A landlords association, rental housing association, or renters association (there are also a few other names), is literally an association for real estate investors. While there are many different types including free memberships, associations for commercial real estate investors, associations for single family home investors, and more, you can most likely benefit from joining one. While you will have to look around and choose the best option for your needs, there are a number of benefits to being a part of a renters association. Here are a couple of reasons why from your local Bothell Property Management company.
Get in Touch With Other Investors
One of the worst things about being a property investor is that you might not actually ever come in contact with another investor. Joining a group like the Rental Association of Puget Sound gives you the opportunity to get in touch with other investors, share stories, talk about the best places to invest, and trade tips and information. You’ll get to know people doing the same thing as you, which is always good for business.
Become More Familiar with Laws and Regulations
Most rental associations offer help and often copies of Bothell city laws and Washington state landlord tenant laws, so you’ll have an easier time figuring out which regulations you need. While you can also pick up a lot of information at the Bothell City Hall (18305 101st Ave NE), joining a landlords association will mean that you get some help with learning and finding these regulations.
Learn More About Your Business
Managing property is something that requires a lot of knowledge and you might be managing yours for years before you learn everything you need to know to do the best job. If you’ve hired a Bothell property management company to help then this doesn’t matter, but otherwise it can help you learn the valuable skills you need to make it as a landlord.
Learn New Skills
The Rental Housing Association of Puget Sound and the Rental Housing Association of Seattle both offer training and classes for skills you might need as a landlord. Being a part of an association also gives you the opportunity to meet people who know what classes and courses to take.
Make Business Contacts
Finally, a landlords association gives you the opportunity to make business contacts. Whether that’s finding people to partner with in order to make bigger investments, finding a loan company for your next investment, or finding the perfect local property manager depends on what kind of business contacts you need.
While you don’t have to join a landlords association, it will help you with getting started, especially if you’re new to the property management and investment industry. There are a couple of different options in the Puget Sound and King County areas, so you have choices should you decide to join an association. Plus, no membership requires participation, so if you don’t get anything out of it, you don’t have to stay a member.