When you own a beautiful property, you want to share it. Creating a vacation rental is one way to share your property with others. In the Pacific Northwest, people flock to the Lake Chelan area for its sunny summers and serene winters, fun on the lake, golf, wineries and many other features. If you’re tired of playing host to vacation rental guests during your vacation time, a property management company could be the right choice for your Lake Chelan vacation property and your property management needs.
Home safe home: when your tenants think about home, you want them to think about it with fondness, but you also want them to think about it with a feeling of security. Your rental homes must feel safe to tenants. This means that they need to be well-maintained and in good repair. As a property owner, keeping up with property repairs and maintenance can be a challenge. What can you do to stay on top of it all?
How are your Seattle properties doing? If it feels like the property market is speeding up exponentially, you're right: Seattle's property market is the fourth-fastest growing rental market in the country. Rental rates are up and vacancy rates are down. What are the details of this constantly shifting local market, and how will they impact your business?
Whether you want a break from being on call or you're considering a purchase of an investment property, you know that you need help managing your properties. However, choosing the wrong property manager can be a big problem for your budget, your buildings, and your tenants. When you're looking for a property manager, here's what you need to look for to ensure that you're getting a reputable manager for your properties.
A pool or a short walk to the library: what do your tenants expect in a property? Different property amenities have their season, and what was important several years ago or to one generation isn't necessarily important to the next. What do tenants expect, and what do they consider to be a wonderful bonus?
For some people, the thrill of the hunt is one of the delights of renting a new home. However, finding a new home to rent can be exciting and frustrating at the same time. This is true when the market is tight, and it's true when the market has plenty of homes but is missing the perfect one for you. When owners and tenants work with rental property management companies, it's easier to provide a full spectrum of home choices to prospective tenants and market these opportunities more widely.
Congratulations, you've made it to the next level of rental property ownership! As you step into this new reality, you are going to be faced with many new challenges. One of the most important ones will center around how to manage your time and your staff resources. All too often, property owners find they end up spending all of their time attending to every detail of their business themselves.
Where, when, and how you market your rental property can mean the difference between keeping your property filled or, having trouble creating an interest in the property. When you hit the right property marketing target, the crowd goes wild. As you get to know your property and your audience, you'll be able to target your communications to a specific audience for your rental, allowing you to create marketing materials that draw a group of deeply interested prospective tenants.
As a property owner, you have responsibilities. You not only want to ensure that your property is attractive and functional so that you can find and retain tenants, you need to keep your tenants happy with thorough communication. However, property owners have responsibilities beyond caring for tenants. If a tenant gets hurt on your property and it's deemed to be due to your negligence, you will need to be financially responsible. Even with insurance, you could experience a legal case that could cost you time and money. Professional rental property management can come between you and your tenants in a positive way, by reducing your personal liability.
In many cities, the condominium market is hot. In Seattle, some folks are looking to catch the tech wave and live in a place that's close to work and entertainment, while others want to live in high-density, low maintenance homes in walkable neighborhoods. As a property owner, this inflow of motivated buyers can also mean an inflow of keen tenants, as many people decide to commit to a location but not to home ownership. This means that as an owner, you need to learn how to work with the unique condominium market.