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If you own a larger building, like one with more than four units, it can be quite challenging to manage the place yourself. Or perhaps you would rather spend your time searching for new properties. After all, it’s hard to grow your business when you have to attend to noise complaints in the middle of the night, or to constantly fix leaking pipes and chase rent checks.

This is when you would bring on a property manager. These companies are pros – they have been doing this for years. Tenant issues you may be facing for the first time will be things they have handled time and again.

Why Are They Important?

A property manager can be the lifeline of your investment. Having a trusted property manager means you can pursue other aspects of your business without having to worry about the state of your existing properties.

Further, a competent property manager can pay their costs back in gold, given the revenue they can generate for your property.

In fact, there are at least four things that property managers provide that make them essential for maintaining your investments:

1. Keeping Units Filled

For one, a good property manager knows how to keep a tenant happy. Tenants leaving can be quite time consuming, and a vacancy can bleed cash, so it’s in your best interest to keep your units filled.

In the event of a vacancy, the property manager knows how to get it filled quickly. They have experience writing attractive ads, and generally know how to market the property. They are also professionals with showing the unit, fielding calls and closing deals.

2. Property Upkeep and General Site Maintenance

Ordering supplies, keeping the grounds attractive, answering maintenance calls, and maintaining a safe and secure lot are all within the authority of a well-trained property manager. Without one you could eventually face legal entanglements for negligence.  The manager also has contractors they’ve worked with in the past, and you can count on them being not just reliable, but also licensed, bonded and insured.

They can also provide recommendations for renovations and other improvements that help increase your tenant retention rates.

3. Customer Service

Customer service can make such a huge difference in the quality of life for your tenants. Even if a problem can’t be fixed immediately, having staff that can communicate and respond quickly and professionally sets you above many other landlords. Remember, people don’t usually complain from structural issues – they mostly complain when they don’t get the customer service that they deserve. Conversely, positive customer service lends itself to positive online reviews, which helps attract prospective tenants.

4. Dispute Resolution

Whether the problem originates from a fight between tenants or a late rent payment, you can trust on the property managers to resolve disputes themselves. It’s easier for them to have a hardline approach with collecting payments and other issues because both parties—tenants and managers—know that the managers are just doing their job.

You can also count on them to record and file important information, just in case future litigation arises.

Like we said, some properties are not necessarily in need of a property manager. Others are in dire need of one being hired. If you are on the fence, get in touch with us and we can talk about whether or not it makes sense for you and your business.

The housing market around the country has been hot for the last several years, especially for sellers. Homes are being sold in record time, and for great prices. Buyers, on the other hand, have had a hard time finding a home, seeing as the inventory is low.

Washington is no exception. With
the beautiful scenery, unique job opportunities, and reasonable home prices, Washington—especially Clark County—is a desirable place for many individuals and families to build their lives. For both buyers and sellers, here’s a more in-depth look into how the Washington real estate market stands right now.

Housing trends and stats are often published for the whole country or even large areas of the country—such as Oregon or Washington.

According to Nancy Johns, Managing Broker in Windermere’s Vancouver, WA office,

“The truth is that all housing is local: what happens in Seattle matters to us in Clark County, as it’s a general indicator of the financial health of the region. But Clark County information is what we should focus on”.

Meaning, housing numbers in one area can affect surrounding regions. It’s still important, though, to pay attention to the local market.

Locally, like nationally, it’s a seller’s market.

This doesn’t mean there aren’t buyers, just that there aren’t enough homes available to satisfy the demand. This is especially true in Portland, which is one of the most expensive markets in the nation right now.

This makes Vancouver prime real estate right now. Buyers love the beauty of the city as well as it’s quiet but quick development. People can also find a home within their budget, but still enjoy visiting and working in Portland. The area in general is popular due to the zero sales tax in Oregon and zero state income tax in Washington.

The number of new listings has gone from 894 in September to 769 in October. This is to be expected, simply because real estate business slows down once Thanksgiving and Christmas holidays start approaching. Families are busy and not focusing on buying or selling a home (unless they absolutely have to). According to Trulia, in the last year, the median home sale price increased about 7%, which translates to the average price being $272,500.

As people continue moving to Washington, we will probably see prices continue to increase. Buying a home in Washington state sooner is a great investment that can pay off greatly. If you have questions or want more information about the market in Clark County, our brokerage team can help. Contact us today.

