3016 Benson Rd S, Renton, WA  98055 - (425) 277-1500
 
Landlord Q&A
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Q. How can I evaluate the real cost of property management?
A. Unquestionably, the largest expenses associated with property management are a result of vacancy rate and quality of tenant performance. Only by comparing the resources and services that address these concerns will one come to an understanding of the cost that may result from choosing one property management company over another. We invite you to consider the following:

The great majority (90%) of perspective tenants now use the web to find a new home. Every management company recognizes this fact, so all have web sites to compete for market share of perspective tenants. It is also important to know that people choose "organic" search results over "paid" placement advertising. Renters Marketplace absolutely overwhelms all other residential property management companies in ALL of the Puget Sound cities on ALL of the search engines. Search on the primary key phrases that tenants use to locate homes for rent. (Example: "Seattle property management", "Bellevue homes for rent" on Yahoo, MSN, All the Web", Google, Alta Vista, or any other search engine.) Try the same key words with any of the fifty common city names such as Renton, Kent, Woodinville, etc. We receive over one million hits per month so our top search engine placement gives our owners an overwhelming advantage for having their rental properties found by thousands of prospective tenants. That translates into less vacancy cost and a better opportunity to select a qualified tenant.

Also, we have a sizeable leasing staff that allows us to be handle the volume. We rent about twenty-five percent of our homes while our competitors are taking the weekend off.

Q. How much do property management services cost?  
A. The minimum management fee is $49 per month or eight percent 10% of the rental amount, whichever is more.  In addition to the monthly management fee, an owner should expect the equivalent of one month's rent per each new tenancy for advertising, lease-up commissions, photo tours, and move-out and move-in home inspections. Use of the Multiple Listing Service is optional and but highly encouraged, the more people that see your property the better.  The charge for a lease-up is only billed after a tenancy is executed.  We expect full payment of the lease-up commission at the time of lease signing.

Q. What are the current market conditions for renting a house?
A. The Puget Sound economy is strong, people are moving in record numbers to most all of the cities, there has been strong appreciation of property values, and most economists predict continued strong growth in population. With the dollar weak on the international exchange rate, foreign investors see value in buying U.S. real estate. However, this good news must be tempered because investors are purchasing single family homes in record numbers and flooding the market with rental properties. As a result, occupancy rates and rental incomes have remained stagnant over the past two years. More then ever before, aggressive marketing and a knowledge of the rental demographics for each specific area of the area is necessary to minimize vacancy.

Q. How long will it take to rent my house?
A. There are multiple factors that have to be taken into consideration to answer this question. Here are some general guidelines, however, keep in mind that amenities, pricing, and location are important factors in predicting success. It is important to know that the time required to rent a property is region specific with some areas renting relatively quick and others continuing to be a challenge. Several management companies are now advertising "no Deposit", "bad credit OK", lease option with no qualifying", "no rent payment for 30 days", etc. We believe that renting to an unqualified tenant is nearly always a big mistake and that you may pay dearly for that mistake in the very near future. We encourage high qualifying standards for tenants with the price set to rent the property within 30 days. Because of the uniqueness of each home, we will work up a rental market analysis for you at no charge.

Q. If I place my home in property management, how much control do I have in making management decisions.  
A. As much or as little as you want. Take for example maintenance decisions. Most owners place $300-$500 in a maintenance trust to be used in case of minor repairs. They don't want to be notified every time a faucet leaks. However, if there is a more expensive repair, they do want to be contacted and involved in evaluating the bids and choosing the vendor. We will work out an understanding with you about the degree to which you want to be involved in tenant selection, maintenance and repair issues, setting rental rates, etc.