As many real estate indicators in the city of Seattle show that interest in rental properties is increasing, professional property managers in the area believe that now is a good time to be a landlord in Seattle. In fact, to prove this point, many people are flocking to real estate investment property seminars in the area.
Why are Seattle Properties Popular?
According to interested real estate investors, both property values and interest rates are quite low.
People are interested in becoming landlords in Seattle as stock market investments are viewed as risky and bank interest rates are low at present. In fact, some people contend that the interest rate is actually below the rate of inflation.
At the current rent rates, landlords are actually creating a positive cash flow. In other words then, not only are Seattle-based landlords covering their mortgage and other property expenses, but they are also generating a significant income from their tenants in these rental properties.
According to real estate agents, there is an increase in demand in condos and single-family homes with rents in the $2000 plus range. Who are these renters? Some of these renters are individuals who moved to Seattle for IT jobs and want a place to live for up to three years.
The Realogics’ magazine, “The Collection,” recently stated that more and more foreign investors are interested in purchasing property in Seattle: “Foreign investors are discovering that Seattle offers compelling returns on income property while providing a favorable currency exchange rate and portfolio diversification, as well as opportunities for immigration and financial safe harbor in one of North America’s most dynamic gateway cities.”
That said, at SJA Property Management, we know how time consuming Seattle and Redmond property management can be. Having a professional handle your rental property can save you time, money and effort in marketing, leasing and upkeep.