Kirkland Property Management
Do you own rental property in the Kirkland, Washington area that you are managing yourself? Are you considering purchasing an investment property in the Kirkland area? We have prepared the following information so you can make an informed decision related to buying your rental property and Kirkland property management…
Kirkland Local Profile
Kirkland, Washington is home to 85,763 people, and for local property investors, it offers a combination of family-friendly schools and parks, plenty of local jobs through big corporations in and around the area, and plenty of culture and nightlife for families and singles alike. Together, these factors combine to make Kirkland a great place to live, and in fact, Kirkland was ranked #19 out of 50 of the safest places to live in Washington, with a crime rate some 49% below the Washington average.
Buying a Rental Property in Kirkland
As a leading provider of Kirkland property management services, the first thing we recommend thinking about when considering investing in a Kirkland rental property is where to buy. The general rule is the closer you get to Lake Washington, the higher rents are, and the easier the property is to lease. A one-bedroom condo near the water in Kirkland will generally be easier to rent than a similar property a few blocks off of the lake. SJA property management asks you to also consider that the positive features of the waterfront condo in terms of rent and rentability will need to be balanced against the fact that it will likely be more expensive than a similar property in another area. There are also neighborhoods and areas in Kirkland such as Totem Lake and Rose Hill which are relatively close in proximity to each other, but as our SJA property managers point out offer each of its own unique characteristics.
After considering where to buy, the next logical question according to our experienced Kirkland property managers is what to buy. If you are a first-time rental property investor/owner with a relatively small amount of money to invest, you might prefer a single-family home or condo, or a smaller multi-unit property. This is especially true if you plan to hold off hiring a Kirkland property management company and managing the rental property yourself. The larger the building, the more complex the tenant-related issues can become. A great option for a first-time investor is purchasing a duplex and living in one of the two rental units.
What can you expect your rental property to rent for in Kirkland?
- 4 bed/2 bath, 2,500 s.f. single family home – $2,220-$3,200 depending on area and amenities
- 2 bed/2 bath – 1,000 s.f. condo – $1,265 – $1,595 depending on area and amenities
For more detailed information on any of the Kirkland property management or other issues discussed above, please contact one of our SJA Property Management professionals at 425.658.1920.