There are a lot of good reasons for an owner to hire a property manager, and many of them are well documented.
But one advantage of having a professional manage a rental is that the property manager knows the rental market. Why is that important? Because when market rents go up sharply (like they are doing right now), a property manager knows how and when to raise rents.
If an owner of one rental unit advertises his/her property for rent on, say Craigslist, then there is a better-than-even chance that the property will be under-valued. The owner won’t be aware of just how strong the market is. A property that could fetch $1,500 goes out on the market for $1,200 or $1,300. That difference pays for the manager’s fee AND adds profit. The owner sees a bump in his/her cash flow AND gets free property management! Not a bad deal.
The situation works in reverse when rents drop. A property manager (with the owner’s approval) can offer lower rent to tenants in order to keep them from moving and save on turnover costs.
Why should you hire us?
We are a group of experienced property managers who know how to get you the highest rent for your property. We know how to prepare your rental, how to market it, and the best way to get qualified residents.
We know how to maintain your property, and if there are problems we know what to do and when to do it.
Properties we manage include: single-family homes, multi-plexes, small-mid size apartment communities (75 units or less), and small to mid-sized commercial properties.
Our Management Services Include:
- Preparing your property for rent & lease
- Market analysis to determine the best rents
- Marketing and advertising
- Showing and qualifying prospective residents/tenants
- Lease preparation and signature with inspection prior to occupancy
- Building/Tenant Maintenance Request handling
- Lease renewals and rent increases
- Semi annual property inspections
- Exit inspections and preparation of property for new residents
Other resources and knowledge Professional Property Managers offer that private owners may find useful?
- We are immersed in the business everyday and are aware of all the landlord/tenant laws for your City, State and Federal government. Such as the City of Seattle’s new regulations and ordinances:
- First in Time/First in Line
- Move-in Fee Limitations
- Criminal Record Screening Regulation
- We know rent values, vacancy factors, and the time a property should be on the market in your area.
- We provide complete screening policies that comply with legal and regulatory requirements.
- We work with experienced and reputable painters, electricians, roofers, chimney cleaners, carpenters, furnace and appliance repairmen who are licensed, bonded, affordable and reliable.
- We know how to effectively confront and negotiate with the tenant, and enforce the terms of their rental agreement.
- We have the ability to recover NSF checks, evict tenants, and collect bad debt.