Bellevue Property Management Services
What is Property Management?
Property Management is the daily oversight of real estate investments by a licensed Washington state broker to manage routine tasks and preserve the value of the property while generating income. This includes, but is not limited to:
- Diligent rent collection and delinquency management
- Owner portal with 24-hour access to account information
- Thorough approval of all vendor invoices
- Online maintenance requests for residents
- 24-hour emergency on-call services
- Licensed Leasing Agents assigned to your property
- Monthly and year-end financial reporting
- Stringent move in and move out documentation process
- Strict adherence to Landlord Tenant Laws
At Lori Gill & Associates we pride ourselves on integrity and keeping our clients’ best interest as our guiding principle. We are strictly focused on Property Management & Leasing Residential and Commercial properties throughout the city of Bellevue. With over 20 years in the industry, we use our vast knowledge of market conditions, landlord tenant laws and property maintenance to provide you with excellent service. As an industry leader we work hard for our clients and for each other. Our culture is collaborative and supportive so that everyone succeeds. Let us help you protect your Bellevue investment.
Property Management Services We Provide for the Bellevue Area
Navigating the Bellevue rental market can be overwhelming. When you partner with Windermere Property Management / Lori Gill & Associates, our team will guide you through every step of the way. Between our Lease Only and Full Management services, we can address your specific property leasing needs.
A professional property manager can become one of your greatest assets, second to the property itself. Securing a good quality tenant, 24-hour emergency on-call service, and expert knowledge of Washington State Landlord Tenant Laws and Bellevue regulations are only some of the benefits Windermere Property Management / Lori Gill & Associates provides.
Commercial representation is key in maximizing your interest. We pride ourselves on our diverse background and experiences to provide the highest level of Commercial Real Estate services in Bellevue to best accomplish our clients goals and aspirations. We oversee all aspects of the management process to maximize your ROI, secure high value Tenants and Leases to achieve your Properties goals, and pursue the best Bellevue location to promote your business strategy
Buying a Rental Property in Bellevue
With your expressed interest in purchasing investment property in Bellevue, it is our mission to partner with you and your sales broker to make your dream become a reality. Real Estate has proven to be a stable and successful investment throughout the Bellevue Area for decades. We can provide you with stress-free management, rental market advice, and support throughout the entire process. We offer comprehensive property management services including complete vetting of applicants, a detailed lease written by the best landlord/tenant law attorneys in our state, thorough move-in condition reports with photography, regular periodic visits to the property, and complete accounting. Whether you own a single home in Bellevue or a growing investment portfolio, your property manager will continue to provide you with professional guidance by annually reviewing each property for rental adjustments based on vacancy rates and market demand. We place a very high priority on reporting to you, our client, any significant legal developments that affect the rental housing industry and advocate for housing providers whenever we are afforded the opportunity to do so. Your lease rate is going to be determined by several factors including the condition of the property, location, and the rental rates for competing homes in the immediate area. The best way to receive an accurate market value estimate is to speak with one of our Property Managers who can perform a detailed market analysis for you. Please keep in mind that we can be more accurate with an analysis if we are able to view your home in person, rather than performing the analysis “on paper”.
Bellevue Rental Rates
We provide mid-year and year-end statistics based on our rented properties. A 2-bedroom home on the Eastside rented for an average of $3074 ($2.36 per square foot) and an average of 21 days on market. A 3-bedroom home on the Eastside rented for an average of $3880 ($2.08 per square foot) and an average of 23 days on market. A 4-bedroom home on the Eastside rented for an average of $4745 ($1.79 per square foot) and an average of 19 days on market. A 5+bedroom home on the Eastside rented for an average of $6123 ($1.56 per square foot) and an average of 30 days on market.
A studio condo on the Eastside rented for an average of $2134 ($3.43 per square foot) and an average of 5 days on market. A 1-bedroom condo on the Eastside rented for an average of $2010 ($2.71 per square foot) and an average of 15 days on market. A 2-bedroom condo on the Eastside rented for an average of $2958 ($2.53 per square foot) and an average of 28 days on market. A 3+bedroom condo on the Eastside rented for an average of $3230 ($2.26 per square foot) and an average of 21 days on market.
