Selling a home in today’s market is certainly a challenge. So many of us need to move for one reason or another and are struggling with a real estate market that has very few buyers and where home values have dropped.
We’re all in this together. Many homeowners across the country who haven’t been able to sell their homes have chosen to lease them instead and, in most cases, the expenses of maintaining the home are covered by the rent. It’s working as a viable solution for homeowners who find they must move.
The number of homeowners choosing to lease their property is matched by the number of people looking to rent a home. Rental property vacancy rates are at historic lows and the trend for the rental market is on a rapid rise.
If you’d like to consider the alternative of renting your home instead of selling, then there are important facts property owners should know about the rental process.
Here are several:
• Finding qualified tenants requires state-of-the-art marketing, and careful and thorough screening of the tenant’s credit, employment, residential history, and criminal records.
• The management of funds and accounting procedures are regulated by Washington state, and there are strict laws regarding security deposits, and end of lease refunds.
• In Washington State we must abide by landlord/tenant act, fair housing rules, and discrimination laws.
• The day-to-day oversight of the property is complex— handling repairs, managing non-compliant tenants, dealing with late or absent rent payments, and administering legal notices—and are often best handled by property management professionals, especially if owners do not live close by.
Our company Three Keys Property Management (3KEYS) is not a traditional management company. Our staff includes licensed real estate brokers with years of experience in both property management and home sales. We are a technology-oriented company who markets its rental properties with the same investment in time and materials that are used to market homes for sale. Our property marketing program uses technology to its fullest extent and includes video tours, posting all rentals onto the Multiple Listing Service and over 60 websites and social networking sites. Each of our rental properties has its own website and is set up to encourage instant communication from prospective tenants.
The 3KEYS alternative to selling your home provides quality services, excellent communications, and systems in place to provide you the “best-of-the best.” We have low property management fees, so renting your home costs you less. We only ask this of you: If you are happy with our services, please refer your friends and family to us.
We’d be happy to discuss with you the 3KEYS property management program and your specific needs. You can reach us by phone at (425) 449-5990 or by email at info@threekeyspm.com .
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