Bellingham vs Nearby Cities
Bellingham rests on the eastern shore of Bellingham Bay in northwestern Washington and offers a middle ground when it comes to the area’s real estate prices. Nearby cities like Greenwood are known for median listing prices over $600,000 while other cities offer extremely low prices. For instance, the median listing price in Burlington is often around $300,000. Bellingham falls toward the middle of these two cities with a median listing price that tends to stay around $400,000. There are some cities in the area that offer similar home prices, including Ferndale. Residents can expect to pay around $200 per square foot on average when shopping for homes on the bay.
Bellingham Property Managers
Property managers are hired to maintain the integrity and beauty of rental units when the owners are unavailable. A manager often offers real estate information that helps the owner determine rental rates, and they may act on the owner’s behalf in legal proceedings related to the property and previous tenants.
Bellingham Property Management Company Fees
If you hire a manager to care for your rental property, you can expect to pay around eight percent of the rent collected from your tenants. This is the basic management fee, and you will also maintain responsibility for routine property expenses. Your manager may also ask for a leasing fee if they are responsible for finding new tenants for vacant units.
Washington Landlord/Tenant Laws
- Washington state laws place no limitations on what a landlord may charge a tenant for the security deposit.
- Landlords must return a tenant’s security deposit and/or a detailed accounting of deductions within two weeks of the tenant vacating the rental unit.