Investing in real estate can be a wonderful decision, but one that requires dedication, planning, and a lot of saving. Those who invest in real estate can see incredible returns and it can be significant when adding to your investment portfolio. Historically speaking, this is a great time to start investing in real estate because it’s a very healthy market. Home prices are up nationwide about 5.7% in June 2016 according to CoreLogic and homes are in high demand.

If you find the right property in the right location and you have enough cash reserves to make it a go, investing in real estate can be a great option. Here are some reasons why investing in real estate is a great idea:

Financing options for investors have expanded.  There are a variety of financing options that have been made available to investors nowadays, which makes it a lot easier to invest in real estate. For example, lenders can underwrite a loan based on the income of the property rather than investors being tied to their personal income. In addition, there is an FHA program called the 203K loan that allows you to incorporate the needed repairs of a property into the loan that you’re taking out and still only pay a 3.5% down payment. You can use this on multi-family properties and create a plan that allows you to fix up a home and use it for rental income in the future.

It’s a great way to diversify your investment portfolio.  Investing in stocks and bonds is a good idea, but creating a diversified portfolio is something that’s recommended by financial planners around the country. Luba Nikulina, global head manager of research at Willis Towers Watson, shares that there has been a shift away from equities and bonds into other investment alternatives, which has helped create diversification and ultimately, successfully manage risk. 

You’re the boss.  With every real estate investment you make, you’re the person in charge. You’re able to make improvements needed, refinance your mortgage if needed, raise rents, find tenants, and market your property how you want. When you invest in another company, you’re putting your faith in how they manage it. With real estate, you can be in control of your money while having a tangible asset that can yield a cash return.    

There is so much potential in real estate investment, but it requires you to do your research and make careful decisions. If you’re looking at the pros and cons of investing in real estate, contact our brokerage team today at Zenith Properties for specific information.

The two goals of tenant screening are straightforward. You want someone who will pay on time and treat your space with respect. But conducting your screening can be confusing. How do you determine who is a good tenant? How can you tell if they are being honest in their responses?

It is well worth the effort to spend the time identifying warning signs of a troublesome renter. Bad tenants are more than a nuisance. They waste your time, cost you money, and leave you with a mess to clean up.

Avoid these problems by keeping a lookout for these 7 red flags.

1. Does a Credit Check Make Them Nervous?

By law, you can’t run a credit check without the permission of your prospective tenant. But, what if they won’t give their consent? Savvy landlords know this often means they have something to hide, from a bad credit history, to an eviction or a bankruptcy.

Let the person know that you won’t rent to them unless you first do a credit check.

2. Is Their Credit Score Low? Does It Show Bankruptcy?

When you do run the credit check, you might find a low credit score or a bankruptcy on their record. If the person has made poor financial decisions in the past, it is a good predictor of how he is still handling his bills.

Take it as a sign that he will be late paying his rent and find another renter.

3. Have They Been Evicted?

Any eviction is a major red flag. The main reason people are evicted is because they don’t pay their rent. It is probable that they had the chance to move out before getting evicted. Instead, they chose to stay until they were forced out with a formal eviction.

To avoid the drama and paperwork, move on to another applicant.

4. Have They Moved Yearly?

Though your tenants won’t stay in your building forever, it is easier on you as the landlord to rent to people who will stay at least two or three years.

It makes sense to contact previous landlords to find out how long the prospective tenant lived at their former addresses. If they move every year, you might want to pass them by.

5. What About the Criminal Background Check?

 In some states you can turn down a prospective tenant if they have gone to jail. But in others, like California, you cannot discriminate against those who were convicted of specific nonviolent crimes.

Learn the rules in your area so you don’t violate the law yourself. Wherever you live, if the person was convicted of a sex crime or drug dealing, you are in a very strong position for turning down their application.

6. Are There Lies on the Application?   

A smart landlord checks the information that the tenant supplies on his application. That means calling former landlords, checking employment, and verifying addresses and income.

You simply can’t rely on your tenant to tell the complete truth. If you encounter any lie, but especially ones about income, employment, and previous rent experiences, it is wise to reconsider renting to them.

7. Do They Seem Desperate? Evasive?

 When you talk to the renter, does she seem desperate or evasive? This can mean a problem you don’t want to get involved in.

Trying to get away from an abusive situation can make anyone desperate. By renting to someone in this situation, you are helping her out of a difficult situation. In the process, you can end up with a loyal and stable tenant.

But, if you sense evasion and that something is just not quite right, trust your gut. Move on to the next application.

If you’re looking for help in managing your rental property, you’ve come to the right place. Contact Zenith Properties NW today if you have any questions about rental property, investing, rental management, or any of our services that we offer. Call 360-696-3111 or email info@zenithpro.com.

