You may already own rental property in Seattle, or perhaps you're thinking of taking the leap and investing in a Seattle home to rent. Whatever stage you're at in your journey you need to carefully consider your next step. Investing in property can be a positive choice for your bottom line, and it can also be a lot of work. How will you manage your money and time to get the best outcome from your investment?
Supply. Demand. When you own or manage a rental property in Seattle, these words can mean everything to your bottom line. The rental market in the Seattle area is constantly changing, and right now there is an increased demand for housing along with a building boom. What does this mean for property owners?
What if your rentals took care of themselves? As a child, did you think that the future would involve talking robots who would do all of your chores for you? Unfortunately, that future isn't here yet. However, having a low-maintenance rental can reduce that list of chores and make your rental property ownership much less stressful. Here are ways you can ensure your rental houses are low maintenance while satisfying to your tenants at the same time.
Are you feeling low about seasonal rentals? No matter whether it's your historic low season or the busiest time of the year it's time to focus on strong marketing messages that help make your vacation tenants feel at home. Whether you have a vacation property in an area that experiences a lot of rentals in the summer or you rent out a property in a winter vacation destination, you need to find ways to welcome visitors all year round. Consider how to market your property through every season by creating an atmosphere that starts when prospective visitors read your rental listing.
Are you on the right side of the law? Wherever you own property, you must make sure that you abide by local codes and regulations. This helps you keep your tenants safe, and it also ensures that you don't face fines or legal action. Are your Seattle rentals following the rules?
Seattle may be the rainy city, but the future is bright when it comes to Seattle rentals. In the last few years, "more and more people are coming here as Seattle’s job base expands, and newbies are likely to rent," according to the Seattle Times. With few homes to buy and a lot of interest in the homes that are available, Seattle's rental market has been fierce, and rental prices have risen quickly. This has placed landlords in an excellent position. With predicted interest rate hikes, how will Seattle's rental market adjust?
Buds and blossoms and cleaning up the winter's mess: it must be spring. Springtime comes with new growth, both in gardens and on your property management maintenance checklist. What do you need to do this spring to ensure that your multi-family units are ready for the new season?
Do you count on your vacation rentals for a consistent income? If so, vacancies can create a gaping hole in your budget. You need to make sure that your properties stay booked, no matter what the season. Here's how to keep your rental buzzing with activity.
You have properties to lease and marketing to do. Your repair bills are constant, and now you need to coordinate snow removal as well. Sometimes, you feel overwhelmed with all of the intricacies of owning real estate. Managing property is not easy, and if at times you want to throw your hands in the air and give up, it's time to get help.
What's going on with Seattle rentals? As a property owner, you need to keep on top of the latest trends and watch for upcoming trends so that your properties can lead the pack. Unleash your properties' potential and reach for rental success.