Issaquah Property Management
The team at SJA Property Management has prepared this page for those contemplating purchasing an investment property in the Issaquah area or deciding whether to manage your property on your own or through a professional Seattle property management company. Our goal is to help investors make an informed decision about purchasing, managing, and leasing their Issaquah home or investment.
Our goal is to provide you with relevant and valuable information to help guide your decision-making without overwhelming you in data. Everyone’s situation and preferences are slightly different. Quite often, the most efficient and effective way to get your questions answered is to talk one-on-one with a Seattle-area property manager who has years of experience to draw upon. Contact us for a free, no-obligation consultation on any matters related to real estate and property management. Please do not hesitate to call us at 425-658-1920 or email info@sjapropertymanagement.com for a free consultation.
Buying Rental Property in Issaquah, Washington
Because housing prices are relatively high, buying investment real estate in any part of Issaquah should involve a great deal of research. You must set a budget, check your lender, check your credit opportunities, and then search for properties within your budget. If you have the budget, a larger multi-family unit is always more profitable in the long run, but if you are dealing with a smaller budget, a better idea might be a single-family house or condo.
Choosing a property should involve the following:
- Budgeting
- Appraisal (will the investment be profitable)
- Comparison (are there better options)
- Potential ongoing maintenance issues
- Desirability for tenants
These steps should involve considering the location, considering the average rent rate once occupied, and considering any repairs or remodeling necessary to make the unit rentable. For example, if the property is near Lake Sammamish, then it is easier to rent out. Thought should always be given to whether the property will be profitable, desirable for tenancy, and comparison shopping for better options.
Single-family homes and condominiums typically cost between $350,000 and $850,000, while multi-family units typically cost less than $200,000 (average $70,400-$92,400) per unit. Some homes can demand far higher prices. Marketing for those tenants is different than the marketing needed for lower-cost properties.
Managing a Rental in Issaquah
Managing your property can be somewhat overwhelming, which is why many landlords choose to hire a property manager. However, with diligent attention and regular inspections, a homeowner can successfully manage their own investment properties.
After purchasing an Issaquah rental property, it is time to decide if you can manage it yourself or if you want to hire a professional Issaquah property manager. You will have to handle advertising, screening tenants, creating lease and rental contracts, and staying on call in case of emergency for your tenants. If you choose to manage your own property, you will also have to brush up on Washington landlord and tenant law, learn Issaquah’s safety codes, and deal with maintenance issues regularly. Finally, you have to collect rent and handle tenant relations.
Do I Need a Property Manager?
If you have no experience as a landlord, you could actually hurt your profits while you learn. We know the area, and we know how to fill your units quickly. A professional Issaquah property management company can help you to maximize profits. At the end of the year, the number one determining factor for how profitable your investment will be your vacancy rate.
We also know local contractors and companies so that we can handle your maintenance and repair issues as quickly and affordably as possible. Finally, because we have experienced real estate and law professionals on our team, we can handle your paperwork, legal issues, and standard management flawlessly so that all you have to worry about is receiving a check.
If investing in Issaquah real estate is of interest to you, contact us today at 425-658-1920 to talk with one of our Issaquah property management professionals.