Why Hire a Property Manager?
The most common answer we hear from owners that have tried managing a home on their own was that they had no idea how much work it really was. Owning an investment property in Bellevue needs to be looked at like a business. We see owners that have a hard time taking the emotion out of the process. For example, there may be sentimental value attached to a mural on the wall which should be painted over. In other cases, it’s good to have a buffer or “messenger” to communicate difficult decisions to a tenant. It can be a number of things. We at WPM/LGA are here to be your advocate and to provide you with a third party perspective as well as handle all of the tasks involved in managing an investment property, including those middle of the night calls when an emergency arises. Also, there are numerous laws to follow and timelines to abide by per Landlord Tenant laws. We are well versed in these practices and follow them as outlined per the law.
Skills That a Landlord Needs
The following skills are imperative to your success as a Landlord:
- Effective communication
- Clean-cut organization
- Marketing: advertise properties, write property descriptions, social media
- Customer service skills
- Extensive knowledge of Landlord Tenant Laws
- Money management: incoming rent, security deposits, expenses
- Assertiveness and confidence
- Timely maintenance and Vendor management
- Business mentality
- Property management experience
About the Bellevue Area
Bellevue is a suburb outside of Seattle and one of the largest cities in Washington state with more than 150,000 residents. Bellevue is safe, walkable and easily accessible. It is home to many major employers including Puget Sound Energy, Symetra Financial. Microsoft, Boeing, T-Mobile, Verizon, Expedia, Nordstrom, Overlake Hospital, Group Health Medical Center and Bellevue College. With 61 percent of adults over age 25 having a Bachelor’s degree or higher, Bellevue is considered to have some of the most highly educated residents in the state. Bellevue is also extremely diverse, with minorities making up 41 percent of the population in 2010. There are also more than 100 different languages spoken at Bellevue public schools! Bellevue is a thriving shopping, dining and nightlife destination with hundreds of premier shops, restaurants, clubs and bars. It is unique in that Bellevue is also connected to miles of nature trails, public parks and community beaches surrounding Lake Washington and Lake Sammamish. Conveniently located, Bellevue is 17 miles from Seattle-Tacoma International Airport and 10 miles from Seattle.
- Bel Red
- Bridle Trails
- Cougar Mountain
- Lake Hills
- NE Bellevue
- NW Bellevue
- West Bellevue
- West Lake Sammamish
The Bellevue School District is home to some of the best schools in Washington State. The schools include: 16 elementary schools, 1 Spanish Immersion elementary school (Puesta del Sol), 1 Mandarin dual language elementary school (Jing Mai), 5 comprehensive middle schools, 4 comprehensive high schools and 3 choice schools. The District is incredibly diverse with 42.5% of students speaking a first language other than English. More information about schools in Bellevue can be found at https://www.bsd405.org/ or https://www.greatschools.org/.
Relocating to Bellevue?
Relocating to a new home can be stressful – logistically and emotionally. The Bellevue rental market moves very quickly, and we have properties coming and going from our available inventory on a daily basis. Our website is updated continually to reflect our current inventory of homes and our team can help you through the process. Some suggestions to make the moving process go smoothly:
- Create a checklist and keep it in a Moving Binder
- Know your relocation budget
- Take inventory of your belongings
- Decide if you will move yourself or hire professionals
- Purchase the appropriate packing supplies
- Update mailing addresses and subscriptions
- Transfer utilities
- Ask for help if you need it!
Frequently Ask Questions
What are your fees?
Residential management fees are 10% or $100 minimum, whichever is greater in management fees per month and 1 month’s rent to lease out your property. If you have multiple properties, please contact a property manager for more details.
How do we get started?
Give us a call! You will be connected to one of our professional property managers who will go over our services, answer your questions, visit your property, complete a market analysis and make any recommendations that your property may need.
Why should I choose WPM/LGA?
WPM/LGA is the #1 firm in King County market share on the Northwest MLS. We have a dedicated team of leasing agents, an amazing accounting department, and an experienced team of managers with a history of outstanding results in our industry. Our network of resources is unmatched, and we have the market statistics to prove that on average, rental property owners retain more income with WPM/LGA relative to our MLS competition.