Seattle is among the few cities in the country where real estate has fully recovered from the 2008 crisis that affected the country. Here, properties appreciate year after year and investors have a reason to smile all the way to the bank. Investing in rental properties in the area is a booming business because the demand is very high and rates keep on shooting up. However, you need to invest in a reliable Seattle property manager if you want to maximize your gains and grow the value of your investment. Remember that the real estate market in the region has attracted many stakeholders and not all real estate managers are competent. The following are some of the basic tips that you should consider when choosing a Seattle property manager if you want to rest assured your real estate investment is in safe hands.
- Make sure your property manager is certified
Real estate investment in Seattle is highly profitable and it has attracted both qualified and unqualified property managers. It is, therefore, important to make sure your property manager is certified to manage properties in the area. He /she should be licensed by the state to operate in the area as a property manager after undertaking and passing the required property management courses.
- Consider hiring a property management firm instead of an individual
I am not saying that individual property managers in the area are bad. However, it is wise to entrust your property in the hands of a property management firm instead of an individual. Property management firms have more resources that enable them to deliver better services than individual managers do. It is also safe to entrust such a mega investment to a registered company than to an individual property manager.
- The property manager should also be a good marketer
Although rental rates in Seattle are going up here after a year, it is worth noting that the market is highly competitive. It is, therefore, important to make sure you have advertised your property extensively to reach out for possible renters. However, if you have decided to hire a property manager to take care of your properties, it is important to make sure he or she has good marketing skills. This will lower vacancy rates in your properties and you will be able to maximize your properties.
- Consider a local property manager
If you want to increase your chances of finding a good property manager is Seattle, it is better to go for local property managers. I am not saying that foreign property managers in the area are bad, but local managers are likely to give you better services. A local property manager has a better understanding of the real estate market in the area and is in a better position to meet your demands without compromising the expectations of your tenants. A local property manager understands better the rules and regulations governing renting of properties in the area and is unlikely to put you into trouble with the law enforcers.
- Consider property managers with a permanent office and address
Do not be surprised to hear that some of the property managers in the area have no permanent offices and addresses. Some of them operate from their home office or in a shared office owned by someone else not dealing with real estate matters. You need to keep off such property managers if you are a serious investor. A good property manager should have a permanent office that can be accessed at any time without restrictions by your tenants and even yourself. He/she should have a permanent address where tenants can send checks when paying rent and other tenancy related documents.
- Your property manager should be highly reputable
A good reputation is very important in as far as property management is concerned. You need to make sure the manager you are hiring to look after your rental properties is highly reputable. You can ask for reviews from other property owners in the area in order to confirm whether the property manager you are about to hire is a performer or not. It is also worth noting that tenants are very cautious about the person taking care properties they want to occupy and are more attracted to properties under the care of managers with a good reputation. It is common to hear possible tenants say, “this apartment is great, but the manager in charge is the problem.”
If you’re looking for a particular property manager and would like a recommendation I have personally used T-Square Properties to manage my property. They’re a property management snohomish county and they’ve been very responsive to my property and they have a great team to work with.