While most people think of property renovations as an expense, in reality they have the potential to earn you more money in the long, and even short, term. Here are some affordable ways you can improve your rental property to maximize both tenant enjoyment and income potential.

Remember, it's an investment property.

Treat your property as the investment that it is. It might be okay to splurge a little on your own home to get the results that please you, but over-improving a rental property is bad business. Your primary goal is to make it as compelling to renters as you can, within your budget.

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Over the years, the awareness of the dangers of smoking has extended beyond the smokers themselves to secondhand smoke risks. Given what we now understand about the dangers of secondhand smoke, it is getting much more difficult for smokers to find public places they can light up.

With the health dangers in mind, not to mention the problems smoking can pose to interior spaces, many landlords adamantly want the option to ban smoking in the property they rent out. Is this possible, and if so, what if anything needs to be taken into consideration?

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If you have recently purchased a historic home and you need to renovate it in order to put it up for rent, you know the exciting challenge that is ahead of you. There are difficulties that can come with renovating old homes, but with the right team of experienced contractors, you will be able to renovate the property efficiently while keeping its charm and history intact. Here are some helpful tips on how to renovate your historic home for the rental market:

Find a team of professionals you trust. 

If you have extensive remodeling that needs to take place on your historic home, you will need to find a team of experienced companies or contractors that understand the ins and outs of renovating a historic home. People that have expertise working on these types of homes know some of the basic issues that can arise, are able to find solutions quickly, and can complete the job right the first time. When you’re looking for contractors or companies to work on the home, look online for what their reviews say. Here, you should be able to find reviews on the company or contractor’s quality of work and what type of rapport they have with homeowners or other businesses in the community.

Know what you’re getting into.

Renovating an old home and restoring it to its original glory can be costly and time-consuming. When you purchase an old home, know that some of the upgrades that need to be completed will be expensive, but necessary in order to rent it out successfully. For example, upgrading the electrical panel to have it ready for modern appliances is a critical thing to have done. Be sure that you check with professionals on how this will be done before you dive into full renovations, so you know what you’re getting into and if you have the budget to complete the project.

Do your research.

Not sure where to begin? Look at other historic homes in the area and see how they have been renovated. Consider which ones are being rented out and what the rental value is so you can determine how your home should be renovated in order to get the same rent. A quality remodel will increase the value of your home and bring in steady rental income for you.

Contact our property management team at

Zenith Properties

today for additional information on how we can help with managing your rental property.

 Are you looking to lease your property, but don’t know where to start? A lot goes into preparing your property for lease, but the process doesn’t have to be overwhelming. Check out a few of our property preparation tips below and you’ll have your property prepped for lease in no time! 

Tip #1: Boost Your Curb Appeal. The term “curb appeal” is used by real estate agents to refer to the exterior attractiveness of a piece of property. There are tons of ways to boost the curb appeal of your property, depending on your property’s condition. For example, you could hire an experienced painting company to touch up your home’s exterior paint job, or call a landscaper to give the lawn a once-over and plant some flowers. Doing these simple things will go a long way towards boosting your property’s curb appeal and helping to attract interested renters!

Tip #2: Update Your Interiors. The outside of your rental is important, but don’t get so caught up in boosting your property’s curb appeal that you forget about the interior of your property! The first look inside your property is sure to make a lasting impression on a potential renter. Ensure you make a great first impression by checking that your property is clean (no remaining construction projects, everything gone over by a cleaning crew, etc.) and that all of the amenities are in good condition.

Tip #3: Make A Plan, And Stick To It! Leasing a property is a bit like doing a choreographed dance. There are a lot of moving parts and you’ll have to keep them all straight in order to have everything come together and successfully lease your property. One of the most important things you can do when preparing to lease your property is to start early, before the rush of your rental busy season, and to have a well-coordinated marketing, service, and operations set-up constructed from the start. That way you are offering consistently great service to every potential resident that looks at your property!

Tip #4: Offer The Highest Level Of Service You Can. With the internet, word of good and bad customer service experiences travel fast and can make or break a business. It’s important that potential residents not only get a good feeling about your property, but about your brand as well. The best way to transform a prospective resident into a resident is by offering them consistently high levels of customer service and support. Investing in friendly, service-oriented marketing, customer service and maintenance staff will help ensure that both your property and your residents are well cared for!

Tip #5: Be Move-In Ready. It won’t matter how many interested potential residents you have if they aren’t able to actually move in! If you’re looking to lease your property, be prepared with at least some number of move-in ready units. Experts suggest keeping 75% of vacant properties move-in ready at all times.

