Every landlord trying to go it on their own has at some point wondered whether their blood, sweat, and tears were worth it. Though hard work is undoubtedly noble, your investment property doesn’t need to require a substantial investment of your time.
Powell Property Management is a full-service property management company serving neighborhoods from Seattle to Federal Way and Auburn, emphasizing Burien, Normandy Park, and Des Moines. Choosing to work with a property can be life-changing for a landlord. If you’re in the Seattle area, reach out to us. We are ready to wow you and your tenants alike with our professional service and consistent results.
Signs That a Landlord Needs Help With Property Management
1. You Do Not Live in the Area
If you need to make a special trip each time a tenant has a small maintenance request, the time commitment to commute to your property impacts its value. You may be attempting to troubleshoot remotely and chase down area professionals to address tenant concerns. Distance from your rental property creates unique but predictable problems.
2. You Are Having Tenant Trouble
Whether you have a high vacancy rate, need to collect overdue rent or fees, or perhaps start an eviction, interacting with tenants can be stressful and time-consuming. These tenant conversations can be highly uncomfortable if they are not part of your everyday routine. Many of our current clients cite our expertise in selecting and keeping great tenants as a considerable benefit to working with us.
3. You’ve Received a Notice of a Violation from Your Municipality
Many new or inexperienced landlords are unaware of local requirements for rental properties. Every city, village, and town operates uniquely, enforces different rules, and requires different kinds of documentation from landlords and tenants. We are experts in satisfying all local regulations for rental properties, such as inspection and permitting.
4. You are Overwhelmed by Maintenance or Upkeep
The fatigue from responding to every clogged garbage disposal and running toilet has sent many landlords our way. Little trips add up quickly. Property management companies perform and schedule maintenance as part of their service. Many of our clients and their tenants love the access to reliable and well-vetted maintenance service that working with a property management company affords.
5. Your Investment Isn’t Profitable
Whether you have set your rent too low or are sinking too much money into maintenance costs, you may need expert help in evaluating your specific situation and correcting the course. Powell Property Management prides itself on its track record of profitable long-term results for our clients.
6. You’re Just Plain Overwhelmed
No matter what aspect of being a landlord is taking up most of your time, if you feel you are spending more time, attention, and energy than you bargained for, it may be time to hire a property manager.
What Does a Property Manager Do?
We have addressed this topic at length in our blog, What Does A Property Manager Do? Common property manager duties include:
- Preparing your property for rent
- Marketing and advertising
- Showing and qualifying prospective tenants
- Lease preparation and inspection before occupancy
- Lease renewals and rent increases
- Maintenance and repairs
- Semi-annual property inspections
- Monthly financial services
- Exit inspection and preparation of the property for new residents
How Much Does a Property Manager Cost?
The cost of a property manager depends on whether a property is residential or commercial and other market-specific factors. Property management companies generally charge about ten percent of the total monthly rent for their services, though specific fees depend on the company.
Also, consider that a property management firm may be able to bundle services and secure a better price than an individual landlord may be able to find for maintenance needs.
Choose The Property Manager The Greater Seattle Area Trusts
Our team at Powell Property Management has been managing commercial and residential properties in the Seattle area for decades. We would love to manage the day-to-day needs of your rentals to protect your investments for the long run. We offer our expertise in marketing, tenant vetting, payment collection, and maintenance for your property to deliver quality professional support for your tenants and peace of mind for landlords. You don’t have to sink your free time into your investment for it to perform well.
Contact us today to hear more about how our property management services can benefit you!