Seattle Property Management

Seattle is one of a few major metropolitan areas with continuing escalation in real estate prices, but the pace of the escalation has changed in recent months. Many Sellers are in a wait and see mode. They do not want to reduce their sales price and instead are calling local Seattle property managers to place their homes on the rental market. In addition, October through February is a slow time of year in Seattle for rentals. Bottom line, property managers have to work hard to earn their pay!

According to Thomas Wilkerson, with Circle Point Homes Real Estate, this market distinguishes the good property managers from the average or below average property managers. In a hot rental market, any property manager can find a tenant. In a more moderate market, it takes a seasoned property manager to meet your needs. Wilkerson explains that you have to find a company who can place good tenants and has a well-established infrastructure in place to ensure your property stays in good working condition at a reasonable cost.
Wilkerson provided this additional insight into the Seattle rental market:

  • What has changed recently?
      • More sellers are placing their homes in the rental market
  • How long does it take to find a tenant?
      • <$1000/mo = within a week
      • >$1000/mo = 2-6 weeks
  • What fees are typically charged?
    • 7-10% of rent, out-of-pocket costs
      Circle Point Homes Real Estate charges a competitive flat fee
  • What is a typical rental price for a 2-bedroom unit?
    • average- $1905 a month*
    • range- $1150-$2485 a month*
      *from Circle Point Homes Real Estate website

Property Management is one of the fastest growing sectors of the real estate business. How do you sort through the choices to find a good property manager? Two tips Wilkerson provided are

1) get landlord references and check them out diligently, and

2) evaluate the attention you received when you ed the property manager, how quickly did they respond to your questions? Now more than ever, the Seattle market demands a property manager with experience and skill to handle the property owner’s needs.
If you are looking for a property manager in Seattle, Bellevue, Lynnwood, or Medina, please visit:
Seattle Property Managers
The staff at Halby would like to thank Thomas Wilkerson for his candid assessment of property management in Seattle, WA.

If you are a property manager and we like to share information about your home market, give us a call at 888-238-8948

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