Seattle is one of the best places to live, with the Emerald City ranking in the top ten cities in the country. This area is a great spot for property investors. With the constant influx of renters in the city, having a rental property is an effective way to increase your income.
It can be challenging to manage your rental properties, especially if you have more than one or live out of the area. A full service property management company can help decrease your workload. You can focus on your full-time job and the things you love to do while a property management company takes care of the rest.
This guide will discuss the top reasons why you need to hire a property manager. Find an experienced partner you can trust in the Bellevue and Seattle areas.
Find Quality Tenants
Your tenants are one of the hardest aspects of owning property. It can take a lot of time to advertise your unit and show it to prospective tenants. Once you've compiled a shortlist of potential renters, you'll have to conduct an extensive background check on each person.
It can take hours, sometimes days, to screen candidates for your rental unit. An experienced property management company will handle every aspect of the process for you. Some of the tasks they can handle include:
- List your units on rental property sites
- Scheduling showings with interested persons
- Conducting employment verification
- Running background checks and credit reports
Make More Money
Property owners might be hesitant to hire a property management company because of the cost. You'll save money over time when you work with one.
Consider how much time you devote to taking care of your rental properties. You're likely not getting paid for that time. Spend those hours doing things that make you money while another person handles your rental units.
Property management companies also have proven methods for rent collection. They can offer your tenants convenient ways to pay. If someone is late on rent, they'll handle pursuing it instead of you.
Protect Yourself From Legal Issues
Problematic tenants can cause a lot of problems for you. Property managers will look for red flags when screening renters. They can also provide you with guidance if you're dealing with a legal issue.
Property managers in Seattle are well-versed in federal and state laws. While they're not a replacement for legal counsel, they can guide you through the process.
The property management company will also conduct routine inspections and let you know of any potential concerns. They'll identify problems that your tenant might be causing, especially if it's a safety concern. This information could help you in the future.
Partner With a Full Service Property Management Company in Bellevue
Owning a rental property in Seattle is a great way to increase your income. Don't devote your free time to taking care of your units. Connect with an experienced property manager in the area.
Brink Property Management is a full service property management company in the greater Seattle and Bellevue areas. We offer a wide range of services for property owners. Reach out to us to schedule a consultation.