30 Aug Seattle Rentals Are Great Investments: What’s Holding You Back?
When it comes to property investment, Seattle is a place where the market really couldn’t get much better for landlords. There’s an avid rental market, with rising rents and keen tenants who will fill vacant properties quickly. Here’s why you should invest in the Seattle rental market and how you can get over the worries that are holding you back.
Seattle’s Demographics Support Property Investment
In Seattle, the demographics of the population are changing. According to The Seattle Times, “nearly all the growth in Seattle’s renter households came from those with an income of $100,000 or higher.” From Baby Boomers who are downsizing to urban apartments after they sell their homes to new and mobile members of the technology industry, there are plenty of people in the Seattle rental market who have the financial means to buy but choose to rent because it suits their lifestyle. This means that Seattle is a land of opportunity for property owners.
Seattle Rentals Are Easy to Rent
Property turnover is on a property owner’s list of inconvenient moments. While property owners don’t need to panic when a tenant gives notice, it can cause some stress. After all, if most of your income depends on the properties you own, then that income is in jeopardy when properties stand vacant. Fortunately, in the Seattle rental market, turnover is rarely a big financial concern. While you still need to do your due diligence and make sure that you interview and credit check new tenants, Seattle rentals don’t tend to stay empty for long.
Rental Incomes Are Consistent and Growing
If you want a stable income, rental properties can be a sound way to achieve that, but only if the rental market is strong in your area. In Seattle, you’ll find that the rental market will give you no worries. According to KUOW, “rents across Seattle have risen dramatically over the past 16 years.” While this trend has a downside of making Seattle less affordable, for those who have an investment in Seattle rentals, the strong and growing rental market means that Seattle is the place to be when it comes to being a property owner.
Feel Secure About Your Seattle Rentals
How can you feel like your choice to become a Seattle landlord is the right one? If you are overwhelmed by all of the details of managing rentals, it’s hard to enjoy the process of being an investor in real estate. Luckily, there are many helping hands who can assist you as you manage your Seattle rentals.
For example, you can outsource your marketing and tenant screening to a property management agency, making tenant turnover less stressful. If you need to find someone who can help you mow the lawn, you can either contact a landscaping company yourself or better yet, work with a property management company that has an ongoing contract with a successful landscaping company. There are many solutions for busy property owners, especially if you’re willing to seek assistance in tenant and property management.
Are you curious about how rental properties can work for you? Don’t wait any longer: move into the rental market today. If you’re worried about the work involved in owning and managing rental properties, you don’t need to do it alone. Connect with Lori Gill and Associates to manage your Seattle properties. We can take care of the work while you enjoy the benefits gained from successful investments. Contact us to learn more.