Kirkland Property Management
The Kirkland property management team at SJA Property Management has prepared this page for those who are considering the purchase of an investment rental property in the Kirkland Washington area or are deciding whether to manage their rental property or hire a professional Kirkland property manager. Our goal is to help investors make an informed decision about purchasing, managing, and leasing their Kirkland rental property.
Our goal is to provide you with relevant and valuable information that will help guide your decision-making without drowning you in data. Everyone’s situations and preferences are, at a minimum, slightly different. Quite often, the most efficient and effective way to get your questions answered is to talk one-on-one with an SJA Seattle property manager who has years of experience. We are always ready to provide free, no-obligation consultation on any matters related to Kirkland real estate investments. Please don’t hesitate to call us at 425-658-1920 or email firstname.lastname@example.org for a free consultation.
Kirkland’s Local Profile
Home to 89,438 people Kirkland, Washington, offers a combination of family-friendly schools and parks, plenty of culture and nightlife for families and singles alike, and thriving employment opportunities through big corporations in and around the area. Kirkland was ranked #22 out of 50 of the safest places to live in Washington, with a crime rate 49% below Washington’s average. Together, these factors combine to make Kirkland a great place to live.
As a property investor and manager, Kirkland is one that can be strongly considered for your investment.
Neighborhoods – There are multiple neighborhoods in Kirkland, each with its own charm, culture, local activities, and schools.
- Central Houghton
- Evergreen Hill (Greater Kingsgate Area)
- Finn Hill
- Juanita Neighborhood
- Moss Bay
- North Rose Hill
- South Rose Hill/ Bridle Trails
- Totem Lake
Education – Serving these neighborhoods are some of the top-rated schools in the state. Kirkland is part of the Lake Washington School District, and 2 of the district’s choice high schools are located right in Kirkland. With 25 preschools, 24 elementary schools, 22 middle schools, and 12 high schools, there are plenty of education choices in the area.
Kirkland is also home to Northwest University, Lake Washington Technical College, and borders on Bastyr University, which it shares with Kenmore.
Parks & Trails – Kirkland offers a rich array of culture and public art. There are also many parks and walking trails such as the 5.75 mile Cross Kirkland Corridor. Parks make up approximately 25% of the city’s area and include a total of 11 areas, strategically placed to allow visitors and residents to enjoy the city, the waterfront, and the woods. The city offers an online guide of Kirkland parks and trails to help you identify those nearest to your Kirkland property.
Buying a Rental Property in Kirkland, Washington
In Kirkland, 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 a few blocks off the lake will generally be more difficult to rent than a similar one near the water. The waterfront condo’s positive features 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 unique neighborhoods and areas in Kirkland, such as Totem Lake and Evergreen Hill, which are relatively close to each other, but each has its distinct characteristics. As you can tell, one of the first things to think about when considering purchasing a rental property in Kirkland is where to buy.
After considering where to buy, the next logical question is what to buy in Kirkland. Keep in mind, the larger the building, the more complex the tenant-related issues can become. Suppose you are a first-time investment property owner, with a relatively small amount of money to invest. In that case, you might prefer a single-family home or condo, or a smaller multi-unit property. This is especially true if you plan on not enlisting a Kirkland property management company’s help and managing the property yourself. An excellent option for a first-time investor is purchasing a duplex and living in one of the two rental units.
What can you expect to get for rent in Kirkland?
- 2 bed/2 bath, 1,000 s.f. condo – $1,765-$2,595 depending on area and amenities
- 4 bed/2 bath – 2.500 s.f. single-family home – $2.600 – $4,200 depending on area and amenities
Managing a Rental Property in Kirkland, Washington
While you can manage your Kirkland rental property on your own, you may want to consider hiring a professional Seattle-area property management company instead. In making this decision, you will consider personal preference, aversion to risk, budget, and the amount of time you have to dedicate yourself to the issues of being a landlord of rental property.
There are several aspects to property management; tenant screening, lease preparation and signing, rent collection, and rental property maintenance are just a few property management-related issues. A professional property manager like SJA Property Management can relieve a rental property owner of all aspects of managing a property.
While it is true that you may be able to save more money by managing the property on your own, you may find that it is just not worth it. As an example, one month of vacancy in your rental could easily consume the money you saved. A property management company like SJA Property Management would aggressively market your rental property, likely leading to it being rented out more quickly than if you handled it yourself.
A property management company will also help you handle unique laws and ordinances. If you choose not to go with a property management company for your rental, you should plan to make yourself intimately aware of the local ordinances. The risks and costs related to the violation of those can be substantial.
We understand that many Kirkland rental property owners, for financial or other reasons, decide to manage the property on their own. If you are managing your own property and issues arise that you aren’t sure how to handle, please call us. Our team is more than happy to consult with you, free of charge, on whatever property management-related issue you are dealing with. We can be reached at email@example.com or 425-658-1920.