Seattle vs Nearby Cities
Cities in the Puget Sound region of Washington are known for their aggressive real estate markets and well above-average home prices. Seattle has been declared one of the hottest cities for real estate in the country and boasts a median home value close to $700,000. The median listing price for the city is often close to $700,000, and median rental rates tend to stay above $2,500 per month. While there are some nearby cities like Renton that offer median listing prices under $500,000, most surrounding cities are more expensive than Seattle. For instance, the median home value is around $800,000 in Bellevue and Redmond. The median listing price is often above $900,000 in Bellevue.
Seattle Property Managers
Property managers are real estate professionals who know how to protect the interests of a property owner. They can balance the books and oversee repairs and maintenance duties while collecting rent and settling disputes with tenants. They harbor a wealth of knowledge about landlord-tenant laws and have experience within the local real estate market.
Seattle Property Management Company Fees
Most property managers in the Puget Sound region base their fee on the amount of rent collected from a property. The fee tends to stay close to 10 percent, with many managers charging around eight percent for their standard contract. Property owners can also expect to pay operational costs, leasing fees and other added expenses.
Washington Landlord/Tenant Laws
- Washington landlords have 14 days to return a tenant’s security deposit once they vacate the property.
- Landlords can charge any amount for a security deposit in Washington.
- For month-to-month lease agreements, landlords must give tenants at least a 30-day notice when they plan to raise the rental price.