Property Management Resources Blog

Whether you are looking to purchase a rental property or find your new home as a renter, understanding the current climate of your local rental market gives you the information you need to make the best moves possible in 2023. 

When evaluating your options for expanding your investment portfolio, purchasing an apartment complex is often suggested as a smart way to diversify your holdings. Whether you’ve got the capital to make the purchase alone or are planning to pool your resources with an investment group, understanding the ins and outs of operating an apartment complex is a prerequisite.

Managing your own investment properties isn’t always the most efficient choice. Maintaining your investment with a property manager’s expertise can boost your bottom line more than expected. A professional property management service enters with established processes, professional connections, and an understanding of your market. Whether you’ve newly purchased a property or are currently operating one, your multi-family complex investment doesn’t have to consume your valuable time or any more of your other valuable resources than necessary.

Whether you’re expanding your diverse real-estate portfolio or dipping your toe into investment property for the first time, the hunt for the perfect multi-family property is exciting and overwhelming, especially when properties sell quickly. Hot markets incentivize quick decisions, leading to unforeseen expenses and problems unless a prospective buyer understands how to apply a discerning eye.

You’re interested in adding an apartment complex to your investment portfolio, but there’s plenty to learn about managing a multiplex before you decide if this kind of commitment is right for you. Managing a multi-family residential building requires a unique skill set of construction skills, marketing, customer service, and financial savvy. Of course, owning a multi-family residential doesn’t obligate you to manage it. Professional property managers near you are situated to step in with their established expertise.

It’s time to get serious about your investment portfolio. If your current investments are lacking a real-estate component, you are missing serious opportunities for profit. Investment groups and savvy individual investors alike see a solid return on investment when they acquire multi-family investment properties in desirable markets.

The tenant in 2C says the toilet runs continuously. Four people would like to see 4A this afternoon. 1A is upset that 3B has an unreported dog that barks too much. Managing an apartment complex presents unique and constant challenges and time demands. Your phone doesn’t have to ring about any of it. A property management company can handle daily drama and maintenance needs and keep your investment profitable.

Are you a future landlord? If you’re looking for just the right thing to round out your investment portfolio, an apartment complex could be a good fit. When it’s time to weigh to pros and cons of investing in multi-family rental units, it’s best to talk to the people that know the most about it. 

Buying an apartment complex can be an exciting and savvy investment. Whether this comprises one element or the lion’s share of your portfolio, sound advice and good management can maximize the return on your investment in multi-family real estate.

Many tenants express concern about mold and air quality when choosing their next apartment. You could deter quality tenants by showing a property with visible mold or by being unprepared to answer their questions about mold on the property or mold removal policy. Further, you could seriously jeopardize your NOI (net operating income) with a recurring maintenance expense if you don’t correctly remediate the mold you find. Capitalize on your investment apartment property by keeping mold at bay.

You are tired of showing your property to people who do not follow up or pass a background inspection. It’s time to get serious about social media marketing for your rental property. Your old ways of getting the word out about your rental units aren’t making the phone ring as often anymore.

Modern tenants search for rental properties the way they search for everything: online. Whereas many natural leads used to come from advertisements in public spaces, many digital advertisements now perform the same function. When was the last time you saw a tear-away phone number advertisement tacked to a public bulletin board? They aren’t around as frequently as they used to be. Though we still recommend community advertising, you will miss out on an entire market sector if you neglect your online marketing.

It’s time to get your rental property photo-ready! The first step to finding a fantastic tenant for your rental property is to showcase your property with the best advertising possible. Savvy tenants scrutinize the photographs on rental listings for details. Appealing pictures highlighting your assets will attract attention and widen your pool of applicants. Many renters will not pursue a property that does not include photographs, as this can be a sign of a rental scam at worst and a variable bet at best.

From heart-breaking dog attacks to staircases that collapsed under tenants, accidents and injuries on a rental property always begin a discussion of liability. Who is responsible if someone gets hurt? We have seen and heard some true horror stories over the years, and we would hate for any landlord or tenant to end up in a contentious legal situation where a little prior knowledge could have stopped the trouble before it started.

If you’ve noticed your rental property offers competitive amenities below market price, it is time to raise your rent. Raising the rent is often part of being a good steward of your investment, even if the thought is uncomfortable for some landlords. We’re so glad that you’re doing your research so that you can design your rent increase for optimal results and we’re happy to use our expertise to help.

Your rental property got another ticket from the city you don’t understand. You can’t seem to find and keep quality tenants, though you have plenty of applicants. You’ve paid three plumbers, but no one seems to know what to do about the basement drain. If these expenses are adding up and worrying you, you aren’t alone.

