Perhaps you’ve been thinking about looking for a better King County property management company, but you hesitate to make such a change. After all, your finances and your investment property are important, and change can be disruptive.
Perhaps you’re planning to retire to a warmer climate or a city that will put you closer to the grandkids. Whatever your future plans entail, you’ll need to decide what to do with the Puget Sound home that you no longer plan to occupy. While selling it seems like the natural solution, you might want to consider renting it out. Becoming a real estate investor could provide you with some extra money during your retirement.
Property management fees are going to vary depending on factors, such as how many properties you’re asking a company to manage, whether they’re single-family homes or multi-family units, and the scope of services you’ll need. Each management company structures their fees in their own way. You might find yourself paying an all-inclusive flat fee or a percentage of the rent that’s collected. You might have options to add upgraded services to the regular list of tasks that a property manager performs.
Moving is stressful, and to provide a great rental experience for your tenants, try and make the move-in and the move-out process as simple as possible. They will appreciate that you care about their needs, and they’ll be more willing to work with you on things like security deposits and returning the keys.
Vacancy is expensive, and landlords don’t want to lose the rental income that disappears when a property isn’t occupied with a tenant. Keeping vacancies low is an important part of your investment strategy, and there are a few things you can do to reduce the amount of money you’ll lose on a vacant King County rental home.
To be an excellent landlord, you need to understand the responsibilities you have to your tenant. You also need to understand the legal requirements of renting out a property in Washington. These laws change all the time, so make sure you’re educated and up to date. Otherwise, you could find yourself making avoidable and expensive mistakes.
Lisa Brannon
Joe Brannon
Sarah Elemendorf
David Helmer
Lindsay Pollard