Rental rates affect both tenants and landlords, which is why it’s important to choose your rate carefully. Overcharging for rent could leave you with a vacant property that is difficult to rent out, while undercharging could stick you with extra expenses despite having paying tenants. Correctly determining how much you should charge for rent will help you avoid these problems.
When becoming a landlord, choosing which investment property to purchase may seem like the biggest decision to make. In actuality, the most important decision is who will handle the day-to-day operations of the property as this will determine the overall success of your rental.
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.
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.
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.