You probably chose real estate because you can earn a significant income from investment properties. With expert Seattle rental management, you have the potential to make even more money than you would otherwise when trying to juggle everyday landlord tasks and your day job at the same time.
- Many property investors have full-time careers.
- They see property investing as a lucrative "side gig" that can bring in passive income while they continue to work their day jobs.
- However, most investors quickly find that multiple properties are more work than they expected.
Managing a Seattle rental property to profitability can be a simple concept—buy a good investment property and make enough money from the monthly rent to see a profit.
However, making that concept a reality is a lot of work! It requires experience and knowledge that most people don't have without on-the-job training. It's also not something you can do a few hours a week or on a weekend if you want to make serious money—or grow your portfolio.
For this reason, working with Seattle rental management is one of the best investments you can make to grow your wealth through real estate! Keep reading to learn why.
Isn't Property Management an Expense?
Hiring professional property management in Seattle does require fees for their services. However, most investors find that a property manager helps improve their bottom line through the expert management of their properties!
How Much Is Your Time Worth?
It's often easier to think of the value of your time in terms of saving money. If you fix a maintenance problem yourself, you'll save the money you would spend on an expensive contractor, right?
Have you factored the cost of your personal time? If you spend six hours fixing something a plumber can fix in one hour, you've overspent on that maintenance project. When considering the monetary value of your time and the many landlord tasks that come with investment properties, paying a professional to manage your properties is the better way to save money and increase your profits.
When you allow professionals to take over the tasks required to make your properties profitable, it's worth the boost to your long-term wealth. Seattle rental management handles everything from:
- Listing your property
- Screening for quality residents
- Inspections on move-in and move-out day
- Routine and emergency maintenance
- Collecting the rent on time
- Keeping track of expenses and income.
If that list of to-dos sounds time-consuming, you're right! Being a landlord—in addition to being an investor—is a full-time job. Do you have the time to tackle all of those things for your investment property? If you're building a portfolio with more than one property, there aren't enough hours in the day to work your day job, manage your properties, and sleep.
Investing in property management in Seattle allows you to keep your time for more important things, like rest, recreation, and spending time with family and friends!
Do You Know Your Landlord Laws?
There is no need for property investors to deal with the stress of maintaining the condition of your properties, dealing with renters, and keeping up with changing landlord-renter laws.
Seattle's City Council recently passed new legislation for evictions during the winter months. A professional property manager stays on top of these kinds of laws and helps determine if and how new regulations affect your investment properties and residents.
You have plenty to keep up with, between your day job and a busy life with family and friends. From Fair Housing laws to reasonable accommodation, security deposits, and evictions, the right property manager makes sure you stay compliant with all landlord-renter regulations.
You "Can," but Should You Do It Yourself?
- You might be a handy person who is good with tools and home repairs.
- Maybe you enjoy the feeling of seeing a rent check in your mailbox every month.
- While we don't want to question your skills or steal your joy, should you do the daily landlord tasks for your Seattle properties—just because you can?
Many property owners love the income that comes with real estate investments, but dealing with residents and maintenance issues is almost enough to make them get out of property investing. Being a good landlord requires people skills when it comes to chasing down late rental payments, dealing with resident complaints, or enforcing the rules of the lease agreement.
When a resident breaks the rules in the lease, you don't have to be the bad guy! We have processes to work with renters when something happens that requires a penalty fee and corrective action from a resident. We chase down late rent payments and handle renter complaints and disputes, so our property owners don't have to get involved.
Working with Seattle rental management provides a buffer between property owners and residents!
Smart Investors Know It's Smart to Invest in Property Management!
Cutting costs or DIY efforts aren't always the best way to make more money from investment properties. Smart investors understand that hiring a property manager is a smart investment in their long-term wealth!
Working with Real Property Associates is one of the smartest choices you can make to get more income out of your rental properties. We handle daily landlord tasks and manage your properties to build the profit you need for your big picture goals. To get an idea of what we handle, take a look at our free Make-Ready Checklist! It will give you detailed insight into what we look for as your Seattle property management professional.