Do You Have Questions About Preparing Your Property For Lease? For more property management and rental tips contact the friendly property management experts at Zenith Properties NW. The Zenith Properties NW real estate team is made up of highly qualified property managers and investors dedicated to helping property owners, investors and renters succeed in the real estate market. Call us at 360-696-3111 or email us at info@zenithpro.com. We’d love to hear from you!

It’s a popular topic on the local news recently: is the water you’re drinking safe? City water is usually clean, but if your rental property has old pipes, there may be lead or bacteria that is getting into the water. As a landlord or property manager, it’s important that you provide each tenant with clean drinking water and to do so, you need to keep aware of the status of the water in your rental units, especially if a tenant brings something to your attention.

What Should You Do?

Landlords are required to correct any known lead hazards on the property or apartment units that are being lived in, and these include lead exposure via soil, dust, or paint in the area.

Tip #1: Fix any broken or old pipes.

Old, leaky pipes are usually one of the main sources of lead exposure in water – especially copper pipes. So, be sure to replace any pipes that are old or leaking, and be careful that the tap water is not coming into contact with any pipes that are broken, especially if the home was built before 1980 and the plumbing has not been completely updated.

Tip #2: Fix any chipping or peeling paint.

If there are areas of peeling or chipping in the home and the paint is lead

• based, dust from the paint can get into the soil and tap water.

  Tip #3: Give tenants the proper information.

  Provide tenants with water test kit information if there is a concern for lead exposure in the water and provide a filtration system or bottled water for tenants to use as long as they need to, until the lead issue has been resolved.

  In addition, take precautions by offering the most recent lead inspection report for the rental unit, showing that the Department of Health has cleared the unit and that tenants are safe to live there.

  What are the symptoms of lead poisoning?

  Unfortunately, lead poisoning is often difficult to diagnose, as symptoms can mask themselves or appear to be other common illnesses. Children are most often at risk for lead poisoning, but it can be incredibly dangerous for adults as well. Here are some signs and symptoms:

  • High blood pressure
  • Constipation
  • Muscle and joint pain
  • Abdominal pain
  • Headache
  • Memory loss
  • Decline in mental function
  • Pain, numbness, or tingling of extremities
  • Mood disorders

• All tenants have the right to living in a safe and healthy home, so be sure that your rental units are livable before anyone moves in.

  Our expert team is experienced, friendly, and ready to answer your questions! Contact us today!

Updated December 2017

More and more people across the United States are choosing to rent their homes as opposed to buying, which means one thing: now is one of the best times to become a property manager.

Property management jobs are great careers for strong leaders who want to work hard and communicate with a variety of different people from all walks of life. It’s also a career in a state of growth: the Bureau of Labor Statistics has officially projected the property management industry will continue to grow by at least 8% by 2024.

This following list of guidelines will give you the next steps for becoming a property manager in the state of Washington.

What is a property manager?

Property managers are in charge of operating a real estate property in lieu of the owner. They are paid by the owner. A good property manager will be on call 24/7. The job is demanding, but rewarding.

Some of the key responsibilities include:

• Collecting monthly rent from tenants
• Hiring maintenance personnel to work around the grounds of the property
• Showing apartments and other living spaces to prospective renters
• Developing marketing materials to attract new tenants
• Performing routine building inspections
• Create lease agreements and respond to issues or complaints that tenants have while renting

Steps to a Career in Property Management in Washington State

Getting started in the career of property management is not difficult, but there is some education and licensing required upfront. We’ll walk you through those below.

1.  Legal requirements

In Washington, property management is considered a real estate brokerage activity that is listed under the state’s real estate licensing laws. Therefore, property managers need to hold a real estate broker’s license.

You may be open to exemption, however, if you are employed by a managing broker and limited in performing any of the following property management duties:

• Delivering a lease application or lease and any lease amendment
• Receiving a lease application, lease, security deposit, or rental agreement that is made payable to the real estate firm or the property owner
• Showing a rental unit to a person, executing leases or real estate agreements, or acting under the instruction of the owner or managing broker
• Offering information on security deposits, rental amounts, or a rental unit or application for lease to prospective tenants
• Assisting in administrative, financial, maintenance, or clerical duties
2. Start studying

   For the most part, companies who hire property managers are looking for people with at least a Bachelor’s degree in real estate, business administration or finance.

   Other companies look for people who have received real estate training or even have a real estate license.

