Proper Rent

Proper Rent manages properties in Seattle and surrounding markets. We specialize in Single Family Homes, Condos, Duplexs and other Multi-family dwellings.

01/29/2019

Seattle passed new inspection laws in 2012 which subjected Seattle landlords and tenants to new rules around property inspections. This mandatory program cycles through the city’s entire rental stock every 10 years, checking units in all rental buildings at random.

The program updates have not been well-received by many tenants and landlords. Tenants argue the inspections are an invasion of privacy as inspectors don't need to provide any advanced notice and need no warrant to enter a rental unit.

In December a new lawsuit was filed by landlords and tenants that argues this law is unconstitutional and an invasion of privacy. Those who oppose the law are not against inspections, but they believe the current program is too extreme and should be updated to allow tenants the ability to refuse entry and request government inspectors as needed.

Homeowners should continue to register their units with the city and expect the inspections to occur for the foreseeable future. We'll continue to update our blog with updates to the law as it progresses. Contact Proper Rent if you have questions on how to register and stay in compliance with the city.

12/13/2018

Seattle Rents- What's the deal?

What is going on with Seattle Rents? Are they still increasing? Are they flat? Are they declining?

Many reports in the past few months have been published about the housing market. Most of the reports center around the supply of housing finally catching up to and exceeding demand.

Our blog has more information and links to some recent market reports. The bottom line is rents are increasing, but Property Owners can do a few simple things to keep their places rented, or rent vacant units fast. Check out our blog for more information: www.properrent.com/blog

08/29/2018

Seattle Starting to cool! No, we're not talking about the weather. We're talking about the housing market. We've given up the crown after more than 2 years as the hottest housing market in the nation. While home value growth has slowed across much of the nation, in Seattle our home value growth has slowed enough to drop us from 1st to 12th according to Zillow.

Why the slowdown and where is the hottest housing market? Check our blog for details!
www.properrent.com/blog

07/19/2018

Apartment Glut Creating Waves...

The boom of apartment construction in Seattle has created an interesting situation. Seattle is getting more new units this half-decade than in the previous 50 years combined, and the peak of the openings is happening right now. There are reports that 1/4 of new apartments in Seattle are vacant. Landlords of these buildings have started to offer incentives, like free rent, free parking, free gift cards, etc.

Should you be offering a rental incentive? Read more on our blog and contact us to discuss the best strategy. www.properrent.com/blog

06/24/2018

What does/doesn't a landlord cover for a rental property? Is the tenant or landlord responsible for changing batteries in smoke detectors? Take a look at these 10 items from Wisebread.com that highlight things a Landlord does NOT cover. https://www.properrent.com/single-post/2018/06/23/Landlord-Responsibility

04/25/2018

No More 1st Come 1st Served!
Good news for property owners. Seattle’s controversial law obligating a property owner to rent to the 1st potential tenant that met minimum requirements has been deemed unconstitutional.

We first wrote about this law 2 years ago and highlighted it as “a great example of a good idea (prevent discrimination) gone horribly wrong.” This law is akin to telling an employer that they must hire the first person to meet posted requirements. The law removed the ability for a property owner and manager to find the right tenant; and forced them to select the first tenant.

The fights not over yet, as lawyers expect an appeal from the city. Keep up to date with details on ProperRent and share your thoughts/feedback with us.

www.properrent.com/blog

03/26/2018

Could Property Owners be Obligated to Pay Tenant Moving Costs?

It's not a reality in Seattle today, but it's possible in the future!

In Seattle, property owners are not obligated to pay tenant moving costs. However, not too far from here, in Portland, it is a reality. Earlier this month the City of Portland enacted a permanent rule that property owners must pay for the moving costs of tenants who are forced to move due to rent increases of 10% or more.

The "Relocation Assistance Ordinance" will cost landlords anywhere from $2,900 to $4,500, depending on the type of dwelling unit.

Read more on our blog: https://www.properrent.com/blog

02/21/2018

Are you aware of the minimum safety requirements for rental property locks and door in Seattle?

More than 25 years ago the City of Seattle implemented minimum security requirements for locks and doors necessary for all rental properties. However, many landlords and tenants are not familiar with these requirements.

There are five security requirements for locks and doors to be aware of.

1) Locks must be changed between tenants.
2) There must be an installation of door viewers.
3) Deadbolts must be installed and operational on appropriate exterior doors.
4) There must be latching devices on windows.
5) Sliding patio doors require proper security devices.

Check our our blog https://www.properrent.com/blog for more information of these security requirements and let us know if you have questions or need guidance on staying current with rental regulations.

02/06/2018

Seattle Rents Outpaced by....

We all know that Seattle Rents have been skyrocketing. But there are other cities in Washington that have actually outpaced Seattle in rent increases. According to RENTCafe, Seattle rents increased 5.1% year over year; while Renton increased 5.2%, Tacoma increased 5.9%, Kent increased 6.1% and finally Spokane increased a whopping 7.1%.

While these cities have seen higher year over year growth rates, Seattle is still more expensive than these cities. The average rent in Seattle is $1,972, compared to Spokane's average rent of $904. However, Seattle isn't the most expensive rental market. Bellevue barely beats Seattle with an average rental of $2,064 (but only has a .8% year over year growth rate).

Will rents continue to rise? All signs are pointing to continued growth for Seattle and other Washington cities. Contact us if you are interested in more details on rental rates and forecasts for the coming year! http://www.properrent.com

01/18/2018

Rental Home Purchases in Seattle - 25% Cheaper in Winter!
Thinking of buying a rental property? The best time to get in the market is Winter. According to Business Insider, Seattle Rental Homes are 25% cheaper in the winter. In fact, across the US, rental homes are an average of 6.6% less per square foot for the same rental property during the winter as they are during the spring and summer.

While buying a rental property in Seattle at a 25% discount sounds attractive, other areas can have an even bigger discount. Seattle ranks #9 on the list of best places for purchasing in the Winter. Want to know who is number 1? Check our blog: www.properrent.com/blog

12/06/2017

Could Rent Control ever find its way to Seattle's rental market? Bills have been raised previously, but those have all been rejected fairly quick. A new effort may have a better chance of getting through. Representatives are working to introduce a bill to repeal Washington's state’s ban on rent control. Economists have said that rent control does more harm than good. Read more on our blog: www.properrent.com/blog

10/27/2017

Stabilizing Rents? Not so fast..

Seattle has opened up more apartments in the past 5 years than the past 25 years combined, yet it hasn't helped to slow rent increases. Seattle rents have doubled over the last 5 years. Seattle Rents are still growing more than 3x the national average (according to Zillow study). In fact, a 2 Bedroom Unit in Seattle will cost more than $2,000/month.

According to the Seattle Times, over the next year and half the inventory of available units will soar 17% in Seattle as 46,000 new units open. Perhaps this will be what finally starts to slow down rent increases...

Find out where we believe rents will go... continue the story on our blog: www.properrent.com/blog

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