Seattle, WA: The Emerald City
With 737,015 residents, Seattle is the most populous city in Washington. It serves as the seat of King County. Education is a significant part of resident life in this city. Colleges and universities located here include the University of Washington, Seattle University, Seattle Pacific University, and the City University of Seattle.
Seattle also places great importance on the arts. Performing arts companies that reside in Seattle include the Seattle Symphony Orchestra, the Seattle Opera, and Pacific Northwest Ballet. There are also a number of museums in the city, such as the Burke Museum of Natural History and Culture, the Museum of Pop Culture, the Seattle Art Museum, and the Chihuly Garden and Glass. Sports also play a major role in the culture of Seattle, with major sports teams like the Seahawks (NFL) and the Mariners (MLB).
Additionally, Seattle hosts several events throughout the year. These include the Seattle International Film Festival, the Bite of Seattle, Northwest Folklife, Bumbershoot, and the Seattle Hempfest. Other attractions include the Space Needle, Pike Place Market, the 5th Avenue Theatre, and Woodland Park Zoo.
The State of Seattle’s Rental Market
Seattle has a very active rental market, owing to expensive real estate. The median listing price for a home in this city is $750,000, which is leagues above the national median. As a result, more than half of the population (54.3%) are renters. This makes Seattle an attractive place for rental property investors and landlords.
Image via towncharts.com
Additionally, Seattle poses high rental income earnings. Here, landlords can charge upwards of $1,500 in rent. The average rent for an apartment is $2,169, and 48% of apartments command a rate above $2,000. Interestingly, rent has been on the rise since 2011, so landlords can look forward to good returns even in the future.
Image via rentcafe.com
Finally, the vacancy rate in Seattle is quite favorable. In 2019, the national vacancy rate was 5.97%. In comparison, the vacancy rate in this Washington city was 4.42%.
How a Seattle Property Management Company Can Help
Without a doubt, Seattle has an appealing rental market, which is why property investors run to this Washington city. However, property management is more than just buying an apartment or house. After the purchase, the owner will then need to manage it properly to make money. For most people, this is the exhausting part.
By hiring a Seattle rental management company, though, you can transfer all of your obligations as a landlord to a trained professional. Your property manager will be the one to make sure everything runs smoothly. Companies and managers offer a wide array of services, including but not limited to:
- Rental property advertising
- Tenant screening
- Property showings
- Rent setting and collection
- Lease agreement preparation
- Routine inspections (including move-in and move-out inspections)
- Lease terms enforcement
- Maintenance and repairs management
- Tenant support
- Budget management
- Tax preparation
- Eviction assistance
Find the Best Property Management in Seattle
Good rental management companies are tough to find, especially if you don’t know where to look. Start your search on the right foot using Rental Choice’s comprehensive online directory. We list reliable management companies that you can filter by city or state. What are you waiting for? Find a trusted rental management company today!