Owning Seattle rental properties doesn't make you a successful real estate investor. Success doesn't come without a significant amount of work.
How can investors manage and balance these competing needs for success? Following expert advice and working with professional Seattle property management services is the key to success for your real estate investments!
Many property owners in the Seattle area can scrape by on their own effort. They find time to do enough for the properties and renters to generate some profit—but is the effort worth the income? If you find yourself working hard for your rental properties without the return you hoped you'd receive; you could be selling your success short as an investor.
Why is full-service property management the best way to grow your rental property profits? The Real Property Associates team has put together a few tips to show investors what they're missing without expert tips and professional property management! Follow this guide to make sure the effort that goes into your properties yields the return you need to grow your long-term wealth.
Property investors can benefit from expert help in a couple of ways: following their advice and hiring them to manage properties and renters. If you're starting as an investor, expert insight can help you get going on the right foot. However, when it's time to grow your real estate investment portfolio, or you want to take your free time back for yourself, hiring a property manager is the best way to make more money and regain your time freedom.
Expert Seattle property management has already been there and done that! We know the pitfalls to avoid and the best practices to adopt for success. Learning from professionals can help you find better renters, set the right rental price, and put rules in place to build good, professional relationships with residents.
When you enjoy a taste of success as a rental property owner in the Seattle rental market, you might want more. However, managing rental properties quickly becomes a full-time job (and suddenly less passive) if you want significant income to build your long-term wealth. A little bit of success can be manageable on your own, but more success is easier (and more rewarding) when you invest in the right full-service property management company.
We do it all! From rent collection to renter relationships and maintenance requests, you enjoy the income—while we do the work!
You might need to improve the quality of your rental property listings.
Think about what encourages you to purchase an item you see first online: if the photos or item descriptions don't entice you to look closer, you keep scrolling by.
The same thing happens when your property's listing isn't professional-level quality. Seattle-area renters are smart! They won't waste time clicking an online listing for a rental property if the photos are poor quality and the description isn't compelling. Improving your listings with professional photos and listing text that grabs your next resident's attention can reduce the time your property sits vacant. Better-quality listings also attract high-quality renters.
If you're not sure how to create better property listings, your Seattle property management company can do it for you!
Does the quality of your renters really matter? If you have someone living in the property who pays the rent (most of the time), that's good enough—right?
Well, if you want to be a successful Seattle real estate investor, that kind of renter is not good enough to preserve and provide your long-term wealth. If you've ever dealt with a bad resident, you already know the importance of choosing high-quality renters before they move into your property. Once a renter moves in, it's difficult to legally evict a bad resident when things start to go wrong.
Successful investors know it's never wise to settle for a less-than-ideal renter—even if it takes a few weeks to find the best new resident. Finding high-quality renters requires patience and a thorough screening process.
We talked about how a high-quality listing helps bring in better applicants for your consideration—but that's only the beginning of the selection and placement process. Even if an applicant looks excellent on paper, investors shouldn't skip a thorough screening process to make sure that first impressions are accurate.
A thorough (legal) screening process gives investors a complete picture of potential renters. The process should include:
With in-depth information about a potential resident, you'll know if they have the potential to be an excellent renter—or if they have a history of evictions and bad credit that tells you that they aren't a good fit for your Seattle home rentals.
Screening renters helps protect your property and income. If you're not sure how to conduct a thorough renter screening—within the law—expert Seattle property management services are the right choice to make. If you're dealing with a bad renter that needs to go, your property manager can also handle the eviction process for you—according to current regulations.
Even when residents take excellent care of your properties, investors still need a professional maintenance plan. Keeping your properties at their best and responding to renter maintenance requests and emergencies is a year-round job. With the right maintenance plan in place, your rentals stay in top condition—and your renters stay happy!
If you find your property isn't as appealing to renters as it once was, it could be time for upgrades. However, not every update is a wise investment. Working with a professional Seattle property management company means you have professional maintenance on-hand, and an advisor to guide you to the best rental property upgrades that pay off!
Real estate investors are never too far away from more success in the Seattle area. Our expertise and insights here can help you step up your investment game—but for best success and more income, it's time to hire a professional Seattle property management company!
Real Property Associates knows the challenges of owning rental properties in Seattle. Managing the demands of a portfolio on your own can be time-consuming and disappointing when the work you put into your properties doesn't translate into better profits. You don't have to do it on your own! Let our team take care of everything while you enjoy more income.
We create professional-quality listings, screen and place high-quality renters, manage every detail of rent collection, and handle all preventative, routine, and emergency maintenance. If a renter situation isn't working out well, we also take care of evictions according to current regulations in Seattle.
Not every property manager can boost your success! Choose the best team to trust with your properties and income! Contact Real Property Associates to learn more about how we can help boost your real estate investment earnings.