Do you know how to make money from a rental property? If you're considering your first investment property—or you recently inherited a property—you need a plan to make it profitable! Making money from a property portfolio isn't as easy as you might think. It's more than simply finding a renter and collecting the rent!
When you own investment properties in Seattle, you don't need to be an expert from day one—or even on day 365! The best Property management Seattle has to offer can manage your first (or next) property as your experts from the beginning and beyond.
What does it take to manage a property in Seattle? It's a combination of three key areas: Marketing, Maintenance, and Management.
If it ain't broke, you probably don't need to pay any attention to it, right? With rental properties, that saying is rarely true!
- Your investment property is a significant asset.
- As with anything of value, you want to take good care of it to make sure it stays in excellent condition.
- As a landlord, you also need to provide a safe living environment for your residents.
Property maintenance is much more than merely fixing things that break when your residents let you know about a problem! The excellent property management Seattle
has to offer will always suggest regular inspections and preventative maintenance
before something has become a full-blown problem. Long term, this saves you money as the investor!
- One of the best ways to save money on expensive repairs is to check in on your property throughout the year.
- Prepare your rental for the changing seasons and other issues that can come as a result of neglecting simple home maintenance tasks.
- If you don't live near your property—or you don't plan to make a switch from your full-time job to being a landlord—you need help to keep up with scheduling and performing inspections and maintenance.
When you hire the best property management Seattle can provide, you have a team that handles these critical tasks for you:
- Detailed inspections for move-in and move-out
- Certified Maintenance Technicians on staff for property routine maintenance or repairs
- Inspections mid-lease to ensure ongoing maintenance
- Full-service maintenance management reduces owner headaches.
When you don't have the time to do these things yourself or schedule outside contractors, your property can fall into disrepair. Relying on the professionals in Seattle management removes those issues for you while keeping your property in great shape!
What about those middle-of-the-night emergency calls from your renters? When a pipe bursts or a toilet breaks on the weekend, someone needs to answer that call and repair the problem right away.
Thankfully, the best property management Seattle can provide will always have a maintenance team available to solve emergency issues—24/7! They handle the calls and make the repairs so you and your residents can rest easy.
After marketing and maintenance, there's still plenty left to do to make sure you have a profitable rental property! Check out what the experts in Seattle property management provide for your rental home:
- Your resident management relationships start with the screening process.
- A potential renter can have a glowing application and seem like a nice person when you meet them.
- However, without a thorough screening process, you won't know if the ink on their paperwork and their smiling face accurately represent who they are!
Excellent resident management also includes:
- Timely rent collection, including providing an online rental payment system
- Quick resolution for late payments
- Handling resident requests promptly
- Enforcing the rules according to the lease agreement.
As much as you hope your residents will always pay the rent on time and never break any rules, landlords still have to be proactive about making sure that happens.
Seattle and Beyond
Seattle has plenty of restrictions and regulations for landlords to follow these days. Rental property owners must also follow state and federal regulations for screening potential renters, responding to reasonable accommodation, and providing a safe place to live.
It can be challenging to keep up with the changing legal landscape when it seems like some new restriction is handed out every year! However, an expert Seattle property manager helps your properties by coordinating the day-to-day management that keeps your properties operating comfortably within the law. It's just another reason why finding the best property management Seattle has to offer is so crucial!
- How do you know if your property is making money?
- Have you paid all of your rental property bills this month?
- Are you on track to meet your long-term financial goals?
These key questions are still a part of your rental property management!
When you work with the best property management Seattle can provide, your property management expert tracks your income and expenses and makes sure you see regular financial reports. You should never have to wonder about the status of your financial goals!
Don't Let Your Properties Manage You!
Your rental property can quickly get away from you if you don't have the time or skills to stay involved day-to-day. If you find yourself struggling to find good residents—or to make a profit from your property—seek out the best property management Seattle has to offer and get yourself back on track. However, don't settle for "just any" property manager!
Real Property Associates has been Puget Sound's property management leader since 1991! Our approach helps rental property owners see financial success from your investments while freeing you from the day-to-day management tasks that cost you time and money.