses, furloughs and reduced hours, presenting unique challenges for landlords to collect rent and pay their mortgage, taxes and insurance, property management expenses, maintenance and more. Fortunately, there is help available that you, as a landlord, can direct your tenants to in order to collect rent payments. 

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Topics: Tips for Landlords

5 Tips for Collecting Rent from Tenants During COVID-19

In light of the global coronavirus pandemic, one important question is hitting home for both landlords and tenants: What to do about rent?

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Topics: Tips for Landlords

Pet Renting: Deciding Whether or Not to Allow Pets in Your Seattle Rental

Landlords and property owners have plenty to consider when it comes to their rental properties, including the monthly rate per unit, how to keep up with maintenance, and how to promote properties when vacancies arise. However, another important point of consideration that has direct impact on the tenants is the pet policy for each property.

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Topics: Tips for Landlords

[Real Estate Formulas Cheat Sheet] 12 Math Calculations for Landlords

Managing your real estate investment is like any other type of business enterprise. It involves careful record-keeping, tracking income from your investment, and analyzing which expenses are necessary.

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Topics: Real Estate Investing 101, Tips for Landlords

8 Reasons Why Burien Is the Best Place to Invest In Washington Real Estate

Real estate is often viewed as a solid investment choice. Whether your residential or commercial investment property turns a profit, however, depends substantially on where it’s located and how you manage it.

If you want to invest in Washington real estate, it’s important to make your purchase in an area that possesses desirable traits, such as a thriving economy, healthy real estate market, and welcoming business climate.

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Topics: Real Estate Investing 101

Is Seattle a Good Place to Invest in Real Estate in 2020?

Thanks to property prices leveling off between north Tacoma and West Seattle, alongside a robust and diverse inventory cities like Burien continue to be profitable options in the nation to invest in real estate.

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Topics: Real Estate Investing 101

7 Common Problems Landlords Face in Burien

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 in Burien face so that you can try to prevent them from happening and quickly deal with issues when they arise.

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Topics: Tips for Landlords

Mistakes to Avoid When Managing Apartments in 2020

Real estate is a valuable investment, but it’s also a business endeavor. Whether you’re dealing with single-family homes or multiple-unit apartment complexes, careful management is necessary to turn a profit on your investment.

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Topics: Tips for Landlords

A Local’s Guide to Des Moines, Washington Restaurants

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 the best local restaurants you won’t want to miss:

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Topics: Local News

6 Ways a Property Management Company Can Save You Money

Owning a residential or commercial rental property can be an effective way to make money, but turning a profit on that investment is not as easy or straightforward as it may initially seem. There are numerous moving parts involved in making money from a real-estate investment, and less-experienced property owners often make mistakes that have negative financial repercussions.

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Topics: Real Estate Investing 101

How to Find the Right Property Manager in 2020

These days, most investment property owners understand the need of hiring someone to help them manage their property, handle day-to-day responsibilities, and make their lives easier while turning a healthy profit and saving them money.

Many owners, however, don’t realize the importance of selecting the right property manager or how to go about making this critical decision. Without the right partner by your side, you risk increased vacancies, lost rents, and unhappy tenants.

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Topics: Real Estate Investing 101

Real Estate Investing for Dummies: How to Get Started

Owning rental properties in Seattle or the surrounding suburbs can be an ideal way to make a passive income, but it requires an influx of time, money, and dedication, especially upfront.

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Topics: Real Estate Investing 101

Technology That Makes Tenants' Lives Easier

Taking advantage of the current technology available on the market is a practical way to streamline and simplify various aspects of the renting process for both you and your prospective and existing tenants. Here is a brief look at some of the most useful and important technologies that can help make your tenants’ lives easier.

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Topics: Tips for Landlords

New 55+ Living Homes for Rent at Parkview in West Seattle

Powell Communities now has 55+ apartments available for rent in West Seattle, WA. These apartments, located in the Parkview building on the Daystar Retirement Village campus, have four different new floor plans available that were recently renovated and optimized for comfortable 55+ living. 

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Topics: Local News

Property Management Tips for the First Time Landlord

When you undertake a new enterprise, you can expect to experience some type of learning curve, no matter how much research and preparation you’ve done ahead of time. Being a first-time landlord is no exception.

If you intend to become a landlord in Seattle, there are certain lessons that can only be taught through experience and the process of trial and error. However, that doesn’t mean you should go into renting properties blindly. With adequate preliminary research, you can shorten the learning curve, be better prepared to handle issues that arise, and avoid the common pitfalls encountered by property managers and individuals who rent out apartments and single-family homes.

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Topics: Real Estate Investing 101

How to Switch Property Management Companies in Seattle

Within all industries, there comes a time when you benefit from ending a professional relationship. Even though your reasoning may be pragmatic and objective, it's still not necessarily easy.

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Topics: Tips for Landlords

How Much Should I Charge for Rent? Seattle Area Rental Rates

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.

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Topics: Real Estate Investing 101

What to Do with Your Home When You Move Out of State

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?

Consider the pros and cons of renting vs. selling. 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.

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Topics: Tips for Landlords

7 Best Smart Home Devices to Install in 2020

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 to make life easier for tenants and themselves? We’ve put together our top seven recommendations for which smart home devices to consider installing in 2020.

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Topics: Tips for Landlords

How to Know if Your Property Management Company Is Doing a Good Job

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.

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Topics: Tips for Landlords

How to Handle Tenant Emergencies Over the Holidays

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. Knowing how to keep tenants happy is one of the traits of a great landlord, and 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.

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Topics: Tips for Landlords

2018 Holiday Decorating Trends to Look For

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:

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Topics: Tips for Landlords

When's the Best Time to Hand Your Real Estate Investment Portfolio to a Property Management Company

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 (which can save money in a number of ways). 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:

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Topics: Tips for Landlords

The Most Common Mistakes Seattle-area Investment Property Owners Make

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.

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Topics: Tips for Landlords

What Makes a Good Tenant-landlord Relationship?

                                   

Over the years, I have been a tenant as well as a landlord.  Signing a lease for an apartment involves trust and good communication from both sides.  Each party enters a contract relationship with expectations.  

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Topics: Tips for Landlords