Did you know that hiring a property management company can actually save you money? While your knee-jerk reaction to the thought of a property management company might be, “That would be far too expensive!”, the truth is that hiring a good and efficient management team can actually save you quite a bit of cash, in addition to saving you time, hassle, and stress. If you own property in the Seattle area, you just might find that a property management company could be one of the best financial decisions you’ll ever make.
How? We hoped you’d ask.
1. Handling Paperwork:
One of the biggest hassles that property owners deal with in the Seattle area is all of the paperwork. It takes an extensive amount of time and constant management from either yourself, or your accountant. After all, having your paperwork in order is a crucial task, especially around tax season.
Property management companies can step into this role for you by either removing the cost of an accountant for you, or relieving you of all that time. This will allow you to spend your valuable time on the things that only you can do – investments, new property, interfacing with new clients, and other important tasks that require your time. We’ll manage your income and expenses for tax purposes, as well as maintain legal paperwork, such as permits, inspections, and maintenance bills.
2. Shorter Vacancy Periods:
The thing about a property manager is that we don’t get paid if you don’t get paid. This means that we are as eager as you to make sure that your units are leased, and that your leases renew. We go out of our way to create effective and efficient marketing campaigns, even down to the details. For instance, did you know that having a professional ‘for rent’ sign versus a handmade sign speeds up the process of finding a renter for vacant rentals by up to several weeks? When people view a professional sign, they assume the management will be professional as well. Which, of course, it will be.
We use strategies such as high quality videos of the property, extensive networking, and internet marketing to ensure that your property isn’t vacant long.
Shorter vacancy periods mean that you make more money. The average turn-around for a vacant property is 30-90 days. A good property management company can shorten that time for you to 1-3 weeks. That translates into a lot more money in your pocket.
3. Travel Costs:
Unless you live next door to your rental properties, driving to and from your rentals can be a vexing and often expensive chore. Depending upon the distance between you and your rental, you can find yourself shelling out a substantial wad of cash for gas.
You’ll be surprised at how much money you can save simply by reducing the number of trips you take to your rental property. So, next time a tenant has an issue, they’ll call us instead of you, and we’ll drive out to handle it.
4. Network Connections:
Because we manage so many properties, we have connections all over Seattle and the surrounding areas, such as Bellevue, Everett, and Tacoma. When it comes to paying for real estate services, such as maintenance, repairs, cleaners, plumbers, and electricians, we know the guys that can get your property for the best price. Our ability to network and work with large volume vendors allows us to get you great services at low prices.
Convinced that it’s time to save yourself time, hassle, and money? We think so, too. Give our office a call to talk about our property management services in Seattle, Bellevue, and beyond. Our property management experts look forward to meeting you and learning about your properties.