   For those who don’t want to go back to school full-time, you can take a vocational real estate training course in subjects like real estate finance, property management, real estate management, affordable housing administration and real estate development.

   You can do these courses online or in-person in just about every city. They are not required, but  they will give you a leg up on other candidates.

   If these options are not viable for you, there is always the possibility of accepting an entry-level property management position and learning through experience. Many great property managers got their start doing just that.

3. Getting Certified

   Getting the proper certifications might not be required where you live, but it will always convey expertise to hiring companies and property owners.

   Some of the certifications you are going to want to look into obtaining include a Certified Property Manager, Residential Management Professional, Certified Manager of Community Associations and Certified Apartment Manager.

   Many times professional property managers will get a real estate license on top of their specialized certifications. This qualifies them for more lucrative possibilities within other realms of real estate.

4. Gaining experience

   Once you’ve gotten your credentials, the next thing you’ll have to do is find the right company that is best for you. This is where you’ll have to put on your networking suit and get out there!

   Conventions and other events that potential employers will be at are a great start. Two excellent organizations to look into are the National Association of Residential Property Managers (NARPM) and your city’s Chamber of Commerce.

   At Zenith Properties, we are always looking for talented people to come on and help with our real estate and property management. You can read more about our story and services and see if you’d like to join our team!

Traits of a successful property manager

There isn’t one “set personality” for a successful property manager. The position does bring duties though that are best suited for people with certain traits. Here they are:

• You have people skills.You are dealing with a range of people here and there’s a good chance you will see occasional problems and disputes. You need to be able to deal with unhappy tenants in a calm, respectful, levelheaded way. A good property manager is typically a great communicator and can navigate through tense conversations.
• You are a problem solver. This is a huge responsibility of property managers. You need to be able to think quickly and be a resource for issues that arise.
• You have a head for business. Owning and managing a property requires serious intent and good business sense. Businesses, in general, are all about knowing what it takes to be competitive, keeping realistic goals in mind and, ultimately, keeping an eye on the bottom line so you can turn a profit.
• You take initiative. The best property managers are proactive, meaning they schedule maintenance regularly and are on top of vacancies. They seem to be one step ahead of the curve.
• You are accountable. You want your tenants to know they can rest assured you’ll take care of repairs and maintenance issues in a timely manner. They also have a reasonable expectation that you will enforce general rules of tenancy and any policies contained in the lease.

Quite simply, you need to feel certain you’re equipped to handle the job. That entails doing some research and learning all the ins and outs of managing a property. If you’re comfortable reaching out, you might even contact a landlord or two and ask if they can spare a few minutes of their time giving advice to a first-timer.

Things to Consider Before Becoming a Property Manager

Before you launch into your new career, there are a few final things to consider. Taking care of these now can save you some time and set you up well for a start in property management.

1. You’re going to need adequate landlord’s insurance. You may have regular residential insurance, but it won’t apply if you have tenants living there without the knowledge of your insurer. When purchasing a landlord insurance policy, you should pay attention to possible clauses that might obligate you to conduct regular inspections of the property during periods when it isn’t occupied.

Also, consider whether you need both building and content insurance. Building insurance on its own may not cover carpets, drapes and furniture if you’re renting a furnished apartment. In addition, you’ll want to make sure your policy covers you against damage or vandalism and – in case the place becomes uninhabitable due to a covered loss such as fire or flooding – loss of rent. Lastly, make sure you’re covered for liability in case a tenant is injured on your property.

2. You need to get permission from your lender before you can rent a mortgaged property. This applies even to something as seemingly trivial as renting out a single room in your home. You’re risking repossession if you don’t. You’re also leaving your tenant in a precarious position if the property goes into foreclosure, because the lender will have no legal obligation to honor the tenancy.
3. Carefully consider reasonable ground rules. For instance, a lot of landlords recommend limiting the number of occupants that can reside on your property. The more noise to bother neighbors, the greater likelihood of difficulties and problems in general.
4. Do some research and learn your state’s laws governing landlords and tenants. Just reading on tenant laws for a few minutes online should reveal a lot of what you need to know.
5. You’ll need to do background checks on prospective tenants. The cost is minimal – maybe $20 to $30 – and well worth it. Experienced landlords say they mainly want to know if the prospective renter has a history of evictions. The great ones can look for specific red flags in the tenant.

Ready to launch a career in property management?

Once you’ve got the necessary licenses and education, you can check out our resources for getting started, such as tenant rights and best practices for new property managers. Our expert team is experienced, friendly, and ready to answer your questions! Contact us today!