You’re exhausted by your search for the perfect rental. Your old lease is up soon, and you’re in a rush to find your new home. Suddenly, the ideal place floats across your screen. The photographs are gorgeous. It has everything you’re looking for and a few things you didn’t dare to include on your list. The location is perfect. It’s actually on the lower end of your budget. Your heart is beating in your ears. What if this was it? You reach out to the landlord and hear right back. They are out of the country on business and in a hurry to fill their space with a responsible party such as you. Would you like to move in next week? Could you please wire $2000.59 to this account based in Nigeria? Your gut tells you this is a scam. But what if it isn’t? You have already pictured yourself floating in the pool and waking up bathed in gorgeous natural light. 

Don’t do it. It’s a scam.

Your tenant’s checks are bouncing. You notice some tenants' rent has been straggling in later and later as the COVID pandemic drags on. More landlords than ever before are considering offering online payment options for their tenants and many tenants report that they prefer to pay their rent online.  It might be easier to convert to an online rent payment system than you think.

Whether you’re in the market to hire a property manager for the first time, or looking to improve or upgrade your current property management services, focusing on the relationship between the landlord and property management company is wise. Improving the landlord and property manager relationship is likely to lead to increased tenant satisfaction and a harmonious and profitable daily experience for everyone involved.

Real estate is both a valuable asset and 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. Our experience managing apartments spans over 100 years. Much has changed in the landscape of managing American apartments, but our expertise has evolved with the times. 

Seattle is not the only area experiencing high demand for housing, but it certainly is among the hottest growing markets in the United States. Given this growth, many have considered selling off unoccupied or investment properties. However, the high demand for rental units will be sustained for the foreseeable future by the large proportion of renters in the area and the limited number of rentals available.

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.

With the current high demand for housing in the greater Seattle area, the urge to sell off unoccupied or investment properties in 2022 is completely understandable. That said, there continue to be both long and short-term benefits to entering or remaining in the rental market.

Managing a residential rental property requires planning, research, and know-how. While we can never fully predict the future, best-practice budgeting and understanding the costs of managing a property will reduce headaches and nasty surprises for both property managers and tenants by ensuring that there is money in the budget if something unexpected occurs.

As you make the transition to a landlord, one important thing to keep in mind is insurance. Likely, you already have property insurance whether it’s built into your monthly mortgage or a stand-alone payment. But what about landlord insurance? Is it something you need, or is it an unnecessary secondary expense? Here's what you need to know about landlord insurance vs homeowners insurance and whether it’s right for you.

Many people around the country consider pets a part of the family, but pets can present their own kinds of challenges within a home. So the question is -  should you offer pet-friendly apartments or should you stick with a strict no-pet policy? Before you decide on the option that suits you best, here are some details to keep in mind.

Whether you own individual homes or an apartment building, real estate is an excellent investment. However, one of the biggest expenses to any property is maintenance. If you wait for something to become a noticeable problem before attending to it, you'll run the risk of both alienating your tenants and having to pay extra to repair bigger problems. The best way to prevent this from happening is to practice proactive maintenance. Here are a few landlord tips and tricks you’ll want to follow for all of your proactive maintenance needs.

The further you dip your toes into the world of rental property the more you'll discover just how much work it takes. With just one rental home, it is likely you performed much of the upkeep, tenant screening, and other basic services yourself.

Rental properties make excellent additions to any investment portfolio. A quality tenant is worth their weight in gold as they will respect the property, abide by the rules, and pay their rent on time. However, finding the best tenants isn't a one-way street. If a tenant is not treated with respect or taken care of, they will leave and find another landlord who understands the importance of excellent renters and keeping them happy. But how exactly can you keep a tenant happy, or even attract them to your rental property? Here are ways to avoid the dreaded housing turnover and find the ideal tenant.

It's been an interesting year in the Seattle housing market - rental prices have fluctuated while the demand for single-family homes has increased.

However, now that things are getting back to somewhat like normal, conditions may be set to change yet again. Here's a look at the top 5 rental trends in Seattle for 2021.

Long before potential tenants ask for a tour, in this market you need to learn about outside amenities and upgraded features you can install in units to enhance curb appeal. When potential tenants visit a possible new home, they are going to inspect a property not only to see if they want to live there but also how well you keep up your property. At a minimum this is what good tenants do, so be ready for your property to stand out from the rest to attract the ideal resident. Tenants who don't care about the property, what it looks like, or how it's cared for are less likely to appreciate what you offer, and may not treat it with the level of respect you'd like.

As a property manager, your time is valuable. You have a lot of things to worry about from drawing in new high-quality tenants to keeping your current tenants happy. One of the most powerful ways you can do both of these things at the same time is to take good care of your property's landscaping. Quality landscaping makes your rental property a nicer place to live. Best of all, good landscaping is a great way to boost curb appeal and that's a win-win for everyone.

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.

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 the legal and rental documents need for your lease agreement.

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.

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.

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.

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 task 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.

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. 

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.

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. 

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 (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:

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.

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.