Property Management Resources Blog

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Proactive Maintenance: 6 Things Every Landlord Should Do

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.

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

Average Property Management Fees in Washington: Residential & Commercial

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.

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

How To Keep Good Tenants Happy

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.

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

Top 5 Rental Trends in Seattle for 2021

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.

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

Curb Appeal: 2021 Rental Property Exterior Trends

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.

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

5 Valuable Landscaping Hacks For Your Rental Property

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.

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

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

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

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 the 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 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.

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Topics: Tips for Landlords

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

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

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

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

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

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

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